The Dixie Group, Inc. (NASDAQ:DXYN) shares popped Friday, on reporting financial results for the year ended December 30, 2023.
A news release reported the company situated with an operating income of $5.0 million for fiscal year 2023. Gross profit margin in the fiscal year 2023 was 26.7% compared to 17.7% in the fiscal year 2022. Year over year net sales in the fourth quarter were up 1.8% on an average weekly basis.
For the year 2023, net sales for the Company were $276,343,000 as compared to $303,570,000 for the fiscal year 2022. Fiscal year 2023 included 52 weeks as compared to the fiscal year 2022 at 53 weeks. On an average weekly basis, sales in 2023 were $5,314,000 per a week compared to $5,728,000 per a week in 2022.
The operating income on the year was $5,048,000 compared to an operating loss of $28,156,000 in the prior year. The net loss from continuing operations on the year was $1,952,000 in 2023, or $0.13 per diluted share, compared to a net loss of $33,415,000, or $2.21 per diluted share, in 2022. The net loss on the year was $2,718,000, or $0.18 per diluted share, compared to a net loss of $35,079,000, or $2.32 per diluted share, in 2022.
DXYN shares hiked six cents, or 11.3%, to 62 cents.
