Financial Data and Key Metrics Changes - The net sales for the fiscal year 2022 were $304 million, which is 11% lower than the $341 million reported in 2021 [15][17] - The net loss for fiscal year 2022 was $35.1 million, compared to a profit of $1.6 million in the previous year [18] - The gross profit margin for fiscal year 2022 was 17.7%, down from 22.6% in fiscal year 2021 [7] - Selling and administrative expenses were 25.4% of net sales in 2022, compared to 19.9% in the prior fiscal year [7] - Interest expense increased to $5.3 million in 2022 from $4.7 million in 2021 due to higher debt levels and interest rates [7] Business Line Data and Key Metrics Changes - The polyester business grew by 49% in 2022, with projections for a 75% sales growth in 2023 starting from a low base [31] - The Hard Surface segment has grown to approximately $50 million in annual sales, representing about 20% of total sales [23] - The company faced a significant impact from the exit of Invista from the Stainmaster nylon business, leading to a loss of business with Lowe's [10][11] Market Data and Key Metrics Changes - The company experienced a reduction in sales volume, leading to a decrease in accounts receivable by $14 million year-over-year [19] - Accounts payable and accrued expenses decreased by $11.1 million at the end of 2022, consistent with lower volume and inventory costs [20] Company Strategy and Development Direction - The company is focusing on growth initiatives in polyester products and has developed a three-year strategy to expand this category [13][30] - A consolidation plan for East Coast facilities is expected to result in over $25 million in savings and a 24% reduction in workforce [15][30] - The company is also restructuring its manufacturing to adapt to market changes, including ceasing yarn and carpet manufacturing in certain plants [29] Management's Comments on Operating Environment and Future Outlook - Management indicated that 2023 is expected to be challenging due to economic uncertainty, inflation, and higher interest rates, but anticipates growth from new initiatives [30] - The company is implementing cost reduction measures and expects improved results in 2023 despite a sluggish core business [30] Other Important Information - Capital expenditures for the year were $4.6 million, with depreciation of $7.6 million [9] - The company ended the year with a borrowing availability of $15.3 million under its senior credit facility [21] Q&A Session Summary - There were no questions during the Q&A session, and the call concluded with management expressing optimism for 2023 compared to 2022 [25][26]

Dixie Group (NASDAQ:DXYN) Q3 2022 Earnings Conference Call November 3, 2022 2:00 PM ET Company Participants Dan Frierson - Chairman and Chief Executive Officer Allen Danzey - Chief Financial Officer Operator Good day and welcome to the Dixie Group, Inc. 2022 Third Quarter Earnings Conference Call. TodayÂ's call is being recorded. At this time, for opening remarks and introductions, I would like to turn the call over to the Chairman and Chief Executive Officer, Dan Frierson. Thank you, sir. Please go ahead. ...

The Dixie Group, Inc. (NASDAQ:DXYN) Q2 2022 Results Conference Call August 15, 2022 2:00 PM ET Company Participants Dan Frierson - Chairman & CEO Allen Danzey - VP & CFO Conference Call Participants Barry Gertner - Improverb Derek Maupin - Hodges Capital Management Chris Riemenschneider - Morgan Stanley Operator Greetings, and welcome to the Dixie Group Second Quarter 2022 Conference Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presenta ...

Financial Data and Key Metrics Changes - Net sales for Q1 2022 were $77.6 million, a 6.6% increase from $72.7 million in Q1 2021, adjusted for the divestiture of the commercial business [3] - The net loss for the quarter was $3.3 million, compared to a loss of $2 million a year ago [3] - Gross profit as a percentage of net sales decreased to 19.6% from 23.2% in Q1 2021 [6] - Selling and administrative expenses increased to 22.4% of net sales in Q1 2022 from 21.7% in the prior year [7] - Interest expense decreased to $1.1 million from $1.3 million in the previous year [7] Business Line Data and Key Metrics Changes - The carpet business was significantly impacted by unprecedented price increases from major suppliers, leading to unsustainable product sales [4] - The hard surface business continued to grow rapidly, although ocean freight costs negatively impacted results [5] - The residential business grew by 6.6%, with key growth areas including Masland, Fabrica, and the hard surface segment [10] Market Data and Key Metrics Changes - The average price of residential carpet in the industry rose by 10% over the last year and 20% over the last two years [17] - The industry is facing headwinds such as labor availability, material supply shortages, and increased energy costs [18] Company Strategy and Development Direction - The company is diversifying raw material sourcing to mitigate the impact of price increases and improve cost control [15][19] - A new flooring center concept is being developed to strengthen relationships with key retail customers [19] - The company launched new decorative and hard surface product lines, which are expected to hit the market in Q2 [11][12][14] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism for the year due to a structural deficit in housing availability and ongoing remodeling trends [18] - The transition to new raw material suppliers is expected to improve costs in the second half of the year [16] - Despite challenges, orders and sales to residential retail customers are up, indicating positive momentum [20] Other Important Information - The company closed on an $11 million loan secured by its facility in Adairsville, Georgia, allowing for the payoff of higher interest existing mortgages [9] - Capital expenditures during the quarter were $345,000, with depreciation just over $2 million [10] Q&A Session Summary Question: Regarding the divestiture of the commercial business and retained inventory value - Management stated that the value of the retained inventory was written down to estimated disposal recovery value and maintained at that value [23] Question: On the return of on-premises designers and installations in the residential sector - Management noted that retail customers adapted to selling methods during the pandemic, and there is now a return to allowing staff on-premises, enhancing their selling skills in the process [25]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) þ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 25, 2021 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _________ to ________. Commission File Number 0-2585 THE | --- | --- | |------------------------------------------------------------------------------------------- ...

Dixie Group (NASDAQ:DXYN) Q4 2021 Earnings Conference Call March 10, 2022 2:00 PM ET Company Participants Dan Frierson – Chairman and Chief Executive Officer Allen Danzey – Chief Financial Officer Conference Call Participants Operator Good day, and welcome to the Dixie Group, Inc. 2021 Earnings Conference Call. Today's call is being recorded. At this time, for opening remarks and introductions, I would like to turn the call over to the Chairman and Chief Executive Officer, Dan Frierson. Please go ahead. Dan ...

Dixie Group, Inc. (NASDAQ:DXYN) Q3 2021 Earnings Conference Call November 12, 2021 11:00 AM ET Company Participants Daniel Frierson - Chairman & CEO Allen Danzey - VP & CFO Conference Call Participants Derek Maupin - Hodges Capital Management Michael Hughes - SGF Capital Operator Good day, and welcome to the Dixie Group Inc. 2021 Third Quarter Earnings Conference Call. Today's call is being recorded. [Operator Instructions]. At this time, for opening remarks and introductions, I would like to turn the call ...

The Dixie Group, Inc. (NASDAQ:DXYN) Q2 2021 Earnings Conference Call August 5, 2021 10:00 AM ET Company Participants Dan Frierson - Chief Executive Officer Allen Danzey - Chief Financial Officer Conference Call Participants Mike Hughes - SGF Capital Operator Greetings. Welcome to the Dixie Group Second Quarter 2021 Conference Call. [Operator Instructions] Please note this conference is being recorded. I will now turn the call over to your host, Dan Frierson. Dan Frierson Thank you, Stacy and welcome everyon ...

The Dixie Group, Inc. (NASDAQ:DXYN) Q1 2021 Earnings Conference Call May 18, 2021 2:00 PM ET Company Participants Dan Frierson - Chairman & Chief Executive Officer Allen Danzey - Chief Financial Officer Conference Call Participants Operator Good day, and welcome to the Dixie Group, Inc. 2021 First Quarter Earnings Conference Call. A question-andanswer session will follow the formal presentation. [Operator Instructions] As a reminder, today's call is being recorded. At this time, for opening remarks and intr ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) þ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 26, 2020 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _________ to ________. Commission File Number 0-2585 THE | --- | --- | |------------------------------------------------------------------------------|------------ ...