The Dixie Group(DXYN) - 2025 Q1 - Quarterly Results

Financial Performance - In Q4 2024, net sales were $64.39 million, a decrease of 3.8% from$ 66.67 million in Q4 2023[2] - The net loss for Q4 2024 was $7.20 million, compared to a net income of$ 3.16 million in Q4 2023, which included an $8.20 million gain on asset sale[2] - For the fiscal year 2024, net sales totaled$ 265.03 million, down 4.1% from $276.34 million in 2023[2] - The gross margin for fiscal year 2024 was 24.7%, down from 26.7% in 2023, primarily due to under absorbed fixed costs and higher utility and medical expenses[10] Cost Management - The company achieved a cost reduction plan exceeding$ 10 million in 2025, alongside a planned reduction in inventory[7] - Selling and administrative expenses decreased by $4.3 million or 5.8% in 2024 compared to 2023[10] Capital Expenditures and Financing - Capital expenditures in 2024 were$ 2.1 million, an increase from $1.0 million in 2023[11] - The company closed a new$ 75 million senior credit facility in February 2025, replacing the previous facility[9] Inventory Management - Net inventories decreased by $9.4 million or 12.3% from the fiscal year end 2023 due to planned reductions and write downs[11] Product Development - The company experienced growth in higher-end product offerings, particularly in decorative programs and nylon carpet[5]