Revenue Update on Interface(NASDAQ:TILE)

Interface(NASDAQ:TILE) announced the earnings results for Fiscal Year 2016 and Q4. The results came in during After-Market on Feb 22, 2017. Based on the corporate Earnings and Guidance, many Investment Banking firms balance their portfolio to Sell and Buy Stocks based on their strategy of investing in stocks.Company reported revenue of $239.507M. Analysts estimated a revenue of $248.730M. The revenues were -3.71% below the estimates. Earnings per share were $0.28. The reported EPS was above estimates by 16.67%. Analysts had estimated an EPS of $0.24.

Interface (TILE) shares turned negative on Wednesdays trading session with the shares closing down -0.05 points or -0.28% at a volume of 7,81,266. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $18.095. The peak price level was also seen at $18.095 while the days lowest was $17.5. Finally the shares closed at $17.8. The 52-week high of the shares is $19.3 while the 52-week low is $13.7. According to the latest information available, the market cap of the company is $1,153 M.

Several Insider Transactions has been reported to the SEC. On Feb 2, 2017, Daniel T Hendrix (Chairman & CEO) sold 3,000 shares at $18.22 per share price.Also, On Dec 12, 2016, Patrick C Lynch (Sr. Vice President & CFO) sold 1,500 shares at $18.00 per share price.On Dec 12, 2016, Robert Boogaard (VIce President) sold 17,040 shares at $18.00 per share price, according to the Form-4 filing with the securities and exchange commission.

Interface Inc. is engaged in design production and sales of modular carpet also known as carpet tile across the world. The Company markets its modular carpets in over 110 countries under the brand names Interface and FLOR. The Company’s revenues are derived from sales of floorcovering products primarily modular carpet. The Company distributes its product through two primary channels: direct sales to end users and indirect sales through independent contractors or distributors. The Company sells an antimicrobial chemical compound under the trademark Intersept that the Company incorporates in all of its modular carpet products. The Company manufactures carpet at two locations in the United States and at facilities in the Netherlands the United Kingdom Thailand China and Australia. The Company’s principal geographic markets are the Americas Europe and Asia-Pacific.

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