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Interface Reports First Quarter 2021 Results
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ATLANTA, May 7, 2021 /PRNewswire/ Interface, Inc. (Nasdaq: TILE), a worldwide commercial flooring company and global leader in sustainability, today announced results for the first quarter ended April 4, 2021.
Quarterly Highlights:
Orders increased 11% from Q4 2020 to Q1 2021.
Strong liquidity of $405 million at quarter end comprised of $107 million in cash and $298 million of availability under the revolving credit facility.
Cash generated by operating activities of $25 million in Q1 2021. We delivered solid results for the first quarter 2021 benefiting from our reduced cost structure and a currency tailwind. The dynamic market environment is beginning to show tangible signs of recovery, including an 11% sequential increase in orders, primarily driven by rising demand in the Americas and parts of Europe and APAC, commented Dan Hendrix, Chairman and CEO of Interface.
Interface Announces Changes to Segment Reporting Structure
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ATLANTA, May 5, 2021 /PRNewswire/ Interface, Inc. (Nasdaq: TILE), a worldwide commercial flooring company and global leader in sustainability, announced today it has expanded its financial reporting into two reportable segments, Americas (AMS) and Europe, Africa, Asia, and Australia (EAAA). The change will be effective with the first quarter 2021 financial statements. The timing of this change is aligned with the largely completed integration of our nora business and integration of our European and Asia Pacific commercial areas into a EAAA region, despite delays due to COVID-19. This change also provides greater visibility into performance and results across the Company, said Dan Hendrix, Chairman and CEO of Interface.
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About Interface
Interface, Inc. is a global flooring company specializing in carbon neutral carpet tile and resilient flooring, including luxury vinyl tile (LVT) and nora® rubber flooring. We help our customers create high-performance interior spaces that support well-being, productivity, and creativity, as well as the sustainability of the planet. Our mission, Climate Take Back™, invites you to join us as we commit to operating in a way that is restorative to the planet and creates a climate fit for life.
Interface Declares Regular Quarterly Dividend
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ATLANTA, March 16, 2021 /PRNewswire/ Interface, Inc. (Nasdaq: TILE), a worldwide modular flooring company and global leader in sustainability, today announced that its Board of Directors has declared a regular quarterly cash dividend of $0.01 per share, payable April 16, 2021 to shareholders of record as of April 2, 2021.
About Interface
Interface, Inc. is a global flooring company specializing in carbon neutral carpet tile and resilient flooring, including luxury vinyl tile (LVT) and nora® rubber flooring. We help our customers create high-performance interior spaces that support well-being, productivity, and creativity, as well as the sustainability of the planet. Our mission, Climate Take Back™, invites you to join us as we commit to operating in a way that is restorative to the planet and creates a climate fit for life.