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From Home Furnishing Business

American Furniture Parent Posts Increased 4Q Income

Compass Diversified Holdings, (NYSE: CODI) owner of American Furniture Manufacturing, reported net income of $8.9 million for the fourth quarter ended Dec. 31, compared to a loss of $5.1 million in the same quarter last year.

Net sales for the quarter were $264 million, a 13 percent increase from $232.7 million in the fourth quarter of 2013.

Net income for the full year 2014 was $291.2 million compared to $78.8 million in 2013. Net sales for the year were $982.3 million, a slight dip from net sales in 2013 of $985.5 million. 

"We generated strong operating results for the fourth quarter and full year 2014 as we benefitted from the leadership positions and financial strength of our niche industrial and branded consumer businesses," said Alan Offenberg, CEO of Compass Diversified Holdings. "During a time when we capitalized on attractive growth opportunities, we achieved full year 2014 Cash Flow of $58 million. Our 2014 results reflect solid contributions from Ergobaby, Camelbak and American Furniture Manufacturing as well as strong performance from our latest platform acquisitions of Clean Earth and SternoCandleLamp."

The company’s complete earnings release is available online.

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