WINCHESTER, VA -- American Woodmark Corporation said it generated a net loss of $7.3 million during its second quarter of fiscal year 2011, compared with a net loss of $5.2 million a year earlier. Net sales, however rose by 3% compared with the second quarter of the prior fiscal year to $107,613,000.
Gross profit for the second quarter of fiscal year 2011 was 9.1% of net sales, compared with 12.2% in the second quarter of the prior fiscal year. Gross profit was 11.2% of net sales during the first six months of fiscal year 2011, compared with 12.0% of net sales during the comparable period of the prior fiscal year. The decline in gross profit margin during the three- and six-month periods primarily reflected the unfavorable impact of increased sales promotion costs that were included as either reductions of sales or increases to cost of sales during the second quarter of fiscal year 2011.
American Woodmark Corporation manufactures and distributes kitchen cabinets and vanities for the remodeling and new home construction markets. Its products are sold on a national basis directly to home centers, major builders and through a network of independent distributors. The Company presently operates eleven manufacturing facilities and nine service centers across the country.