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Interface, Inc. (TILE) designs, produces, and sells modular carpet products primarily in the Americas, Europe, and the Asia-Pacific.
It offers modular carpets under the Interface and FLOR brands; and carpet tiles under the GlasBacRE brand name for use in commercial interiors, including offices, healthcare facilities, airports, educational and other institutions, hospitality spaces, and retail facilities, as well as residential interiors.
The company also provides two-meter roll goods that are structure-backed for use in education, healthcare, and government markets; and an adapted version of its carpet tile for the healthcare facilities market, as well as offers carpet replacement, installation, and maintenance services. In addition, it offers proprietary antimicrobial chemical compound for interior finishes under the Intersept trademark; TacTiles carpet tile installation system; raised/access flooring products under the Intercell brand; and turnkey project management services for national accounts and other customers through its InterfaceSERVICES business, as well as sells traditional adhesives and products for carpet installation and maintenance.
The company sells its products directly to end-users; and to architects, engineers, interior designers, contracting firms, and other specifiers through independent contractors or distributors, as well as sells its FLOR branded products through catalogs and Internet.
It operates 21 stores under the FLOR brand name in the United States and Canada; and has product showrooms or design studios in United States, Canada, Mexico, Brazil, Denmark, England, France, Germany, Spain, the Netherlands, India, Australia, Norway, the United Arab Emirates, Russia, Singapore, Hong Kong, Thailand, and China.
Shares have formed a bullish "flag" following the company's release of its quarterly results. Sales were up 1% in the quarter to $263.6 million, although on a local currency basis, sales were up 10.4%. Net income jumped 66% to $21.7 million, or $0.33 per share, which beat analyst expectations by $0.05. Higher share prices are expected for this stock.
52-Weeks Tradiing Range: $12.98 - $27.17
Entry Point: $25.59
Stop Loss: $24.10
Target Price: $28.20
TILE closed at $24.05 after it failed to rebound with the market.
