WestPoint in the Black for 3Q

摘要

Despite a third quarter sales decline, better margins resulted in $1 million in net income for WestPoint Home. During the year-ago third quarter, WestPoint was breakeven. For the recent third quarter, which ended Sept. 30, gross margin improved to 16% from 11 % in the year-ago period. Parent company Icahn Enterprises attributed the boost to WestPoint dropping unprofitable programs. Sales fell 13% during the quarter to $47 million. Icahn execs said during the company's quarterly call they expect West-Point will have solid placements in 2014. For the first nine months of the year, sales were off just 1.3% to $144 million. WestPoint's net loss narrowed to $5 million from $16 million.