Shares of Flooring Makers Surge To Close Week

New York, NY, April 27, 2009–Stocks of floor covering manufacturers surged on Friday.

Share of Mohawk Industries, Interface Inc., Armstrong World Industries, and Dixie Group rose substantially on Friday after Mohawk gave a relatively optimistic outlook about the second quarter.

Mohawk, which also produces hardwood, laminate, tile and rugs, announced a $105.9 million loss in the first quarter of 2009. The per-share loss of $1.55 was considerably worse than the 85-cent loss per share that the street was expecting.

However, the company’s optimism about the second quarter was enough to send the stock flying. Mohawk shares rose from $37.82 to $49.

Modular carpet maker Interface also rose from $4.17 to $4.92. The company will report its fourth quarter earnings after the bell on April 29.

Shares of Armstrong rose from $17.25 to $19.70, and shares of Dixie Group were up to $2.35 from $2.14.