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INTERFACE REPORTS IMPROVED FIRST QUARTER RESULTS, SEES TREND CONTINUING

INTERFACE REPORTS IMPROVED FIRST QUARTER RESULTS, SEES TREND CONTINUING
 LAGRANGE, Ga., April 28 /PRNewswire/ -- Interface, Inc. (NASDAQ: IFSIA), today reported net income of $3.8 million ($.22 per share) for the quarter ended April 5, 1992, more than double the net income of $1.7 million ($.10 per share) for the first quarter of 1991. Net sales were $154 million, up 2 percent from the first quarter of 1991.
 Ray C. Anderson, chairman and chief executive officer, said, "The increase in first quarter sales was particularly gratifying in view of unfavorable currency movements and the lackluster performance of the economies in most of our major markets. The sales increase along with continued improvement in our order activity suggest that the long awaited, though anemic, economic turnaround has begun. Rivaling the importance of economic conditions was the positive impact visible in this quarter's operating income as a result of our cost containment efforts. The decrease in selling, general and administrative costs and the improvement in gross margin were both largely attributable to cost reductions we implemented last year. We believe that our performance during the second quarter of 1992 will extend the positive year-on-year earnings trend which began in the fourth quarter of 1991, as we see further spread of the economic recovery and continue to emphasize aggressive selling efforts and new products."
 Interface, Inc. is committed to delivering superior value to its customers, as the world's largest manufacturer of carpet tiles under the Interface and Heuga brands, and interior fabrics under the Guilford of Maine brand, for use in offices, healthcare facilities, airports, educational and other institutions, and retail facilities. The company also manufactures carpet tiles for residential use. In addition, the company engages in the manufacture and sale of chemicals used in various rubber and plastic products, and offers Intersept(R), the company's proprietary antimicrobial chemical, under a licensing program to manufacturers of other products.
 INTERFACE, INC.
 First Quarter
 Three months ended 4/5/92 3/31/91
 Net sales $154,490,000 $151,461,000
 Operating income 12,359,000 8,978,000
 Net income $ 3,779,000 $ 1,660,000
 Earnings per share:
 Primary $.22 $.10
 Fully diluted $.22 $.10(A)
 Weighted avg. shares outstanding:
 Primary 17,232,000 17,228,000
 Fully diluted 23,377,000 23,373,000
 (A) -- Fully diluted earnings per share and primary earnings per share are the same as the effect is antidilutive.
 -0- 4/28/92
 /CONTACT: Dan Hendrix, CFO of Interface, 404-882-1891; or J. Desmond Towey of Towey & Associates, 800-626-1473, for Interface/
 (IFSIA) CO: Interface, Inc. ST: Georgia IN: TEX SU: ERN


GK-AH -- NY091 -- 3859 04/28/92 13:25 EDT
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Publication:PR Newswire
Date:Apr 28, 1992
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