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Article: Mannington reports dramatic year-end growth. (Mannington Resilient Floors)
- Article from:
- PR Newswire
- Article date:
- January 21, 1991
CopyrightCOPYRIGHT 1991 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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MANNINGTON REPORTS DRAMATIC YEAR-END GROWTH
SALEM, N.J., Jan. 21 /PRNewswire/ -- With the recession now a reality in many business sectors across the United States and manufacturing continuing on a downward trend, the recent growth of Mannington, the Salem-based flooring manufacturer, has literally taken the sleepy industry by surprise.
According to Kidder, Peabody analyst Barbara Allen, Mannington's recent introduction of its flagship product "Mannington Gold" forced Armstrong's EPS from $3.90 to $3, and lowered its rating on the shares to "Underperform from Hold."
Allen said, "We believe Mannington is not only dead serious about gaining ...