Successful product introductions helped promotional upholstery source American Furniture Mfg. to a 26.7% sales increase in the third quarter, parent company Compass Diversified Holdings reported.
American's sales of $26.3 million in the period were up from $19.5 million in the comparable 2012 quarter. For the first nine months of the year, sales were up 9.6% to $79.3 million, Compass reported.
In its quarterly report to the Securities and Exchange Commission, Compass management said American's stationary product sales were up $4.3 million in the quarter while recliner and motion products were up $1.1 million.
"The increase in sales of stationary products is the result of several new product introductions from the 2013 spring market that have been well received in the marketplace," the company said. "The increase in motion and reclining sales ... is the result of a large recliner promotion with a key account together with new product introductions that have been received well in the marketplace."
American posted a loss from operations of $166,000 in the quarter, compared with a $581,000 loss a year earlier, the company said. For the year to date, the division had an operating profit of $186,000 compared with a $1.03 million loss a year earlier.
