Congoleum announces third quarter results

MERCERVILLE, N.J.-- Congoleum Corp. reported its financial results for the third quarter that ended Sept. 30.

Sales for the third quarter were $57.9 million, compared with sales of $61 million reported in the third quarter of 2000. Net income for the quarter was $1.2 million versus income of $1.7 million in the third quarter of 2000. Earnings per share for the quarter were $.14 compared to $.21 in the third quarter of 2000.

Third quarter sales totaled $166.6 million, compared with sales of $173.1 million in the first nine months of 2000, a decrease of 3.8%. The net loss for the first nine months of 2001 was $2.4 million, or $.28 per share.

Roger S. Marcus, Congoleum’s chairman of the board, noted that while the events on Sept. 11 impacted the company’s September business, October sales returned to normal.