Reports Q1 revenue $2.526B, consensus $2.56B. Commenting on the Company’s first quarter, Chairman and CEO Jeff Lorberbaum stated, “In the first quarter, our sales were relatively flat on a constant basis, absorbing two fewer shipping days and year-over-year foreign exchange headwinds. The impact of missed sales and extraordinary costs from the new Flooring North America order system was within the expected range, and service has returned to historical rates. Our earnings performance primarily benefited from productivity gains, restructuring actions and a lower tax rate, which partially offset pricing pressure and higher input costs. During the quarter, we purchased 225,000 shares of stock for approximately $26 million.
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