8-K
DIXIE GROUP INC (DXYN)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant To Section 13 OR 15(d) Of The Securities Exchange Act Of 1934
Date of Report (Date of earliest event reported): March 4, 2021
THE DIXIE GROUP, INC.
(Exact name of Registrant as specified in its charter)
| Tennessee | 0-2585 | 62-0183370 |
|---|---|---|
| (State or other jurisdiction of incorporation) | (Commission File Number) | (I.R.S. Employer Identification No.) |
| 475 Reed Road, Dalton, GA | 30720 | |
| --- | --- | |
| (Address of principal executive offices) | (zip code) | |
| 706-876-5800 | ||
| (Registrant's telephone number, including area code) |
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 7.01. Regulation FD Disclosure.
The registrant furnishes the fourth quarter 2020 Statement of Operations attached as Exhibit 10.1 to supplement its disclosure of financial information filed March 4, 2021 on Form 8-K.
Item 9.01. Financial Statements and Exhibits.
(c) Exhibits
(10.1) Fourth Quarter 2020 Statement of Operations.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Date: March 4, 2021 | THE DIXIE GROUP, INC. |
|---|---|
| /s/ Allen L. Danzey | |
| Allen L. Danzey | |
| Chief Financial Officer |
Document
Exhibit 10.1
THE DIXIE GROUP, INC.
Consolidated Condensed Statements of Operations
(unaudited; in thousands, except earnings per share)
| Three Months Ended Twelve Months Ended | ||||||||
|---|---|---|---|---|---|---|---|---|
| December 26,<br>2020 | December 28,<br>2019 | December 26,<br>2020 | December 28,<br>2019 | |||||
| NET SALES | $ | 88,618 | $ | 90,135 | $ | 315,939 | $ | 374,582 |
| Cost of sales | 65,640 | 67,415 | 239,483 | 288,377 | ||||
| GROSS PROFIT | 22,978 | 22,720 | 76,456 | 86,205 | ||||
| Selling and administrative expenses | 19,477 | 20,015 | 75,731 | 83,825 | ||||
| Other operating (income) expense, net | 55 | (24,136) | (108) | (23,988) | ||||
| Facility consolidation and severance expenses, net | 1,967 | 160 | 3,752 | 5,019 | ||||
| Impairment of assets | — | — | — | — | ||||
| OPERATING INCOME (LOSS) | 1,479 | 26,681 | (2,919) | 21,349 | ||||
| Interest expense | 1,599 | 1,358 | 5,803 | 6,444 | ||||
| Other (income) expense, net | 593 | (13) | 678 | (57) | ||||
| Income (loss) from continuing operations before taxes | (713) | 25,336 | (9,400) | 14,962 | ||||
| Income tax provision (benefit) | (312) | (683) | (312) | (657) | ||||
| Income (loss) from continuing operations | (401) | 26,019 | (9,088) | 15,619 | ||||
| Income (loss) from discontinued operations, net of tax | 83 | (305) | (120) | (348) | ||||
| NET INCOME (LOSS) | $ | (318) | $ | 25,714 | $ | (9,208) | $ | 15,271 |
| BASIC EARNINGS (LOSS) PER SHARE: | ||||||||
| Continuing operations | $ | (0.03) | $ | 1.61 | $ | (0.59) | $ | 0.96 |
| Discontinued operations | 0.01 | (0.02) | (0.01) | (0.02) | ||||
| Net income (loss) | $ | (0.02) | $ | 1.59 | $ | (0.60) | $ | 0.94 |
| DILUTED EARNINGS (LOSS) PER SHARE: | ||||||||
| Continuing operations | $ | (0.03) | $ | 1.60 | $ | (0.59) | $ | 0.95 |
| Discontinued operations | 0.01 | (0.02) | (0.01) | (0.02) | ||||
| Net income (loss) | $ | (0.02) | $ | 1.58 | $ | (0.60) | $ | 0.93 |
| Weighted-average shares outstanding: | ||||||||
| Basic | 15,242 | 15,693 | 15,316 | 15,822 | ||||
| Diluted | 15,242 | 15,801 | 15,316 | 15,926 |
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