Armstrong flags in Q4, up for year

LANCASTER, Pa. — Armstrong World Industries reported steeper quarterly losses with a Q4 net loss of $13.8 million, compared to $3.6 million the same time last year. Sales dropped 1.7% from $587.3 million to $577.4 million, thanks to exchange rates. The results were further impacted by $17.5 million in costs associated with the spinoff of the company’s flooring business, due to take place April 1. For the fiscal year, net profits rose 47.6% to $94.2 million, up from $63.8 million in 2014, buoyed by the sale of the European flooring business. Sales fell 3.8% from $2.52 billion to $2.42 billion.