#PEACHTREE INVENTORY WRITEDOWN FULL#

The forward-looking statements set forth above involve a number of risks and uncertainties that could cause actual results to differ materially from any such statement, including but not limited to the risks under the following subheadings in “Risk Factors” in the Company's Annual Report on Form 10-K for the fiscal year ended January 2, 2022: “The COVID-19 pandemic could have a material adverse effect on our ability to operate, our ability to keep employees safe from the pandemic, our results of operations, financial condition, liquidity, capital investments, our near term and long term ability to stay in compliance with debt covenants

#PEACHTREE INVENTORY WRITEDOWN FULL#

Forward-looking statements in this press release include, without limitation, any projections we make regarding the Company’s 2022 second quarter and full year 2022 under “Outlook” above. Forward-looking statements may be identified by words such as “may,” “expect,” “forecast,” “anticipate,” “intend,” “plan,” “believe,” “could,” 'should,' 'goal,' 'aim,' 'objective,' “seek,” “project,” “estimate,” “target,” “will” and similar expressions. Securities & Exchange Commission, which explains why Interface believes presentation of these non-GAAP measures provides useful information to investors, as well as any additional material purposes for which Interface uses these non-GAAP measures.Įxcept for historical information contained herein, the other matters set forth in this news release are forward-looking statements.

This news release should be read in conjunction with the Company's Current Report on Form 8-K furnished today to the U.S. Adjusted EBITDA is GAAP net income excluding interest expense, income tax expense, depreciation and amortization, stock compensation amortization, restructuring charges, asset impairment, severance and other charges, nora purchase accounting amortization, the Thailand plant closure inventory write-down, and the loss associated with a warehouse fire. Net debt is total debt less cash on hand. Organic sales and organic sales growth exclude the impact of foreign currency fluctuations. Adjusted SG&A expenses exclude asset impairment, severance, and other charges. Adjusted gross profit and adjusted gross profit margin exclude nora purchase accounting amortization and the Thailand plant closure inventory write-down. Adjusted EPS and adjusted net income also exclude the discontinuance of interest rate swaps.

Adjusted EPS, adjusted net income, and AOI exclude nora purchase accounting amortization, the Thailand plant closure inventory write-down, restructuring charges, asset impairment, severance and other charges. These non-GAAP measures are not in accordance with – or alternatives to – GAAP measures, and may be different from non-GAAP measures used by other companies. Interface provides adjusted earnings per share, adjusted net income, adjusted operating income ('AOI'), adjusted gross profit, adjusted gross profit margin, adjusted SG&A expenses, organic sales and organic sales growth, net debt, and adjusted EBITDA as additional information regarding its operating results in this press release.

Peachtree inventory writedown