U.S. – American Woodmark Corporation, the country’s second largest kitchen cabinet manufacturer, announced results for its fourth fiscal quarter and current fiscal year, which ended April 30, 2019.

Net sales for the fourth fiscal quarter increased 0.4% to USD 407 million compared with the same quarter of the prior fiscal year. Net sales for the current fiscal year increased 32% to USD 1,645 million from the prior fiscal year. The Company experienced growth in the builder channel and independent dealers and distributors channel during the fourth quarter of fiscal year 2019.

Adjusted EBITDA for the fourth fiscal quarter was USD 63.8 million, or 15.7% of net sales, compared to USD 65.3 million, or 16.1% of net sales, for the same quarter of the prior fiscal year. Adjusted EBITDA for the current fiscal year was USD 244.9 million, or 14.9% of net sales, compared to USD 175.8 million, or 14.1% of net sales, for the prior fiscal year.

“Volatility by channel continued into our fourth fiscal quarter,” said Cary Dunston, Chairman and CEO. “We experienced solid growth in the builder channel, and independent dealer and distributor channel, however the home center channel proved to be challenging. Despite the lower growth and market cost headwinds, we continued to gain cost leverage through our integration work and are pleased with our adjusted EBITDA performance. Despite the quarter-to-quarter uncertainty in the market, we remain very confident in the underlying industry fundamentals and our ability to grow in all channels.”

American Woodmark Corporation manufactures and distributes kitchen, bath and home organization furniture for the remodeling and new home construction markets. Its products are sold on a national basis directly to home centers, builders and through a network of independent dealers and distributors. As of April 30, 2019, the Company operated eighteen manufacturing facilities in the United States and Mexico and eight primary service centers located throughout the United States.