USA - American Woodmark Corporation, one of the largest kitchen cabinet manufacturers in North America,  announced results for its fourth fiscal quarter ended April 30, 2021.

Net sales for the fourth fiscal quarter increased USD 74.2 million, or 18.6%, to USD 473.4 million compared with the same quarter of the prior fiscal year. The Company experienced double-digit growth across all channels (repair and remodel and new construction) during the fourth quarter of fiscal 2021 as market demand recovered with consumer confidence remaining strong. Net sales for the current fiscal year increased USD 93.7 million, or 5.7%, to USD 1,744.0 million from the prior fiscal year.

Adjusted EBITDA for the fourth fiscal quarter was USD 47.2 million, or 10.0% of net sales, compared to USD 53.4 million, or 13.4% of net sales, for the same quarter of the prior fiscal year. Adjusted EBITDA for the current fiscal year was USD 223.2 million, or 12.8% of net sales, compared to USD 236.0 million, or 14.3% of net sales, for the prior fiscal year.

"During the fourth quarter of fiscal 2021, our teams delivered exceptional sales growth across all channels and were able to restructure our debt to increase liquidity and reduce interest expense," said Scott Culbreth, President and CEO. "Our focus remains on increasing production to match the strong demand environment and mitigate inflationary pressures in material, logistics and labor through pricing and productivity."