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
    

DIXIEGROUPA591.JPG

 
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


 


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,
2020 		December 28,
2019 		December 26,
2020 		December 28,
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 


-MORE-