DIXIE GROUP INC Files 10-Q for Period Ending March 30, 2024

TL;DR

<b>Dixie Group Inc. has filed its Q1 2024 10-Q report, detailing financial information for the period ending March 30, 2024.</b>

AI Summary

DIXIE GROUP INC (DXYN) filed a Quarterly Report (10-Q) with the SEC on May 3, 2024. Dixie Group Inc. filed a 10-Q report for the period ending March 30, 2024. The filing covers the first quarter of fiscal year 2024. The company's fiscal year ends on December 31st. Dixie Group Inc. is incorporated in Tennessee (TN). The company's SIC code is 2273 for Carpets and Rugs.

Why It Matters

For investors and stakeholders tracking DIXIE GROUP INC, this filing contains several important signals. This 10-Q filing provides investors with the latest quarterly financial performance and operational updates for Dixie Group Inc. Understanding the details within this report is crucial for assessing the company's current financial health and future prospects in the carpets and rugs industry.

Risk Assessment

Risk Level: low — DIXIE GROUP INC shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain immediate, significant financial distress indicators or major strategic shifts that would elevate the risk level.

Analyst Insight

Monitor future filings for revenue trends, profitability, and any changes in debt levels to assess the company's ongoing performance.

Key Numbers

• 2024-03-30 — Period End Date (CONFORMED PERIOD OF REPORT)
• 2024-05-03 — Filing Date (FILED AS OF DATE)
• 2024-12-31 — Fiscal Year End (FISCAL YEAR END)
• 2023-12-31 — Previous Year End Date (Previous Year End Date)

Key Players & Entities

• DIXIE GROUP INC (company) — FILER
• 20240330 (date) — CONFORMED PERIOD OF REPORT
• 20240503 (date) — FILED AS OF DATE
• 2273 (industry_code) — STANDARD INDUSTRIAL CLASSIFICATION
• TN (state) — STATE OF INCORPORATION
• GA (state) — BUSINESS ADDRESS
• 7068765814 (phone) — BUSINESS PHONE
• DIXIE YARNS INC (company) — FORMER COMPANY

FAQ

Industry Context

Dixie Group Inc. operates within the carpets and rugs manufacturing industry, a segment of the broader textile sector.

Regulatory Implications

The company is subject to standard SEC reporting requirements for publicly traded entities, including the filing of quarterly (10-Q) and annual (10-K) reports.

What Investors Should Do

1. Review the full 10-Q filing for detailed financial statements and management discussion.
2. Analyze segment performance if provided in the full report to understand revenue drivers.
3. Compare current quarter results to historical performance and industry benchmarks.

Key Dates

• 2024-03-30: Quarter End — End of the reporting period for the 10-Q filing.
• 2024-05-03: Filing Date — Date the 10-Q report was officially filed with the SEC.

Year-Over-Year Comparison

This filing is the first 10-Q for the fiscal year 2024, following the 10-K filed for the fiscal year ended December 31, 2023.

Key Financial Figures

• $3 — ange on which registered Common Stock, $3 Par Value DXYN NASDAQ Stock Market, LLC

Filing Documents

• dxyn-20240330.htm (10-Q) — 909KB
• ex31_1ceocertq12024.htm (EX-31.1) — 11KB
• ex31_2cfocertq12024.htm (EX-31.2) — 11KB
• ex32_1ceocertq12024.htm (EX-32.1) — 4KB
• ex32_2cfocertq12024.htm (EX-32.2) — 4KB
• dxyn-20240330_g1.jpg (GRAPHIC) — 14KB
• 0000029332-24-000036.txt (&nbsp;) — 6489KB
• dxyn-20240330.xsd (EX-101.SCH) — 57KB
• dxyn-20240330_cal.xml (EX-101.CAL) — 121KB
• dxyn-20240330_def.xml (EX-101.DEF) — 190KB
• dxyn-20240330_lab.xml (EX-101.LAB) — 575KB
• dxyn-20240330_pre.xml (EX-101.PRE) — 393KB
• dxyn-20240330_htm.xml (XML) — 932KB

FINANCIAL INFORMATION Page

PART I. FINANCIAL INFORMATION Page

Financial Statements

Item 1. Financial Statements 3 Consolidated Condensed Balance Sheets - March 30, 202 4 (Unaudited) and December 3 0 , 202 3 3 Consolidated Condensed Statements of Operations (Unaudited) - Three Months Ended March 30, 202 4 and April 1 , 202 3 4 Consolidated Condensed Statements of Comprehensive Income (Loss) (Unaudited) - Three Months Ended March 30, 202 4 and April 1 , 202 3 5 Consolidated Condensed Statements of Cash Flows (Unaudited) - Three Months Ended March 30, 202 4 and April 1 , 202 3 6 Consolidated Condensed Statements of Stockholders' Equity (Unaudited) - Three Months ended March 30, 202 4 and April 1 , 202 3 7 Notes to Consolidated Condensed Financial Statements (Unaudited) 7

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 20

Quantitative and Qualitative Disclosures about Market Risk

Item 3. Quantitative and Qualitative Disclosures about Market Risk 23

Controls and Procedures

Item 4. Controls and Procedures 24

OTHER INFORMATION

PART II. OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 25

Risk Factors

Item 1A. Risk Factors 25

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 30

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 30

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 30

Other information

Item 5. Other information 30

Exhibits

Item 6. Exhibits 30

Signatures

Signatures 31 Table of Contents 2

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements THE DIXIE GROUP, INC. CONSOLIDATED CONDENSED BALANCE SHEETS (amounts in thousands, except share data) March 30, 2024 December 30, 2023 ASSETS (Unaudited) CURRENT ASSETS Cash and cash equivalents $ 55 $ 79 Receivables, net of allowances for credit losses of $ 474 and $ 440 28,225 23,686 Inventories, net 75,041 76,211 Prepaid and other current assets 10,803 12,154 Current assets of discontinued operations 260 265 TOTAL CURRENT ASSETS 114,384 112,395 PROPERTY, PLANT AND EQUIPMENT, NET 37,660 31,368 OPERATING LEASE RIGHT-OF-USE ASSETS 28,187 28,962 OTHER ASSETS 18,039 17,130 LONG-TERM ASSETS OF DISCONTINUED OPERATIONS 1,391 1,314 TOTAL ASSETS $ 199,661 $ 191,169 LIABILITIES AND STOCKHOLDERS' EQUITY CURRENT LIABILITIES Accounts payable $ 21,819 $ 13,935 Accrued expenses 17,438 16,598 Current portion of long-term debt 3,794 4,230 Current portion of operating lease liabilities 3,713 3,654 Current liabilities of discontinued operations 1,172 1,137 TOTAL CURRENT LIABILITIES 47,936 39,554 LONG-TERM DEBT, NET 80,610 78,290 OPERATING LEASE LIABILITIES 25,081 25,907 OTHER LONG-TERM LIABILITIES 15,500 14,591 LONG-TERM LIABILITIES OF DISCONTINUED OPERATIONS 3,618 3,536 TOTAL LIABILITIES 172,745 161,878 COMMITMENTS AND CONTINGENCIES (See Note 17) STOCKHOLDERS' EQUITY Common Stock ($ 3 par value per share): Authorized 80,000,000 shares, issued and outstanding - 14,640,554 shares for 2024 and 14,409,281 shares for 2023 43,922 43,228 Class B Common Stock ($ 3 par value per share): Authorized 16,000,000 shares, issued and outstanding - 1,249,302 shares for 2024 and 1,121,129 shares for 2023 3,748 3,363 Additional paid-in capital 158,177 159,132 Accumulated deficit ( 179,194 ) ( 176,700 ) Accumulated other comprehensive income 263 268 TOTAL STOCKHOLDERS' EQUITY 26,916 29,291 TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 199,661 $ 191,169 See accompanying notes to the consolidated condensed financial statemen

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