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Dixie (DXYN)

The Dixie Group is a leading marketer and manufacturer of carpet and rugs to higher-end residential and commercial customers through the Fabrica International, Masland Carpets, Dixie Home, AtlasMasland, and Dixie International brands.

Company profile

Ticker
DXYN
Exchange
CEO
Daniel Frierson
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
Former names
DIXIE YARNS INC
SEC CIK
Subsidiaries
TDG Operations, LLC ...
IRS number
620183370

DXYN stock data

Calendar

8 Aug 22
9 Aug 22
31 Dec 22
Quarter (USD) Jun 22 Mar 22 Dec 21 Sep 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 21 Dec 20 Dec 19 Dec 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 893K 893K 893K 893K 893K 893K
Cash burn (monthly) 3K 125.42K 1.34M 332.25K 580.33K 567.25K
Cash used (since last report) 4.51K 188.37K 2.01M 499.01K 871.61K 851.96K
Cash remaining 888.49K 704.63K -1.12M 393.99K 21.39K 41.04K
Runway (months of cash) 296.2 5.6 -0.8 1.2 0.0 0.1

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
9 Jun 22 Thomas Martin Nuckols Common Stock, $3 par value Grant Acquire A No No 0 0 0 127,882
6 Jun 22 Thomas Martin Nuckols Common Stock, $3 par value Grant Acquire A No No 0 12,000 0 139,882
1 Jun 22 W Derek Davis Common Stock, $3 par value Grant Acquire A No No 0 8,880 0 160,571
1 Jun 22 Thomas Martin Nuckols Common Stock, $3 par value Grant Acquire A No No 0 10,483 0 127,882
1 Jun 22 Allen L Danzey Common Stock, $3 par value Grant Acquire A No No 0 7,721 0 66,424
54.5% owned by funds/institutions
13F holders Current Prev Q Change
Total holders 33 42 -21.4%
Opened positions 1 7 -85.7%
Closed positions 10 4 +150.0%
Increased positions 6 15 -60.0%
Reduced positions 9 7 +28.6%
13F shares Current Prev Q Change
Total value 23.59M 44.67M -47.2%
Total shares 8.15M 8.47M -3.8%
Total puts 29.3K 34.7K -15.6%
Total calls 48.2K 67.2K -28.3%
Total put/call ratio 0.6 0.5 +17.7%
Largest owners Shares Value Change
Hodges Capital Management 2.24M $6.94M +2.1%
Gendell Jeffrey L 1.4M $4.34M 0.0%
Royce & Associates 899.47K $2.79M +1.5%
Jeffrey L Gendell Et Al 832.88K $916K 0.0%
Vanguard 535.19K $1.66M 0.0%
MS Morgan Stanley 491.62K $1.52M -0.5%
BLK Blackrock 310.13K $961K -0.5%
Bridgeway Capital Management 210.2K $652K 0.0%
Blair William & Co 190.61K $591K -9.6%
Essex Investment Management 154.18K $478K +2.5%
Largest transactions Shares Bought/sold Change
EAM Investors 0 -265.13K EXIT
First Eagle Investment Management 136.87K +74.59K +119.8%
Renaissance Technologies 146.4K -71.8K -32.9%
Hodges Capital Management 2.24M +46.7K +2.1%
Perritt Capital Management 0 -40K EXIT
Marshall Wace 0 -25.17K EXIT
Blair William & Co 190.61K -20.28K -9.6%
GWM Advisors 14.33K -15.44K -51.9%
Royce & Associates 899.47K +13.34K +1.5%
AMP Ameriprise Financial 0 -10.84K EXIT

Financial report summary

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Risks
  • Raw material prices will vary and the inability to either offset or pass on such cost increases or avoid passing on decreases larger than the cost decrease to our customers could have a material adverse effect on our business, results of operations and financial condition.
Management Discussion
  • Net Sales. Net sales for the year ended December 25, 2021 were $341.2 million compared with $250.9 in the year-earlier period, an increase of 36.0% for the year-over-year comparison. Net sales in 2020 were heavily impacted by the initial outbreak of the COVID-19 pandemic. After the initial impact of the pandemic in the second quarter of 2020, sales demand began to increase in line with the demand in the residential housing market.
  • Gross Profit. Gross profit, as a percentage of net sales, decreased .3 percentage points in 2021 compared with 2020. The Company saw significant increases in raw material costs throughout 2021. Increases in the price of our products were implemented on a delayed basis after the initial impact of the cost increase. These cost increases created an inflationary impact that increased our LIFO reserve on inventory for continuing operations by $16.2 million in 2021 which negatively impacted our margins. These increased costs were partially offset by higher absorption of fixed costs due to increased sales volume in 2021.
  • Selling and Administrative Expenses. Selling and administrative expenses were $67.9 million in 2021 compared with $58.2 million in 2020, but lower as a percentage of the higher sales volume. Selling and administrative expenses as a percent of the net sales for 2021 and 2020 were 19.9% and 23.2% respectively. The increase in selling and administrative expenses in 2021 was the result of increased investment in samples, marketing and travel expense in 2021 after the reduced spending in these areas in 2020 due to the pandemic.

Content analysis

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