American Woodmark Corp.
3102 Shawnee Dr.
Winchester, Va. 22601
www.americanwoodmark.com Year founded: 1980 Industry: Manufacturing Revenue: $563.47 Million Net Income/Loss: $32.70 Million Earnings per share: $3.89 Dividend: $0.20 Stockholder equity: $160.10 Million Auditor: Ernst & Young LLP Stock: AMWD Assets: $262.73 Million Market capitalization: $546.50 Million 52-week high: 69.19 4/5/2004 52-week low: 42.51 10/10/2003 President and CEO: James J. Gosa CFO: Kent B. Guichard Employees: 5220 Local employees: n/a Description: American Woodmark makes kitchen cabinets and vanities for remodeling and new homes, selling to home centers and builders. It began life as a management buyout of Boise Cascade Corp.'s cabinet unit in 1980. At the time, it had $30 million in sales. Now it sells more than half a billion dollars worth of these products, which makes it the nation's third-largest cabinet manufacturer. It operates 13 plants nationwide. Developments: Near-record-low interest rates meant busy times for homebuilders in the last few years, and American Woodmark went along for the ride. Sales rose 13 percent in the fiscal year ending April, 2003 and jumped 19 percent in the third quarter ending Jan. 31, 2004, the most recent quarter the company has reported. It was hot sales of new homes that accounted for this stronger-than-expected growth, as well as the remodelling business, as do-it-yourselfers snatched up stuff at home centers like Lowe's and Home Depot. But the company had to battle rising benefit costs for its workers and the heavy proportion of less profitable products in its sales, meaning its gross profit margin of almost 21 percent wasn't up to the margin of as much as 25 percent the company has targeted. The stock has often been a favorite of investors. As interest rates start to rise, though, home sales could slip, and American Woodmark's wild ride could slow too.That hasn't put much of a dent in the stock yet: It hit its 52-week high of almost $70 recently, up from a low of around $43 in the fall. Executive Compensation
President and CEO: James J. Gosa
Total Cash: $1,033,703.00
Total Compensation: $3,055,368.00
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