2005 Post 200
American Woodmark Corp.
3102 Shawnee Dr.
Winchester, Va. 22601
www.americanwoodmark.com
Industry: Manufacturing
Post 200 Category: Top 125 Companies
Revenue: $667.55 Million
Net Income/Loss: $31.71 Million
Earnings per share: $3.80
Dividend: $0.20
Stockholder equity: $193.15 Million
Auditor: KPMG LLP
Stock: AMWD
Assets: $307.05 Million
Market capitalization: $565.27 Million
52-week high: 48.75 1/10/2005
52-week low: 26.56 6/15/2004
Chairman and CEO: James J. Gosa
EVP: Kent B. Guichard
Employees: 6100
Local employees: 1000
Description: American Woodmark makes and distributes kitchen cabinets and bath vanities for new and remodeled homes. It is one of the three largest kitchen cabinet manufacturers in the nation. Its cabinets are also used in home offices, laundry rooms, butler's pantries and entertainment centers. The company markets its products under the brands American Woodmark, Shenandoah Cabinetry and Timberlake. It sells its products to major builders, independent distributors, Home Depot and Lowe's.
Developments: American Woodmark did not meet its profit targets in 2004 because it was hit by a combination of higher fuel prices, increased costs for raw materials and the weaker U.S. dollar that made its international materials more expensive. The price increase for raw materials, including lumber, plywood and particleboard, was the primary reason for the shortfall, as demand exceeded industry capacity. Imported hardware from Europe was more expensive because of the weakness of the dollar. Freight expenses also continued to trouble the company, according to its report from the third quarter of 2005, which ended Jan. 31. Its freight costs increased because of a shortage of drivers and higher fuel costs. But the company's net sales increased because of the growth in the new construction and remodeling sectors. Last year, American Woodmark upgraded its CabinetTracker.com Web site so customers who order cabinets at Home Depot or Lowe's can review and track their orders. In 2005, the company said it offset the increased costs for raw materials by substituting materials, changing its processes and increasing its prices. American Woodmark operates 15 manufacturing facilities and 10 service centers nationally. A 16th manufacturing plant will be built this year in Garrett County, Md.