• Profitable mattress fabrics and upholstery fabrics businesses with a leading market share
• Growth in U.S. housing and expected pent-up demand for home furnishings
• Scalable Asian and multi-country platform
• Significant free cash flow generation over multiple years
• Strong balance sheet position and disciplined use of capital
• Strong innovation and design capabilities in both businesses
• Significant funds returned to shareholders
• Focused on product innovation and creativity to drive sales and profits
• Implemented major plant consolidation and cost-management projects in mattress fabrics operations in U.S. and Canada
• Expanded cut and sewn mattress covers in both Haiti and Asia
• Sold ownership interest company’s e-commerce and finished products business to focus on core businesses and enhance liquidity during COVID-19 pandemic
• Repurposed available operations to produce face masks, bedding covers, and fabrics for healthcare and consumer health in order to support relief efforts as an essential business during COVID-19 pandemic.
• Continued focus on expanding business with large key and new customers
• Leading supplier of mattress fabrics and covers across all price points and styles
• Global, multi-country cut and sew platform
• Design creativity, product innovation, and POP marketing services
• Flexible and scalable global manufacturing platform
• Reactive manufacturing with repetitive capabilities
• World class customer service and distribution
• Globally competitive cost structure
• Financial strength supports growth strategy
• Trusted strategic partner willing to invest for the long term
• Product innovation and design trend leader
• Diverse product mix
• Globally competitive cost structure
• Experienced management team throughout the global organization
• Exceptional quality, service, and delivery performance
• Acquisition of Read Window Products expands business in hospitality market
• Stable and reliable global supply platform
• Trusted business partner with financial strength to best support customers and stakeholders
• Fund working capital and capital expenditure requirements for organic growth
• Pay down debt as required
• Pay quarterly cash dividend
• Evaluate strategic acquisition opportunities
• Consider share repurchases at a target price
• Consider payment of a special dividend assuming adequate cash, satisfaction of capital allocation priorities, and no major economic concerns
• Build excess cash if decide against share repurchases or special dividend
| Date Requested | Closing Price | Volume | Split Adjustment Factor | Open Price | Day High | Day Low |
|---|---|---|---|---|---|---|
| November 22, 2021 | $10.81 | 29,543 | 1:1 | $11.45 | $11.48 | $10.56 |
| November 23, 2021 | $10.58 | 22,072 | 1:1 | $10.80 | $10.80 | $10.58 |
| November 24, 2021 | $10.56 | 27,730 | 1:1 | $10.60 | $10.60 | $10.25 |
| November 26, 2021 | $10.48 | 5,623 | 1:1 | $10.40 | $10.48 | $10.11 |
Data Provided by Refinitiv. Minimum 15 minutes delayed.