Revenue during the quarter went down marginally by 2.85 percent to $313.40 million from $322.60 million in the previous year period. Gross margin for the quarter expanded 130 basis points over the previous year period to 21.67 percent. Total expenses were 95.50 percent of quarterly revenues, down from 96.40 percent for the same period last year. This has led to an improvement of 90 basis points in operating margin to 4.50 percent.

Operating income for the quarter was $14.10 million, compared with $11.60 million in the previous year period.

However, the adjusted EBITDA for the quarter stood at $30.40 million compared with $24.30 million in the prior year period. At the same time, adjusted EBITDA margin improved 217 basis points in the quarter to 9.70 percent from 7.53 percent in the last year period.

"Our operational enhancements were evident during the quarter with adjusted EBITDA growth of 25% to $30.4 million and adjusted EBITDA margin of 9.7%," said Don Maier, chief executive officer. "We are steadily strengthening our balance sheet position and generating meaningful cash flow to deliver positive free cash flow for 2016. Our Luxury Vinyl Tile ("LVT") business continued to outpace the broader market with double digit growth, particularly in residential end markets. That said, overall end markets were soft, creating heightened competitive dynamics and pricing pressure. Amid that backdrop, we are encouraged by our ability to deliver another quarter of adjusted EBITDA gains which reflects dedicated efforts to build value through our strategic priorities to achieve our medium term goals."