Armstrong World Industries, Inc. (AWT) is engaged in the design and manufacturing commercial and residential ceiling, wall and suspension system solutions. Company designs, manufactures and sells ceiling systems (primarily mineral fiber, fiberglass wool and metal) throughout the Americas. AWT operates through three business segments: Mineral Fiber, Architectural Specialties and Unallocated Corporate. Company’s mineral fiber segment produces suspended mineral fiber and soft fiber ceiling systems for use in commercial and residential settings. Architectural specialties segment produces and sources ceilings and walls for use in commercial settings. AWT’s Unallocated Corporate segment includes assets, liabilities, income and expenses that have not been allocated to its other business segments and consist of: cash and cash equivalents, the net funded status of our U.S. Retirement Income Plan (RIP), the estimated fair value of interest rate swap contracts, outstanding borrowings under its senior credit facilities and income tax balances.
For the fiscal year ended December 2017, company’s revenues increased $56.3 million or 6.7% to $893.6 million, as compared to the revenues in fiscal 2016. Increase in consolidated net sales was due to favorable average unit value (AUV) of $29 million and higher volumes of $27 million.
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