Armstrong World net income declines in 1st quarter

Armstrong World Industries Inc., which makes flooring and building products, said Friday first-quarter profit fell 42 percent amid a difficult construction and housing environment.

Quarterly profit fell to $15.2 million, or 27 cents per share, compared with a profit of $26 million, or 46 cents per share, last year. Adjusted earnings from continuing operations totaled 35 cents per share.

Analysts, on average, predicted a profit of 30 cents per share, according to Thomson Financial.

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