8-K

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):			August 20, 2015
American Woodmark Corporation
(Exact name of registrant as specified in its charter)
Virginia	000-14798		54-1138147
(State or other jurisdiction	(Commission		(IRS Employer
of incorporation)	File Number)		Identification No.)
3102 Shawnee Drive, Winchester, Virginia		22601
(Address of principal executive offices)		(Zip Code)
Registrant’s telephone number, including area code:			(540) 665-9100
Not applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

American Woodmark Corporation

ITEM 2.02    RESULTS OF OPERATIONS AND FINANCIAL CONDITION

On August 20, 2015, the Registrant issued a press release announcing results for its first quarter of fiscal year 2016 ended July 31, 2015. The press release is attached hereto as Exhibit 99.1 and incorporated herein by reference.

ITEM 9.01    FINANCIAL STATEMENTS AND EXHIBITS

(d)    Exhibits

Exhibit 99.1    Registrant’s Press Release dated August 20, 2015.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

AMERICAN WOODMARK CORPORATION

(Registrant)

/s/ M. SCOTT CULBRETH	/s/ KENT B. GUICHARD
M. Scott Culbreth	Kent B. Guichard
Senior Vice President and Chief Financial Officer	Chairman & Chief Executive Officer
Date: August 20, 2015	Date: August 20, 2015
Signing on behalf of the registrant and as principal financial officer	Signing on behalf of the registrant and as principal executive officer

EX-99.1

Exhibit 99.1

P. O. Box 1980

Winchester, VA 22604-8090

Contact: Glenn Eanes Vice President and Treasurer 540-665-9100

AMERICAN WOODMARK CORPORATION

ANNOUNCES FIRST QUARTER RESULTS

WINCHESTER, Virginia (August 20, 2015) -- American Woodmark Corporation (NASDAQ: AMWD) today announced results for its first fiscal quarter ended July 31, 2015.

Net sales for the first fiscal quarter increased 9% to $231.2 million compared with the same quarter of the prior fiscal year. The Company experienced growth in both the dealer and new construction channels during the first quarter of fiscal year 2016.

Net income was $15.2 million ($0.92 per diluted share) for the first quarter of the current fiscal year compared with $9.2 million ($0.59 per diluted share) for the first quarter of the prior fiscal year.

Gross profit for the first quarter of the current fiscal year was 21.7% of net sales compared with 17.5% in the same quarter of the prior year. Gross profit in the current quarter was favorably impacted by higher sales volume and improved operating efficiency.

Selling, general and administrative costs for the first quarter of the fiscal year 2016 were 11.4% of net sales compared with 11.3% in the same quarter of the prior year. The increase in the Company’s operating expense ratio was driven by increased performance based compensation costs.

The Company generated net cash from operating activities of $15.0 million during the first quarter of fiscal year 2016 compared with $9.3 million during the same period in the prior year. The improvement in the Company’s cash from operating activities was driven primarily by higher operating profitability. Net cash used by investing activities was $15.3 million during the first quarter of the current fiscal year compared with $3.3 million during the same period of the prior year due primarily to increased investment in property, plant and equipment. Net cash provided by financing activities was $3.8 million during the first quarter of the current fiscal year compared with a $3.6 million use of cash during the same period of the prior year. The company repurchased 30,555 shares of common stock at a cost of $1.8 million, a $2.3 million reduction from the prior year, and realized increased proceeds from the exercise of stock options of $3.0 million.

American Woodmark Corporation manufactures and distributes kitchen cabinets and vanities for the remodeling and new home construction markets. Its products are sold on a national basis directly to home centers, major builders and through a network of independent distributors. The Company presently operates nine manufacturing facilities and seven service centers across the country.

Safe harbor statement under the Private Securities Litigation Reform Act of 1995: All forward‑looking statements made by the Company involve material risks and uncertainties and are subject to change based on factors that may be beyond the Company's control. Accordingly, the Company's future performance and financial results may differ materially from those expressed or implied in any such forward-looking statements. Such factors include, but are not limited to, those described in the Company's

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AMWD Announces First Quarter Results

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August 20, 2015

filings with the Securities and Exchange Commission and the Annual Report to Shareholders. The Company does not undertake to publicly update or revise its forward looking statements even if experience or future changes make it clear that any projected results expressed or implied therein will not be realized.

AMERICAN WOODMARK CORPORATION
Unaudited Financial Highlights
(in thousands, except share data)
Operating Results
		Three Months Ended
		July 31
		2015		2014
Net Sales		$	231,198	$	211,917
Cost of Sales & Distribution		181,025		174,803
	Gross Profit	50,173		37,114
Sales & Marketing Expense		15,719		15,515
G&A Expense		10,731		8,411
Restructuring Charges, net		—		3
	Operating Income	23,723		13,185
Interest & Other (Income) Expense		2		131
Income Tax Expense		8,563		3,816
	Net Income	$	15,158	$	9,238
Earnings Per Share:
Weighted Average Shares Outstanding - Diluted		16,421,230		15,768,884
Income Per Diluted Share		$	0.92	$	0.59

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AMWD Announces First Quarter Results

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August 20, 2015

Condensed Consolidated Balance Sheet
(Unaudited)
		July 31		April 30
		2015		2015
Cash & Cash Equivalents		$	153,020	$	149,541
Investments - certificates of deposit		37,750		35,500
Customer Receivables		53,106		46,142
Inventories		37,004		35,988
Other Current Assets		14,411		14,324
	Total Current Assets	295,291		281,495
Property, Plant & Equipment		94,387		85,516
Other Assets		32,915		31,893
	Total Assets	$	422,593	$	398,904
Current Portion - Long-Term Debt		$	1,511	$	1,457
Accounts Payable & Accrued Expenses		88,556		83,333
	Total Current Liabilities	90,067		84,790
Long-Term Debt		21,287		21,498
Other Liabilities		61,975		62,774
	Total Liabilities	173,329		169,062
Stockholders' Equity		249,264		229,842
	Total Liabilities & Stockholders' Equity	$	422,593	$	398,904

Condensed Consolidated Statements of Cash Flows
(Unaudited)
	Three Months Ended
	July 31
	2015			2014
Net Cash Provided by Operating Activities	$	15,017		$	9,267
Net Cash Used by Investing Activities	(15,295		)	(3,272		)
Net Cash Provided (Used) by Financing Activities	3,757			(3,574		)
Net Increase in Cash and Cash Equivalents	3,479			2,421
Cash and Cash Equivalents, Beginning of Period	149,541			135,700
Cash and Cash Equivalents, End of Period	$	153,020		$	138,121

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