American Woodmark history

In 1982, however, American Woodmark's fortunes began to improve as interest rates dropped and the economy started picking up.

In 1985, the industry as a whole sold some $2.5 billion worth of cabinets and vanities, with slightly more than half of these sold to go into new homes and the rest for remodeling.

In fiscal 1987, the company offered 18 lines of cabinets and sales topped $100 million for the first time, reaching $116 million.

The cabinets were sold under the brand names American Woodmark Cabinets, Coventry & Chase Cabinets, and Timberlake Cabinets, introduced in April 1990.

James J. "Jake" Gosa, who had been with American Woodmark since 1991, was named president and CEO. In August that year, following two quarters of record earnings and increased financial strength, the company paid its first quarterly cash dividend to shareholders.

In fiscal 1993, four years into the restructuring plan, revenues finally began growing again, with a 22 percent jump to $167.3 million, and the company issued a special ten percent stock dividend, payable in common stock.

By fiscal 1995, sales had reached $197.4 million.

1996: American Woodmark pays first quarterly cash dividend.

The company now offered some 130 lines of framed stock cabinets, with 40 different door designs, seven colors, and four types of wood, including hickory, introduced in fiscal 1998.

These two chains were expected to grow their stores to 2,000 by the year 2003, and American Woodmark planned to grow with them.