Ethen Allen announces quarterly & fiscal year results
30 Jul '05
6 min read
Danbury based home furnishing maker Ethan Allen Interiors Inc reported sales and earnings for the three and twelve months ended June 30, 2005.
Three Months Ended June 30, 2005 Net delivered sales for the quarter ended June 30, 2005 amounted to $242.3 million as compared to $246.6 million in the prior year quarter. Net delivered sales for the Company's Retail division increased 1.1 percent to $151.4 million, while Wholesale sales decreased 0.3 percent to $171.8 million during that same period. Comparable Ethan Allen store delivered sales decreased 1.3 percent as compared to the prior year quarter.
Earnings per share amounted to $0.56 for the current quarter on net income of $19.5 million. This compares to earnings per share and net income of $0.35 and $13.5 million, respectively, in the prior year comparable period, which included pre-tax restructuring and impairment charges of $12.8 million. Excluding the impact of the restructuring and impairment charges, earnings per share for the prior year quarter amounted to $0.56 on net income of $21.3 million.
Current quarter operating income amounted to $32.1 million, or 13.3 percent of net sales. This compares to operating income of $21.9 million, or 8.9 percent of net sales, in the prior year comparable quarter, which included the aforementioned restructuring and impairment charges. Excluding the impact of the restructuring and impairment charges, operating income for the prior year period amounted to $34.7 million, or 14.1 percent of net sales.
marketing@alchempro.com
