Ethen Allen announces quarterly & fiscal year results
30 Jul '05
6 min read
Total written orders increased 5.4 percent as compared to the prior year quarter. At the Wholesale level, net orders booked increased 4.1 percent, while at the Retail level, written sales increased 8.6 percent and comparable store written sales increased 5.8 percent.
During the current quarter, the Company utilized $22.6 million of available cash from operations to repurchase 716,900 million shares of its common stock in the open market. As of June 30, 2005, the Company has a remaining authorization to repurchase an additional 2.0 million shares.
Year Ended June 30, 2005
For the fiscal year ended June 30, 2005, net sales amounted to $949.0 million as compared to $955.1 million in the prior year. Net delivered sales for the Company's Retail division increased 1.7 percent to $586.2 million, while Wholesale sales decreased 1.6 percent to $663.2 million. Full year comparable Ethan Allen store delivered sales decreased 0.2 percent as compared to the prior year.
Fiscal year earnings per share totaled $2.19 on net income of $79.3 million. This compares to earnings per share and net income of $2.08 and $79.5 million, respectively, for the prior year, which included pre-tax restructuring and impairment charges of $12.5 million. Excluding the impact of the restructuring and impairment charges, prior year earnings per share amounted to $2.28 on net income of $87.2 million.
Total year operating income amounted to $128.9 million, or 13.6 percent of net sales, as compared to operating income of $126.4 million, or 13.2 percent of net sales, in the prior year, which included the aforementioned restructuring and impairment charges. Excluding the impact of the restructuring and impairment charges, operating income for the prior year amounted to $138.9 million, or 14.5 percent of net sales.
marketing@alchempro.com
