Home furnisher Ethan Allen releases Q1 financial results
24 Oct '05
3 min read
One stop Home Furnishings Resource Ethan Allen Interiors Inc reported sales and earnings for the first quarter ended September 30, 2005.Net delivered sales for the first quarter ended September 30, 2005 increased 9.1 percent to $251.3 million from $230.3 million in the prior year quarter. Net delivered sales for the Company's Retail division increased 11.8 percent to $158.4 million, while Wholesale sales increased 10.6 percent to $178.4 million during that same period.
Comparable Ethan Allen store delivered sales increased 8.8 percent over the prior year quarter. During that same period, Retail division written sales increased 18.1 percent while comparable store written sales increased 15.4 percent.
The Company previously announced, on September 7, 2005, the planned conversion of one of its existing manufacturing facilities into a regional distribution center. In connection with this announcement, the Company recorded a pre-tax restructuring and impairment charge of $4.2 million ($2.6 million, after-tax), or $0.08 per share, in the quarter ended September 30, 2005.
For the first quarter ended September 30, 2005, earnings per share, which includes the aforementioned pre-tax restructuring and impairment charge, amounted to $0.49 on net income of $17.1 million. This compares to earnings per share and net income of $0.51 and $18.8 million, respectively, in the prior year comparable period. Excluding the impact of the restructuring and impairment charge, earnings per share for the current quarter amounted to $0.57 on net income of $19.7 million.
marketing@alchempro.com
