Flexsteel Industries, Inc. Reports Earnings Results for the Second Quarter Ended December 31, 2019
January 27, 2020 at 09:05 pm
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Flexsteel Industries, Inc. announced earnings results for the second quarter ended December 31, 2019. For the second quarter, the company announced sales was USD 102.949 million compared to USD 118.352 million a year ago. Operating loss was USD 7.079 million compared to operating Income of USD 2.103 million a year ago. Net loss was USD 5.384 million compared to net income of USD 1.566 million a year ago. Basic loss per share was USD 0.68 compared to basic earnings per share of USD 0.2 a year ago. For the half year, sales was USD 203.297 million compared to USD 231.839 million a year ago. Operating income was USD 5.604 million compared to USD 3.698 million a year ago. Net income was USD 4.167 million compared to USD 2.862 million a year ago. Basic earnings per share was USD 0.53 compared to USD 0.36 a year ago. Diluted earnings per share was USD 0.51 compared to USD 0.36 a year ago.
Flexsteel Industries, Inc. is a manufacturer, importer, and marketer of residential furniture products in the United States. The Companyâs furniture products business involves the distribution of manufactured and imported products consisting of a broad line of furniture for the residential market. The Companyâs product offerings include a variety of furniture, such as sofas, loveseats, chairs, reclining rocking chairs, swivel rockers, sofa beds, convertible bedding units, occasional tables, desks, dining tables and chairs, kitchen storage, bedroom furniture, and outdoor furniture. The Company distributes its products throughout the United States through its e-commerce channel and direct sales force. The Company operates manufacturing facilities located in Dublin, Georgia, and Juarez, Mexico. The Company utilizes various types of wood, fabric, leather, filling material, high carbon spring steel, bar and wire stock, polyurethane foam and other raw materials in manufacturing furniture.
FLEXSTEEL INDUSTRIES, INC. 
