Flexsteel Improves 3Q Profit on Higher Sales

April 20, 2010  by in UnCategorized   

By Home Furnishings Business in Financial Reports on April 21, 2010

Flexsteel Industries Inc. (NASDAQ:FLXS), Dubuque, Iowa, on Tuesday reported net income for its third fiscal quarter of $2.3 million on sales of $81.5 million, which were up 11 percent from the prior year quarter when the company lost $1.9 million.

Sales for the nine-month period ended March 31 of $240.9 million were down 3.5 percent compared with the same point last year; but Flexsteel has net income of $6.7 million through three quarters compared with a loss of $2.3 million compared with last year at the same time.

Third-quarter residential net sales rose 15 percent from the prior year to $61.6 million; and were up 4 percent through nine months to $180.3 million.

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