Sales Up at Ethan Allen

July 20, 2010  by in UnCategorized   

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

Furniture manufacturer and store network operator Ethan Allen Interiors Inc., Danbury, Conn., (NYSE:ETH) anticipates an 18 percent fourth-quarter sales increase.

That word came in an announcement of a regular quarterly 5-cents-a-share cash dividend payable Oct. 25 to shareholders of record Oct. 11.

Ethan Allen Chairman and CEO said the furniture manufacturer and retailer also expects fourth-quarter bottom-line improvement.

"While we plan to announce our earnings on August 5, we are pleased to report net sales for the quarter ended June 30, 2010, were approximately $163 million, an increase of 18 percent from the same quarter last year," Kathwari said. "We expect our diluted earnings per share for our fourth fiscal quarter to be in the range of $0.30 to $0.32 compared to a loss per share of $0.23 in the previous year quarter, excluding restructuring, impairment, and related transition costs in both periods."

Kathwari added that written retail division written business increased 23 percent compared with the prior year fourth quarter. A conference call to discuss the fourth quarter and 2010 fiscal year is scheduled for August 5 at 11 a.m. EDT.