Flexsteel Posts Annual Income of $10.8 Million

August 18, 2010  by in UnCategorized   

By Home Furnishings Business in on August 19, 2010 Flexsteel Inds. (NASDAQ: FLXS) reported net income for the fiscal year ended June 30 of $10.8 million, compared to a loss of $1.5 million in the prior year.

Net sales for the year were $326.5 million, a 1 percent increase compared to $324.2 million in the previous year.

Net income for the fourth quarter was  $4.1 million, compared to a net income of $800,000 during the same quarter last year. Net sales for the fourth quarter were $85.6 million, a 15 percent increase compared to $74.6 million in the same quarter last year.

Residential sales for the year were $246 million, a 7 percent increase compared to $230.7 million in the previous year. Residential sales for the fourth quarter were $65.7 million, a 15 percent increase from the $57 million posted in the same quarter last year.

The company's entire release can be seen here.