Flexsteel Posts Net Income of $2.3 Million in 1Q

October 19, 2010  by in UnCategorized   

By Home Furnishings Business in Financial Reports on October 20, 2010 Flexsteel Inds. (NASDAQ: FLXS) earned $2.3 million in the first quarter ended Sept. 30, compared to net income of $1.4 million for the same quarter last year.

Net sales for the quarter were $87.2 million, a 15 percent increase compared to net sales of $75.9 million during the first quarter last year. Residential net sales were $65.2 million in the current quarter, an increase of 16 percent from the prior year quarter residential net sales of $56.2 million. Commercial net sales were $22.0 million compared to $19.7 million in the prior year quarter, an increase of 12 percent.

Read Flexsteel's complete first quarter earnings release online.