Flexsteel 2Q Net Income Slides

February 3, 2011  by in UnCategorized   

By Home Furnishings Business in Case Goods on February 4, 2011 Flexsteel Inds. (NASDAQ: FLXS) reported net income of $2.1 million for the second quarter ended Dec. 31, compared to net income of $3 million during the same period last year.

Net sales for the period were $82.8 million, compared to net sales of $83.5 million in the prior year second quarter.

For the six months ended Dec. 31, the company reported net sales of $170.1 million, a 6.6 percent increase over sales of $159.5 million in the prior year. Net income for the six months, was $4.5 million, compared to net income of $4.3 million in the same period last year.

For the quarter ended Dec. 31, residential net sales were $63.5 million, an increase of 1.5 percent from the prior year quarter net sales of $62.6 million. For the six month period, residential net sales were $128.8 million compared to residential net sales of $118.8 million in the first half of last year, an increase of 8.4 percent.

The complete earnings release can be found online.