Furniture Vendor Flexsteel Reports 2Q Income of $2.9M

February 2, 2012  by in UnCategorized   

By Home Furnishings Business in on February 3, 2012 Furniture supplier Flexsteel Inds. (NASDAQ: FLXS) posted net income of $2.9 million for the second quarter ended Dec. 31, compared to net income of $2.1 million for the same quarter last year.

Sales for the quarter jumped 2.6 percent to $85 million, compared to $82.8 million in the prior year quarter.

For the six months ended Dec. 31, net sales dropped 2.1 percent to $166.5 million, compared to $170.1 million in the same period last year. Net income for the first half of the fiscal year was $5.3 million, compared to $4.5 million for the same period last year.

Residential furniture net sales were $67 million, an increase of 5.4 percent from the prior year net sales of $63.5 million. For the six-month period, residential furniture sales climbed 0.6 percent to $129.5 million, compared to $128.8 million in the same period last year.

The entire earnings release can be found online.