Flexsteel Reports 1Q Sales, Income Increase

October 16, 2012  by in UnCategorized   

By Home Furnishings Business in Financial Reports on October 17, 2012

Upholstery and case goods supplier Flexsteel Inds. posted net income of $2.9 million for the first quarter ended Sept. 30. For the same quarter last year, the company reported net income of $2.4 million.

Net sales for the quarter of $91.2 million, increased 12 percent from the same quarter last year of $81.5 million. Residential furniture sales for the quarter were $72.3 million, a 16 percent increase from the prior-year quarter when sales for the segment were $62.5 million.

The company said its outlook for "moderate top-line growth will continue through the end of calendar year 2012." The company said its "residential growth will continue with existing customers and products, and through expanding (its) product portfolio and customer base."

The entire earnings release can be found online.