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Ethan Allen Profits Up
By Home Furnishings Business in on January 2006
The second quarter for Ethan Allen turned out to be a rather profitable one for the veteran home furnishings company.
The oldest dedicated store network said in a report issued Wednesday that its earnings rose last quarter beyond previous estimates. Total sales rose to $276 million from $245 million from the previous year.
According to the statement, earnings per share increased to 77 cents a share. The number is a 22 percent increase for shareholders, when compared with 63 cents a share last year.
Farooq Kathwari, chairman and CEO of Ethan Allen Interiors Inc., said in the statement, that the company was "very pleased" with their results for the quarter.
"We believe that the structural changes undertaken within our business during the past three years, including initiatives to enhance our product offerings, our manufacturing, sourcing and logistics activities, our retail network, and our marketing efforts, played an important role in our ability to increase sales," he said.