Daily News
From Home Furnishing Business
Ethan Allen 2Q Sales Increase
January 23,
2014 by in Financial Reports, Industry 
Home furnishings company Ethan Allen has reported a 1 percent increase in second quarter sales for the quarter ended Dec. 31.
Net sales for the quarter were $193.1 million, compared to $191.3 million posted in the second quarter of the prior year.
Net income for the second quarter was reported at $11.6 million, compared to $9.8 milling in the second quarter last year.
Net income for the first six months $20.6 million, compared to $19.9 million in the first six months of last year. Net sales for the first half of the year was reported as $375 million, compared to $379 million in the first half of last year.
"While we are pleased with the strong financial results in what is our seasonally slower quarter, our greatest opportunity to leverage our vertically integrated structure is to increase our written sales," said Farooq Kathwari, chairman and CEO. "Written orders and deliveries were affected in the quarter by several external and internal factors including: the government shutdown, challenging weather in many parts of the U.S., and an increase in back ordered import products."
The complete earnings release can be found online.