Daily News
From Home Furnishing Business
Flexsteel Posts Year-End Income of $15M
August 20,
2014 by in Financial Reports, Industry 
Home furnishings supplier Flexsteel (NASDAQ: FLXS) posted net income of $15 million for the year ended June 30 compared to net income of $13.2 million reported last year.
Net sales for the year were $438.5 million, a 14 percent increase from the prior fiscal year.
Net income for the fourth quarter ended June 30 was $5.6 million, compared to net income of $4.2 million in the fourth quarter of last year. Net sales for the fourth quarter were $111 million, a 9 percent increase over the $102 million reported in the prior year quarter.
For the company's furniture business, net sales for the year were $360 million, a 16 percent increase from sales of $311 million in the previous year. Net sales for the company's fourth quarter furniture business were $93 million, a 14 percent increase from $82 million in the fourth quarter of last year.
The complete earnings release is available online.