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From Home Furnishing Business

Hooker Furniture 3Q Sales Increase Boosts Results

Multi-line home furnishings supplier Hooker Furniture Corp. (NASDAQ: HOFT) reported net income of $3.2 million for the third quarter ended Nov. 2, a 51.4 percent increase from net income of $2.1 million in the third quarter last year.

Net sales for the quarter hit $63.2 million, a 6.9 percent increase from net sales of $59.1 million in the same period last year.

For the first nine months of the year, net income climbed 38 percent to $8.3 million compared to $6 million in the first nine months of 2013. Net sales for the nine-month period were $179.4 million, a 5.1 percent increase from $170.7 million in the first nine months of last year.

"It's very encouraging to enter the historically strong fourth quarter with this kind of top and bottom line momentum," said Paul B. Toms Jr., chairman and CEO. "Our overall performance for the first nine months is one of best in memory, and net sales were the highest in six years. It is especially gratifying to see case goods leading the way in sales growth while continuing to improve operating profitability."

The company’s complete earnings release is available online







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