Daily News
From Home Furnishing Business
Ethan Allen 2Q Profit Drops
January 27,
2015 by in Financial Reports, Furniture Retailing, Industry 
Ethan Allen Interiors (NYSE: ETH) reported net income of $10 million in the second quarter ended Dec. 31, a 13.1 percent decline from net income of $11.6 million in the same period last year.
Net sales for the quarter increased 2.1 percent to $197.1 million from $193.1 million in the same quarter last year.
The company has been undergoing a number of repositioning changes with new product, renovating design centers and boosting its advertising.
Farooq Kathwari, chairman and CEO, said more changes are on the horizon.
"Looking ahead we have another six months of major changes as we further update our offerings and continue to strengthen our advertising and manufacturing,” he said. “We remain cautiously optimistic as we move forward."
The complete earnings release is available online.