Daily News
From Home Furnishing Business
Flexsteel 2Q Income Soars
February 5,
2015 by in Financial Reports, Industry 
Flexsteel Inds. (NASDAQ: FLXS) recorded net income of $4.7 million for the second quarter ended Dec. 31, soaring over net income of $1.2 million posted in the same quarter last year.
The company’s reported second quarter net sales of $114.4 million, a 1.7 percent increase from net sales of $112.5 million reported in the second quarter last year.
Second quarter net sales for residential furniture hit $94.8 million, a 3.8 percent increase over net sales of $91.4 million in the same quarter last year. The company said West Coast port issues impacted the company’s sales by at least $6 million in the quarter.
For the six-month period, Flexsteel posted net income of $9.6 million compared to net income of $4.9 million in the same period last year. Net sales for the six-month period were $223.1 million, a 2.8 percent increase over net sales of $216.9 million in the first half of last year.
Residential sales for the first half hit $186.3 million, 6.2 percent increase from residential sales of $175.4 million in the first half of last year.
The complete earnings release is available online.