From Home Furnishing Business
Flexsteel Posts Increased Sales in 3Q
Flexsteel Inds. (NASDAQ: FLXS) posted net income of nearly $7 million for the third quarter ended March 31 compared to net income of $4.4 million for the same quarter last year.
Net sales for the quarter were $122.5 million a 10.9 percent increase from net sales of $110.5 million in the same period last year.
Residential sales in the third quarter climbed 14.6 percent to $103.9 million from $90.7 million in the third quarter of last year.
Like other furniture suppliers, Flexsteel said the West coast port slowdown had had a negative impact on its financial performance. The company's complete earnings report is available online.