Daily News
From Home Furnishing Business
Hooker Boosts 1Q Profit by 23.8%
June 4,
2015 by in Financial Reports, Industry 
Hooker Furniture (NASDAQ: HOFT) reported net income of $3.5 million for the first quarter ended May 3, a 23.8 percent increase compared to net income of $2.8 million for the same quarter last year.
Net sales for quarter remained relatively steady at $61 million compared to $61.4 million in the first quarter last year.
The company’s upholstery business, including Sam Moore, Bradington-Young and Hooker Upholstery, improved operating profitability by $916,000 year-over-year with the company’s cost reductions and increased manufacturing efficiencies.
"We're pleased with our ability to deliver a solid quarter and grow profits more than 20 percent in spite of flat demand and inconsistent retail conditions around the country during the period," said Paul B. Toms Jr., chairman and CEO. "The significant operating income improvement in our domestic upholstery operations, especially at Sam Moore, was a highlight of the quarter.”
The complete earnings report is available online.