Daily News
From Home Furnishing Business
Ethan Allen 2Q Sales Up 5.3%
January 27,
2016 by in Financial Reports, Industry 
Ethan Allen (NYSE: ETH) reported net income of $16.5 million for the second quarter ended Dec. 31 compared to net income of $10 million in the same quarter last year.
Net sales for the quarter climbed to $207.5 million, a 5.3 percent increase over net sales of $197.1 million posted in the second quarter of last year.
For the first half of the year, net income was $29.7 million, compared to net income of $21.9 million in the first half of last year. Net sales for the first six months of the year climbed 2.6 percent to $397.9 million compared to net sales of $387.8 million in the first six months of last year.
"We are pleased that our many initiatives and the operating leverage of our vertically integrated enterprise have resulted in increased sales and a substantial increase in profitability,” said Farooq Kathwari, chairman and CEO. "During the quarter, our focus was on using our various marketing mediums, especially digital platforms, to drive qualified clients to our network of 200 Design Centers in North America. Once there, these clients interacted with some of our 1,500 interior design associates, and that resulted in strong written orders.”
The complete earnings report is available online.