From Home Furnishing Business
Flexsteel 1Q Profit Hits $3.8M
Flexsteel Inds. (NASDAQ: FLXS) posted net income of $3.8 million for the first quarter ended Sept. 30, compared to $2.9 million during the same quarter last year.
The company's first quarter net sales climbed 14 percent to $104.3 million from $91.2 million in the same quarter last year.
Furniture net sales increased about 16 percent to $84 million in the quarter, primarily due to sales of upholstery and ready-to-assemble products.
The company said it expects top line growth to continue through the end of fiscal 2014. Furniture growth is expected to continue with existing customers and products, as well as with new wares and new customers, the company said.
The complete earnings release is available online.