Ethan Allen Interiors Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended December 31, 2013
January 23, 2014 at 08:36 am
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Ethan Allen Interiors Inc. reported unaudited consolidated earnings results for the second quarter and six months ended December 31, 2013. For the quarter, the company reported net sales of $193,104,000 against $191,251,000 a year ago. Operating income was $19,850,000 compared to $17,357,000 a year ago. Income before income taxes was $18,022,000 compared to $15,287,000 a year ago. Net income was $11,555,000 or $0.39 per diluted share compared to net income of $9,846,000 or $0.34 per diluted share a year ago. Earnings per diluted share excluding special items and unusual income tax effects were $0.41 against $0.40 a year ago. Net income excluding special items and unusual income tax effects was $11,933,000 against $11,400,000 a year ago. Operating income excluding special items was $20,620,000 against $20,023,000 a year ago. EBITDA was $24,182,000 compared to $21,703,000 a year ago. EBITDA excluding special items was $24,952,000 compared to $24,369,000 a year ago. Operating cash flow was $1.5 million against $11.5 million a year ago. Capital expenditures were $5.3 million against $5.2 million a year ago.
For the six months, the company reported net sales of $374,763,000 against $378,688,000 a year ago. Operating income was $35,794,000 compared to $35,311,000 a year ago. Income before income taxes was $32,175,000 compared to $31,116,000 a year ago. Net income was $20,589,000 or $0.70 per diluted share compared to net income of $19,910,000 or $0.68 per diluted share a year ago. Earnings per diluted share excluding special items and unusual income tax effects were $0.74 against $0.78 a year ago. Net income excluding special items and unusual income tax effects was $21,453,000 against $22,474,000 a year ago. Operating income excluding special items was $37,404,000 against $39,587,000 a year ago. EBITDA was $44,374,000 compared to $44,193,000 a year ago. EBITDA excluding special items was $45,984,000 compared to $48,469,000 a year ago. Operating cash flow was $22.6 million against $18.2 million a year ago. Capital expenditures were $8.6 million against $13.6 million a year ago.
Ethan Allen Interiors Inc. is an interior design company, which is a manufacturer and retailer in the home furnishings marketplace. The Company operates through two segments: wholesale and retail. The wholesale segment is involved in the development of the Ethan Allen brand and encompasses all aspects of design, manufacturing, sourcing, marketing, sale, and distribution of the Companyâs broad range of home furnishings and accents. The retail segment sells home furnishings and accents to clients through a network of 139 Company-operated design centers. The Company operates approximately 139 retail design centers with 135 located in the United States and four in Canada. The Company also owns and operates ten manufacturing facilities, including four manufacturing plants, one sawmill, one rough mill and one kiln dry lumberyard in the United States, two manufacturing plants in Mexico and one manufacturing plant in Honduras.
ETHAN ALLEN INTERIORS INC. 
