Flexsteel Industries, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended March 31, 2024
April 29, 2024 at 04:15 pm EDT
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Flexsteel Industries, Inc. reported earnings results for the third quarter and nine months ended March 31, 2024. For the third quarter, the company reported sales was USD 107.22 million compared to USD 99.05 million a year ago. Net income was USD 1.8 million compared to USD 1.48 million a year ago. Basic earnings per share from continuing operations was USD 0.35 compared to USD 0.28 a year ago. Diluted earnings per share from continuing operations was USD 0.33 compared to USD 0.28 a year ago.
For the nine months, sales was USD 301.93 million compared to USD 287.87 million a year ago. Net income was USD 5.61 million compared to USD 4.62 million a year ago. Basic earnings per share from continuing operations was USD 1.08 compared to USD 0.88 a year ago. Diluted earnings per share from continuing operations was USD 1.04 compared to USD 0.85 a year ago.
Flexsteel Industries, Inc. is a manufacturer, importer, and marketer of residential furniture products in the United States. The Companyâs furniture products business involves the distribution of manufactured and imported products consisting of a broad line of furniture for the residential market. The Companyâs product offerings include a variety of furniture, such as sofas, loveseats, chairs, reclining rocking chairs, swivel rockers, sofa beds, convertible bedding units, occasional tables, desks, dining tables and chairs, kitchen storage, bedroom furniture, and outdoor furniture. The Company distributes its products throughout the United States through its e-commerce channel and direct sales force. The Company operates manufacturing facilities located in Dublin, Georgia, and Juarez, Mexico. The Company utilizes various types of wood, fabric, leather, filling material, high carbon spring steel, bar and wire stock, polyurethane foam and other raw materials in manufacturing furniture.