Ethan Allen Interiors Inc. Announces Earnings Guidance for the Fiscal Second Quarter Ended December 31, 2017; Provides Tax Rate Guidance for the Full Year of Fiscal 2018 and 2019
January 24, 2018 at 02:09 pm IST
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Ethan Allen Interiors Inc. announced earnings guidance for the fiscal second quarter ended December 31, 2017. The Company expects to report sales of $198.5 million, an increase of 2.0% to the previous year quarter, gross margin of 54.3%, adjusted operating margin of 8.7% and adjusted diluted earnings per share in the range of $0.51 to $0.52, compared to $0.39 in the previous year quarter. Adjusted diluted earnings per share reflects an effective tax rate of 17% for the fiscal 2018 second quarter compared to 36.5% in the prior year quarter due to the Tax Cut and Jobs Act.
The Company preliminarily expects its effective tax rate will be approximately 30% for fiscal 2018 and 24% to 25% for fiscal 2019.
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. Announces Earnings Guidance for the Fiscal Second Quarter Ended December 31, 2017; Provides Tax Rate Guidance for the Full Year of Fiscal 2018 and 2019