Ethan Allen Interiors Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended December 31, 2016
January 26, 2017 at 02:34 am IST
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Ethan Allen Interiors Inc. reported unaudited consolidated earnings results for the second quarter and six months ended December 31, 2016. For the quarter, the company reported net sales of $194.7 million against $207.5 million a year ago. Net income was $10.7 million against $16.5 million a year ago. Adjusted net income was $10.8 million against $15.8 million a year ago. Capital expenditures were $3.8 million against $4.2 million a year ago. EBITDA was $22.2 million against $31.3 million a year ago. Adjusted EBITDA was $22.2 million against $30.1 million a year ago. Operating income was $17,094,000 against $26,507,000 a year ago. Income before income taxes was $16,952,000 against $26,125,000 a year ago. Net income per diluted share was $0.38 against $0.58 a year ago. Adjusted net income per diluted share was $0.39 against $0.55 a year ago. Adjusted operating income was $17,094,000 against $25,306,000 a year ago.
For the six months, the company reported net sales of $388 million against $397.9 million a year ago. Net income was $22.2 million against $29.7 million a year ago. Adjusted net income was $22.7 million against $28.9 million a year ago. Operating cash flow was $27.5 million against $21.0 million a year ago. Capital expenditures were $11.3 million against $7.4 million a year ago. EBITDA was $45.5 million against $57 million a year ago. Adjusted EBITDA was $46.1 million against $55.8 million a year ago. Operating income was $35,431,000 against $47,407,000 a year ago. Income before income taxes was $35,109,000 against $46,695,000 a year ago. Net income per diluted share was $0.79 against $1.04 a year ago. Adjusted net income per diluted share was $0.81 against $1.01 a year ago. Adjusted operating income was $36,047,000 against $46,219,000 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.