Ethan Allen Interiors Inc. reported unaudited consolidated earnings results for the second quarter and six months ended December 31, 2015. GAAP operating income increased 50.1% to $26.5 million, 12.8% of sales, compared to previous year GAAP operating income $17.7 million, 9.0% of sales. Adjusted operating income increased 35.1% to $25.3 million, 12.2% of sales, compared to previous year adjusted operating income $18.7 million, 9.5% of sales. GAAP EPS of $0.58 improved 70.6% over previous year GAAP EPS of $0.34; adjusted EPS of $0.55 improved 48.6% over prior year adjusted EPS of $0.37. EBITDA $31.3 million, 15.1% of sales, compared to previous year EBITDA $22.3 million, 11.3% of sales; adjusted EBITDA $30.1 million, 14.5% of sales compared to previous year adjusted EBITDA of $23.4 million, 11.9% of sales. Consolidated net sales for the quarter ended December 31, 2015 increased 5.3% over the prior year to $207.5 million. Net income for the quarter ended December 31, 2015 was $16.5 million or $0.58 per diluted share compared with $10.0 million or $0.34 per diluted share in the prior year quarter. Excluding special items, adjusted net income was $15.8 million or $0.55 per diluted share in the current year and $10.8 million or $0.37 per diluted share in the prior year. Capital expenditures were $7.4 million fiscal year to date at December 31, 2015 compared to $13.1 million prior year and inventories of $157.5 million increased $5.6 million from June 30, 2015. Operating cash flow was $5.0 million against $3.7 million a year ago. Income before income taxes was $26.125 million against $15.867 million a year ago.

For the first-half, the company reported GAAP operating income increased 24.3% to $47.4 million, 11.9% of sales, compared to previous year GAAP operating income $38.1 million, 9.8% of sales. Adjusted operating income increased 13.8% to $46.2 million, 11.6% of sales, compared to previous year adjusted operating income $40.6 million, 10.5% of sales. GAAP EPS of $1.04, adjusted EPS $1.01. Year to date net sales were $397.9 million, up 2.6% from $387.8 million the prior year. Net income for the six months ended December 31, 2015 was $29.7 million or $1.04 per diluted share compared with $21.9 million or $0.75 per diluted share in the prior year comparable period. Adjusted net income year to date of $28.9 million increased 22.7% compared with $23.5 million the prior year period and its adjusted earnings per diluted share increased 26.3% for the six months to date at $1.01 compared with $0.80 the prior year to date period. Operating cash flow was $21.0 million against $10.5 million a year ago. Capital expenditures were $7.4 Capital expenditures were $13.1 million a year ago. Income before income taxes was $46.695 million against $34.591 million a year ago.