Ethan Allen Interiors Inc. reported unaudited consolidated earnings results for the second quarter and half year ended December 31, 2014. For the quarter, the company reported net sales of $197.1 million, increased 2.1% compared to the prior year second quarter of $193.1 million. Net income was $10.0 million or $0.34 per diluted share compared with $11.6 million or $0.39 per diluted share in the prior year quarter. Excluding special items in both periods, adjusted earnings for the quarter were $0.37 per diluted share or $10.8 million compared to $0.41 per diluted share or $11.9 million in the prior year quarter. Operating cash flow was $3.7 million compared to $1.5 million a year ago. Capital expenditures were $7.7 million compared to $5.3 million a year ago. EBITDA was $22.3 million compared to $24.2 million a year ago. EBITDA (excluding special items) was $23.4 million compared to $25.0 million a year ago. Adjusted operating income for the second quarter was $18.7 million or 9.5% of sales compared to $20.6 million or 10.7% of sales in the prior year second quarter.

For the half year, the company reported net sales of $387.8 for the first half fiscal 2015, increased 3.5% from $374.8 million the prior year. Net income was $21.9 million or $0.75 per diluted share compared with $20.6 million or $0.70 per diluted share in the prior year comparable period. Adjusted net income year to date of $23.5 million increased 9.7% compared with $21.5 million the prior year period and adjusted earnings per diluted share increased 9.6% for the six months to date at $0.80 compared with $0.73 the prior year to date period. Operating cash flow was $10.5 million compared to $22.6 million a year ago. Capital expenditures were $13.1 million compared to $8.6 million a year ago. EBITDA was $47.5 million compared to $44.4 million a year ago. EBITDA (excluding special items) was $50.0 million compared to $46.0 million a year ago. Adjusted operating income was $40.6 million or 10.5% of sales compared to $37.4 million or 10.0% in the prior year period.

The company expects fiscal 2015 total capital expenditures of $28 million to $29 million as company continues to invest in new technology in the retail and wholesale segments, as well as incur capital expenditures relating to improving and growing design centers.