Flexsteel Industries, Inc. Reports Earnings Results for the Second Quarter Ended December 31, 2020
January 26, 2021 at 03:14 am IST
Share
Flexsteel Industries, Inc. announced earnings results for the second quarter ended December 31, 2020. For the second quarter, the company announced sales was USD 119.106 million compared to USD 102.949 million a year ago. Operating income was USD 9.833 million compared to operating loss of USD 7.079 million a year ago. Net income was USD 8.450 million compared to net loss of USD 5.384 million a year ago. Basic earnings per share from continuing operations was USD 1.17 compared to basic loss per share from continuing operations of USD 0.68 a year ago. Diluted earnings per share from continuing operations was USD 1.13 compared to diluted loss per share from continuing operations of USD 0.68 a year ago. For the half year, sales was USD 224.345 million compared to USD 203.297 million a year ago. Operating income was USD 17.744 million compared to USD 5.604 million a year ago. Net income was USD 12.329 million compared to USD 4.167 million a year ago. Basic earnings per share from continuing operations was USD 1.65 compared to USD 0.53 a year ago. Diluted earnings per share from continuing operations was USD 1.61 compared to USD 0.51 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.
FLEXSTEEL INDUSTRIES, INC. 
