Flexsteel foresees better quarter
By Furniture Today Staff -- Furniture Today, April 7, 2002
DUBUQUE, Iowa — Upholstery producer Flexsteel Inds. said sales in the current quarter will be slightly better and operating results "significantly higher" than previously expected.
"Residential seating orders were stronger than expected in January and have remained very solid throughout the quarter," said Bruce Lauritsen, president and chief executive officer.
"The continued growth of our Comfort Gallery program, the acceptance of the Christopher Lowell collection, and the apparent rebound of consumer confidence have favorably impacted the March quarter," he said. "We now expect this improvement will continue for the balance of our fiscal year ending June 30."
Vehicle seating orders also have improved for the first time in nearly two years, Lauritsen said.
He did not forecast specific earnings per share for the third quarter ending March 31 or the fourth quarter. A year ago, Flexsteel had EPS of 13 cents in the third quarter and 3 cents in the fourth quarter.
Flexsteel plans to announce third-quarter results April 17.
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