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WinsLoew sales rise 21%, earnings sink 44%

By Furniture Today Staff -- Furniture Today, December 9, 2001

BIRMINGHAM, Ala. — WinsLoew Furniture recorded third quarter sales of $57.1 million, up about 21% from third-quarter results a year ago.

Earnings before interest, taxes, depreciation and amortization were down approximately 44% to $6.1 million from a year earlier.

"During these times of economic softness we continue to take aggressive action to reduce costs, increase efficiencies in each of WinsLoew's operations and to position ourselves for growth in each market served," said Bobby Tesney, president and chief executive officer of the casual and contract furniture producer.

Included in the company's plans is the continuing integration of the recently acquired Brown Jordan International. According to Tesney, the addition of Brown Jordan, coupled with the company's Casual Living Worldwide brand, positions WinsLoew as the industry leader in the casual market.

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