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Flexsteel 2Q sales jump 48.3%

By Furniture Today Staff -- Furniture Today, February 8, 2004

DUBUQUE, Iowa — Upholstery manufacturer and case goods importer Flexsteel Inds. said sales in its second quarter ended Dec. 31 were up 48.3% from the prior year to $109.1 million, as net income increased 36.1% to $3 million.

The figures include operating results of DMI, which Flexsteel acquired in September 2003.

Sales for the six months rose 29.5% to $186 million, and net income was up 14.9% to $4.9 million.

In the latest quarter, residential sales were $75.8 million, including $24.8 million at DMI, an increase of 50.2% from the prior year's quarter. Recreational vehicles sales were $20 million, an increase of 12.4%. Commercial sales were $13.3 million, including DMI's $7.3 million, a jump of 150.2%.

For the six months, residential sales were $125.3 million ($26.5 million from DMI), an increase of 29.8% over the previous first half. Recreational vehicle sales were $40.4 million, up 7.6%, and commercial sales were $20.3 million ($8.7 million from DMI), a gain of 112.7%.

Flexsteel Inds.
Earnings per share are fully diluted.
Quarter ended 12/31	2003	2002	Change
(a) Includes a $403,065 pretax gain on the sale of land.
Sales	$109,102,095	$73,580,061	48.3%
Operating income	4,835,837	3,357,774	44.0%
Net income	3,016,400	2,216,243	36.1%
Earnings per share	0.46	0.35	31.4%
6 months ended 12/31	2003	2002	Change
Sales	$185,959,134	$143,599,437	29.5%
Operating income	7,727,955	5,973,018	29.4%
Net income	4,881,315	(a)4,247,103	14.9%
Earnings per share	0.75	0.67	11.9%

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Flexsteel revenues jump 44.6% in 4Q

Sep 12, 2004

Flexsteel 4Q sales up 2%

Aug 26, 2007

Flexsteel 3Q sales sag 5.7%; earnings off 13.6%

Apr 29, 2007

Flexsteel 3Q sales up 8.9%

May 9, 2006

Flexsteel 2Q sales up 1.2%

Feb 26, 2006

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