Share this on

Stanley 1Q sales up 16%

Income reaches $9.4M

By Furniture Today Staff -- Furniture Today, April 26, 2005

STANLEYTOWN, Va. (PR) -- Stanley Furniture has reported net sales of $83 million for the first quarter, up 16% from the same period in 2004, while earnings per share grew 21.1% to $0.86.

Operating income climbed to $9.4 million, or 11.3% of net sales, in the first quarter from $7.8 million, or 10.9% of net sales, in the first quarter of 2004.

Stanley attributed the growth to higher sales, increased production levels at domestic facilities and operating efficiencies. These improvements were partially offset by inflation in raw materials, compensation costs, energy and freight costs, increased warehouse expense and tariffs imposed on wooden bedroom furniture imported from China.

Jeffrey R. Scheffer, president and CEO, said: "For the most recent four quarters, our sales have increased 15.6% from the previous four quarter period. We believe market share gains are driving our sales growth. Blending efficient domestic manufacturing in our highly focused facilities with intelligent outsourcing of certain component parts and finished goods has allowed us to improve the styling and value of our products. Combining this with our culture and reputation for high quality and fast delivery differentiates us from our competition. We enter the second quarter with considerable momentum and anticipate 2005 to be another good year."

For the remainder of 2005, the company expects net sales to be in the range of $330 million to $340 million, an increase of 8% to 11% over 2004. Operating income is expected to be in the range of $37.8 million to $38.8 million.

For the second quarter, net sales are projected at $79 million to $81.5 million, an increase of 9% to 13% over the second quarter of 2004. Operating income is expected to be in the range of $8.4 million to $9.0 million.

Share this on

Stanley 4Q sales, earnings up

Feb 8, 2005

Stanley sales up 16% in 1Q

May 15, 2005

Stanley sales, earnings up

Aug 7, 2005

Stanley 2Q sales up 15.8%

Jul 19, 2005

Also by this author

Also by Staff Staff

Featured Company

Brandwise Inc.

Brandwise serves a model - not just an industry - by integrating, automating, and optimizing the entire sales channel, from wholesale Suppliers to their Reps and the Retailers they service. In short, our software helps Reps and Suppliers sell more and create... more

Related Resources

Atlanta International Gift & Home Furnishings Market

Here is a selection of products shown at this month's International Gift & Home Furnishings Market here.

Networking at the 13th annual F/T Leadership Conference

NAPLES, Fla. — Industry executives and guests took the opportunity to network and play golf during down time at Furniture/Today's 13th annual Leadership Conference here this month.