Furniture Brands International Inc.’s second-quarter profit spiked 77 percent as sales grew by just 1.3 percent, the company reported recently.


Furniture Brands’ profit for the second quarter ended June 30 jumped to $17 million on revenue of $601.3 million from profit of $9.6 million on revenue of $593.8 million in the same period last year.

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Profit in the second quarter of 2012 was negatively impacted by restructuring, asset impairment and severance charges totaling $7.9 million, or $12.2 million before income tax benefits, company officials said in a release.

W. G. “Mickey” Holliman, chairman and CEO, said he expects third-quarter sales to “be up in the low single digits versus the third quarter of last year and net earnings per diluted common share to be in the 18 cents to 22 cents range.”

St. Louis-based Furniture Brands International Inc. (NYSE: FBN – News) manufactures furniture under the Thomasville, Henredon, Drexel Heritage, Maitland-Smith, Broyhill and Lane brands.

Published July 31, 2013 by the St. Louis Business Journal