MARTINSVILLE, Va. — Furniture maker Hooker Furniture Corp. said Wednesday fiscal third-quarter profit rose as the company cut costs, but sales fell amid the slumping housing market.

Net income for the quarter ended Oct. 28 rose 67 percent to $5.9 million, or 48 cents per share, from $3.5 million, or 29 cents per share, during the same period last year. The increase was mainly due to a year-ago restructuring charge of 19 cents per share, while current-year results include a restructuring charge of 2 cents per share.


Revenue fell 8 percent to $83.8 million from $91 million a year ago. Hooker said sales were hurt by its discontinued domestic wood furniture business but helped by sales from its acquisition of chair maker Sam Moore.

Average daily new sales fell 9.4 percent on a per-day basis during the 64 operating days in the 2015 third quarter.

Restructuring, asset impairment, delivery, selling and administrative costs all declined as the company worked on streamlining operations.

The company said it expects the housing slump to continue next year.

“All our planning assumes the current downturn will last through fall of 2015,” said Paul B. Toms Jr., company chairman, president and chief executive officer.