BB&T Capital Markets
NEW YORK,(newratings.com) – Analyst Joel K Havard of BB&T Capital

Markets maintains his “hold” rating on Hooker Furniture (HOFT.NAS), while revising his estimates for the company.

In a research note published yesterday, the analyst mentions that the company has recently unveiled its plans to close its Roanoke production facility by end-August. The plant closure is expected to reduce Hooker Furniture’s headcount by nearly 275 and is likely to result in the company incurring charges of $4.5-$5 million, BB&T Capital Markets adds. The EPS estimates for 2Q06, 3Q06 and 4Q06 have been reduced from $0.30 to $0.29, from $0.28 to $0.26 and from $0.40 to $0.39, respectively. The EPS estimate for FY07 has been raised from $1.66 to $1.67 to reflect the benefits from the plant closure.