DUBUQUE, Iowa \u00e2\u20ac\u201d Upholstery producer and importer Flexsteel Inds. said sales for its
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\nmost recent quarter were essentially flat when compared to the same quarter a year earlier, but net income nearly tripled.<\/p>\n
The company said sales were hampered by soft business conditions in its residential furniture and recreational vehicle seating divisions.\u00c2\u00a0 Sales declines in those units largealy offset a 14.1% increase in sales in its commercial division.<\/p>\n
Total sales for the fiscal second quarter ended Dec. 31 were $105.7 million, compared with $106.3 million in the quarter ended Dec. 31, 2012.<\/p>\n
Net income was $1.41 million, up from $489,000 a year earlier, largely because of reduced sales, general and administrative expenses.<\/p>\n
The company said residential furniture sales declined 3.7% to $67 million in the most recent quarter, which was the second quarter of Flexsteel\u00e2\u20ac\u2122s fiscal year.<\/p>\n
For the first six months of the fiscal year, total sales rose 1.6% to $207 million, while net income jumped 33.7% to $1.97 million, or 30 cents per share.<\/p>\n
For the six months ended Dec. 31, residential furniture sales edged up 0.9% to $128.8 million.<\/p>\n","protected":false},"excerpt":{"rendered":"
DUBUQUE, Iowa \u00e2\u20ac\u201d Upholstery producer and importer Flexsteel Inds. said sales for its<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":["post-3259","post","type-post","status-publish","format-standard","hentry","category-furniture-world-news"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/posts\/3259","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/comments?post=3259"}],"version-history":[{"count":0,"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/posts\/3259\/revisions"}],"wp:attachment":[{"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/media?parent=3259"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/categories?post=3259"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/tags?post=3259"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}