MARTINSVILLE, Va. \u00e2\u20ac\u201d Furniture maker Hooker Furniture Corp. said Wednesday its swung to a profit in its fourth quarter, helped by a boost in sales per day.<\/p>\n
For the quarter ended Feb. 3, the company reported profit of $4.6 million, or 39 cents per share. In 2014, the fourth quarter lasted just two months since the company was transitioning to a new reporting calendar. During that time period, the company reported a loss of $18.4 million, or $1.52 per share.
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\nThe company said its 2015 fourth quarter results included a gain of about 2 cents per share for previously accrued health care benefits for terminated employees. Excluding that gain, the company earned 37 cents per share.<\/p>\n
In the 2014 transition period, the company’s results were weighed down by restructuring charges of 15 cents per share.<\/p>\n
Revenue rose 68 percent to $82.3 million from $49.1 million in the two-month transition period.<\/p>\n
The company said based on actual shipping days in each period, net sales per day increased in the 2015 fourth quarter.<\/p>\n
For the year, profit grew 39 percent to $19.7 million, or $1.58 per share, from $14.1 million, or $1.18 per share in the prior year.<\/p>\n
Revenue fell 10 percent to $316.8 million from $350 million in 2014.<\/p>\n
Hooker Furniture shares rose $1.79, or 7.7 percent, to $24.99 in electronic after-hours trading. During regular hours, the shares fell 30 cents to close at $23.20.<\/p>\n","protected":false},"excerpt":{"rendered":"
MARTINSVILLE, Va. \u00e2\u20ac\u201d Furniture maker Hooker Furniture Corp. said Wednesday its swung to a profit in its fourth quarter, helped by a boost in sales per day. For the quarter ended Feb. 3, the company reported profit of $4.6 million, or 39 cents per share. In 2014, the fourth quarter lasted just two months since […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-5271","post","type-post","status-publish","format-standard","hentry","category-furniture-indonesia-news"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/posts\/5271","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=5271"}],"version-history":[{"count":0,"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/posts\/5271\/revisions"}],"wp:attachment":[{"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/media?parent=5271"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/categories?post=5271"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/tags?post=5271"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}