Real Estate
Ethan Allen Reports Higher Earnings
For the quarter that ended Dec. 31, Ethan Allen Interiors saw increased net income and net sales with earnings per share rising 30 percent over the same quarter a year earlier.
Ethan Allen Interiors Inc. (NYSE: ETH) with its worldwide headquarters in Danbury, today reported net sales in the quarter that ended Dec. 31 increased 4.4 percent over the prior year to $191.3 million. The company’s retail division net sales increased 6.1 percent to $151.8 million including comparable design center growth of 4.9 percent.
Excluding special items in both periods, net income for the quarter was $11.4 million or 39 cents per diluted share compared with $8.6 million or 30 cents per diluted share in the prior year period. US GAAP net income for the quarter was $9.8 million or 34 cents per diluted share compared with the prior year of $8.1 million or 28 cents per diluted share.
“We are pleased with our results for the quarter ended December 31, 2012. Despite the challenging economic / political environment and the impact of Hurricane Sandy, our adjusted earnings per share increased 30%," said Farooq Kathwari, Chairman and CEO.
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