Home furnishing retailer Ethan Allen Interiors Inc. (ETH), Tuesday reported a net loss for the fourth quarter, hurt by restructuring and impairment charges, and lower sales amid the prolonged downturn in the housing sector.
The Danbury, Connecticut-based company posted a net loss of $16.9 million or $0.58 per share for the fourth quarter, compared to net income of $11.1 million or $0.39 per share in the prior year quarter. Results for the quarter include $12.9 million restructuring and impairment charge, and $1.5 million or $0.05 per share of tax expense.
Excluding the impact of the restructuring and impairment charges, loss per share was $0.23, compared to earnings per share of $0.45 in the year-ago quarter. On average, 7 analysts polled by Thomson Reuters expected the company to report a loss of $0.23 per share for the fourth quarter. Analysts' estimates typically exclude one-time items.
Fourth quarter net delivered sales decreased to $138.7 million from $235.9 million in the same quarter last year. Six analysts had a consensus revenue estimate of $141.70 million for the fourth quarter.
Net delivered sales at the Retail division fell to $102.3 million from $176.5 million, and wholesale sales dropped to $85.2 million from $147.7 million. Comparable Ethan Allen design center delivered sales were down 43.5% over last year.
As a percentage of sales, gross margin decreased to 48.7% from 54.2% in the previous year quarter.
For the full-year 2009, Ethan Allen reported a net loss of $52.7 million or $1.83 per share, compared to net income of $58.1 million or $1.97 per share in the year-ago period.
Adjusted net loss was $8.9 million or $0.31 per share, compared to net earnings of $62.4 million or $2.12 per share in the previous year period.
Annual net delivered sales decreased to $674.3 million from $980.0 million in the prior year period.
The Street currently expects the company to report a loss of $0.31 per share for the year on revenue of $676.71 million.
ETH closed Tuesday's regular trading session at $14.15, up 3 cents.
For comments and feedback contact: editorial@rttnews.com
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.