Home furnishings marketing and logistics company Hooker Furniture Corp. (HOFT) comes on our radar after reporting higher results for the third quarter.
Hooker Furniture is a full-line resource for residential furniture retailers, offering furniture collections and products for virtually every room of the home. The company markets its casegoods under the Hooker Furniture, Envision and Opus Designs by Hooker brand names and upholstered furniture under the Bradington-Young, Seven Seas, and Sam Moore brand names. It sells its products directly, as well as through independent sales representatives.
Annual Financial Data
Net sales for the fiscal year ended January 29, 2012 amounted to $222.5 million, compared to $215.4 million in 2011, and $203.3 million in fiscal 2010.
Net income rose to $5.06 million or $0.47 per share in fiscal 2012 from $3.24 million or $0.30 per share in 2011, and $3.01 million or $0.28 per share in 2010.
Improved Q3-FY13 Results
- Q3 net income was $2.4 million or $0.23 per share versus $2.3 million or $0.21 per share last year.
- Q3 net sales rose 4.8% to $56.80 million from $54.18 million a year ago.
The company said improved profitability was driven by lower sales discounting, reduced costs and greater domestic manufacturing efficiency.
Q2 - FY13 Results
- Q2 net income was $1.5 million or $0.14 per share versus $1.6 million or $0.15 per share last year. Consensus - $0.09/Shr.
- Q2 net sales declined to $50.2 million from $55.6 million last year.
Q1 - FY13 Results
- Q1 net income was $1.0 million or $0.09 per share, up from $0.5 million or $0.05 per share last year.
- Q1 net sales declined 11.4% to $51.7 million from $58.4 million in the year-ago quarter.
Turned To Profit In Q4 - FY12
- Q4 net income was $0.6 million or $0.06 per share versus loss $0.2 million or $0.02 per share last year.
- Q4 net sales decreased 1.1% to $54.4 million from $55.0 million last year.
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