Adjusted EPS surges 47.1% at Ethan Allen in Q4FY'14

24 Jul '14

2 min read

Ethan Allen Interiors Inc. reported operating results for the three and twelve months ended June 30, 2014.

Fourth Quarter Highlights:

• Net sales of $198.8 million increased 9.1% compared to fourth quarter of fiscal 2013

• Adjusted EPS grew 47.1% to $0.50 compared to fourth quarter of fiscal 2013; GAAP EPS increased 107.1% to $0.58

• Gross margin increased 60 basis points to 54.6% compared to fourth quarter of fiscal 2013

• Adjusted Operating Income of $24.9 million increased 42.4% compared to fourth quarter of fiscal 2013; GAAP Operating Income increased 47.5%.

• Retail division net sales increased 7.1%, and generated adjusted operating income of $8.7 million for an adjusted operating margin of 5.6% compared to 2.9% for the fourth quarter of fiscal 2013.

• Cash and securities of $135.8 million increased $32.3 million or 31.2% over June 30, 2013.

• Capital Expenditures were $19.3 million year to date at June 30, 2014 compared to $19.0 million prior year and inventories of $146.3 million increased as planned by $9.0 million over June 30, 2013. • Retail division Written Sales decreased 5.5% compared to fourth quarter of fiscal 2013, Comparable Written Sales decreased 4.1% during the same time period.

• Regular quarterly cash dividend of $0.12 per share declared; an increase of 20%

Fiscal Year ending June 30, 2014 Highlights:

• Net sales of $746.7 million increased 2.4% compared to fiscal 2013

• Adjusted diluted earnings per share (EPS) grew 10.7% to $1.45 compared to 1.31 for fiscal 2013; GAAP EPS increased 32.4% to $1.47 compared to $1.11 in fiscal 2013

• Adjusted Operating Income of $74.3 million increased 7.9% compared to fiscal 2013; GAAP Operating Income increased 15.2%

• Adjusted Net Income of $42.6 million increased 10.8% compared with fiscal 2013; GAAP Net Income increased 32.2%

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