Ethan Allen Doubles 1Q Income

DANBURY, CT - Ethan Allen Interiors reported net income of $17.5 million for its first quarter ended Sept. 30, more than double the $8.5 million it posted in the same period a year ago. The company’s net delivered sales totaled $248.7 million, a 2.4% increase over the first quarter of the prior year.

Farooq Kathwari, chairman and CEO of Ethan Allen, said, “We are pleased with our results for the first quarter. Despite continued uncertainty with respect to the economy, concerns with respect to the consumer and credit situation, and a softer overall environment for home furnishings retail, sales and net income for the quarter improved.

“[W]e remain cautiously optimistic with regard to our ability to continue to do relatively well as we move forward,” Kathwari added.

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