Ethan Allen loses $26.5M in Q4
DANBURY, CT -- Ethan Allen Interiors Inc. (NYSE:ETH) reported a second-quarter loss of $26.5 million compared to a loss of $16 million for the same period a year ago. Sales for Q4 were up 17.9% compared to Q4 2009.

For the year ended June 30, 2010, net delivered sales totaled $590.1 million as compared to $674.3 million the prior year. The fiscal year loss was $44.3 million compared with a loss the prior year of $52.7 million.

Farooq Kathwari, chairman, president and CEO, said, "We are gratified that our positive operating results reflect the impact of the many major initiatives undertaken during this 'Great Recession'...Our focus has been to position the company for growth in sales and profitability. Our initiatives in our vertically integrated structure have helped us to reduce costs, improve the efficiency of our manufacturing, logistics and retail while at the same time improving quality and personal service. While pleased with the recent results, we remain cautious due to uncertain economic times."

Read Ethan Allen Interior's press release.

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