DANBURY, CT – Furniture manufacturer Ethan Allen Interiors Inc. reported a net sales increase for the 3Q of 12.2%, $184.9 million. The company’s retail division net sales increased 16.7% to $141.2 million, including comparable design center net sales growth of 14.9%. Written orders booked during the quarter by the retail division were 13.2% greater than the prior year quarter including comparable design center order growth of 11.4%.
"We are gratified to see continued improvements in our sales and profitability. Our focus of providing 'aspirational and attainable' offerings with complimentary design services is helping us differentiate in a very positive manner," said Farooq Kathwari, Chairman and CEO in a statement.
Net income for the 3Q was $6.8 million or $0.23 per diluted share compared with the prior year of $3.8 million or $0.13 per diluted share. Excluding special items in both periods, net income for the quarter was $7.2 million or $0.25 per diluted share compared with $3.2 million or $0.11 per diluted share in the prior year period.
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