DUBUQUE, Iowa—A 4 percent increase in sales of upholstered and ready-to-assemble goods boosted Flexsteel Industries, Inc. first quarter reportings to the company’s highest levels.
Flexsteel reported net sales of $109 million, a 4 percent jump over the previous year’s reporting for the same quarter. Additionally adjusted net income for the quarter increased 14 percent to $5 million. Company officials expect to see sales numbers increase throughout the year due to an existing backlog of orders and “positive order trends,” as well as an expansion of the company’ product portfolio of upholstered goods and ready-to-assemble products.
In anticipation of future growth the company purchased land and a building in Edgerton, KS for $24 million, to be used as a distribution facility. Inventory also increased $8 million to support anticipated increased sales volume in upholstered, case goods and ready-to-assemble product categories.
Marcia Dixon, general manager of Flexsteel's upholstered furniture factory in Dublin, GA will join an online forum of Women in Woodworking on Nov. 5. The forum is a webcast hosted by Woodworking Network.
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