DUBUQUE, IA – Furniture manufacturer Flexsteel Industries Inc. reported a drop in fourth quarter net income compared to year-ago period.

The company reported fourth quarter net income of $0.34 million compared to $5.84 million in the prior year period. Gross margin for the fourth quarter ended June 30 decreased to $18.64 million from $22.57 million in the fourth quarter of fiscal year 2007.

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