DUBUQUE, IA – Furniture manufacturer Flexsteel reported its operating results for the first fiscal quarter of 2008, ended Sept. 30. Net sales were $100.9 million, compared to the prior year quarter of $101.3 million. Net income for the quarter was $1.2 million, compared to $0.6 million for the same period last year. Residential net sales increased 2% from the prior year quarter to $62.7 million, while vehicle net sales decreased 1% to $15.7 million, and commercial net sales decreased 5% to $22.5 million. Gross margin for the quarter was 19.6%, compared to 18.2% in the same period last year. Read more.