DUBUQUE, IA – Furniture manufacturer, Flexsteel Industries Inc. reported sales and earnings for its first fiscal quarter ended Sept. 30. The company reported net sales for the quarter of $91.4 million compared to the prior year quarter of $100.9 million, a decrease of 9.4%. The company reported a net loss for the current quarter of $0.7 million compared to net income of $1.2 million in the prior year quarter.
For the quarter, residential net sales were $62.0 million, down from the prior year quarter net sales of $62.7 million. Commercial net sales were $23.5 million compared to $22.5 million in the prior year quarter, an increase of 4.3%.
Have something to say? Share your thoughts with us in the comments below.