STANLEYTOWN, VA - Stanley Furniture Company Inc. (Nasdaq-NGS:STLY) said second quarter net sales rose  3.1% to $27.4 million versus second quarter, its frist sequential gain in a year.

“While we do not believe the slight increase represents any positive macro-level signs, our reaching a meaningful top line milestone is important given the recent changes in our operational model,” said Glenn Prillaman, president and CEO. “We are still operating in a sluggish retail environment that continues to deal with a stagnant housing market."

The residential furnishings manufacturer said its operating loss narrowed by almost 70 percent, to $1.1 million, aided by tax refunds of $3.1 million, as well as $1.1 million in Continued Dumping and Subsidy Offset Act penalties disbursed to it by the Commerce Department and levied against its mostly Chinese wood bedroom furniture competitors.

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