Stanley Furniture Co, Inc. (STLY) Misses Q2 EPS by 11c
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Financial Fact:
Income tax expense (benefit): 119K
Today's EPS Names:
BMNM, KG, NHC, More
Financial Fact:
Income tax expense (benefit): 119K
Today's EPS Names:
BMNM, KG, NHC, More
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Stanley Furniture Co, Inc. (NASDAQ: STLY) reported Q2 EPS of ($0.23), $0.11 worse than the analyst estimate of ($0.12). Revenue for the quarter came in at $24.2 million versus the consensus estimate of $24.31 million.
Gross margin declined to 9.0% of net sales compared to 14.5% in the second quarter of 2012, excluding prior period restructuring items.
"The most recent quarter represented a significant milestone for our company's multi-year journey to reposition itself for growth," commented Glenn Prillaman, President and Chief Executive Officer. "As we begin the second half of the year, we have now either completed or are simply refining the multiple initiatives that we believe have been necessary for long-term growth but very disruptive to our customers and management team over the last few years. With these distractions behind us, we are now completely focused on the execution of our operating models which should make us one of the most customer-friendly companies within our segment of the marketplace," continued Prillaman. "Specifically, our accomplishments in the quarter included the successful relocation of our corporate office, the opening of our new High Point showroom to wonderful reviews and a well-attended April Furniture Market and the introduction of our new staff to customers."
For earnings history and earnings-related data on Stanley Furniture Co, Inc. (STLY) click here.
Gross margin declined to 9.0% of net sales compared to 14.5% in the second quarter of 2012, excluding prior period restructuring items.
"The most recent quarter represented a significant milestone for our company's multi-year journey to reposition itself for growth," commented Glenn Prillaman, President and Chief Executive Officer. "As we begin the second half of the year, we have now either completed or are simply refining the multiple initiatives that we believe have been necessary for long-term growth but very disruptive to our customers and management team over the last few years. With these distractions behind us, we are now completely focused on the execution of our operating models which should make us one of the most customer-friendly companies within our segment of the marketplace," continued Prillaman. "Specifically, our accomplishments in the quarter included the successful relocation of our corporate office, the opening of our new High Point showroom to wonderful reviews and a well-attended April Furniture Market and the introduction of our new staff to customers."
For earnings history and earnings-related data on Stanley Furniture Co, Inc. (STLY) click here.
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