Ethan Allen (ETH) Sees Q3 EPS at Or Below Views Following Adjustments
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Price: $23.71 +1.93%
Financial Fact:
Income before income taxes: 18.16M
Today's EPS Names:
RIBT, INLB, FTXP, More
Financial Fact:
Income before income taxes: 18.16M
Today's EPS Names:
RIBT, INLB, FTXP, More
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Ethan Allen Interiors Inc. (NYSE: ETH) CEO Farooq Kathwari commented today:
“We plan to release financial results after the market closes on April 23 and expect to report that our consolidated net sales for our third fiscal quarter ended March 31, 2012 grew 8% over the prior year third quarter. During the quarter as a result of continued improvements in our financial performance, we expect to reverse valuation reserves on certain deferred tax assets which will benefit the quarter by approximately $0.81 per diluted share. Excluding the impact of this tax benefit and certain other items, our earnings for the third quarter is expected to be approximately $0.13 to $0.14 per diluted share as compared with an adjusted $0.07 per diluted share for the third quarter last year. In addition, we have continued our major initiative of changing our product programs so that by the end of our fourth quarter of this fiscal year, in just nine months, about 60% of our products will be new. This significant effort has impacted our results during the quarter by $0.04 to $0.05 per diluted share which if also excluded, would result in earnings per diluted share of $0.17 to $0.19.“
The Streetis currently looking for EPS of 19 cents in Q3.
“We plan to release financial results after the market closes on April 23 and expect to report that our consolidated net sales for our third fiscal quarter ended March 31, 2012 grew 8% over the prior year third quarter. During the quarter as a result of continued improvements in our financial performance, we expect to reverse valuation reserves on certain deferred tax assets which will benefit the quarter by approximately $0.81 per diluted share. Excluding the impact of this tax benefit and certain other items, our earnings for the third quarter is expected to be approximately $0.13 to $0.14 per diluted share as compared with an adjusted $0.07 per diluted share for the third quarter last year. In addition, we have continued our major initiative of changing our product programs so that by the end of our fourth quarter of this fiscal year, in just nine months, about 60% of our products will be new. This significant effort has impacted our results during the quarter by $0.04 to $0.05 per diluted share which if also excluded, would result in earnings per diluted share of $0.17 to $0.19.“
The Streetis currently looking for EPS of 19 cents in Q3.
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