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Ethan Allen (ETH) Reports In-Line Q4 EPS

July 28, 2015 4:32 PM

Ethan Allen (NYSE: ETH) reported Q4 EPS of $0.43, in-line with the analyst estimate of $0.43. Revenue for the quarter came in at $193.6 million versus the consensus estimate of $193.72 million.

Farooq Kathwari, Chairman and CEO commented, “We are pleased with our results for the fiscal year just ended. Despite the impact of major changes to our offerings, the repositioning of our interior design network, investing and managing change in our North American manufacturing, investing in technology, refining and accelerating our message and the prior fiscal year fourth quarter’s record financial results, we have done very well. We have continued to generate healthy profits and cash, reduced our debt, increased our dividends and continued to invest in our enterprise.”

He further stated “We have continued to focus on building our enterprise on a sound footing by investing for the future consistent with our expressed goal of sustained, long-term growth for the purpose of improving the well-being of all our stakeholders. Since 1993 when we took the company public after a management leveraged buyout, we have been able to make substantial investments in our business and return value to stockholders. We invested $740.2 million in capital expenditures including in manufacturing, technology and real estate, repaid $390.9 million of debt, paid $348.4 million in dividends and repurchased 18.8 million shares for $549.2 million. We plan to continue on a planned and prudent basis to relocate our design centers to more appropriate locations with a smaller footprint, and to dispose of those properties that we own and which no longer meet our future focus. Since 2010 we have generated $34.9 million through sales of our real estate.”

Mr. Kathwari concluded “We are positioned well to grow our sales and profits and expect to continue with healthy long-term stockholder returns and look forward to our progress in fiscal 2016 and beyond.”

For earnings history and earnings-related data on Ethan Allen (ETH) click here.

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