Flexsteel (NASDAQ: FLXS) reported Q2 EPS of ($0.19), versus $0.26 reported last year. Revenue for the quarter came in at $102.9 million, versus $118.4 million reported last year.

Management Commentary

“While the business environment remained challenging during the second quarter, our team continued to make progress on several fronts,” said Jerry Dittmer, President and CEO of Flexsteel Industries. “Our strategy to restore top-line growth by providing a better customer experience with the right products in the right channel at the right cost is producing results. Our ecommerce line grew 30% year-over-year, the third quarter of sequential growth and the first quarter of positive year-over-year comps since I joined the Company one year ago. We believe this is a solid indication that we are back on track to growing this important and high-potential channel. In other product lines, we are making progress transitioning some manufacturing to Vietnam, which has allowed us to partially reverse some premium pricing imposed by the 25% tariff. Where we can get pricing back in line, we are seeing an immediate uptick in sales. We expect this benefit to evolve as we shift more work to Vietnam.”

Dittmer added, “We are heads down focused on our common goals to grow the topline, to drive down costs of serving customers while at the same time providing a better customer experience. Our dedicated team, supported by our strong balance sheet, has allowed us to expeditiously drive transformation and position our Company for success.”

For earnings history and earnings-related data on Flexsteel (FLXS) click here.