Hooker Furniture (HOFT) Tops Q1 EPS by 6c

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Go back to Hooker Furniture (HOFT) Tops Q1 EPS by 6c

Hooker Furniture Reports Strong Operating Profitability Performance for First Quarter

June 4, 2015 8:10 AM EDT

MARTINSVILLE, Va., June 4, 2015 (GLOBE NEWSWIRE) -- Hooker Furniture (Nasdaq: HOFT) today reported consolidated net sales of $61 million and net income of $3.5 million, or $0.32 per diluted share, for its 13 week fiscal quarter ended May 3, 2015.

Net income increased 23.8%, or $668,000 on essentially flat sales.

Earnings per share increased to $0.32 per share compared to $0.26 in the prior year quarter.

Consolidated operating income increased nearly $1 million, or 23.6%, over the prior year quarter, driven by upholstery segment improvements. The upholstery segment, including Sam Moore, Bradington-Young and Hooker Upholstery, improved operating profitability by $916,000 year-over-year on the strength of cost reductions... More