Hooker Furniture (HOFT) Misses Q4 EPS by 2c

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Go back to Hooker Furniture (HOFT) Misses Q4 EPS by 2c

Hooker Furniture Reports Operating Profitability Gains in 2016 Fiscal Year

April 7, 2016 8:31 AM EDT

MARTINSVILLE, Va., April 07, 2016 (GLOBE NEWSWIRE) -- Hooker Furniture (NASDAQ: HOFT) today reported consolidated net sales of $247 million and net income of $16.2 million, or $1.49 per diluted share, for its fifty-two week fiscal year ended January 31, 2016.

Sales increased by $2.6 million, or 1%, for fiscal 2016 compared to the prior year. Annual net income increased by $3.6 million, or about 30%. Earnings per share increased to $1.49 per diluted share compared to $1.16 for last year. The increase in net income was driven by operating profitability improvements in all segments.

For the fiscal 2016 fourth quarter, consolidated net... More