Stanley Furniture (STLY) Misses Q1 EPS by 8c
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Stanley Furniture Announces First Quarter 2016 Results
April 25, 2016 4:28 PM EDTSales off, gross profit margins improve while company awaits more marketable product from new factory
HIGH POINT, N.C.--(BUSINESS WIRE)-- Stanley Furniture Company, Inc. (Nasdaq-NGS:STLY) today reports sales and operating results for the first quarter ended April 2, 2016.
First quarter 2016 financial results compared to prior year:
Net sales were $11.7 million compared to $14.7 million, down 20.4%, impacted by production delays of new product. Gross profit margins improved to 21.7% compared to 20.3%. Selling, general and administrative expenses were $3.3 million, or 28.3% of net sales, compared to $3.6 million,... More