Hooker Furniture (HOFT) Misses Q1 EPS by 24c

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Go back to Hooker Furniture (HOFT) Misses Q1 EPS by 24c

Hooker Furniture Reports First Quarter of Consolidated Results Including Home Meridian

June 7, 2016 8:02 AM EDT

MARTINSVILLE, Va., June 07, 2016 (GLOBE NEWSWIRE) -- Hooker Furniture (NASDAQ: HOFT) today reported consolidated net sales of $121.8 million and net income of $2.5 million, or $0.22 per diluted share, for its fiscal 2017 first quarter ended May 1, 2016. Included in fiscal 2017 first quarter results are $1.7 million in acquisition-related intangible amortization expense, which was elevated in the first quarter due to the five-month amortization period of the Companys acquired profit in order backlog asset and approximately $1.0 million in non-recurring acquisition-related costs.

This is the first quarter to include consolidated financial results from Hookers acquisition of the... More