Hooker Furniture (HOFT) Reports Q1 EPS of $0.41

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Go back to Hooker Furniture (HOFT) Reports Q1 EPS of $0.41

Hooker Furniture Reports Consolidated Operating Income Increased 77.7% to $7.1 million

June 6, 2017 8:30 AM EDT

MARTINSVILLE, Va., June 06, 2017 (GLOBE NEWSWIRE) -- Hooker Furniture (NASDAQ: HOFT) today reported consolidated net sales of $130.9 million and net income of $4.7 million, or $0.41 per diluted share, for its fiscal 2018 first quarter ended April 30, 2017. 

Consolidated net sales increased $9.0 million, or 7.4%, compared to a year ago, primarily due to increased sales in the Home Meridian segment.  Earnings per share increased 86.4% to $0.41 per diluted share compared to $0.22 in the prior year quarter.

During the first quarter of fiscal 2018, consolidated gross profit increased 5.8%, or $1.5 million, over the prior year... More