Hooker Furniture Corp (HOFT) Reports In-Line Q4 EPS

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Go back to Hooker Furniture Corp (HOFT) Reports In-Line Q4 EPS

Hooker Furniture Grows Revenues While Launching Two Businesses in Fiscal 2014

April 16, 2014 8:01 AM EDT

MARTINSVILLE, Va., April 16, 2014 (GLOBE NEWSWIRE) -- Hooker Furniture (Nasdaq: HOFT) today reported consolidated net sales of $228.3 million and net income of $7.9 million, or $0.74 per share, for its fifty-two week fiscal year ended February 2, 2014.

Sales increased by $9.9 million, or 4.5% for fiscal 2014 compared to the prior year, which included five additional shipping days. Annual net income decreased 8.1%, or $697,000. Earnings per share decreased to $0.74 for fiscal 2014 compared to $0.80 for last year. The decrease in annual net income was attributed primarily to start-up costs for the Company's two new businesses, H Contract, which furnishes upscale senior living facilities, and... More