Hooker Furniture Corp (HOFT) Tops Q1 EPS by 5c

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Go back to Hooker Furniture Corp (HOFT) Tops Q1 EPS by 5c

Hooker Furniture Reports Double-Digit Income Rise on Higher Sales in First Quarter

June 5, 2014 8:10 AM EDT

MARTINSVILLE, Va., June 5, 2014 (GLOBE NEWSWIRE) -- Hooker Furniture (Nasdaq: HOFT) today reported net sales of $61.4 million and net income of $2.8 million, or $0.26 per share, for its fiscal 2015 first quarter which began on February 3, 2014 and ended May 4, 2014.

Net income increased 31.9% compared to $2.1 million, or $0.20 per share, during last year's first quarter, driven primarily by higher sales in the casegoods segment.

Net sales for the first quarter increased $5.1 million, or 9.1%, compared to $56.3 million for the same period a year ago, primarily due to increased casegoods unit volume against essentially flat consolidated average selling prices. Casegoods and... More