DANBURY, Conn. - Furniture retailer Ethan Allen Interiors Inc. said Wednesday its fiscal fourth-quarter profit fell 46 percent as demand dropped amid a difficult home-furnishings environment, but adjusted profit beat analyst expectations. Profit for the quarter ended June 30 fell to $11.1 million, or 39 cents per share, from $20.5 million, or 65 cents per share, last year. Excluding a charge related to the company's retail-division restructuring, net income was 45 cents per share. Analysts polled by Thomson Financial, on average, expected a profit of 43 cents per share. Revenue fell 9 percent to $235.9 million from $258.5 million a year ago, while analysts expected revenue of $243.8 million. Sales in Ethan Allen design center stores open at least one year, a key retail metric known as same-store sales, fell 11.1 percent...
[read full story]
Your Web Site
