Danbury, CT, Jan. 13, 2021 (World NEWSWIRE) — Ethan Allen Interiors Inc. (“Ethan Allen” or the “Company”) (NYSE: ETH) these days supplied numerous updates on its business.
Farooq Kathwari, Ethan Allen’s Chairman, President and CEO commented, “We are quite happy that irrespective of a lot of troubles because of to the ongoing COVID-19 pandemic, we experienced a powerful performance. The greater customer concentration on the residence has continued a potent need for our product or service offerings and style and design providers. With our Retail phase penned orders, together with our e-commerce small business, up 44.9%, it has led to a file superior purchase backlog at quarter-end.”
Preliminary Money Final results
The Company expects to report the pursuing economic final results for its next quarter finished December 31, 2020:
- Retail segment published orders progress of 44.9% above the prior calendar year
- Wholesale section orders increased 28.1%. Excluding GSA and other govt orders, wholesale phase orders grew 39.7%.
- Consolidated internet sales of $178.8 million
- Adjusted diluted EPS in the range of $.67 to $.69
- Powerful income move generation, with dollars furnished by operating actions of $23.7 million
- Hard cash on hand of $80. million and no credit card debt as of December 31, 2020
- Paid out typical quarterly dividends of $5.3 million for the duration of the quarter
- On November 12, 2020, the Company’s Board of Directors greater the typical quarterly dollars dividend by 19.% and declared a typical quarterly hard cash dividend of $.25 per share, payable on January 21, 2021
Mr. Kathwari ongoing, “We finished the quarter with a solid balance sheet, such as hard cash on hand of $80. million though developing our consolidated gross and working margins by way of disciplined value and expense controls. We have an opportunity to continue on our development in gross sales and profitability owing to our robust retail community, the private provider of our interior design and style industry experts, our exceptional vertical integration whereby 75% of products and solutions are manufactured in our North American production workshops and our nationwide distribution centers delivering products with white glove services to our client’s home.”
“As we head into the 2021 calendar 12 months, we will stay focused on staff protection, go on investing in electronic structure and interactive communication technologies, growing our company and creating potent dollars movement, refining and repositioning our products choices to arrive at a greater shopper base and leveraging our vertical integration,” concluded Mr. Kathwari.
Fiscal Second Quarter Analyst Convention Simply call
The Firm also declared these days that it will launch its financial and working benefits for the fiscal 2021 2nd quarter finished December 31, 2020, soon after the market closes on Thursday, January 28, 2021.
Subsequent the release, the Company will host an analyst convention contact at 5:00 PM (Jap Time) to discuss its effects. The analyst conference get in touch with will be webcast reside from the Company’s Trader Relations web page at https://ir.ethanallen.com.
To access the convention get in touch with, dial 877-705-2976 (or 201-689-8798 for global members), and enter Conference Amount 13714570. For individuals not able to hear stay, an archived recording of the connect with will be designed accessible on the Company’s web site for at least 60 times.
ABOUT ETHAN ALLEN
Ethan Allen Interiors Inc. (NYSE: ETH) is a foremost interior design business, producer and retailer in the home furnishings market. Currently the Organization is a world-wide luxury international residence trend manufacturer that is vertically integrated from style and design by way of delivery, which affords its clientele a price proposition of type, high quality and cost. The Business offers complimentary inside layout service to its clients and sells a complete vary of home furniture items and ornamental accents by a retail community of roughly 300 style facilities in the United States and overseas as nicely as on the web at ethanallen.com. The structure facilities signify a blend of impartial licensees and Enterprise-owned and operated destinations. The Firm operates retail style centers situated in the United States and Canada. The independently operated style and design facilities are found in the United States, Asia, the Center East and Europe. Ethan Allen owns and operates nine production amenities, together with six production crops in the United States, two production plants in Mexico and one production plant in Honduras. Approximately 75% of its items are made or assembled in these North American amenities.
For extra information and facts on Ethan Allen’s goods and services, visit www.ethanallen.com.
ABOUT NON-GAAP Monetary Steps
In this news launch the Organization has integrated a economical evaluate that is not geared up in accordance with U.S. generally approved accounting rules (“GAAP”). The Corporation computes the non-GAAP monetary measure of modified diluted EPS by modifying GAAP diluted EPS to remove the impression of certain prices and the relevant tax influence of these changes. The presentation of this non-GAAP money evaluate is not meant to be regarded as in isolation or as a substitute for, or outstanding to, the fiscal evaluate offered in accordance with GAAP. The Corporation works by using this non-GAAP economical measure for economical and operational determination producing and to assess interval-to-period comparisons. The Business believes that it supplies beneficial facts about operating outcomes, enhances the in general knowing of earlier economic performance and potential customers, and lets for better transparency with regard to critical metrics employed by administration in its economical and operational decision earning.
This information release has ahead-wanting statements within just the indicating of the Personal Securities Litigation Reform Act of 1995, Portion 27A of the Securities Act of 1933, as amended, and Segment 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), which represent management’s beliefs and assumptions concerning foreseeable future events primarily based on details at this time obtainable to the Organization relating to its future final results. These kinds of forward-seeking statements are recognized in this information launch incorporated herein by reference by use of ahead-looking words these types of as “anticipate,” “estimate,” “expect,” “project,” “plan,” “intend,” “believe,” “continue,” “may,” “will,” “short-phrase,” “target,” “outlook,” “forecast,” “future,” “strategy,” “opportunity,” “would,” “guidance,” “non-recurring,” “one-time,” “unusual,” “should,” “likely,” “COVID-19 influence,” and equivalent expressions and the negatives of this kind of ahead-looking words. These ahead-seeking statements are issue to management choices and several assumptions about upcoming activities and are not assures of long term efficiency. True outcomes could vary materially from people expected in the forward-seeking statements because of to a number of dangers and uncertainties including, but not restricted to the adhering to: the ongoing global COVID-19 pandemic may well continue on to materially adversely have an impact on the Company’s organization, its outcomes of functions and total money overall performance supplemental funding from external resources may not be available at the stages needed, or may price more than anticipated declines in sure economic circumstances, which impact buyer self confidence and shopper shelling out an general decline in the health and fitness of the financial system and consumer shelling out may have an affect on buyer purchases of discretionary things a significant shift in purchaser desire toward purchasing products on line potential to maintain and enhance the Ethan Allen brand failure to efficiently foresee or answer to alterations in shopper tastes and trends global and local economic uncertainty could materially adversely influence production operations or sources of merchandise and global operations competition from overseas manufacturers and domestic retailers disruptions in the provide chain the variety of manufacturing and logistics sites may increase exposure to business disruptions and could result in higher transportation costs fluctuations in the price, availability and quality of raw materials could result in elevated prices or result in output delays existing and former manufacturing and retail operations and items are subject matter to significantly stringent environmental, health and security prerequisites merchandise remembers or item security considerations reliance on details technological know-how programs to method transactions, summarize outcomes, and take care of its enterprise and that of specified independent retailers disruptions in equally main and again-up devices prosperous cyber-assaults and the potential to maintain suitable cyber-security methods and techniques decline, corruption and misappropriation of data and info relating to buyers improvements in United States trade and tax plan reliance on particular important personnel loss of crucial personnel or incapability to use supplemental skilled staff supplemental asset impairment fees that could reduce profitability access to consumer credit score could be interrupted incapability to maintain present structure heart destinations at latest charges failure to effectively select and protected design heart areas changes to tax insurance policies dangers and pitfalls which could not be thoroughly included by insurance policies attainable failure to defend the Company’s mental house and other things disclosed in Portion I, Item 1A. Threat Aspects, in the Company’s 2020 Annual Report on Variety 10-K.
Supplied the threats and uncertainties encompassing ahead-wanting statements, you should really not area undue reliance on these statements. Many of these elements are outside of the Company’s means to control or forecast. These forward-looking statements converse only as of the day of this information launch. Other than as essential by regulation, the Company undertakes no obligation to update or revise its forward-looking statements, no matter whether because of new info, future functions, or or else. Accordingly, actual situation and final results could differ materially from all those contemplated by the ahead-wanting statements.