Hooker Furnishings Corporation Reports Earnings Results for the Third Quarter and Nine Months Ended October 30, 2022
December 08, 2022 at 06:05 am EST
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Hooker Furnishings Corporation reported earnings results for the third quarter and nine months ended October 30, 2022. For the third quarter, the company reported sales was USD 151.58 million compared to USD 133.43 million a year ago. Net income was USD 4.84 million compared to net loss of USD 1.22 million a year ago. Basic earnings per share from continuing operations was USD 0.42 compared to basic loss per share from continuing operations of USD 0.1 a year ago. Diluted earnings per share from continuing operations was USD 0.42 compared to diluted loss per share from continuing operations of USD 0.1 a year ago.
For the nine months, sales was USD 451.8 million compared to USD 458.81 million a year ago. Net income was USD 13.57 million compared to USD 15.69 million a year ago. Basic earnings per share from continuing operations was USD 1.16 compared to USD 1.32 a year ago. Diluted earnings per share from continuing operations was USD 1.14 compared to USD 1.3 a year ago.
Hooker Furnishings Corporation is a designer, marketer and importer of casegoods (wooden and metal furniture), leather furniture, fabric-upholstered furniture, lighting, accessories, and home decor for the residential, hospitality and contract markets. Its segments include Hooker Branded, Home Meridian and Domestic Upholstery. Hooker Branded segment which includes two businesses: Hooker Casegoods, which covers a range of design categories and includes home entertainment, home office, accent, dining and bedroom furniture in the upper-medium price points sold under the Hooker Furniture brand; and Hooker Upholstery, which includes imported upholstered furniture targeted at the upper-medium price-range. The Home Meridian segment includes Pulaski Furniture, Samuel Lawrence Furniture, Prime Resources International and Samuel Lawrence Hospitality. The Domestic Upholstery segment includes Bradington-Young, HF Custom, Shenandoah Furniture and Sunset West operations.
HOOKER FURNISHINGS CORPORATION 