Flexsteel 2Q Income Holds Steady

February 6, 2013

Flexsteel Inds. (NASDAQ: FLXS) reported net income of $2.9 million for the second quarter ended Dec. 31, holding steady with the same quarter from the previous year.

Net sales for the second quarter were $94.6 million, an 11 percent increase from the prior year quarter net sales of $85 million. Furniture net sales were $76.6 million for the quarter, a 14 percent increase from the prior year quarter sales of $67 million.

Net income for the first half was $5.8 million, compared to $5.3 million during the first six months of last year. Net sales of the six-month period were $185.8 million, a 12 percent increase $166.5 million in sales reported in the first half of last year.

Furniture sales for the six-month period were $148.9 million, a 15 percent increase from the prior year first half of $129.5 million.