Havertys Posts $3.3M Profit in 3QNovember 1, 2012
Net sales for the quarter climbed 11.1 percent compared to sales of $155 million posted in the same quarter of last year. Net income in the third quarter of last year was $118,000.
Net income for the nine-month period was $8.1 million, compared to a $1.4 million loss in the same period last year. Sales for the nine months ended Sept. 30 increased 7.8 percent to $487.8 million compared to $452.6 million in the same period last year.
"We are pleased with our earnings results and effective leverage of sales growth," said Clarence Smith, chairman, president and chief executive officer. "The housing recovery is showing some signs of staying power and we will benefit as it rebounds. We are well positioned in excellent markets and continue to strengthen our engagement with the middle to upper-middle income customer."