DANBURY, CT, Oct. 12, 2020 (GLOBE NEWSWIRE) — Ethan Allen Interiors Inc. (“Ethan Allen” or the “Company”) (NYSE: ETH) today provided several updates on its business.
Preliminary Financial Results
The Company expects to report the following financial results for its first quarter ended September 30, 2020:
- Consolidated net sales of $151.1 million
- Retail segment written orders continued to accelerate with growth of 10.8% over the prior year
- Wholesale segment orders, while benefitting from the strong retail growth, were down 0.4% due to the timing of GSA and other government orders that were negatively impacted by COVID-19 pandemic related disruptions. Excluding GSA and other government orders, Wholesale segment orders booked were up 9.2% for the quarter.
- Consolidated gross margin of 56.8%
- Adjusted diluted EPS in the range of $0.34 to $0.36
- Paid off all of the remaining $50 million in debt during the quarter using available cash
- Ended the quarter with