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Ethan Allen Interiors Inc. (ETH) reported strong preliminary financial results for Q2 ending December 31, 2020. The Company achieved a 44.9% increase in retail segment written orders and a 28.1% growth in wholesale orders. Consolidated net sales reached $178.8 million, with adjusted diluted EPS estimated between $0.67 and $0.69. Cash on hand totaled $80 million with no debt. The Company remains committed to enhancing its digital offerings and expanding its client base while focusing on safety and operational efficiency.
Ethan Allen, a leading interior design company, hosted its first-ever Virtual Celebration on December 15, 2020, due to COVID-19 constraints. This event brought together over 4,000 associates globally, recognizing outstanding achievements in interior design and service. Chairman Farooq Kathwari praised the team's accomplishments amid challenges and highlighted the event's success. Ethan Allen continues to thrive, showcasing resilience with a strong sales performance. The company operates approximately 300 design centers and primarily manufactures its products in North America.
Ethan Allen Interiors Inc. (NYSE:ETH) has declared a quarterly cash dividend of $0.25 per share, reflecting a 19% increase. This dividend is payable on January 21, 2021, to shareholders recorded as of January 7, 2021. Chairman and CEO Farooq Kathwari expressed optimism about the company's resilience through past economic challenges, indicating a robust future ahead.
Ethan Allen Interiors reported its fiscal 2021 Q1 results, ending September 30, 2020. Net sales decreased by 13.1% to $151.1 million due to COVID-19 disruptions. However, gross margin rose to 56.8%, up from 53.9% last year. Operating income fell to $11.7 million from $18.6 million, but cash from operations surged 80.3% to $42.2 million. Diluted EPS was $0.37, down 30.2%, while adjusted EPS rose 2.9% to $0.36. The company ended the quarter with $62.0 million in cash.
On October 12, 2020, Ethan Allen Interiors Inc. (NYSE: ETH) announced its preliminary financial results for the first quarter ended September 30, 2020. The Company reported net sales of $151.1 million and a consolidated gross margin of 56.8%. Retail segment orders saw a growth of 10.8% year-over-year, although wholesale orders declined by 0.4% due to COVID-19 impacts. Adjusted diluted EPS is projected between $0.34 and $0.36. The Company paid off $50 million in debt and ended the quarter with $62 million in cash. Ethan Allen will release full financial results on October 29, 2020.
Ethan Allen Interiors reported significant challenges for Q4 FY2020 due to COVID-19, resulting in net sales of $91.6 million, down 50.2% year-over-year. The company maintained a strong cash position of $72.3 million while generating $14 million in cash from operations. Despite furloughing 70% of its workforce, 56% returned by quarter's end. The Board reinstated a quarterly cash dividend of $0.21 per share. Full fiscal year net sales dropped 21% to $589.8 million, while diluted EPS was $0.34, down 64.6%. The retail segment was particularly affected, with a 51.9% decline in sales.
Ethan Allen Interiors Inc. (NYSE: ETH) will release its financial and operational results for the fiscal year 2020 and the fourth quarter ended June 30, 2020, on August 4, 2020, after market close. A conference call to discuss these results will take place at 5:00 PM (ET) and will be available for live streaming on the Company's Investor Relations website. Ethan Allen is a leading interior design company with around 300 design centers globally and owns nine manufacturing facilities, with approximately 75% of products made in North America.
Ethan Allen President, Chairman, and CEO Farooq Kathwari received the 2020 Ascend A-List Award at a virtual gala on May 28. This honor recognizes influential Pan-Asian leaders in business and government, with notable attendees such as Elaine Chao. Kathwari expressed pride in leading a quintessential American brand while promoting human rights globally. The Ascend A-List Awards aim to highlight the achievements of Pan-Asian business leaders and support initiatives like scholarships and research through the Ascend Foundation.
Ethan Allen Interiors Inc. reported financial results for Q3 of FY2020, revealing a net sales decline of 15.8% to $149.8 million amid COVID-19 disruptions. The company faced challenges due to lower order backlog from a membership model transition. Gross margin improved to 56.1%, driven by enhanced retail pricing strategies. However, diluted EPS fell to ($0.01), a stark contrast to last year’s $0.30. Despite cash on hand of $116.9 million, the company suspended dividends and share repurchases to conserve cash. The reopening of design centers and manufacturing is underway, with about 60% operational as of May 11, 2020.
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