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Flexsteel Industries, Inc. (NASDAQ:FLXS) appoints Derek P. Schmidt as President and CEO effective July 1, 2024, succeeding Jerald K. Dittmer. Schmidt, with almost 30 years of experience in financial and management roles, has been instrumental in driving the Company's transformation and growth strategy over the past four years. Dittmer, who has led significant business transformation, will stay on as a Strategic Advisor until December 31, 2024, aiding in a smooth transition to Schmidt.
Flexsteel Industries, Inc. reported strong fiscal third quarter 2024 results with 8% sales growth, improved operating margin, and continued debt reduction. The company achieved net sales of $107.2 million, representing an 8.2% increase from the prior year quarter. Gross margin expanded to 21.7%, operating income improved to $3.0 million, and adjusted net income per diluted share rose to $0.67.
