Welcome to our dedicated page for Flexsteel Inds news (Ticker: FLXS), a resource for investors and traders seeking the latest updates and insights on Flexsteel Inds stock.
Flexsteel Industries reports developments in its residential furniture manufacturing, importing, and marketing business. Company news centers on fiscal operating results, demand trends, tariff and pricing effects, product development, and distribution through retail partners and online channels. Its residential furniture portfolio is associated with seating and home furnishings built around the patented Blue Steel Spring technology.
Recurring updates also cover capital allocation, including quarterly cash dividends, common stock repurchases, and balance-sheet actions. Governance and shareholder matters appear when board actions, incentive plans, or other corporate decisions affect the company’s public-company structure.
Flexsteel Industries reported a strong Q4 for fiscal 2021, achieving net sales of $136.2 million, a 110% increase from the previous year. For the full year, net sales rose 30.5% to $478.9 million. The company noted a record retail backlog of $152 million, a 238.3% increase year-over-year. Gross margin improved significantly to 19.4% in Q4, compared to 9.2% a year earlier. Flexsteel reported net income of $5.8 million ($0.81 per share) for the quarter, reversing a net loss of $25.7 million in the prior year. Management expressed confidence in continued growth despite ongoing supply chain challenges.
Flexsteel Industries, Inc. (NASDAQ:FLXS) will announce its fourth quarter 2021 financial results after market close on August 23, 2021. An earnings conference call is scheduled for August 24, 2021, at 8:00 a.m. Central Time, where analysts and investors can discuss the results. For convenience, pre-registration for the call is available to streamline participation. Flexsteel is prominent in the U.S. furniture market, offering diverse products through eCommerce and direct sales.
Flexsteel Industries, Inc. (NASDAQ:FLXS) announced a quarterly dividend of $0.15 per share, payable on July 12, 2021, to shareholders of record by June 30, 2021. This marks the 318th consecutive quarterly cash dividend since 1938, reflecting the company's commitment to returning value to shareholders. Flexsteel is one of the largest manufacturers and marketers of furniture in the U.S., offering a wide range of products through both eCommerce and direct sales channels.
Flexsteel Industries, Inc. (NASDAQ:FLXS) announced the appointment of Kathryn (Katy) P. Dickson as an independent director effective June 14, 2021. Dickson is recognized for her strategic leadership in digital transformation and brand innovation across notable companies including Tilray, Mattel, and General Mills. Chairman Thomas M. Levine and CEO Jerry Dittmer expressed their optimism, citing her experience in omni-channel strategies as a vital asset for enhancing Flexsteel's growth and customer experience. Dickson holds a B.S. from the U.S. Air Force Academy and an MBA from UCLA.
Flexsteel Industries, Inc. (NASDAQ:FLXS) has released a new investor presentation available on their website. This presentation details the company's business model, growth strategies, and financial goals. Flexsteel is recognized as one of the largest furniture manufacturers in the U.S., offering a diverse range of products including sofas, chairs, and bedroom furniture. Their unique steel drop-in seat spring design is a hallmark of their upholstered items, contributing to their brand identity.
Flexsteel Industries (NASDAQ:FLXS) announced that Jerry Dittmer, President and CEO, along with CFO Derek Schmidt, will present at the Sidoti & Company LLC Microcap Virtual Investor Conference on May 19, 2021, at 10:00 a.m. Eastern Time. The event will be webcast live and available for replay for 90 days post-conference. Flexsteel is a leading manufacturer and marketer of furniture in the U.S., offering products like sofas, chairs, and tables, known for its unique steel drop-in seat spring, which inspired the company’s name.
Flexsteel Industries (NASDAQ:FLXS) reported a strong third quarter for fiscal 2021, with net sales rising 19.8% to $118.4 million. Organic sales surged 32.9% as retail home furnishings backlog reached a record $140 million, up 314% year-over-year. Gross margin improved to 19.5% from 14.0%, showcasing enhanced operational efficiency. The company posted a GAAP net income of $4.9 million or $0.67 per diluted share, rebounding from a loss of ($5.3 million) in the same quarter last year.
Flexsteel Industries, Inc. (NASDAQ:FLXS) will release its third quarter 2021 financial results on April 26, 2021, after market close. The Company, a leading manufacturer and marketer of furniture in the U.S., will hold a conference call on April 27, 2021, at 8:00 a.m. Central Time to discuss the results. Investors can access the earnings release and join the call via provided phone numbers or an online registration link. Flexsteel offers a range of upholstered furniture products and markets them primarily through eCommerce and a direct sales force.
Flexsteel Industries, Inc. (NASDAQ:FLXS) declared a quarterly dividend of $0.15 per share, a 50% increase from the previous $0.10. This dividend is payable on March 29, 2021, to shareholders of record as of March 17, 2021. Flexsteel has maintained cash dividends annually since 1938, marking the 317th consecutive quarterly dividend. As one of the largest furniture manufacturers in the U.S., Flexsteel offers a broad range of products, including upholstered furniture and bedroom sets, distributed via eCommerce and direct sales.
Flexsteel Industries (NASDAQ:FLXS) reported a 15.7% increase in net sales to $119.1 million for Q2 FY2021, up from $102.9 million year-over-year. Organic sales grew 25.5%, with a backlog of $101 million, marking a 49% increase in orders. Gross margin improved to 20.5% from 15.6%. The company posted a net income of $8.5 million or $1.13 per diluted share, reversing last year's loss of ($0.68). Challenges include global supply chain constraints but plans for a new manufacturing facility in Mexico aim to enhance production capacity.