Flexsteel Net Rises 5.8 Percent in Third Quarter
April 20, 2011,
DUBUQUE, Iowa-Net income for furniture manufacturer Flexsteel increased 5.8 percent, to $2.5 million, in its fiscal third quarter, which ended on March 31.
The company said its net sales gained 4.6 percent in the quarter, to $85.2 million, helped along by a 5.6 percent increase in net sales by its residential segment. While selling, general and administrative expenses picked up 3.1 percent on a dollar basis, they fell 24 basis points, to 17.1 percent, as a percentage of net sales.
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