Ethan Allen Interiors Q2 Profit Down, Results Miss Estimates; Stock Down

(RTTNews) - Ethan Allen Interiors Inc. (ETH) reported that its net income for the second-quarter ended December 31, 2014 declined to $10.0 million or $0.34 per share from $11.6 million or $0.39 per share in the prior year quarter.

Excluding special items in both periods, adjusted earnings for the quarter were $0.37 per share or $10.8 million compared to $0.41 per share or $11.9 million in the prior year quarter. Analysts polled by Thomson Reuters expected the company to report earnings of $0.45 per share for the quarter. Analysts' estimates typically exclude special items.

Consolidated net sales for the quarter ended December 31, 2014 increased 2.1% over the prior year to $197.1 million. Wall Street expected revenues of $202.22 million. The Company's wholesale segment net sales increased 2.7%. The Company's retail segment net sales increased 1.1% to $153.2 million including a comparable design center net sales increase of 1.8%.

The Company announced that its Board has declared a regular quarterly cash dividend of $0.12 per share which will be payable to shareholders of record as of Friday, April 10, 2015 and will be paid on Monday, April 27, 2015.

Farooq Kathwari, Chairman and CEO commented, said,"Looking ahead we have another six months of major changes as we further update our offerings and continue to strengthen our advertising and manufacturing. We remain cautiously optimistic as we move forward."

ETH closed Tuesday trading at $31.65, down $0.49 or 1.52%. In after hours, the stock further dropped $3.65 or 11.53%.