Ethan Allen Interiors Inc. (NYSE:ETH) reported strong preliminary result for the second quarter. The company said it sees Q2 sales of $178.8 million and adjusted earnings of $0.67 to $0.69 per share.
The Connecticut-based company reported retail segment written orders growth of 44.9% over the prior year
Wholesale segment orders increased 28.1%. Excluding GSA and other government orders, wholesale segment orders grew 39.7%. Consolidated net sales of $178.8 million.
Adjusted diluted Earnings per Share in the range of $0.67 to $0.69.
ETH also reported Strong cash flow generation, with cash provided by operating activities of $23.7 million Cash on hand was $80.0 million and no debt as of December 31, 2020.
Paid regular quarterly dividends of $5.3 million during the quarter
In November, the Company’s Board of Directors increased the regular quarterly cash dividend by 19.0% and declared a regular quarterly cash dividend of $0.25 per share, payable on January 21.
CEO Farooq Kathwari declared, “We are very pleased that despite many challenges due to the ongoing COVID-19 pandemic, we had a strong performance. The increased consumer focus on the home has continued a strong demand for our product offerings and design services.
"With our Retail segment written orders, including our e-commerce business, up 44.9%, it has led to a record high order backlog at quarter-end.”
ETH shares chugged ahead $1.28, or 5.8%, to $23.21.
