Exhibit 99.1

 

ETHAN ALLEN REPORTS FOURTH QUARTER AND FISCAL YEAR ENDED JUNE 30, 2017 RESULTS

 

 

 

 

 

 

 

 

 

 

DANBURY, CT – July 26, 2017 – Ethan Allen Interiors Inc. ("Ethan Allen" or the "Company") (NYSE: ETH) today reported operating results for the fiscal 2017 fourth quarter and full fiscal year ended June 30, 2017. Please refer to the accompanying financial statements and reconciliation to non-GAAP measures discussed below.

 

Summary Financial Information for Fourth Fiscal Quarter Ended June 30, 2017:

 

Cash returned to stockholders totaled $12.2 million in share repurchases and dividends.

 

Consolidated net sales of $194.9 million, compared to $205.7 in the previous year.

 

Operating margin of 9.5%, compared to previous year of 12.5%; adjusted operating margin of 9.5%, compared to previous year of 12.3%. (See Exhibit 1 for a reconciliation of GAAP to non-GAAP operating margin)

 

Diluted earnings per share (“EPS”) of $0.42 compared to previous year of $0.60; adjusted EPS of $0.42 compared to previous year adjusted EPS of $0.57 when adjusted EPS increased 32.6%. (See Exhibit 1 for a reconciliation of GAAP to non-GAAP EPS)

 

Summary Financial Information for the Fiscal Year Ended June 30, 2017:

 

Cash returned to stockholders totaled $30.2 million in share repurchases and dividends.

 

Consolidated net sales of $763.4 million, compared to $794.2 million in previous fiscal year.

 

Operating margin of 7.6% and adjusted operating margin of 8.5% compared to 11.2% and 10.9% respectively in previous fiscal year. (See Exhibit 1 for a reconciliation of GAAP to non-GAAP EPS)

 

EPS of $1.29 compared to previous year of $2.00; adjusted EPS of $1.45 compared to $1.92 in the previous fiscal year. (See Exhibit 1 for a reconciliation of GAAP to non-GAAP EPS)

 

Farooq Kathwari, Chairman and CEO, stated, “As we stated in our preliminary release of July, 17, 2017 prior to our Investor Meeting, fiscal 2017 was a ‘year of action’ where we completed many initiatives and also launched major new initiatives. As we enter fiscal 2018 we are well positioned to grow with refreshed and relevant product offerings, a strong North American manufacturing, logistics and retail network, investments in technology, increased advertising and expanded marketing channels.”

 

Mr. Kathwari concluded, “The fourth quarter retail written orders were up 1.9% over the prior year, with strong May and June orders ending the fiscal year on a positive note. So far in July, written orders have continued a strong positive trend and we remain cautiously optimistic.”

 

 

 

 
 

The following information was filed by Ethan Allen Interiors Inc (ETH) on Wednesday, July 26, 2017 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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