Exhibit 99.1

 

Ethan Allen Reports Fiscal Year 2019 and Fourth Quarter Results.

Fiscal 2019 Diluted EPS of $0.96, Adjusted EPS Increase 15.6% and Cash Dividends of $47 Million Increase 59.2%

 

 

DANBURY, CT – July 31, 2019 – Ethan Allen Interiors Inc. (“Ethan Allen” or the “Company”) (NYSE: ETH) today reported financial results for its fiscal year and fourth quarter ended June 30, 2019.

 

FULL FISCAL YEAR 2019 COMPARED TO PRIOR FISCAL YEAR*

 

 

Diluted EPS of $0.96 compared with $1.32. Adjusted diluted EPS increased 15.6% to $1.56 compared with $1.35.

 

 

Generated $55.2 million of cash from operating activities, up from $42.5 million last year.

 

 

Cash dividends paid of $47.0 million, a 59.2% increase compared with $29.5 million paid in the prior fiscal year.

 

 

Consolidated net sales of $746.7 million compared with $766.8 million. Retail net sales increased 0.4% to $589.8 million while wholesale net sales decreased to $441.6 million compared with $475.7 million.

 

 

Total international sales decreased $27.4 million.

 

 

Consolidated gross margin of 54.8% compared with 54.2%. Adjusted gross margin of 55.1% compared to 54.2%.

 

 

Consolidated operating margin of 4.5% compared with 6.4%. Adjusted operating margin increased to 7.4% compared with 6.5%.

 

 

During fiscal 2019, the Company had taken on bank debt of $16.0 million, which was repaid prior to June 30, 2019.

 

FOURTH QUARTER FISCAL 2019 COMPARED TO FOURTH QUARTER FISCAL 2018*

 

 

Diluted loss per share amounted to $0.12 on a net loss of $3.3 million. Adjusted diluted EPS increased 7.0% to $0.46 compared with $0.43.

 

 

Cash provided by operating activities up 47.7% to $10.9 million.

 

 

Consolidated net sales of $183.9 million compared with $205.6 million. Retail net sales decreased 5.7% to $147.2 million while wholesale net sales decreased to $107.5 million compared with $127.3 million in the prior year fourth quarter.

 

 

Total international sales decreased $11.6 million.

 

 

Consolidated gross margin of 54.8% compared with 54.1%. Adjusted gross margin of 55.9% compared to 54.1%.

 

 

The fourth quarter of fiscal 2019 includes pre-tax charges of $20.5 million related primarily to restructuring actions and asset impairments, which negatively impacted diluted EPS by $0.58.

 

* See reconciliation of U.S. GAAP to adjusted key financial measures in the back of this press release

 

Page 1

The following information was filed by Ethan Allen Interiors Inc (ETH) on Wednesday, July 31, 2019 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.

View differences made from one year to another to evaluate Ethan Allen Interiors Inc's financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-K Annual Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Ethan Allen Interiors Inc.

Continue

Never Miss A New SEC Filing Again


Real-Time SEC Filing Notifications
Screenshot taken from Gmail for a new 10-K Annual Report
Last10K.com Member Feature

Receive an e-mail as soon as a company files an Annual Report, Quarterly Report or has new 8-K corporate news.

Continue

We Highlighted This SEC Filing For You


SEC Filing Sentiment Analysis - Bullish, Bearish, Neutral
Screenshot taken from Wynn's 2018 10-K Annual Report
Last10K.com Member Feature

Read positive and negative remarks made by management in their entirety without having to find them in a 10-K/Q.

Continue

Widen Your SEC Filing Reading Experience


Increased Reading Area for SEC Filings
Screenshot taken from Adobe Inc.'s 10-Q Quarterly Report
Last10K.com Member Feature

Remove data columns and navigations in order to see much more filing content and tables in one view

Continue

Uncover Actionable Information Inside SEC Filings


SEC Filing Disclosures
Screenshot taken from Lumber Liquidators 10-K Annual Report
Last10K.com Member Feature

Read both hidden opportunities and early signs of potential problems without having to find them in a 10-K/Q

Continue

FREE Adobe PDF, Microsoft Word and Excel Downloads


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshots of actual 10-K and 10-Q SEC Filings in PDF, Word and Excel formats
Last10K.com Member Feature

Export Annual and Quarterly Reports to Adobe PDF, Microsoft Word and Excel for offline viewing, annotations and analysis

Continue for FREE

Log in with your credentials

or    

Forgot your details?

Create Account