Exhibit 99.1


Ethan Allen Reports Fiscal 2020 Second Quarter Results




DANBURY, CT – February 4, 2020 – Ethan Allen Interiors Inc. (“Ethan Allen” or the “Company”) (NYSE: ETH) reported financial results for its second quarter ended December 31, 2019.





Consolidated net sales of $174.6 million compared with $197.2 million.



Consolidated gross margin of 55.9% compared with 55.2%. Adjusted gross margin of 56.1%.



Consolidated operating margin of 5.3% compared with 8.2%. Adjusted operating margin of 5.4%.



Diluted earnings per share (“EPS”) of $0.27 compared with $0.45 a year ago.



Cash of $28.3 million, up 35.9% from June 30, 2019 and no debt.



Paid regular quarterly cash dividend of $5.6 million.



Repurchased 545,727 shares, representing 2.1% of the Company’s outstanding shares.



Increased the share repurchase authorization to 3 million shares.


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


Farooq Kathwari, Ethan Allen’s Chairman, President and CEO commented, “As we mentioned in our press release on January 13, 2020, the implementation of the Ethan Allen Member Program was expected to impact our sales and profitability during the initial year and, in particular, for the quarters ending December 31, 2019 and March 31, 2020. The Ethan Allen Member Program provides special members-only pricing, free shipping and white glove in-home delivery, complimentary interior design service, and in our U.S. design centers, access to special financing options.”


“We continue to strengthen our product offerings, projection and marketing. In January, we distributed 2.5 million copies of our direct mail magazine and launched a strong national radio program and digital advertising. Our plans for February and March are to continue our strong marketing in various mediums including television, digital, radio and print,” Mr. Kathwari continued.


“We are pleased that our unique vertical structure continues to provide strong operating leverage to allow us to consistently return value to our shareholders through regular quarterly dividends, periodic special cash dividends and share repurchases. During the second quarter we paid $5.6 million in cash dividends and repurchased 545,727 shares, representing 2.1% of our outstanding shares. On January 13, 2020, the Board of Directors increased the share repurchase authorization to three million shares and we plan to continue to strategically repurchase our shares. We continue to strengthen our talent, marketing, retail network, products, manufacturing, logistics and technology, while also maintaining our focus on good governance and social responsibility,” Mr. Kathwari concluded.


Page 1

The following information was filed by Ethan Allen Interiors Inc (ETH) on Tuesday, February 4, 2020 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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