Ethan Allen Interiors Inc. posted lower fiscal second-quarter profits as special one-time charges masked a jump in sales and margins for the Danbury home furnishings maker-retailer.
For three months ended Dec. 31, Ethan Allen netted $8.1 million, or 28 cents a share, down from $14.7 million, or 51 cents a share, netted the same period a year earlier.
Without the special items, earnings were 30 cents a share in the latest quarter vs. 19 cents a year ago.
Gross margin increased to 53.6 percent in the latest quarter from 51.8 percent a year earlier.
Second-quarter sales rose 5.7 percent to $183.3 million vs. $173.4 million a year ago.
Meantime, the company declared a 7-cents-a-share dividend to be paid April 25 to common stockholders on the books by April 10.
