(Source: Datamonitor)
Ethan Allen Interiors, a manufacturer and retailer of home furnishings and accessories, has reported a net loss of $13.58 million, or $0.47 per share, for the first quarter ended September 30, 2009, compared to a net income of $7.42 million, or $0.26 per share, for the first quarter of the previous year.
For the first quarter ended September 30, 2009, net sales were $136.19 million, compared to $205.84 million for the same quarter of the prior year.
Farooq Kathwari, chairman and CEO, said: "The downturn has enabled us to reposition our business in all major areas. We have consolidated our US manufacturing and logistics to make it more efficient while we have reduced our cost structure in all areas of our enterprise during the last year. We have now started to selectively increase our associates both at manufacturing and at retail."
A service of YellowBrix, Inc.
