Ethan Allen Reports Lower Profit as Sales Decline on Sluggish Demand

Dow Jones07-30

Ethan Allen reported lower profit and revenue in the fourth quarter as sluggish demand and lower design center traffic weighed on results.

The furniture maker reported a net income of $11.8 million, or 46 cents a share, compared with a profit of $12.3 million, or 48 cents a share, a year earlier.

Adjusted earnings were 36 cents a share.

Revenue fell 8% to $146.8 million from $160.4 million.

Ethan Allen said written orders declined in both its retail and wholesale segments amid lower traffic and macro uncertainty, with tariffs pressuring margins and cost controls and efficiencies providing a partial offset.

The company said it ended the quarter debt free with $187.5 million in cash and investments and declared a special cash dividend of 25 cents a share and a regular quarterly dividend of 39 cents a share, both payable Aug. 26.

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