Flexsteel Industries, Inc. Provides Update on Restructuring and Reports Fiscal Fourth Quarter and Full Year 2019 Results
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Flexsteel (FLXS) Reports Q4 Loss of $0.28; Provides Update on Restructuring
August 26, 2019 4:10 PM EDTFlexsteel (NASDAQ: FLXS) reported Q4 EPS of ($0.28), versus $0.28 reported last year. Revenue for the quarter came in at $100.21 million, versus $113.09 million reported last year.
We continue to focus on our restructuring plan with the goal of enhanced ROI and value creation for shareholders, said Jerry Dittmer, President and CEO of Flexsteel Industries. On April 30, we announced our plans to start the restructuring process, and since then we have made significant progress. After fully assessing the business and future opportunities, we developed a strategy for the restructuring and subsequent profit improvement and moved quickly to... More
