Orders Rebound, Earnings Increase During Hooker Furniture’s Second Quarter
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Hooker Furniture (HOFT) Tops Q3 EPS by 14c, Revenues Miss
September 3, 2020 6:05 AM EDTHooker Furniture (NASDAQ: HOFT) reported Q3 EPS of $0.48, $0.14 better than the analyst estimate of $0.34. Revenue for the quarter came in at $130.5 million versus the consensus estimate of $153.17 million.
While the COVID-19 pandemic continued to impact the economy and our operations, our business began to rebound in mid-May and hasnt let up since, said Paul B. Toms Jr. chairman and chief executive officer. Fiscal July consolidated incoming orders were up 34% compared to a year ago, and backlogs were up 35%. Based on this unusually robust order rate for the summer months, we continue to believe... More
