Flexsteel Industries, Inc. Reports Fiscal First Quarter 2021 Results and Announces New $30 Million Share Repurchase Program

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Go back to Flexsteel Industries, Inc. Reports Fiscal First Quarter 2021 Results and Announces New $30 Million Share Repurchase Program

Flexsteel (FLXS) Reports Q1 EPS of $0.80 on Revenues of $105.2M

October 26, 2020 4:24 PM EDT

Flexsteel (NASDAQ: FLXS) reported Q1 EPS of $0.80, versus $0.00 reported last year. Revenue for the quarter came in at $105.2 million, versus $100.3 million reported last year.

Highlights for the First Quarter Ended September 30, 2020

Net sales increased 4.9% to $105.2 million compared to $100.3 million in the prior year quarterOrganic net sales1, excluding discontinued Vehicle Seating and Hospitality product lines, increased by 17.9%Record level backlog of $89 million driven by strong year-over-year order growth of 60% in retail home furnishingsGross margin increased to 21.7% compared to 17.2% in... More