Net sales from Hooker Branded segment decreased by 2.4% Y/Y, Home Meridian climbed 9.4%, and Domestic Upholstery gained 48.2%.
The gross profit jumped 60% Y/Y to $32 million, and the margin expanded over 600 basis points to 21.1%.
The operating margin was 4.2%, and operating income for the quarter was $6.4 million.
The company held $6.5 million in cash and equivalents as of October 30, 2022. Inventories at Q3 end stood at $133.9 million.
EPS of $0.42 beat the analyst consensus of $0.39.
On December 5, 2022, the company’s Board of Directors declared a quarterly cash dividend of $0.22 per share, payable on December 30, 2022, to shareholders of record on December 16, 2022. This represents a 10% increase over the previous quarterly dividend.
Price Action: HOFT shares traded higher by 1.38% at $17.60 in premarket on the last check Thursday.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.Ok
