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Last $24.70 USD
Change Today -0.57 / -2.26%
Volume 86.7K
As of 8:10 PM 06/1/15 All times are local (Market data is delayed by at least 15 minutes).

hooker furniture corp (HOFT) Key Developments

Hooker Furniture Corp. Announces Consolidated Earnings Results for the Fourth Quarter and Year Ended February 1, 2015

Hooker Furniture Corp. announced consolidated earnings results for the fourth quarter and year ended February 1, 2015. For the quarter, the company's net sales were $64.9 million compared with $57.6 million a year ago. Operating income was $6.5 million compared with $3.5 million a year ago. Income before income taxes was $6.7 million compared with $3.5 million a year ago. Net income was $4.3 million or $0.40 per diluted share compared with $1.99 million or $0.19 per diluted share a year ago. This was due to higher net sales in all segments, decreased discounting in the case goods segment and lower upholstery manufacturing costs. For the year, the company's net sales were $244.4 million compared with $228.3 million a year ago. Operating income was $19.0 million compared with $12.5 million a year ago, over the prior year primarily due to a case goods segment operating profitability improvement of $5.1 million and upholstery segment operating profitability increase of nearly one million dollars. Income before income taxes was $19.4 million compared with $12.5 million a year ago. Net income was $12.6 million or $1.16 per diluted share compared with $7.9 million or $0.74 per diluted share a year ago. The increase in net income was driven by operating profitability improvements in all segments. Net cash provided by operating activities was $22.8 million compared with $5.7 million a year ago. Purchases of property, plant and equipment was $2.99 million compared with $3.5 million a year ago.

Hooker Furniture Seeks Acquisitions

Hooker Furniture Corp. (NasdaqGS:HOFT) is seeking acquisitions. Paul Toms, Hooker's Chairman and Chief Executive Officer, said, "We are always looking at acquisitions. We feel like we've got not only the excess cash but the borrowing capacity to make a meaningful acquisition. Absent being able to find an acquisition that fits us strategically, we have a share repurchase plan in place. And we always have the option of increasing the dividend which up until today has been a little bit over 2%, but our preference - and I think most of our investors' preference -- is to make a smart acquisition that would help grow the Company beyond the organic growth and the strategic initiatives that we've been able to enjoy."

Hooker Furniture Corp., Q4 2015 Earnings Call, Apr 07, 2015

Hooker Furniture Corp., Q4 2015 Earnings Call, Apr 07, 2015

Hooker Furniture Declares Quarterly Dividend Payable on April 3, 2015

Hooker Furniture announced that on March 10, 2015, its board of directors declared a quarterly cash dividend of $0.10 per share, payable on April 3, 2015, to shareholders of record at March 20, 2015.

Hooker Furniture Corp. Provides Capital Expenditures Guidance for the Full Year of Fiscal 2015

Hooker Furniture Corp. provided capital expenditures guidance for the full year of fiscal 2015. For the year, the company expects to spend between $500,000 and $750,000 on capital expenditures, primarily its ERP implementation and other projects to improve its manufacturing efficiency and capacity.

 

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HOFT Competitors

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Company Last Change
Bassett Furniture Industries Inc $29.02 USD +0.66
Flexsteel Industries Inc $37.35 USD -0.42
Nova Lifestyle Inc $2.10 USD -0.14
Stanley Furniture Co Inc $3.11 USD -0.01
Virco Manufacturing Corp $2.63 USD 0.00
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Industry Analysis

HOFT

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Valuation HOFT Industry Range
Price/Earnings 21.7x
Price/Sales 1.1x
Price/Book 1.9x
Price/Cash Flow 21.7x
TEV/Sales 1.0x
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