Hooker Furniture Posts Q4 Results

Hooker Furniture has recently announced its earnings results for the fourth quarter last Thursday. The company indicated a profit gain of 75 cents per share and a total net sales of $8.8 million.

Also in the same period, the furnishing company recorded a revenue of $175.5 increase after posting higher sales in most segments. Furthermore, Shenandoah Furniture –  a recent acquisition – attributed to the 80% recorded for the quarter.

“We’re pleased with our performance for the fiscal year, with solid sales growth, double-digit gains in profitability and strong cash flow generation.” Chairman and chief executive officer Paul B. Toms Jr. told reports.

Hooker Furniture has been an industry leader for quality bedroom sets, dining room sets, living room furnishings, and home office furniture for over 90 years.

As for the shares of Hooker Furniture, the company saw declines since the beginning of the year. Records show a 12% decline during the year. In a yearly performance however, the stock increased 19% generally.

“Over the last few years, our strategy has been to leverage the financial strength of our traditional businesses to grow profitably, both organically and through acquisitions”. Toms expressed further.

“That strategy has helped us build a more diverse and robust portfolio of brands yielding strong results, as we focus our resources and management around winning distribution channels, products and price-points.”

Hooker Furniture: Hooker Branded

Revenues from the Hooker Branded segment also recorded increases during the period. The sector indicated a 5.1% increase in the fourth quarter which was $8.1 million in monetary value. The upsurge rooted from the positive growth results of Hooker Upholstery.

“Hooker Branded is a significant earnings engine for the company that has allowed us to fund many of our growth initiatives. ” Toms added.

According to Toms, the strength of the recovery of  Hooker Upholstery showed future potential of that business unit. It also displayed the value it offers to their customers.

Furthermore, the board of directors of Hooker Furniture announced a quarterly cash dividend of $0.14 per share.  This will be payable on March 30, 2018 to shareholders of record at March 19, 2018.

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