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Ethan Allen Profit Up $6M

DANBURY, CT-Despite tough competition from low-cost furniture outlets, Ethan Allen saw its profits increase by $6 million during it Q2.

By Beverly Ford | Updated on July 29, 2005

DANBURY, CT-A boost in retail sales helped offset a decline in wholesale demand to drive quarterly profits to $19.5 million, or 56 cents per share, for Ethan Allen Interiors Inc., the home furniture maker announced.

The $6 million increase topped second quarter profits in 2004 when restructuring and impairment charges of $12.8 million in left the company with profits of $12.5 million or 53 cents per share.

The results for the quarter ending June 30 was 2 cents above the mean estimate of industry analysts who had expected the Danbury, CT-based company to earn 54 cents a share in the quarter.

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