{"id":414409,"date":"2021-01-13T16:08:12","date_gmt":"2021-01-13T21:08:12","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=414409"},"modified":"2021-01-13T16:08:12","modified_gmt":"2021-01-13T21:08:12","slug":"ethan-allen-provides-business-updates-and-announces-earnings-release-date-for-fiscal-2021-second-quarter-results","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/ethan-allen-provides-business-updates-and-announces-earnings-release-date-for-fiscal-2021-second-quarter-results\/","title":{"rendered":"Ethan Allen Provides Business Updates and Announces Earnings Release Date for Fiscal 2021 Second Quarter Results"},"content":{"rendered":"<div class=\"mw_release\">\n<p>Danbury, CT, Jan.  13, 2021  (GLOBE NEWSWIRE) &#8212; Ethan Allen Interiors Inc. (\u201cEthan Allen\u201d or the \u201cCompany\u201d) (NYSE: ETH) today provided several updates on its business.<\/p>\n<p align=\"justify\">Farooq Kathwari, Ethan Allen\u2019s Chairman, President and CEO commented, \u201cWe are very pleased that despite many challenges due to the ongoing COVID-19 pandemic, we had a strong performance.\u00a0The increased consumer focus on the home has continued a strong demand for our product offerings and design services. With our Retail segment written orders, including our e-commerce business, up 44.9%, it has led to a record high order backlog at quarter-end.\u201d<\/p>\n<p align=\"justify\">\n        <strong>Preliminary Financial Results<\/strong>\n      <\/p>\n<p align=\"justify\">The Company expects to report the following financial results for its second quarter ended December 31, 2020:<\/p>\n<ul type=\"disc\">\n<li>Retail segment written orders growth of 44.9% over the prior year<\/li>\n<li>Wholesale segment orders increased 28.1%. Excluding GSA and other government orders, wholesale segment orders grew 39.7%.\u00a0<\/li>\n<li>Consolidated net sales of $178.8 million<\/li>\n<li>Adjusted diluted EPS in the range of $0.67 to $0.69<\/li>\n<li>Strong cash flow generation, with cash provided by operating activities of $23.7 million<\/li>\n<li>Cash on hand of $80.0 million and no debt as of December 31, 2020<\/li>\n<li>Paid regular quarterly dividends of $5.3 million during the quarter<\/li>\n<li>On November 12, 2020, the Company\u2019s Board of Directors increased the regular quarterly cash dividend by 19.0% and declared a regular quarterly cash dividend of $0.25 per share, payable on January 21, 2021<\/li>\n<\/ul>\n<p align=\"justify\">Mr. Kathwari continued, \u201cWe ended the quarter with a strong balance sheet, including cash on hand of $80.0 million while growing our consolidated gross and operating margins through disciplined cost and expense controls. We have an opportunity to continue our growth in sales and profitability due to our strong retail network, the personal service of our\u00a0interior design professionals, our unique vertical integration whereby 75% of products are made in our North American manufacturing workshops and our national distribution centers delivering product with white glove service to our client\u2019s home.\u201d<\/p>\n<p align=\"justify\">\u201cAs we head into the 2021 calendar year, we will remain focused on employee safety, continue investing in digital design and interactive communication technologies, growing our business and generating strong cash flow, refining and repositioning our product offerings to reach a larger client base and leveraging our vertical integration,\u201d concluded Mr. Kathwari.<\/p>\n<p align=\"justify\">\n        <strong>Fiscal Second Quarter Analyst Conference Call<\/strong>\n      <\/p>\n<p align=\"justify\">The Company also announced today that it will release its financial and operating results for the fiscal 2021 second quarter ended December 31, 2020, after the market closes on Thursday, January 28, 2021.<\/p>\n<p align=\"justify\">Following the release, the Company will host an analyst conference call at 5:00 PM (Eastern Time) to discuss its results. The analyst conference call will be webcast live from the Company\u2019s Investor Relations website at <a href=\"https:\/\/ir.ethanallen.com\/\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">https:\/\/ir.ethanallen.com<\/a>.<\/p>\n<p align=\"justify\">To access the conference call, dial 877-705-2976 (or 201-689-8798 for international participants), and enter Meeting Number 13714570. For those unable to listen live, an archived recording of the call will be made available on the Company&#8217;s website for at least 60 days.<\/p>\n<p align=\"justify\">\n        <strong>ABOUT ETHAN ALLEN<\/strong>\n      <\/p>\n<p align=\"justify\">Ethan Allen Interiors Inc. (NYSE: ETH) is a leading interior design company, manufacturer and retailer in the home furnishings marketplace. Today the Company is a global luxury international home fashion brand that is vertically integrated from design through delivery, which affords its clientele a value proposition of style, quality and price.\u00a0The Company provides complimentary interior design service to its clients and sells a full range of furniture products and decorative accents through a retail network of approximately 300 design centers in the United States and abroad as well as online at ethanallen.com. The design centers represent a mix of independent licensees and Company-owned and operated locations.\u00a0The Company operates retail design centers located in the United States and Canada.\u00a0The independently operated design centers are located in the United States, Asia, the Middle East and Europe. Ethan Allen owns and operates nine manufacturing facilities, including six manufacturing plants in the United States, two manufacturing plants in Mexico and one manufacturing plant in Honduras. Approximately 75% of its products are manufactured or assembled in these North American facilities.<\/p>\n<p align=\"justify\">For more information on Ethan Allen&#8217;s products and services, visit\u00a0<a href=\"http:\/\/www.ethanallen.com\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">www.ethanallen.com<\/a>.<\/p>\n<p>\n        <em>Investor \/ Media Contact:<\/em> \u00a0<br \/>Matt McNulty<br \/> Vice President, Finance<br \/><u>IR@ethanallen.com<\/u><\/p>\n<p align=\"justify\">\n        <strong>ABOUT NON-GAAP FINANCIAL MEASURES<\/strong>\n      <\/p>\n<p align=\"justify\">In this news release the Company has included a financial measure that is not prepared in accordance with U.S. generally accepted accounting principles (\u201cGAAP\u201d). The Company computes the non-GAAP financial measure of adjusted diluted EPS by adjusting GAAP diluted EPS to remove the impact of certain charges \u00a0and the related tax effect of these adjustments. The presentation of this non-GAAP financial measure is not intended to be considered in isolation or as a substitute for, or superior to, the financial measure presented in accordance with GAAP. The Company uses this non-GAAP financial measure for financial and operational decision making and to evaluate period-to-period comparisons. The Company believes that it provides useful information about operating results, enhances the overall understanding of past financial performance and prospects, and allows for greater transparency with respect to key metrics used by management in its financial and operational decision making.<\/p>\n<p align=\"justify\">\n        <strong>FORWARD-LOOKING STATEMENTS<\/strong>\n      <\/p>\n<p align=\"justify\">This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the \u201cExchange Act\u201d), which represent management&#8217;s beliefs and assumptions concerning future events based on information currently available to the Company relating to its future results. Such forward-looking statements are identified in this news release incorporated herein by reference by use of forward-looking words such as \u201canticipate,\u201d \u201cestimate,\u201d \u201cexpect,\u201d \u201cproject,\u201d \u201cplan,\u201d \u201cintend,\u201d \u201cbelieve,\u201d \u201ccontinue,\u201d \u201cmay,\u201d \u201cwill,\u201d \u201cshort-term,\u201d \u201ctarget,\u201d \u201coutlook,\u201d \u201cforecast,\u201d \u201cfuture,\u201d \u201cstrategy,\u201d \u201copportunity,\u201d \u201cwould,\u201d \u201cguidance,\u201d \u201cnon-recurring,\u201d \u201cone-time,\u201d \u201cunusual,\u201d \u201cshould,\u201d \u201clikely,\u201d \u201cCOVID-19 impact,\u201d\u00a0and similar expressions and the negatives of such forward-looking words. These forward-looking statements are subject to management decisions and various assumptions about future events and are not guarantees of future performance. Actual results could differ materially from those anticipated in the forward-looking statements due to a number of risks and uncertainties including, but not limited to the following: the ongoing global\u00a0COVID-19 pandemic may continue to\u00a0materially\u00a0adversely affect the Company\u2019s business, its results of operations and overall financial performance; additional funding from external sources may not be available at the levels required, or may cost more than expected; declines in certain economic conditions, which impact consumer confidence and consumer spending; an overall decline in the health of the economy and consumer spending may affect consumer purchases of discretionary items; a significant shift in consumer preference toward purchasing products online; ability to maintain\u00a0and\u00a0enhance\u00a0the Ethan Allen\u00a0brand; failure\u00a0to successfully anticipate or respond to changes in consumer tastes\u00a0and\u00a0trends; global\u00a0and\u00a0local\u00a0economic uncertainty may materially adversely affect manufacturing operations or sources of merchandise and international operations; competition\u00a0from\u00a0overseas manufacturers\u00a0and domestic retailers; disruptions in the supply chain; the number of manufacturing and logistics sites\u00a0may\u00a0increase\u00a0exposure to business\u00a0disruptions\u00a0and could result\u00a0in higher\u00a0transportation\u00a0costs; fluctuations\u00a0in\u00a0the\u00a0price,\u00a0availability\u00a0and\u00a0quality\u00a0of\u00a0raw\u00a0materials\u00a0could\u00a0result\u00a0in increased costs or cause production delays; current and\u00a0former manufacturing\u00a0and\u00a0retail operations and products are subject to increasingly stringent environmental, health\u00a0and safety requirements; product recalls or product safety concerns; reliance on information technology systems to process transactions, summarize results, and manage its business and that of certain independent\u00a0retailers; disruptions in both primary and back-up systems; successful cyber-attacks and the ability to maintain adequate cyber-security systems and procedures; loss, corruption and misappropriation of data and information relating to customers; changes in United States trade and tax policy; reliance on certain key personnel; loss of key personnel or inability to hire additional qualified personnel; additional asset impairment charges that could reduce profitability; access to\u00a0consumer credit could be interrupted; inability to maintain current design center locations at current costs; failure to successfully \u00a0select and secure design center locations; changes to tax policies; hazards and risks which may not be fully covered by insurance; possible failure to protect the Company\u2019s intellectual property; and other factors disclosed in Part I, Item 1A. <em>Risk Factors, <\/em>in the Company\u2019s 2020 Annual Report on Form 10-K.<\/p>\n<p align=\"justify\">Given the risks and uncertainties surrounding forward-looking statements, you should not place undue reliance on these statements. Many of these factors are beyond the Company\u2019s ability to control or predict. These forward-looking statements speak only as of the date of this news release. Other than as required by law, the Company undertakes no obligation to update or revise its forward-looking statements, whether because of new information, future events, or otherwise. Accordingly, actual circumstances and results could differ materially from those contemplated by the forward-looking statements.<\/p>\n<p \/>\n      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODEyNTQ2NCMzOTE3OTg3IzIwMDcwNjY=\" width=\"1\" height=\"1\" \/><br \/>\n      <br \/>\n      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/ml.globenewswire.com\/release\/track\/4205f2ee-c8b2-492c-b639-9ce516f13bf2\" width=\"1\" height=\"1\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Danbury, CT, Jan. 13, 2021 (GLOBE NEWSWIRE) &#8212; Ethan Allen Interiors Inc. (\u201cEthan Allen\u201d or the \u201cCompany\u201d) (NYSE: ETH) today provided several updates on its business. Farooq Kathwari, Ethan Allen\u2019s Chairman, President and CEO commented, \u201cWe are very pleased that despite many challenges due to the ongoing COVID-19 pandemic, we had a strong performance.\u00a0The increased consumer focus on the home has continued a strong demand for our product offerings and design services. With our Retail segment written orders, including our e-commerce business, up 44.9%, it has led to a record high order backlog at quarter-end.\u201d Preliminary Financial Results The Company expects to report the following financial results for its second quarter ended December 31, 2020: Retail segment written orders growth &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/ethan-allen-provides-business-updates-and-announces-earnings-release-date-for-fiscal-2021-second-quarter-results\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Ethan Allen Provides Business Updates and Announces Earnings Release Date for Fiscal 2021 Second Quarter Results&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-414409","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Ethan Allen Provides Business Updates and Announces Earnings Release Date for Fiscal 2021 Second Quarter Results - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/ethan-allen-provides-business-updates-and-announces-earnings-release-date-for-fiscal-2021-second-quarter-results\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ethan Allen Provides Business Updates and Announces Earnings Release Date for Fiscal 2021 Second Quarter Results - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Danbury, CT, Jan. 13, 2021 (GLOBE NEWSWIRE) &#8212; Ethan Allen Interiors Inc. (\u201cEthan Allen\u201d or the \u201cCompany\u201d) (NYSE: ETH) today provided several updates on its business. Farooq Kathwari, Ethan Allen\u2019s Chairman, President and CEO commented, \u201cWe are very pleased that despite many challenges due to the ongoing COVID-19 pandemic, we had a strong performance.\u00a0The increased consumer focus on the home has continued a strong demand for our product offerings and design services. With our Retail segment written orders, including our e-commerce business, up 44.9%, it has led to a record high order backlog at quarter-end.\u201d Preliminary Financial Results The Company expects to report the following financial results for its second quarter ended December 31, 2020: Retail segment written orders growth &hellip; Continue reading &quot;Ethan Allen Provides Business Updates and Announces Earnings Release Date for Fiscal 2021 Second Quarter Results&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/ethan-allen-provides-business-updates-and-announces-earnings-release-date-for-fiscal-2021-second-quarter-results\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2021-01-13T21:08:12+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODEyNTQ2NCMzOTE3OTg3IzIwMDcwNjY=\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"7 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/ethan-allen-provides-business-updates-and-announces-earnings-release-date-for-fiscal-2021-second-quarter-results\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/ethan-allen-provides-business-updates-and-announces-earnings-release-date-for-fiscal-2021-second-quarter-results\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Ethan Allen Provides Business Updates and Announces Earnings Release Date for Fiscal 2021 Second Quarter Results\",\"datePublished\":\"2021-01-13T21:08:12+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/ethan-allen-provides-business-updates-and-announces-earnings-release-date-for-fiscal-2021-second-quarter-results\\\/\"},\"wordCount\":1438,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/ethan-allen-provides-business-updates-and-announces-earnings-release-date-for-fiscal-2021-second-quarter-results\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.globenewswire.com\\\/newsroom\\\/ti?nf=ODEyNTQ2NCMzOTE3OTg3IzIwMDcwNjY=\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/ethan-allen-provides-business-updates-and-announces-earnings-release-date-for-fiscal-2021-second-quarter-results\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/ethan-allen-provides-business-updates-and-announces-earnings-release-date-for-fiscal-2021-second-quarter-results\\\/\",\"name\":\"Ethan Allen Provides Business Updates and Announces Earnings Release Date for Fiscal 2021 Second Quarter Results - 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(\u201cEthan Allen\u201d or the \u201cCompany\u201d) (NYSE: ETH) today provided several updates on its business. Farooq Kathwari, Ethan Allen\u2019s Chairman, President and CEO commented, \u201cWe are very pleased that despite many challenges due to the ongoing COVID-19 pandemic, we had a strong performance.\u00a0The increased consumer focus on the home has continued a strong demand for our product offerings and design services. With our Retail segment written orders, including our e-commerce business, up 44.9%, it has led to a record high order backlog at quarter-end.\u201d Preliminary Financial Results The Company expects to report the following financial results for its second quarter ended December 31, 2020: Retail segment written orders growth &hellip; Continue reading \"Ethan Allen Provides Business Updates and Announces Earnings Release Date for Fiscal 2021 Second Quarter Results\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/ethan-allen-provides-business-updates-and-announces-earnings-release-date-for-fiscal-2021-second-quarter-results\/","og_site_name":"Market Newsdesk","article_published_time":"2021-01-13T21:08:12+00:00","og_image":[{"url":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODEyNTQ2NCMzOTE3OTg3IzIwMDcwNjY=","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"7 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/ethan-allen-provides-business-updates-and-announces-earnings-release-date-for-fiscal-2021-second-quarter-results\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/ethan-allen-provides-business-updates-and-announces-earnings-release-date-for-fiscal-2021-second-quarter-results\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Ethan Allen Provides Business Updates and Announces Earnings Release Date for Fiscal 2021 Second Quarter Results","datePublished":"2021-01-13T21:08:12+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/ethan-allen-provides-business-updates-and-announces-earnings-release-date-for-fiscal-2021-second-quarter-results\/"},"wordCount":1438,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/ethan-allen-provides-business-updates-and-announces-earnings-release-date-for-fiscal-2021-second-quarter-results\/#primaryimage"},"thumbnailUrl":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODEyNTQ2NCMzOTE3OTg3IzIwMDcwNjY=","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/ethan-allen-provides-business-updates-and-announces-earnings-release-date-for-fiscal-2021-second-quarter-results\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/ethan-allen-provides-business-updates-and-announces-earnings-release-date-for-fiscal-2021-second-quarter-results\/","name":"Ethan Allen Provides Business Updates and Announces Earnings Release Date for Fiscal 2021 Second Quarter Results - 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