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ETHAN ALLEN INTERIORS INC

For the period ended May 5, 2025. Filed May 5, 2025.

View on SEC.gov

About this filing

A notice of a major event between regular reports, such as results, a deal or a change of executives. It is often the first formal record of the news.

May 5, 2025 · Filed May 5, 2025

ETD$20.07-3.0%Stored close · as of Nov 6, 2026
See the whole filing, with its images and exhibits

EX-99.1 · FORWARD-LOOKING STATEMENTS

FORWARD-LOOKING STATEMENTS

This 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 and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). Generally, forward-looking statements represent management’s beliefs and assumptions concerning current expectations, projections or trends relating to results of operations, financial results, financial condition, strategic initiatives, expenses, dividends, share repurchases, liquidity, use of cash and cash requirements, investments, future economic indicators, business conditions and industry performance. Such forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts. These forward-looking statements may include words such as “anticipate,” “estimate,” “expect,” “project,” “plan,” “intend,” “believe,” “continue,” “may,” “will,” “short-term,” “target,” “outlook,” “forecast,” “future,” “strategy,” “opportunity,” “would,” “guidance,” “non-recurring,” “one-time,” “unusual,” “should,” “likely,” “pandemic,” and other words and terms of similar meaning in connection with any discussion of the timing or nature of future operating or financial performance or other events. The Company derives many of its forward-looking statements from operating budgets and forecasts, which are based upon detailed assumptions. While the Company believes that its assumptions are reasonable, it cautions that it is difficult to predict the impact of known factors and it is impossible for the Company to anticipate all factors that could affect actual results and matters that are identified as “short-term,” “non-recurring,” “unusual,” “one-time,” or other words and terms of similar meaning may in fact recur in one or more future financial reporting periods.

Forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those that are expected. 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 risks and uncertainties disclosed in Part I, Item 1A.Risk Factors, in the Company’s 2024 Annual Report on Form 10-K and other factors identified in its reports filed with the Securities and Exchange Commission (the “SEC”), available on the SEC's website atwww.sec.gov.

All forward-looking statements attributable to the Company, or persons acting on its behalf, are expressly qualified in their entirety by these cautionary statements, as well as other cautionary statements. A reader should evaluate all forward-looking statements made in this release in the context of these risks and uncertainties. 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’s ability to control or predict. The Company is including this cautionary note to make applicable and take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 for forward-looking statements. The forward-looking statements included in this release are made only as of the date hereof. The Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as otherwise required by law.

Ethan Allen Interiors Inc.

Condensed Consolidated Statements of Comprehensive Income

(Unaudited)

(In thousands, except per share data)

Three months ended March 31,Nine months ended March 31,
2025202420252024
Net sales$142,695$146,421$454,292$477,589
Cost of sales55,33956,597178,230186,988
Gross profit87,35689,824276,062290,601
Selling, general and administrative expenses76,25375,253228,999234,734
Restructuring and other charges, net of gains106(754)344503
Operating income10,99715,32546,71955,364
Interest and other income, net1,5992,0375,8265,541
Interest and other financing costs6064183177
Income before income taxes12,53617,29852,36260,728
Income tax expense2,9314,34513,03415,425
Net income$9,605$12,953$39,328$45,303
Net income per diluted share$0.37$0.50$1.53$1.77
Diluted weighted average common shares25,62925,65025,62425,632

Ethan Allen Interiors Inc.

Condensed Consolidated Balance Sheets

(Unaudited)

(In thousands)

March 31,June 30,
20252024
ASSETS
Current assets
Cash and cash equivalents$65,731$69,710
Investments, short-term107,20291,319
Accounts receivable, net7,3126,766
Inventories, net150,384142,040
Prepaid expenses and other current assets30,76322,848
Total current assets361,392332,683
Property, plant and equipment, net211,008215,258
Goodwill25,38825,388
Intangible assets19,74019,740
Operating lease right-of-use assets108,383114,242
Deferred income taxes732824
Investments, long-term10,04134,772
Other assets2,0562,010
Total ASSETS$738,740$744,917
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities
Accounts payable and accrued expenses$26,973$27,400
Customer deposits79,29973,471
Accrued compensation and benefits19,25120,702
Current operating lease liabilities27,79427,387
Other current liabilities4,4694,736
Total current liabilities157,786153,696
Operating lease liabilities, long-term95,064100,897
Deferred income taxes2,2373,035
Other long-term liabilities4,5014,373
Total LIABILITIES259,588262,001
Shareholders’ equity
Ethan Allen Interiors Inc. shareholders’ equity479,242482,980
Noncontrolling interests(90)(64)
Total SHAREHOLDERS’ EQUITY479,152482,916
Total LIABILITIES AND SHAREHOLDERS’ EQUITY$738,740$744,917
ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.