Ethan Allen Interiors Reports Higher Sales, Cash Dividend

Ethan Allen Interiors Inc. reported that net sales for the second quarter ended December 31, 2011 increased by 5.7% to $183.3 million and excluding special items, diluted earnings per share increased to $0.30 compared to $0.19 in the previous year quarter. The Company also announced that its Board of Directors has declared a quarterly cash dividend of $0.07 per share, payable to shareholders of record as of April 10 to be paid on April 25.

Farooq Kathwari, Chairman and CEO commented, “We are pleased with the strong 5.7% growth in sales as it builds upon the 21% growth in the previous year quarter."

Mr. Kathwari continued, "Our cash and securities at December 31, 2011 amounted to $92.8 million, an increase of $7.2 million from December 31 of last year. During the current quarter, we continued to repurchase our bonds, further reducing our debt by $10 million. Over the last twelve months we have reduced our total debt by $43.6 million.”