Flexsteel Industries reports Q2 EPS 95c vs. 57c last year

Reports Q2 revenue $108.5M vs. $100.1M last year. “We are competing well and gaining share in a challenging business environment,” said Derek Schmidt, CEO. “We continued our strong momentum from the first quarter, delivering sales growth of 8.4 percent compared to the prior year quarter, which represents our fifth consecutive quarter of mid-single to low-double digit year-over-year growth. I’m especially encouraged because our growth was broad-based. We solidly grew in our core markets while simultaneously delivering growth in all our new and expanded market initiatives. Additionally, we continue to expand our operating margin and deliver strong positive free cash flow which has allowed us to pay off our remaining bank debt and begin accumulating cash.”