Welcome to our dedicated page for Flexsteel Industries news (Ticker: FLXS), a resource for investors and traders seeking the latest updates and insights on Flexsteel Industries stock.
Flexsteel Industries, Inc., incorporated in 1929, stands as one of the oldest and largest manufacturers, importers, and marketers of residential and commercial upholstered and wooden furniture products in the United States. The company's comprehensive product offerings include sofas, loveseats, chairs, reclining and rocker reclining chairs, swivel rockers, sofa beds, convertible bedding units, occasional tables, desks, dining tables and chairs, and bedroom furniture.
Flexsteel products are designed for use in various settings, including homes, offices, hotels, and other commercial environments. A notable feature of most of their upholstered furniture is a unique steel drop-in seat spring, which has become a hallmark of durability and quality, and is the inspiration for the company’s name “Flexsteel.”
The company distributes its products across the United States through its sales force and independent representatives. Their extensive distribution network ensures that Flexsteel's high-quality furniture is available nationwide.
In addition to its main operations, Flexsteel has a wholly-owned subsidiary, DMI Furniture, Inc. (“DMI”), which extends the company's market reach and product diversity. Flexsteel’s furniture portfolio not only serves residential needs but also caters to office, healthcare, and other contract applications, demonstrating the company’s versatility and commitment to meeting a wide range of consumer demands.
Flexsteel Industries is recognized for its Blue Steel Spring technology, which ensures the longevity and comfort of their upholstered furniture. This innovation has solidified the company's reputation for producing high-quality, durable furniture that stands the test of time.
Financially, Flexsteel has maintained a stable position within the market, continually adapting to industry trends and consumer preferences. The company constantly explores new projects and partnerships to enhance its product offerings and expand its market presence.
Flexsteel Industries, Inc. (NASDAQ:FLXS) will have its President and CFO presenting at the Sidoti Virtual Investor Conference on May 8-9, 2024. The Company will also host one-on-one meetings with investors. Registration is open to all.
Flexsteel Industries, Inc. (NASDAQ:FLXS) appoints Derek P. Schmidt as President and CEO effective July 1, 2024, succeeding Jerald K. Dittmer. Schmidt, with almost 30 years of experience in financial and management roles, has been instrumental in driving the Company's transformation and growth strategy over the past four years. Dittmer, who has led significant business transformation, will stay on as a Strategic Advisor until December 31, 2024, aiding in a smooth transition to Schmidt.
Flexsteel Industries, Inc. reported strong fiscal third quarter 2024 results with 8% sales growth, improved operating margin, and continued debt reduction. The company achieved net sales of $107.2 million, representing an 8.2% increase from the prior year quarter. Gross margin expanded to 21.7%, operating income improved to $3.0 million, and adjusted net income per diluted share rose to $0.67.
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