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) announced a quarterly dividend of $0.15 per share, payable on July 12, 2021, to shareholders of record by June 30, 2021. This marks the 318th consecutive quarterly cash dividend since 1938, reflecting the company's commitment to returning value to shareholders. Flexsteel is one of the largest manufacturers and marketers of furniture in the U.S., offering a wide range of products through both eCommerce and direct sales channels.
Flexsteel Industries, Inc. (NASDAQ:FLXS) announced the appointment of Kathryn (Katy) P. Dickson as an independent director effective June 14, 2021. Dickson is recognized for her strategic leadership in digital transformation and brand innovation across notable companies including Tilray, Mattel, and General Mills. Chairman Thomas M. Levine and CEO Jerry Dittmer expressed their optimism, citing her experience in omni-channel strategies as a vital asset for enhancing Flexsteel's growth and customer experience. Dickson holds a B.S. from the U.S. Air Force Academy and an MBA from UCLA.
Flexsteel Industries, Inc. (NASDAQ:FLXS) has released a new investor presentation available on their website. This presentation details the company's business model, growth strategies, and financial goals. Flexsteel is recognized as one of the largest furniture manufacturers in the U.S., offering a diverse range of products including sofas, chairs, and bedroom furniture. Their unique steel drop-in seat spring design is a hallmark of their upholstered items, contributing to their brand identity.
Flexsteel Industries (NASDAQ:FLXS) announced that Jerry Dittmer, President and CEO, along with CFO Derek Schmidt, will present at the Sidoti & Company LLC Microcap Virtual Investor Conference on May 19, 2021, at 10:00 a.m. Eastern Time. The event will be webcast live and available for replay for 90 days post-conference. Flexsteel is a leading manufacturer and marketer of furniture in the U.S., offering products like sofas, chairs, and tables, known for its unique steel drop-in seat spring, which inspired the company’s name.
Flexsteel Industries (NASDAQ:FLXS) reported a strong third quarter for fiscal 2021, with net sales rising 19.8% to $118.4 million. Organic sales surged 32.9% as retail home furnishings backlog reached a record $140 million, up 314% year-over-year. Gross margin improved to 19.5% from 14.0%, showcasing enhanced operational efficiency. The company posted a GAAP net income of $4.9 million or $0.67 per diluted share, rebounding from a loss of ($5.3 million) in the same quarter last year.
Flexsteel Industries, Inc. (NASDAQ:FLXS) will release its third quarter 2021 financial results on April 26, 2021, after market close. The Company, a leading manufacturer and marketer of furniture in the U.S., will hold a conference call on April 27, 2021, at 8:00 a.m. Central Time to discuss the results. Investors can access the earnings release and join the call via provided phone numbers or an online registration link. Flexsteel offers a range of upholstered furniture products and markets them primarily through eCommerce and a direct sales force.
Flexsteel Industries, Inc. (NASDAQ:FLXS) declared a quarterly dividend of $0.15 per share, a 50% increase from the previous $0.10. This dividend is payable on March 29, 2021, to shareholders of record as of March 17, 2021. Flexsteel has maintained cash dividends annually since 1938, marking the 317th consecutive quarterly dividend. As one of the largest furniture manufacturers in the U.S., Flexsteel offers a broad range of products, including upholstered furniture and bedroom sets, distributed via eCommerce and direct sales.
Flexsteel Industries (NASDAQ:FLXS) reported a 15.7% increase in net sales to $119.1 million for Q2 FY2021, up from $102.9 million year-over-year. Organic sales grew 25.5%, with a backlog of $101 million, marking a 49% increase in orders. Gross margin improved to 20.5% from 15.6%. The company posted a net income of $8.5 million or $1.13 per diluted share, reversing last year's loss of ($0.68). Challenges include global supply chain constraints but plans for a new manufacturing facility in Mexico aim to enhance production capacity.
Flexsteel Industries, Inc. (NASDAQ:FLXS) will release its second quarter 2021 financial results after market close on January 25, 2021. An earnings call is scheduled for January 26, 2021, at 8:00 a.m. Central Time for analysts and investors to discuss the results. Investors can attend via conference call or audio webcast. The earnings release will be available on the company's investor relations website after market close on the 25th.
Flexsteel Industries, Inc. (NASDAQ:FLXS) has declared a quarterly dividend of $0.10 per share, payable on January 4, 2021, to shareholders on record as of December 23, 2020. This marks the 316th consecutive quarterly cash dividend, showcasing Flexsteel's commitment to returning value to shareholders since 1938. Leveraging a strong product portfolio, the company continues to be a significant player in the U.S. furniture market, offering a range of upholstered furniture products through ecommerce and direct sales.
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