Flexsteel Reports Record Increase In Income

Posted by MCC on August 22nd, 2010 at 07:00am

Furniture maker Flexsteel reported a record income increase for the fiscal year of 2010. From a loss of $1.5 million last year, Flexsteel’s net income rose to a staggering $10.8 million. The Dubuque based furniture manufacturer reports these earnings after several quarters of losses. The report, released this past week detailed the fourth quarter to the end of the fiscal year that ended on June 30.

Flexsteel also reports that their net sales increased for the quarter and the fiscal year, operating income increased and general and administrative expenses decreased. “Overall, we’re pleased with the progress we’ve made,” said Ron Klosterman, president and CEO of Flexsteel, in a conference call with investors Thursday.

Under Furniture News