v3.20.4
Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Dec. 31, 2020
Jun. 30, 2020
ASSETS    
Cash and cash equivalents $ 80,035 $ 72,276
Accounts receivable, net 8,985 8,092
Inventories, net 126,748 126,101
Prepaid expenses and other current assets 30,160 23,483
Total current assets 245,928 229,952
Property, plant and equipment, net 234,425 236,678
Goodwill 25,388 25,388
Intangible assets 19,740 19,740
Operating lease right-of-use assets 108,470 109,342
Deferred income taxes 641 137
Other assets 1,627 1,552
Total ASSETS 636,219 622,789
Current liabilities:    
Accounts payable and accrued expenses 33,989 25,595
Customer deposits and deferred revenue 90,063 64,031
Accrued compensation and benefits 21,149 18,278
Current operating lease liabilities 31,838 27,366
Other current liabilities 10,439 3,708
Total current liabilities 187,478 138,978
Long-term debt 0 50,000
Operating lease liabilities, long-term 95,703 102,111
Deferred income taxes 872 1,074
Other long-term liabilities 4,602 2,562
Total LIABILITIES 288,655 294,725
Commitments and contingencies (see Note 16)
Shareholders' equity:    
Preferred stock, $0.01 par value; 1,055 shares authorized; none issued 0 0
Common stock, $0.01 par value, 150,000 shares authorized, 49,173 and 49,053 shares issued; 25,173 and 25,053 shares outstanding at December 31, 2020 and June 30, 2020, respectively 492 491
Additional paid-in capital 380,643 378,300
Treasury stock, at cost: 24,000 shares at December 31, 2020 and June 30, 2020 (680,916) (680,916)
Retained earnings 653,255 638,631
Accumulated other comprehensive loss (5,895) (8,441)
Total Ethan Allen Interiors Inc. shareholders' equity 347,579 328,065
Noncontrolling interests (15) (1)
Total shareholders' equity 347,564 328,064
Total LIABILITIES AND SHAREHOLDERS' EQUITY $ 636,219 $ 622,789

Source

v3.20.4
Consolidated Statements of Comprehensive Income (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2020
Dec. 31, 2019
Net sales $ 178,826 $ 174,574 $ 329,884 $ 348,495
Cost of sales 77,494 77,053 142,782 157,180
Gross profit 101,332 97,521 187,102 191,315
Selling, general and administrative expenses 78,354 88,495 151,820 174,505
Restructuring and other impairment charges, net of gains 423 (178) 1,046 (11,035)
Operating income 22,555 9,204 34,236 27,845
Other expenses        
Interest and other financing costs 47 51 382 99
Other income (expense), net (330) 114 (435) 181
Income before income taxes 22,178 9,267 33,419 27,927
Income tax expense 5,295 2,181 7,183 6,735
Net income $ 16,883 $ 7,086 $ 26,236 $ 21,192
Basic earnings per common share:        
Net income per basic share (in dollars per share) $ 0.67 $ 0.27 $ 1.04 $ 0.80
Basic weighted average common shares (in shares) 25,239 26,580 25,209 26,646
Diluted earnings per common share:        
Net income per diluted share (in dollars per share) $ 0.67 $ 0.27 $ 1.04 $ 0.79
Diluted weighted average common shares (in shares) 25,309 26,612 25,257 26,681
Comprehensive income        
Net income $ 16,883 $ 7,086 $ 26,236 $ 21,192
Other comprehensive income (loss), net of tax        
Foreign currency translation adjustments 1,990 773 2,546 274
Other (5) (19) (14) (26)
Other comprehensive income, net of tax 1,985 754 2,532 248
Comprehensive income $ 18,868 $ 7,840 $ 28,768 $ 21,440

Source

v3.20.4
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Cash Flows from Operating Activities    
Net income $ 26,236 $ 21,192
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 8,145 8,430
Share-based compensation expense 711 123
Non-cash operating lease cost 14,953 16,191
Deferred income taxes (706) 153
Restructuring and other impairment charges, net of gains 1,435 (6,503)
Restructuring payments 31 (5,021)
Loss on disposal of property, plant and equipment 13 163
Other 12 136
Change in operating assets and liabilities, net of effects of acquisitions:    
Accounts receivable, net (893) 973
Inventories, net (1,036) 21,303
Prepaid expenses and other current assets (5,952) 226
Customer deposits and deferred revenue 26,032 (9,746)
Accounts payable and accrued expenses 8,394 (8,342)
Accrued compensation and benefits 2,780 (475)
Operating lease liabilities (16,706) (16,037)
Other assets and liabilities 2,469 622
Net cash provided by operating activities 65,918 23,388
Cash Flows from Investing Activities    
Proceeds from disposal of property, plant and equipment 1,225 12,423
Capital expenditures (5,878) (7,987)
Acquisitions, net of cash acquired 0 (1,281)
Other investing activities 0 20
Net cash (used in) provided by investing activities (4,653) 3,175
Cash Flows from Financing Activities    
Payments on borrowings (50,000) 0
Payment of cash dividends (5,288) (10,685)
Proceeds from employee stock plans 1,633 53
Repurchases of common stock 0 (8,163)
Other financing activities (290) (278)
Net cash used in financing activities (53,945) (19,073)
Effect of exchange rate changes on cash and cash equivalents 439 (8)
Net increase in cash and cash equivalents 7,759 7,482
Cash and cash equivalents at beginning of period 72,276 20,824
Cash and cash equivalents at end of period $ 80,035 $ 28,306

Source