v3.21.1
Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2021
Jun. 30, 2020
ASSETS    
Cash and cash equivalents $ 108,956 $ 72,276
Accounts receivable, net 11,573 8,092
Inventories, net 135,686 126,101
Prepaid expenses and other current assets 34,905 23,483
Total current assets 291,120 229,952
Property, plant and equipment, net 233,331 236,678
Goodwill 25,388 25,388
Intangible assets 19,740 19,740
Operating lease right-of-use assets 114,583 109,342
Deferred income taxes 1,745 137
Other assets 1,639 1,552
Total ASSETS 687,546 622,789
Current liabilities:    
Accounts payable and accrued expenses 38,716 25,595
Customer deposits and deferred revenue 115,250 64,031
Accrued compensation and benefits 25,821 18,278
Current operating lease liabilities 34,537 27,366
Other current liabilities 11,622 3,708
Total current liabilities 225,946 138,978
Long-term debt 0 50,000
Operating lease liabilities, long-term 97,467 102,111
Deferred income taxes 2,058 1,074
Other long-term liabilities 5,497 2,562
Total LIABILITIES 330,968 294,725
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, 49,190 and 49,053 shares issued; 25,187 and 25,053 shares outstanding at March 31, 2021 and June 30, 2020, respectively 492 491
Additional paid-in capital 381,038 378,300
Treasury stock, at cost: 24,003 and 24,000 shares at March 31, 2021 and June 30, 2020, respectively (680,992) (680,916)
Retained earnings 662,535 638,631
Accumulated other comprehensive loss (6,471) (8,441)
Total Ethan Allen Interiors Inc. shareholders' equity 356,602 328,065
Noncontrolling interests (24) (1)
Total shareholders' equity 356,578 328,064
Total LIABILITIES AND SHAREHOLDERS' EQUITY $ 687,546 $ 622,789

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v3.21.1
Consolidated Statements of Comprehensive Income (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Mar. 31, 2021
Mar. 31, 2020
Net sales $ 176,962 $ 149,774 $ 506,846 $ 498,269
Cost of sales 75,553 65,825 218,335 223,005
Gross profit 101,409 83,949 288,511 275,264
Selling, general and administrative expenses 81,829 83,841 233,649 258,346
Restructuring and other impairment charges, net of gains 593 862 1,639 (10,173)
Operating income 18,987 (754) 53,223 27,091
Other expenses        
Interest and other financing costs 51 85 433 184
Other income (expense), net 57 298 (378) 479
Income before income taxes 18,993 (541) 52,412 27,386
Income tax expense 3,385 (318) 10,568 6,417
Net income $ 15,608 $ (223) $ 41,844 $ 20,969
Basic earnings per common share:        
Net income per basic share (in dollars per share) $ 0.62 $ (0.01) $ 1.66 $ 0.80
Basic weighted average common shares (in shares) 25,303 25,703 25,240 26,332
Diluted earnings per common share:        
Net income per diluted share (in dollars per share) $ 0.61 $ (0.01) $ 1.65 $ 0.80
Diluted weighted average common shares (in shares) 25,400 25,703 25,305 26,362
Comprehensive income        
Net income $ 15,608 $ (223) $ 41,844 $ 20,969
Other comprehensive income (loss), net of tax        
Foreign currency translation adjustments (576) (3,841) 1,970 (3,567)
Other (9) (15) (23) (41)
Other comprehensive income, net of tax (585) (3,856) 1,947 (3,608)
Comprehensive income $ 15,023 $ (4,079) $ 43,791 $ 17,361

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v3.21.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Cash Flows from Operating Activities    
Net income $ 41,844 $ 20,969
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 12,359 12,845
Share-based compensation expense 999 200
Non-cash operating lease cost 22,571 24,369
Deferred income taxes (624) 1,077
Restructuring and other impairment charges, net of gains 2,028 (5,647)
Restructuring payments (1,180) (5,574)
Loss on disposal of property, plant and equipment 15 191
Other (88) (13)
Change in operating assets and liabilities, net of effects of acquisitions:    
Accounts receivable, net (3,481) 3,630
Inventories, net (9,974) 21,567
Prepaid expenses and other current assets (10,872) (1,980)
Customer deposits and deferred revenue 51,219 (4,914)
Accounts payable and accrued expenses 12,387 (3,428)
Accrued compensation and benefits 7,535 429
Operating lease liabilities (25,923) (24,411)
Other assets and liabilities 3,305 (626)
Net cash provided by operating activities 102,120 38,684
Cash Flows from Investing Activities    
Proceeds from disposal of property, plant and equipment 4,913 12,423
Capital expenditures (10,342) (12,457)
Acquisitions, net of cash acquired 0 (1,350)
Other investing activities 0 20
Net cash (used in) provided by investing activities (5,429) (1,364)
Cash Flows from Financing Activities    
Borrowings on revolving credit facility 0 100,000
Payments on borrowings (50,000) 0
Payment of cash dividends (11,612) (16,181)
Proceeds from employee stock plans 1,740 53
Repurchases of common stock (76) (24,319)
Other financing activities (455) (422)
Net cash used in financing activities (60,403) 59,131
Effect of exchange rate changes on cash and cash equivalents 392 (407)
Net increase in cash and cash equivalents 36,680 96,044
Cash and cash equivalents at beginning of period 72,276 20,824
Cash and cash equivalents at end of period $ 108,956 $ 116,868

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