v3.23.1
Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2023
Jun. 30, 2022
Current assets:    
Cash and cash equivalents $ 61,031 $ 109,919
Investments 95,171 11,199
Accounts receivable, net 15,817 17,019
Inventories, net 151,655 176,504
Prepaid expenses and other current assets 28,275 32,108
Total current assets 351,949 346,749
Property, plant and equipment, net 223,284 223,530
Goodwill 25,388 25,388
Intangible assets 19,740 19,740
Operating lease right-of-use assets 117,871 100,782
Deferred income taxes 977 820
Other assets 2,114 2,886
Total ASSETS 741,323 719,895
Current liabilities:    
Accounts payable and accrued expenses 28,043 37,370
Customer deposits 92,772 121,080
Accrued compensation and benefits 20,952 22,700
Current operating lease liabilities 25,275 25,705
Other current liabilities 7,314 8,788
Total current liabilities 174,356 215,643
Operating lease liabilities, long-term 107,119 89,506
Deferred income taxes 2,465 4,418
Other long-term liabilities 4,190 3,005
Total LIABILITIES 288,130 312,572
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, 49,426 and 49,360 shares issued; 25,356 and 25,323 shares outstanding at March 31, 2023 and June 30, 2022, respectively 494 494
Additional paid-in capital 386,003 384,782
Treasury stock, at cost: 24,070 and 24,037 shares at March 31, 2023 and June 30, 2022, respectively (682,646) (681,834)
Retained earnings 753,588 710,369
Accumulated other comprehensive loss (4,236) (6,462)
Total Ethan Allen Interiors Inc. shareholders' equity 453,203 407,349
Noncontrolling interests (10) (26)
Total SHAREHOLDERS' EQUITY 453,193 407,323
Total LIABILITIES AND SHAREHOLDERS' EQUITY $ 741,323 $ 719,895

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v3.23.1
Consolidated Statements of Comprehensive Income (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 9 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Mar. 31, 2023
Mar. 31, 2022
Net sales $ 186,316 $ 197,659 $ 604,007 $ 588,079
Cost of sales 74,765 78,199 238,820 237,158
Gross profit 111,551 119,460 365,187 350,921
Selling, general and administrative expenses 83,233 88,270 262,342 259,457
Restructuring and other impairment charges, net of gains (470) (1,463) (2,662) (4,841)
Operating income 28,788 32,653 105,507 96,305
Interest and other income (expense), net 1,123 (10) 2,420 (8)
Interest expense and other financing costs 52 51 157 147
Income before income taxes 29,859 32,592 107,770 96,150
Income tax expense 7,503 7,878 27,368 24,389
Net income $ 22,356 $ 24,714 $ 80,402 $ 71,761
Basic earnings per common share:        
Net income per basic share (in dollars per share) $ 0.88 $ 0.97 $ 3.16 $ 2.83
Basic weighted average common shares (in shares) 25,477 25,434 25,470 25,402
Diluted earnings per common share:        
Net income per diluted share (in dollars per share) $ 0.87 $ 0.97 $ 3.14 $ 2.81
Diluted weighted average common shares (in shares) 25,599 25,549 25,580 25,504
Comprehensive income        
Net income $ 22,356 $ 24,714 $ 80,402 $ 71,761
Other comprehensive income (loss), net of tax        
Foreign currency translation adjustments 1,683 496 2,031 (146)
Other income (loss) (159) (11) 211 (18)
Other comprehensive income (loss), net of tax 1,524 485 2,242 (164)
Comprehensive income $ 23,880 $ 25,199 $ 82,644 $ 71,597

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v3.23.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 9 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash Flows from Operating Activities    
Net income $ 80,402 $ 71,761
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 11,673 12,040
Share-based compensation expense 1,145 783
Non-cash operating lease cost 22,557 22,505
Deferred income taxes (2,110) 1,709
Restructuring and other impairment charges, net of gains (2,662) (4,841)
Restructuring payments (1,020) (1,144)
Loss on disposal of property, plant and equipment 43 25
Other 513 23
Change in operating assets and liabilities    
Accounts receivable, net 1,202 (2,523)
Inventories, net 24,849 (38,711)
Prepaid expenses and other current assets 3,757 (3,551)
Customer deposits (28,308) 5,790
Accounts payable and accrued expenses (9,319) 5,330
Accrued compensation and benefits (1,634) (3,690)
Operating lease liabilities (23,355) (25,027)
Other assets and liabilities (3,375) (478)
Net cash provided by operating activities 74,358 40,001
Cash Flows from Investing Activities    
Proceeds from sales of property, plant and equipment 8,105 10,613
Capital expenditures (10,679) (9,031)
Purchases of investments (189,951) (18,521)
Proceeds from sales of investments 106,933 9,000
Net cash used in investing activities (85,592) (7,939)
Cash Flows from Financing Activities    
Payment of cash dividends (37,183) (40,114)
Proceeds from employee stock plans 75 1,096
Taxes paid related to net share settlement of equity awards (812) (843)
Payments on financing leases (395) (389)
Other financing costs 28 (505)
Net cash used in financing activities (38,287) (40,755)
Effect of exchange rate changes on cash and cash equivalents 27 43
Net decrease in cash, cash equivalents and restricted cash (49,494) (8,650)
Cash, cash equivalents and restricted cash at beginning of period 110,871 104,596
Cash, cash equivalents and restricted cash at end of period $ 61,377 $ 95,946

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