v3.22.1
Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2022
Jun. 30, 2021
ASSETS    
Cash and cash equivalents $ 95,045 $ 104,596
Investments 9,525 0
Accounts receivable, net 11,549 9,026
Inventories, net 182,689 143,978
Prepaid expenses and other current assets 42,041 37,679
Total current assets 340,849 295,279
Property, plant and equipment, net 223,067 231,446
Goodwill 25,388 25,388
Intangible assets 19,740 19,740
Operating lease right-of-use assets 102,477 108,730
Deferred income taxes 566 1,078
Other assets 2,816 1,584
Total ASSETS 714,903 683,245
Current liabilities:    
Accounts payable and accrued expenses 42,696 37,786
Customer deposits and deferred revenue 136,425 130,635
Accrued compensation and benefits 19,974 23,866
Current operating lease liabilities 26,269 27,395
Other current liabilities 5,073 4,220
Total current liabilities 230,437 223,902
Operating lease liabilities, long-term 91,157 97,911
Deferred income taxes 6,223 5,028
Other long-term liabilities 3,147 4,986
Total LIABILITIES 330,964 331,827
Commitments and contingencies (see Note 17)
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, 49,359 and 49,240 shares issued; 25,322 and 25,237 shares outstanding at March 31, 2022 and June 30, 2021, respectively 494 492
Additional paid-in capital 384,406 382,527
Treasury stock, at cost: 24,037 and 24,003 shares at March 31, 2022 and June 30, 2021, respectively (681,834) (680,991)
Retained earnings 686,993 655,346
Accumulated other comprehensive loss (6,083) (5,931)
Total Ethan Allen Interiors Inc. shareholders' equity 383,976 351,443
Noncontrolling interests (37) (25)
Total shareholders' equity 383,939 351,418
Total LIABILITIES AND SHAREHOLDERS' EQUITY $ 714,903 $ 683,245

Source

v3.22.1
Consolidated Statements of Comprehensive Income (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Mar. 31, 2022
Mar. 31, 2021
Net sales $ 197,659 $ 176,962 $ 588,079 $ 506,846
Cost of sales 78,199 75,553 237,158 218,335
Gross profit 119,460 101,409 350,921 288,511
Selling, general and administrative expenses 88,270 81,829 259,457 233,649
Restructuring and other impairment charges, net of gains (1,463) 593 (4,841) 1,639
Operating income 32,653 18,987 96,305 53,223
Other expenses        
Interest and other financing costs 51 51 147 433
Other income (expense), net (10) 57 (8) (378)
Income before income taxes 32,592 18,993 96,150 52,412
Income tax expense 7,878 3,385 24,389 10,568
Net income $ 24,714 $ 15,608 $ 71,761 $ 41,844
Basic earnings per common share:        
Net income per basic share (in dollars per share) $ 0.97 $ 0.62 $ 2.83 $ 1.66
Basic weighted average common shares (in shares) 25,434 25,303 25,402 25,240
Diluted earnings per common share:        
Net income per diluted share (in dollars per share) $ 0.97 $ 0.61 $ 2.81 $ 1.65
Diluted weighted average common shares (in shares) 25,549 25,400 25,504 25,305
Comprehensive income        
Net income $ 24,714 $ 15,608 $ 71,761 $ 41,844
Other comprehensive income (loss), net of tax        
Foreign currency translation adjustments 496 (576) (146) 1,970
Other (11) (9) (18) (23)
Other comprehensive income (loss), net of tax 485 (585) (164) 1,947
Comprehensive income $ 25,199 $ 15,023 $ 71,597 $ 43,791

Source

v3.22.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash Flows from Operating Activities    
Net income $ 71,761 $ 41,844
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 12,040 12,359
Share-based compensation expense 783 999
Non-cash operating lease cost 22,505 22,571
Deferred income taxes 1,709 (624)
Restructuring and other impairment charges, net of gains (4,841) 2,028
Restructuring payments (1,144) (1,180)
Loss on disposal of property, plant and equipment 25 15
Other 23 (88)
Change in operating assets and liabilities    
Accounts receivable, net (2,523) (3,481)
Inventories, net (38,711) (9,974)
Prepaid expenses and other current assets (3,551) (10,872)
Customer deposits and deferred revenue 5,790 51,219
Accounts payable and accrued expenses 5,330 12,387
Accrued compensation and benefits (3,690) 7,535
Operating lease liabilities (25,027) (25,923)
Other assets and liabilities (478) 3,305
Net cash provided by operating activities 40,001 102,120
Cash Flows from Investing Activities    
Proceeds from sales of property, plant and equipment 10,613 4,913
Capital expenditures (9,031) (10,342)
Purchases of investments (18,521) 0
Proceeds from sales of investments 9,000 0
Net cash used in investing activities (7,939) (5,429)
Cash Flows from Financing Activities    
Payments on borrowings 0 (50,000)
Dividend payments (40,114) (11,612)
Proceeds from employee stock plans 1,096 1,740
Taxes paid related to net share settlement of equity awards (843) (76)
Payments for debt issuance costs (505) 0
Payments on financing leases (389) (455)
Net cash used in financing activities (40,755) (60,403)
Effect of exchange rate changes on cash and cash equivalents 43 392
Net (decrease) increase in cash, cash equivalents and restricted cash (8,650) 36,680
Cash, cash equivalents and restricted cash at beginning of period 104,596 72,276
Cash, cash equivalents and restricted cash at end of period $ 95,946 $ 108,956

Source