v3.23.4
Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
$ in Thousands
Dec. 31, 2023
Jun. 30, 2023
Current assets:    
Cash and cash equivalents $ 55,051 $ 62,130
Investments 97,679 110,577
Accounts receivable, net 6,831 11,577
Inventories, net 140,939 149,195
Prepaid expenses and other current assets 25,459 25,974
Total current assets 325,959 359,453
Property, plant and equipment, net 219,492 222,167
Goodwill 25,388 25,388
Intangible assets 19,740 19,740
Operating lease right-of-use assets 113,699 115,861
Deferred income taxes 832 640
Other assets 17,065 2,204
TOTAL ASSETS 722,175 745,453
Current liabilities:    
Accounts payable and accrued expenses 24,069 28,565
Customer deposits 63,098 77,765
Accrued compensation and benefits 21,253 23,534
Current operating lease liabilities 26,649 26,045
Other current liabilities 5,861 7,188
Total current liabilities 140,930 163,097
Operating lease liabilities, long-term 101,314 104,301
Deferred income taxes 2,991 3,056
Other long-term liabilities 4,050 3,993
TOTAL LIABILITIES 249,285 274,447
Commitments and Contingencies  
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, 49,535 and 49,426 shares issued; 25,399 and 25,356 shares outstanding at September 30, 2023 and June 30, 2023, respectively 495 494
Additional paid-in capital 387,189 386,146
Treasury stock, at cost: 24,136 and 24,070 shares at September 30, 2023 and June 30, 2023, respectively (684,747) (682,646)
Retained earnings 771,052 769,819
Accumulated other comprehensive loss (1,063) (2,785)
Total Ethan Allen Interiors Inc. shareholders' equity 472,926 471,028
Noncontrolling interests (36) (22)
TOTAL SHAREHOLDERS' EQUITY 472,890 471,006
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 722,175 $ 745,453

Source

v3.23.4
Consolidated Statements of Comprehensive Income (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2023
Dec. 31, 2022
Net sales $ 167,276 $ 203,161 $ 331,168 $ 417,691
Cost of sales 66,640 79,141 130,391 164,055
Gross profit 100,636 124,020 200,777 253,636
Selling, general and administrative expenses 79,183 87,147 159,481 179,109
Restructuring and other charges, net of gains (235) (196) 1,257 (2,192)
Operating income 21,688 37,069 40,039 76,719
Interest and other income, net 1,719 901 3,504 1,297
Interest and other financing costs 52 50 113 105
Income before income taxes 23,355 37,920 43,430 77,911
Income tax expense 5,944 9,754 11,080 19,865
Net income $ 17,411 $ 28,166 $ 32,350 $ 58,046
Per share data        
Net income per basic share (in dollars per share) $ 0.68 $ 1.11 $ 1.27 $ 2.28
Basic weighted average common shares (in shares) 25,525 25,473 25,515 25,466
Diluted earnings per common share:        
Net income per diluted share (in dollars per share) $ 0.68 $ 1.1 $ 1.26 $ 2.27
Diluted weighted average common shares (in shares) 25,630 25,582 25,624 25,571
Comprehensive income        
Net income $ 17,411 $ 28,166 $ 32,350 $ 58,046
Other comprehensive income, net of tax        
Foreign currency translation adjustments 636 574 84 348
Other 1,103 233 1,624 370
Other comprehensive income (loss), net of tax 1,739 807 1,708 718
Comprehensive income $ 19,150 $ 28,973 $ 34,058 $ 58,764

Source

v3.23.4
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Cash Flows from Operating Activities    
Net income $ 32,350 $ 58,046
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 8,007 7,695
Share-based compensation expense 721 763
Non-cash operating lease cost 15,818 14,984
Deferred income taxes (257) (1,888)
Restructuring and other charges, net of gains 1,257 (2,192)
Payments on restructuring and other charges, net of proceeds (1,183) (801)
Loss on disposal of property, plant and equipment 14 42
Other (29) 290
Increase (Decrease) in Operating Capital [Abstract]    
Accounts receivable, net 4,746 6,323
Inventories, net 7,295 16,630
Prepaid expenses and other current assets (205) 5,419
Customer deposits (14,667) (37,429)
Accounts payable and accrued expenses (4,969) (6,927)
Accrued compensation and benefits (2,332) (1,455)
Operating lease liabilities (16,071) (15,710)
Other assets and liabilities (205) (2,851)
Net cash provided by operating activities 30,290 40,939
Cash Flows from Investing Activities    
Proceeds from sales of property, plant and equipment 22 8,105
Capital expenditures (5,241) (8,473)
Purchases of investments (39,970) (94,953)
Proceeds from sales of investments 40,818 51,504
Net cash provided by (used in) investing activities (4,371) (43,817)
Cash Flows from Financing Activities    
Payment of cash dividends (31,117) (20,879)
Proceeds from employee stock plans 322 9
Taxes paid related to net share settlement of equity awards (2,101) (765)
Payments on financing leases (263) (265)
Other financing costs 0 28
Net cash used in financing activities (33,159) (21,872)
Effect of exchange rate changes on cash and cash equivalents 56 (128)
Net decrease in cash, cash equivalents and restricted cash (7,184) (24,878)
Cash, cash equivalents and restricted cash at beginning of period 62,622 110,871
Cash, cash equivalents and restricted cash at end of period $ 55,438 $ 85,993

Source