ETHAN ALLEN INTERIORS INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS UNAUDITED (In thousands, except per share amounts) - --------------------------------------------------------------------------------------------------------------------- Three Months Nine Months Ended March 31, Ended March 31, 2003 2002 2003 2002 - --------------------------------------------------------------------------------------------------------------------- Net sales $224,574 $227,917 $670,816 $657,499 Cost of sales 112,624 119,481 336,347 351,714 -------- -------- -------- -------- Gross profit 111,950 108,436 334,469 305,785 Operating expenses: Selling 45,257 41,461 132,022 120,185 General and administrative 34,632 30,973 101,348 89,857 Restructuring and impairment charge 13,223 - 13,223 - -------- -------- -------- -------- Total operating expenses 93,112 72,434 246,593 210,042 -------- -------- -------- ------- Operating income 18,838 36,002 87,876 95,743 Interest and other miscellaneous income 58 1,063 799 2,621 Interest and other related financing costs 130 137 507 462 -------- -------- -------- -------- Income before income tax expense 18,766 36,928 88,168 97,902 Income tax expense 7,094 13,959 33,328 37,007 -------- -------- -------- -------- Net income $ 11,672 $ 22,969 $ 54,840 $ 60,895 ======== ======== ======== ======== Net income per basic share $ 0.31 $ 0.59 $ 1.45 $ 1.57 ======== ======== ======== ======== Basic weighted average shares outstanding 37,560 38,734 37,771 38,879 Net income per diluted share $ 0.30 $ 0.58 $ 1.42 $ 1.52 ======== ======== ======== ======== Diluted weighted average shares outstanding 38,546 39,898 38,751 39,983 RECONCILIATION OF GAAP TO NON-GAAP INFORMATION: Net income $ 11,672 $ 22,969 $ 54,840 $ 60,895 Add: Restructuring and impairment charge, net of related tax effect 8,225 - 8,225 - -------- -------- -------- -------- Net income (excluding restructuring and impairment charge) $ 19,897 $ 22,969 $ 63,065 $ 60,895 ======== ======== ======== ======== Net income per basic share (excluding restructuring and impairment charge) $ 0.53 $ 0.59 $ 1.67 $ 1.57 ======== ======== ======== ======== Basic weighted average shares outstanding 37,560 38,734 37,771 38,879 Net income per diluted share (excluding restructuring and impairment charge) $ 0.52 $ 0.58 $ 1.63 $ 1.52 ======== ======== ======== ======== Diluted weighted average shares outstanding 38,546 39,898 38,751 39,983

ETHAN ALLEN INTERIORS INC. CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands) - -------------------------------------------------------------------------------------------------------------- March 31, June 30, 2003 2002 (UNAUDITED) - -------------------------------------------------------------------------------------------------------------- ASSETS Current Assets: Cash and cash equivalents $ 60,187 $ 75,688 Accounts receivable, net 29,430 32,845 Inventories, net 196,093 174,147 Prepaid expenses and other current assets 47,201 36,076 --------- --------- Total current assets 332,911 318,756 Property, plant, and equipment, net 294,483 293,626 Intangible assets, net 78,353 69,708 Other assets 5,238 6,665 --------- --------- Total Assets $ 710,985 $ 688,755 ========= ========= LIABILITIES AND SHAREHOLDERS' EQUITY Current Liabilities: Current maturities of long-term debt and capital lease obligations $ 187 $ 107 Customer deposits 55,094 42,966 Accounts payable 28,977 38,027 Accrued expenses and other current liabilities 54,922 48,028 --------- --------- Total current liabilities 139,180 129,128 Long-term debt 10,134 9,214 Other long-term liabilities 3,042 2,066 Deferred income taxes 40,578 37,158 Total shareholders' equity 518,051 511,189 --------- --------- Total Liabilities and Shareholders' Equity $ 710,985 $ 688,755 ========= =========

EXHIBIT 99.2 ETHAN ALLEN INTERIORS INC. GAAP RECONCILIATION THREE AND NINE MONTHS ENDED MARCH 31, 2003 (in thousands, except per share amounts) THREE MONTHS ENDED NINE MONTHS ENDED MARCH 31, MARCH 31, 2003 2002 2003 2002 ------------------ ----------------- NET INCOME/EARNINGS PER SHARE - ----------------------------- Net income $ 11,672 $ 22,969 $ 54,840 $ 60,895 Add: restructuring and impairment charge, net of related tax effect 8,225 -- 8,225 -- -------- -------- -------- -------- Net income (excluding restructuring and impairment charge) $ 19,897 $ 22,969 $ 63,065 $ 60,895 ======== ======== ======== ======== Net income per basic share $ 0.31 $ 0.59 $ 1.45 $ 1.57 ======== ======== ======== ======== Net income per basic share (excluding restructuring and impairment charge) $ 0.53 $ 0.59 $ 1.67 $ 1.57 ======== ======== ======== ======== Basic weighted average shares outstanding 37,560 38,734 37,771 38,879 Net income per diluted share $ 0.30 $ 0.58 $ 1.42 $ 1.52 ======== ======== ======== ======== Net income per diluted share (excluding restructuring and impairment charge) $ 0.52 $ 0.58 $ 1.63 $ 1.52 ======== ======== ======== ======== Diluted weighted average shares outstanding 38,546 39,898 38,751 39,983 CONSOLIDATED OPERATING INCOME/OPERATING MARGIN - ---------------------------------------------- Operating income $ 18,838 $ 36,002 $ 87,876 $ 95,743 Add: restructuring and impairment charge 13,223 -- 13,223 -- -------- -------- -------- -------- Operating income (excluding restructuring and impairment charge) $ 32,061 $ 36,002 $101,099 $ 95,743 ======== ======== ======== ======== Net sales $224,574 $227,917 $670,816 $657,499 ======== ======== ======== ======== Operating margin 8.4% 15.8% 13.1% 14.6% ======== ======== ======== ======== Operating margin (excluding restructuring and impairment charge) 14.3% 15.8% 15.1% 14.6% ======== ======== ======== ======== WHOLESALE OPERATING INCOME/OPERATING MARGIN - ------------------------------------------- Wholesale operating income $ 20,949 $ 32,295 $ 77,838 $ 80,032 Add: restructuring and impairment charge 13,223 -- 13,223 -- -------- -------- -------- -------- Wholesale operating income (excluding restructuring and impairment charge) $ 34,172 $ 32,295 $ 91,061 $ 80,032 ======== ======== ======== ======== Wholesale net sales $173,890 $172,389 $490,098 $485,479 ======== ======== ======== ======== Wholesale operating margin 12.0% 18.7% 15.9% 16.5% ======== ======== ======== ======== Wholesale operating margin (excluding restructuring and impairment charge) 19.7% 18.7% 18.6% 16.5% ======== ======== ======== ======== EBITDA - ------ Net income $ 11,672 $ 22,969 Add: interest expense 95 101 Add: income tax expense 7,094 13,959 Add: depreciation and amortization 5,494 4,816 -------- -------- EBITDA $ 24,355 $ 41,845 ======== ======== Net sales $224,574 $227,917 ======== ======== EBITDA as % of net sales 10.8% 18.4% ======== ======== EBITDA $ 24,355 $ 41,845 Add: restructuring and impairment charge 13,223 -- -------- --------- EBITDA (excluding restructuring and impairment charge) $ 37,578 $ 41,845 ======== ======== Net sales $224,574 $227,917 ======== ======== EBITDA as % of net sales 16.7% 18.4% ======== ========