| Ethan Allen Interiors Inc. | EXHIBIT 99.2 | ||
| GAAP Reconciliation | |||
| Three Months Ended September 30, 2008 and 2007 | |||
| (in thousands, except per share amounts) | |||
| Three Months Ended | |||
| September 30, | |||
| 2008 | 2007 | ||
|
Net Income / Earnings Per Share |
|||
| Net income | $ 7,422 | $ 17,504 | |
| Add: restructuring and impairment charge (credit), net of | |||
| related tax effect | (1,037) | - | |
| Net income (excluding restructuring and impairment | |||
| charge (credit)) | $ 6,385 | $ 17,504 | |
| Earnings per basic share | $ 0.26 | $ 0.58 | |
| Earnings per basic share (excluding restructuring and | |||
| impairment charge (credit)) | $ 0.22 | $ 0.58 | |
| Basic weighted average shares outstanding | 28,703 | 30,084 | |
| Earnings per diluted share | $ 0.26 | $ 0.57 | |
| Earnings per diluted share (excluding restructuring and | |||
| impairment charge (credit)) | $ 0.22 | $ 0.57 | |
| Diluted weighted average shares outstanding | 28,847 | 30,464 | |
|
Consolidated Operating Income / Operating Margin |
|||
| Operating income | $ 12,211 | $ 27,797 | |
| Add: restructuring and impairment charge (credit) | (1,630) | - | |
| Operating income (excluding restructuring and impairment | |||
| charge (credit)) | $ 10,581 | $ 27,797 | |
| Net sales | $ 205,841 | $ 248,727 | |
| Operating margin | 5.9% | 11.2% | |
| Operating margin (excluding restructuring and impairment | |||
| charge (credit)) | 5.1% | 11.2% | |
|
Wholesale Operating Income / Operating Margin |
|||
| Wholesale operating income | $ 11,885 | $ 26,780 | |
| Add: restructuring and impairment charge | 408 | - | |
| Wholesale operating income (excluding restructuring and | |||
| impairment charge) | $ 12,293 | $ 26,780 | |
| Wholesale net sales | $ 121,295 | $ 156,323 | |
| Wholesale operating margin | 9.8% | 17.1% | |
| Wholesale operating margin (excluding restructuring and | |||
| impairment charge) | 10.1% | 17.1% | |
|
Retail Operating Income / Operating Margin |
|||
| Retail operating income (loss) | $ (3,052) | $ 899 | |
| Add: restructuring and impairment charge (credit) | (2,038) | - | |
| Retail operating income (excluding restructuring and | |||
| impairment charge (credit)) | $ (5,090) | $ 899 | |
| Retail net sales | $ 155,870 | $ 182,754 | |
| Retail operating margin | -2.0% | 0.5% | |
| Retail operating margin (excluding restructuring and | |||
| impairment charge (credit)) | -3.3% | 0.5% | |
|
EBITDA |
|||
| Net income | $ 7,422 | $ 17,504 | |
| Add: interest expense (income), net | 2,508 | 1,397 | |
| Add: income tax expense | 2,988 | 10,280 | |
| Add: depreciation and amortization | 6,318 | 5,937 | |
| EBITDA | $ 19,236 | $ 35,118 | |
| Net sales | $ 205,841 | $ 248,727 | |
| EBITDA as % of net sales | 9.3% | 14.1% | |
| EBITDA | $ 19,236 | $ 35,118 | |
| Add: restructuring and impairment charge (credit) | (1,630) | - | |
| EBITDA (excluding restructuring and impairment charge (credit)) | $ 17,606 | $ 35,118 | |
| Net sales | $ 205,841 | $ 248,727 | |
| EBITDA as % of net sales excluding restructuring and | |||
| impairment charge (credit)) | 8.6% | 14.1% | |