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Jun 30, 2020
Ethan Allen Q4 2020 Earnings Report
Ethan Allen experienced a significant decrease in net sales and earnings per share due to COVID-19 disruptions, but took actions to maintain a strong cash position and reinstated the quarterly dividend.
Key Takeaways
Ethan Allen's Q4 2020 results were significantly impacted by COVID-19, with a 50.2% decrease in consolidated net sales to $91.6 million. The company reported a diluted loss per share of ($0.48) and an adjusted loss per share of ($0.15). Despite these challenges, Ethan Allen maintained a strong cash position, generated $14 million in cash from operating activities, and reinstated its regular quarterly cash dividend.
Consolidated net sales decreased by 50.2% to $91.6 million due to COVID-19 related disruptions.
The company had a diluted loss per share of ($0.48) and an adjusted loss per share of ($0.15).
Cash from operating activities increased by 28.1% to $14.0 million.
The Board of Directors reinstated the regular quarterly cash dividend of $0.21 per share.
Revenue by Segment
Forward Guidance
Ethan Allen is cautiously optimistic about growing sales and profits, focusing on its retail network, North American manufacturing, and technology.
Positive Outlook
- Focus on retail network.
- Vertical structure with 75% of products made in North American workshops.
- Increasing use of technology in all aspects of the enterprise.
- Maintaining focus on strong governance and social responsibility.
- Reinstated regular quarterly cash dividend.
Challenges Ahead
- Unprecedented disruption due to COVID-19.
- Temporary closure of design centers and manufacturing facilities.
- Furlough of approximately 70% of global workforce.
- Net sales negatively impacted by COVID-19.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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