flexsteel inds (FLXS) Snapshot

The Board of Directors of Flexsteel Industries Inc. declared a quarterly dividend of $0.15 per share, payable July 5, 2013 to shareholders of record as of June 21, 2013.

Flexsteel Industries Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended March 31, 2013. For the quarter, the company reported net sales of $98,351,000 compared to $91,631,000 a year ago. Operating income was $4,868,000 compared to $5,123,000 a year ago. Income before income taxes was $5,008,000 compared to $5,263,000 a year ago. Net income was $3,118,000 or $0.42 diluted per share compared to $3,343,000 or $0.48 diluted per share a year ago. For the nine months, the company reported net sales of $284,178,000 compared to $258,153,000 a year ago. Operating income was $13,856,000 compared to $13,449,000 a year ago. Income before income taxes was $14,221,000 compared to $13,759,000 a year ago. Net income was $8,911,000 or $1.22 diluted per share compared to $8,669,000 or $1.24 diluted per share a year ago. Net cash provided by operating activities was $6,178,000 compared to $8,620,000 a year ago. Capital expenditures were $5,652,000 compared to $5,256,000 a year ago. The company expects that capital expenditures will be approximately $0.5 million for the remainder of fiscal year 2013.

Flexsteel Industries Inc. announced that Jordan Altfillisch joined the company as a supply chain logistics specialist. He will be responsible for creating and monitoring special orders and dealer direct containers for the corporation. Julie Bizzis joined the company as a senior vice president of strategic growth. Her areas of expertise include innovation and new product launches, brand experience, product development, advertising and public relations and corporate responsibility. She came from Owens Corning, where she was responsible for Business Insights and Innovation. George Santiago joined the company as general manager of Dubuque operations. He is responsible for the safety, quality and productivity of the Dubuque plant. He has more than 20 years experience, most recently with Hon, and is highly skilled in the areas of manufacturing leadership, team building and lean manufacturing. Rachel Lien joined the company as a corporate sourcing assistant manager/compliance supervisor. She is responsible for creating and analyzing high-level inventory and supplier management reports and conducting compliance analyses. Dustin Moor has been promoted to assistant fabric purchasing manager at the global headquarters. He will be responsible for purchasing all fabric and leather for home furnishings and contract divisions.