Last $32.51 USD
Change Today +0.51 / 1.59%
Volume 28.7K
FLXS On Other Exchanges
Symbol
Exchange
NASDAQ GS
As of 8:10 PM 07/22/14 All times are local (Market data is delayed by at least 15 minutes).

flexsteel inds (FLXS) Snapshot

Open
$32.09
Previous Close
$32.00
Day High
$32.78
Day Low
$32.09
52 Week High
04/2/14 - $40.44
52 Week Low
08/19/13 - $22.27
Market Cap
237.7M
Average Volume 10 Days
21.1K
EPS TTM
$2.37
Shares Outstanding
7.3M
EX-Date
06/18/14
P/E TM
13.7x
Dividend
$0.60
Dividend Yield
1.85%
Current Stock Chart for FLEXSTEEL INDS (FLXS)

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flexsteel inds (FLXS) Details

Flexsteel Industries, Inc. manufactures, imports, and markets residential and commercial upholstered and wood furniture products in the United States. It offers sofas, loveseats, chairs, reclining and rocker-reclining chairs, swivel rockers, sofa beds, convertible bedding units, occasional tables, desks, dining tables and chairs, and bedroom furniture for use in home, office, hotel, healthcare, and other commercial applications. The company distributes its products through its sales force and independent representatives. Flexsteel Industries, Inc. was founded in 1929 and is headquartered in Dubuque, Iowa.

1,360 Employees
Last Reported Date: 08/23/13
Founded in 1929

flexsteel inds (FLXS) Top Compensated Officers

Chief Executive Officer, President and Direct...
Total Annual Compensation: $1.2M
Senior Vice President, Chief Executive Office...
Total Annual Compensation: $402.0K
Senior Vice President of Corporate Services a...
Total Annual Compensation: $291.0K
Senior Vice President of Sales & Marketing an...
Total Annual Compensation: $333.6K
Compensation as of Fiscal Year 2013.

flexsteel inds (FLXS) Key Developments

Flexsteel Industries, Inc. Enters into Amendments to its Short-Term Revolving Credit Line

On June 27, 2014, Flexsteel Industries Inc. entered into amendments to its short-term revolving credit line with Wells Fargo Bank N.A. The amendments extend the maturity date to June 30, 2016. In addition, the borrowing availability was increased from $10 million to $25 million. The credit facility will be used for the company's working capital needs. No amount is outstanding under this facility. The credit facility contains certain financial covenants, including that the company maintain working capital of $60 million and an interest coverage ratio of not less than 3.0 to 1.0.

Flexsteel Industries Inc. Announces Quarterly Dividend, Payable on July 3, 2014

The Board of Directors of Flexsteel Industries Inc. declared a quarterly dividend of $0.15 per share, payable on July 3, 2014 to shareholders of record as of June 20, 2014.

Flexsteel Industries Inc. Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended March 31, 2014; Provides Earnings Guidance for the Fourth Quarter of 2014

Flexsteel Industries Inc. announced unaudited consolidated earnings results for the third quarter and nine months ended March 31, 2014. For the quarter, the company reported net sales of $110,532,000 against $98,351,000 a year ago. Operating income was $6,589,000 against $4,868,000 a year ago. Income before income taxes was $7,060,000 against $5,008,000 a year ago. Net income was $4,420,000 or $0.58 per diluted share against $3,118,000 or $0.42 per diluted share a year ago. Adjusted net income was $4,294,000 against $3,507,000 a year ago. Adjusted diluted EPS of common stock was $0.56 against $0.47 a year ago. For the nine months, the company reported net sales of $327,414,000 against $284,178,000 a year ago. Operating income was $13,484,000 against $13,856,000 a year ago. Income before income taxes was $14,878,000 against $14,221,000 a year ago. Net income was $9,358,000 or $1.24 per diluted share against $8,911,000 or $1.22 per diluted share a year ago. Net cash provided by operating activities was $11,585,000 against $6,178,000 a year ago. Capital expenditures were $3,830,000 against $5,652,000 a year ago. Adjusted net income was $13,149,000 against $9,957,000 a year ago. Adjusted diluted EPS of common stock was $1.75 against $1.36 a year ago. The company provided earnings guidance for the fourth quarter of 2014. Due to existing strong order backlog and positive order trends the company expects top line growth will continue for the fourth quarter of fiscal year 2014. The company's order backlog of $51 million at March 31, 2014 is up 16% from March 31, 2013. The company anticipates sales of commercial products to moderately increase for the fiscal year 2014 fourth quarter. The company is confident in its ability to take advantage of market opportunities. Estimated capital expenditures will be approximately $500,000 for the remainder of fiscal year 2014.

 

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Industry Analysis

FLXS

Industry Average

Valuation FLXS Industry Range
Price/Earnings 17.7x
Price/Sales 0.5x
Price/Book 1.5x
Price/Cash Flow 17.2x
TEV/Sales 0.5x
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