Hooker Furnishings Corp
NASDAQ:HOFT

  • LAST PRICE
    17.8100
  • TODAY'S CHANGE (%)
    0.1200 (0.6783%)
  • Bid / Lots
    16.0600/ 1
  • Ask / Lots
    20.8300/ 1
  • Open / Previous Close
    17.9900 / 17.6900
  • Day Range
    17.7700
    18.4000
  • 52 Week Range
    13.0900
    27.1500
  • Volume
    16,195

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  • Sep 6, 2024

  • Sep 5, 2024

      Show headlines and story abstract

    • 6:03AM ET on Thursday Sep 05, 2024 by MT Newswires
      Companies Mentioned: HOFT
      06:03 AM EDT, 09/05/2024 (MT Newswires) -- ...

    • 6:01AM ET on Thursday Sep 05, 2024 by GlobeNewswire
      Companies Mentioned: HOFT

    • 6:00AM ET on Thursday Sep 05, 2024 by Dow Jones
      Companies Mentioned: HOFT
      ------------- ------------- Operating Activities: Net (loss) / income $ (6,042) $ 2,234 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization 4,617 4,372 Deferred income tax expense (1,941) 481 Noncash restricted stock and performance awards 425 1,043 Provision for doubtful accounts and sales allowances (326) (475) Gain on life insurance policies (1,596) (684) (Gain) / loss on sales of assets (2) 30 Changes in assets and liabilities: Trade accounts receivable 7,608 23,163 Inventories 4,716 35,062 Income tax recoverable 1,141 53 Prepaid expenses and other assets (6,153) (3,528) Trade accounts payable 3,434 (2,029) Accrued salaries, wages, and benefits (1,326) (2,843) Customer deposits 2,794 (241) Operating lease assets and liabilities 284 366 Other accrued expenses (1,919) (5,154) Deferred compensation (400) (438) Net cash provided by operating activities $ 5,314 $ 51,412 -------- --------- Investing Activities: Purchases of property and equipment (1,421) (3,965) Premiums paid on life insurance policies (326) (317) Proceeds received on life insurance policies 936 444 Proceeds from sales of assets 3 - Acquisitions - (2,373) Net cash used in investing activities (808) (6,211) -------- --------- Financing Activities: Purchase and retirement of common stock - (8,668) Cash dividends paid (4,915) (4,856) Payments for long-term loans (700) (700) Net cash used in financing activities (5,615) (14,224) -------- --------- Net (decrease) / increase in cash and cash equivalents (1,109) 30,977 Cash and cash equivalents - beginning of year 43,159 19,002 -------- --------- Cash and cash equivalents - end of quarter $ 42,050 $ 49,979 ======== ========= Supplemental disclosure of cash flow information: Cash paid for income taxes $ 65 $ 60 Cash paid for interest, net 728 914 Non-cash transactions: Increase / (decrease) in lease liabilities arising from changes in right-of-use assets $ 903 $ (6,356) Increase in property and equipment through accrued purchases 11 8 Table V HOOKER FURNISHINGS CORPORATION AND SUBSIDIARIES NET SALES AND OPERATING (LOSS) / INCOME BY SEGMENT (In thousands) (Unaudited) Thirteen Weeks Ended Twenty-Six Weeks Ended July 28, July 30, July 28, July 30, 2024 2023 2024 2023 -------- -------- --------- --------- % Net % Net % Net % Net Net sales Sales Sales Sales Sales Hooker Branded $34,756 36.6% $36,381 37.1% $ 70,109 37.1% $ 79,813 36.3% Home Meridian 30,516 32.1% 28,911 29.6% 56,940 30.2% 70,832 32.3% Domestic Upholstery 28,556 30.0% 30,892 31.6% 58,583 31.1% 65,996 30.0% All Other 1,253 1.3% 1,622 1.7% 3,020 1.6% 2,980 1.4% Consolidated $95,081 100% $97,806 100% $188,652 100% $219,621 100% ====== ====== ======= ======= Operating (loss) / income Hooker Branded $ (406) -1.2% $ 3,896 10.7% $ (399) -0.6% $ 6,614 8.3% Home Meridian (896) -2.9% (3,336) -11.5% (4,169) -7.3% (5,454) -7.7% Domestic Upholstery (1,285) -4.5% 724 2.3% (2,593) -4.4% 2,051 3.1% All Other (562) -44.9% (11) -0.7% (1,008) -33.4% 38 1.3% Consolidated $(3,149) -3.3% $ 1,273 1.3% $ (8,169) -4.3% $ 3,249 1.5% ====== ====== ======= ======= Table VI HOOKER FURNISHINGS CORPORATION AND SUBSIDIARIES Order Backlog (In thousands) (Unaudited) Reporting July 28, January 28, July 30, August 4, Segment 2024 2024 2023 2019 ----------- ------------ ------------ ----------- Hooker Branded $ 14,765 $ 15,416 $ 18,838 $ 12,267 Home Meridian 43,918 36,013 43,001 92,388 Domestic Upholstery 18,066 18,920 24,130 12,114 All Other 1,130 1,475 2,264 2,213 ------- --- ------- -------- ------- Consolidated $ 77,879 $ 71,824 $ 88,233 $ 118,982 ======= === ======= ======== =======

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