Hooker Furnishings Corporation (NASDAQ:HOFT)

WEB NEWS

Thursday, April 6, 2017

Comments & Business Outlook

HOFT ($30.68) released Q4 numbers:

  • EPS $0.95 v $0.38

  • Revenue $173.9M v $60.6M

The company stated its revenue growth was driven by the addition of Home Meridian’s sales volume as a result of the acquisition. Quote from management:

“Our Hooker Casegoods, Upholstery and Home Meridian segments delivered their strongest performance of the year in the fourth quarter, enabling us to end the year with positive momentum and bring our full-year results in line with internal expectations,” said Paul B. Toms Jr., chairman and chief executive officer. “Outstanding fourth quarter results were driven by Home Meridian’s significant backlog at the end of the third quarter, resulting in record shipments in the fourth quarter, along with an excellent fall furniture market and post-market orders at Hooker legacy brands,” he continued. “With sales recovering at both Home Meridian and Hooker legacy brands, we demonstrated the significant earnings leverage possible with our asset-light, low fixed cost business model.”