2024 Q4 Form 10-Q Financial Statement

#000143774924032632 Filed on October 30, 2024

View on sec.gov

Income Statement

Concept 2024 Q4 2024 Q3
Revenue $154.3M
YoY Change -5.83%
Cost Of Revenue $60.47M
YoY Change -5.15%
Gross Profit $93.87M
YoY Change -6.26%
Gross Profit Margin 60.82%
Selling, General & Admin $76.07M
YoY Change -5.26%
% of Gross Profit 81.04%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $3.872M
YoY Change -1.9%
% of Gross Profit 4.12%
Operating Expenses $76.07M
YoY Change -5.26%
Operating Profit $17.57M
YoY Change -4.28%
Interest Expense -$60.00K
YoY Change -1.64%
% of Operating Profit -0.34%
Other Income/Expense, Net $2.198M
YoY Change 23.14%
Pretax Income $19.70M
YoY Change -1.85%
Income Tax $5.000M
% Of Pretax Income 25.38%
Net Earnings $14.72M
YoY Change -1.47%
Net Earnings / Revenue 9.54%
Basic Earnings Per Share $0.58
Diluted Earnings Per Share $0.57
COMMON SHARES
Basic Shares Outstanding 25.43M 25.42M
Diluted Shares Outstanding 25.62M

Balance Sheet

Concept 2024 Q4 2024 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $136.0M
YoY Change -16.67%
Cash & Equivalents $59.23M
Short-Term Investments $76.73M
Other Short-Term Assets $27.33M
YoY Change -5.6%
Inventory $143.2M
Prepaid Expenses
Receivables $6.855M
Other Receivables $0.00
Total Short-Term Assets $313.4M
YoY Change -11.18%
LONG-TERM ASSETS
Property, Plant & Equipment $213.9M
YoY Change -3.44%
Goodwill $25.40M
YoY Change 0.0%
Intangibles $19.74M
YoY Change 0.0%
Long-Term Investments $50.43M
YoY Change
Other Assets $2.946M
YoY Change 5.18%
Total Long-Term Assets $424.4M
YoY Change 9.72%
TOTAL ASSETS
Total Short-Term Assets $313.4M
Total Long-Term Assets $424.4M
Total Assets $737.7M
YoY Change -0.25%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $27.22M
YoY Change -8.14%
Accrued Expenses $47.38M
YoY Change 0.57%
Deferred Revenue $74.05M
YoY Change -4.97%
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $157.3M
YoY Change -4.62%
LONG-TERM LIABILITIES
Long-Term Debt $0.00
YoY Change
Other Long-Term Liabilities $4.398M
YoY Change 12.86%
Total Long-Term Liabilities $4.398M
YoY Change 12.86%
TOTAL LIABILITIES
Total Short-Term Liabilities $157.3M
Total Long-Term Liabilities $4.398M
Total Liabilities $263.1M
YoY Change -5.04%
SHAREHOLDERS EQUITY
Retained Earnings $777.9M
YoY Change 1.98%
Common Stock $389.0M
YoY Change 0.43%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $474.7M
YoY Change
Total Liabilities & Shareholders Equity $737.7M
YoY Change -0.25%

Cashflow Statement

Concept 2024 Q4 2024 Q3
OPERATING ACTIVITIES
Net Income $14.72M
YoY Change -1.47%
Depreciation, Depletion And Amortization $3.872M
YoY Change -1.9%
Cash From Operating Activities $15.08M
YoY Change -9.7%
INVESTING ACTIVITIES
Capital Expenditures $3.589M
YoY Change -2.92%
Acquisitions
YoY Change
Other Investing Activities $811.0K
YoY Change -85.74%
Cash From Investing Activities -$2.778M
YoY Change -239.67%
FINANCING ACTIVITIES
Cash Dividend Paid $20.18M
YoY Change -7.95%
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$22.48M
YoY Change -5.75%
NET CHANGE
Cash From Operating Activities $15.08M
Cash From Investing Activities -$2.778M
Cash From Financing Activities -$22.48M
Net Change In Cash -$10.39M
YoY Change 97.88%
FREE CASH FLOW
Cash From Operating Activities $15.08M
Capital Expenditures $3.589M
Free Cash Flow $11.49M
YoY Change -11.63%

Facts In Submission

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<table border="0" cellpadding="0" cellspacing="0" style="width: 100%; text-indent: 0px;"> <tbody><tr style="vertical-align: top;"> <td style="width: 18pt;"> <p style="font-family: 'Times New Roman', Times, serif;font-size: 10pt;font-variant:normal;margin:0pt;"><b>(1)</b></p> </td> <td style="width: auto;"> <p style="font-family: 'Times New Roman', Times, serif;font-size: 10pt;font-variant:normal;margin:0pt;"><b>Organization and Nature of Business</b></p> </td> </tr> </tbody></table> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">Ethan Allen Interiors Inc., through its wholly owned subsidiary, Ethan Allen Global, Inc., and Ethan Allen Global, Inc.’s subsidiaries (collectively, “we,” “us,” “our,” “Ethan Allen” or the “Company”), is a Delaware corporation and leading interior design company, manufacturer and retailer in the home furnishings marketplace. We are a global luxury home fashion brand that is vertically integrated from product design through home delivery, which offers our customers stylish product offerings, artisanal quality, and personalized service. We are known for the quality and craftsmanship of our products as well as for the exceptional personal service from design to delivery, and for our commitment to social responsibility and sustainable operations. Our strong network of entrepreneurial leaders and interior designers provide complimentary interior design service to our clients and sell a full range of home furnishing products through a retail network of design centers located throughout the United States and abroad as well as online at ethanallen.com.</p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">Ethan Allen design centers represent a mix of locations operated by independent licensees and Company-operated locations. At<i> </i>September 30, 2024, there were 142 Company-operated retail design centers with 138 located in the U.S. and 4 in Canada. We also have 46 independently owned and operated Ethan Allen design centers located in the U.S., Asia, the Middle East and Europe.</p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">We manufacture approximately 75% of our furniture in our North American manufacturing plants and have been recognized for product quality and craftsmanship since we were founded in 1932. At September 30, 2024 we own and operate <span style="-sec-ix-hidden:c383">eleven</span> manufacturing facilities, including <span style="-sec-ix-hidden:c384">four</span> manufacturing plants, <span style="-sec-ix-hidden:c385">one</span> sawmill, <span style="-sec-ix-hidden:c386">one</span> rough mill and <span style="-sec-ix-hidden:c387">one</span> kiln dry lumberyard in the U.S., <span style="-sec-ix-hidden:c388">three</span> manufacturing plants in Mexico and <span style="-sec-ix-hidden:c389">one</span> manufacturing plant in Honduras.</p>
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WeightedAverageNumberOfSharesIssuedBasic
25504000
CY2024Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
71000
CY2023Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
114000
CY2024Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
25618000
CY2023Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
25618000
CY2024Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.58
CY2023Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.59
CY2024Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.57
CY2023Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.58
CY2024Q3 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-5147000 usd
CY2024Q2 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-4189000 usd
CY2024Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
400000 usd
CY2023Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
400000 usd
CY2024Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
3200000 usd
CY2024Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P2Y2M12D
CY2024Q3 eth Number Of Company Operated Design Centers
NumberOfCompanyOperatedDesignCenters
142 pure
CY2024Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
154337000 usd
CY2023Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
163892000 usd
CY2024Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
17565000 usd
CY2023Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
18351000 usd
CY2024Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
2198000 usd
CY2023Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
1785000 usd
CY2024Q3 us-gaap Interest And Debt Expense
InterestAndDebtExpense
60000 usd
CY2023Q3 us-gaap Interest And Debt Expense
InterestAndDebtExpense
61000 usd
CY2024Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
19703000 usd
CY2023Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
20075000 usd
CY2024Q3 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
3872000 usd
CY2023Q3 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
3947000 usd
CY2024Q3 us-gaap Segment Expenditure Addition To Long Lived Assets
SegmentExpenditureAdditionToLongLivedAssets
3589000 usd
CY2023Q3 us-gaap Segment Expenditure Addition To Long Lived Assets
SegmentExpenditureAdditionToLongLivedAssets
3697000 usd
CY2024Q3 us-gaap Assets
Assets
737704000 usd
CY2024Q2 us-gaap Assets
Assets
744917000 usd
CY2024Q2 us-gaap Contractual Obligation
ContractualObligation
197900000 usd
CY2024Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
151300000 usd
CY2024Q2 us-gaap Purchase Obligation
PurchaseObligation
30700000 usd
CY2024Q3 us-gaap Operating Lease Payments
OperatingLeasePayments
8500000 usd
CY2024Q3 eth Increase Decrease In Operating Lease Rightof Use Asset
IncreaseDecreaseInOperatingLeaseRightofUseAsset
4700000 usd
CY2024Q3 eth Increase Decrease In Operating Lease Liabilities
IncreaseDecreaseInOperatingLeaseLiabilities
-4700000 usd

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