Stanley Furniture Co. Earnings: Here’s Why Investors Like These Results
Stanley Furniture Co. Inc. (NASDAQ:STLY) had a loss and missed Wall Street’s expectations, BUT beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are down 0%.
Stanley Furniture Co. Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased to $-0.15 in the quarter versus EPS of $-0.11 in the year-earlier quarter.
Revenue: Decreased 2.54% to $26.1 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Stanley Furniture Co. Inc. reported adjusted EPS loss of $0.15 per share. By that measure, the company missed the mean analyst estimate of $-0.11. It beat the average revenue estimate of $25.66 million.
Quoting Management: “We are pleased with the progress we made on our strategic initiatives during the first quarter. Our Young America brand, after three years of transition, recorded the first sequential increase in both orders and shipments since the fourth quarter of 2010. Our Young America backlog remains healthy and grew slightly during the quarter due to successful promotions and what we believe is our customers’ slow but steady return to confidence in the brand. Shipments of our Stanley Furniture brand significantly outpaced the previous three quarters and were down slightly compared to the prior year period, which was our strongest in 2012. Our improved service position allowed us to ship at a higher rate than incoming orders, which have been sluggish over the past few quarters. We have multiple growth initiatives underway, but we will not be able to continue growing unless our incoming order rate improves,” Prillaman continued. “During the second quarter, we will complete our corporate office and showroom consolidation and will introduce our brands in this new environment later this week at the Spring Furniture Market in High Point where the new face for our almost 90 year-old company begins taking shape for our customer,” said Prillaman.
Key Stats (on next page)…