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Bistro coat Game Chair by Hooker Furniture Commanding attention when you go into the room the Bistro coat Game Chair is a sharp evince to any room. The fabric upholstered lay is a distinguishing feature creates a unique look for any dwell. This chair can be used as a dining chair or is perfect for sitting around the table for a bet night with friends and family. Capture a different yet luxurious be with this coat bet Chair. Features: -Constructed of faux leather coat rattan and flog -Chair comes with casters -Overall Dimensions: 37″ H x 24″ W x 24″ D XHTML: You can use these tags: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote have in mind=""> <have in mind> <code> <del datetime=""> <em> <i> <q have in mind=""> <strike> <strong>

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MARTINSVILLE. Va.--(BUSINESS equip)--Hooker Furniture Corporation (NASDAQ-GS:HOFT) today reported netsales of $73.4 million and net income of $4.9 million or $0.39 pershare (net of $293,000 or $0.02 per overlap in after-tax restructuringcharges) for the accommodate ended July 29. 2007. Due to a dress in Hooker Furniture's fiscal year the Company's2008 fiscal year began January 29. 2007 and will end February 3. 2008. The affiliate will analyse its operating results for the thirteen-weeksecond quarter of fiscal year 2008 with the 2006 three-month thirdquarter that ended August 31. 2006 (the "2006 quarter"). Second quarter 2008 net sales of $73.4 million decreased $9.6million or 11.5% compared to the 2006 accommodate net sales of $83.0million. Based on actual shipping days in each period average dailynet sales declined 10.1% to $1.15 million per day during the 64operating days in the 2008 second accommodate compared to $1.28 millionper day during the 65 operating days in the 2006 accommodate. 2008 second quarter net income of $4.9 million increased $3.6million or 301.4% compared to the 2006 accommodate net income of $1.2million. Earnings per overlap of $0.39 increased $0.29 or 290% whencompared to the 2006 quarter earnings per share of $0.10. Operatingincome for the 2008 back up accommodate increased to $7.5 million or 10.2%of net sales compared to operating income of $2.0 million or 2.5% ofnet sales in the 2006 accommodate. The primary contributors to theincrease in net income earnings per overlap and operating income were: An improvement in bring in acquire margin to 31.3% of net sales compared with 28.3% in the prior year quarter principally as a prove of the higher proportion of imported wood and coat products sold and displace delivered be of those imported products (primarily lower inbound transport and delivery costs) as a percentage of net sales; and, a $3.5 million or 18.9% change state in selling and administrative costs driven primarily by reductions in temporary warehousing and turn storage costs for imported wood furniture products displace early retirement and non-cash employee have ownership plan ("ESOP") costs (the ESOP was terminated in January 2007) lower selling expenses and a gain on corporate owned life insurance in connection with the death of a former executive of the Company partially balance by the selling and administrative expenses incurred by Sam Moore Furniture (acquired in April 2007); and, "We're pleased with our improved profitability and operationalperformance this accommodate even in the face of displace sales," said PaulB. Toms Jr.. Hooker's head chief executive officer and president."Our increased profitability confirms the opportunity we've seen forsome measure to alter financial and operational performance even in adifficult retail environment by realizing the efficiencies of our newbusiness model. Our improved operating margin for the current quarterreflects the be cutting initiatives we've had underway and theabsence of significant restructuring charges," he said. "While sales this accommodate were negatively impacted by theindustry-wide sales droop much of the shortfall is the result of ourexit from domestic wood furniture manufacturing which will have asmaller negative impact on both our top and furnish lines movingforward," he continued. Net sales decreased across all establishedproduct lines including wood metal and leather upholstered furniture,partially offset by $6.7 million in net sales from Sam MooreFurniture's fabric upholstery operations which were acquired byHooker on April 28. 2007. "We also are gratified by our continued develop in managing ourfinished goods inventories and believe we're adequately inventoriedfor the sales up-tick we typically see in the fall," Toms said. "Inaddition we've been able to create good cash flow and maintain astrong cash lay." At the end of the 2008 second quarter,inventories of $51.6 million (excluding $5.0 million in inventoryrelated to Sam Moore) decreased 24.3% from $68.1 million at November30. 2006 and 38.4% from $83.8 million at the end of the 2006 thirdquarter. During the 2008 first half the Company generated $23.8 million incash flows from operations. The affiliate used this change flow and anadditional $9.9 million in cash and cash equivalents during the 2008six-month period to fund: 1) common stock repurchases ($18.4 million);2) the acquisition of Sam Moore ($10.6 million); 3) dividends ($2.6million); 4) capital expenditures ($1.0 million net of disposals);and 5) scheduled debt repayments ($1.2 million). Cash and cashequivalents were $37.2 million at the end of the 2008 back up quartercompared to $46.7 million at the end of the 2008 first quarter. TheJuly 29. 2007 change position represents a 9.9% increase from $31.9million at the 2006 fiscal year-end on November 30 and a 253.4%change magnitude when compared to the cash position of $10.5 million at theend of the 2006 third quarter. "While sell conditions act to be challenging we expect thetypical change magnitude for furniture.

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2008 back up quarter net income of $4.9 million increased $3.6million or 301.4% compared to the 2006 accommodate net income of $1.2million. Earnings per share of $0.39 increased $0.29 or 290% whencompared to the 2006 accommodate earnings per share of $0.10. Operatingincome for the 2008 back up quarter increased to $7.5 million or 10.2%of net sales compared to operating income of $2.0 million or 2.5% ofnet sales in the 2006 quarter. The primary contributors to theincrease in net income earnings per share and operating income were: "While sales this quarter were negatively impacted by theindustry-wide sales droop much of the shortfall is the result of ourexit from domestic wood furniture manufacturing which ordain have asmaller negative impact on both our top and furnish lines movingforward," he continued. Net sales decreased across all establishedproduct lines including wood metal and leather upholstered furniture,partially offset by $6.7 million in net sales from Sam MooreFurniture's fabric upholstery operations which were acquired byHooker on April 28. 2007. "We also are gratified by our continued progress in managing ourfinished goods inventories and accept we're adequately inventoriedfor the sales up-tick we typically see in the go," Toms said. "Inaddition we've been able to create good cash flow and keep astrong cash position." At the end of the 2008 second accommodate,inventories of $51.6 million (excluding $5.0 million in inventoryrelated to Sam Moore) decreased 24.3% from $68.1 million at November30. 2006 and 38.4% from $83.8 million at the end of the 2006 thirdquarter. During the 2008 first half the Company generated $23.8 million incash flows from operations. The Company used this change flow and anadditional $9.9 million in change and cash equivalents during the 2008six-month period to fund: 1) common have repurchases ($18.4 million);2) the acquisition of Sam Moore ($10.6 million); 3) dividends ($2.6million); 4) capital expenditures ($1.0 million net of disposals);and 5) scheduled debt repayments ($1.2 million). Cash and cashequivalents were $37.2 million at the end of the 2008 second quartercompared to $46.7 million at the end of the 2008 first quarter. TheJuly 29. 2007 change position represents a 9.9% change magnitude from $31.9million at the 2006 fiscal year-end on November 30 and a 253.4%change magnitude when compared to the change position of $10.5 million at theend of the 2006 third quarter. During the recently completed second quarter. Hooker appointedveteran furniture executive Alan D. Cole to the new senior managementposition of Executive Vice President of Upholstery. In that capacity,he will oversee the operations of Bradington-Young and Sam Moore. Coleserved on Hooker's come in of Directors from December 2002 to walk 2004and has held senior management positions at other leading upholsteredfurniture companies. "Alan has the expertise in upholstery to help usrealize our strategic objective to change state a more important andcomplete upholstered furniture resource," added Toms. The Company's Board of Directors previously authorized therepurchase of up to $30 million of the affiliate's common have. "TheBoard's actions demonstrate its continued confidence in the Company'sstrategy growth opportunities and financial strength," said Toms. "Wecontinue to see the purchase of Hooker's shares as a wise use of theCompany's cash and a way to compound shareholder determine." Through July29. 2007 the affiliate has repurchased approximately 832,000 shares ofCompany common stock at a be cost excluding commissions ofapproximately $18.3 million or an average of $22.03 per share underthe authorization. Ranked among the nation's top 10 largest publicly traded furnituresources based on 2006 shipments to U. S retailers. Hooker Furniture isan 83-year old residential wood metal and upholstered furnitureresource. The Company's principal customers are domiciliate furnishingsretailers who are broadly dispersed throughout North America. Majorwood furniture product categories include domiciliate entertainment homeoffice evince dining bedroom and clean furniture. Hooker'sresidential upholstered seating companies include Cherryville,N. C.-based Bradington-Young a specialist in upscale motion andstationary flog furniture and Bedford. Va.-based Sam MooreFurniture a specialist in upscale occasional chairs with an emphasison fabric-to-frame customization. Please visit our websites atwww hookerfurniture com www bradington-young com andwww sammoore com. Statements made in this release other than those concerninghistorical financial information may be considered forward-lookingstatements. These statements are subject to risks and uncertaintiesthat could cause actual results to differ materially from those in theforward-looking statements including but not limited to: generaleconomic or business conditions both domestically andinternationally; the cyclical nature of the furniture industry;competition from non-traditional outlets such as catalogs internetand home improvement.

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… as a prove of our ongoing cost-cutting measures continued." HOFT gained $0.14 or 0.81% in the after hours trading at $17.57 on a volume of 101K shares. This entry was postedon Wednesday. September 5th. 2007 at 2:30 pmand is filed under. You can go any responses to this entry through the cater. You can or from your own site. XHTML: You can use these tags: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <label> <em> <i> <strike> <strong> IPO - sign Public Offering Blog :Powered by WordPress state-of-the-art semantic personal publishing platform and.

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Cardica. Inc. (Nasdaq: ). Volt Information Sciences. Inc. (NYSE: ) and Hooker Furniture Corp. (Nasdaq: ) are among the biggest percentage gainers in Thursday's trading among companies with merchandise capitalizations under $500 million. REGISTER NOW TO SMALLCAPINVESTOR. COM TO READ THIS ARTICLE: Enjoy exclusive breaking news on small cap companies available nowhere else. Register now for your Stock quotes are delayed at least 15 minutes for Nasdaq at least 20 minutes for NYSE/AMEX. U. S indexes are delayed at least 15 minutes with the exception of Nasdaq. Dow Jones Industrial add up and S&P 500 which are 2 minutes delayed.

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Furniture maker Hooker Furniture Corp on Wednesday posted higher fiscal second-quarter earnings on improved acquire margins and a change magnitude in selling administrative and restructuring costs. Posted in by procure (c) 2004 Yahoo! Inc. All rights reserved at

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