Furniture industry to build quality consumption ecological circle

Posted by Liu Yi over 6 months ago

Stanley Furniture (STLY) today announced sales and operating results for the fourth quarter and year ended December 31, 2016. Financial results for the fourth quarter of 2016 compared to the same period last year: net sales of $ 9.8 million, and $ 13.8 million, down 29.0%. Gross margin was 20.2% and 25.0%. Sales, general and administrative expenses were $ 3.4 million,[url=http://foldingleisurechairs.com/wholesale/1760.html]hotel guest room chair[/url] representing 34.2% of net sales and $ 2.7 million, representing 19.9% ​​of net sales. Net loss from continuing operations was $ 301,000, while net income from continuing operations was $ 919,000. To the shareholders of the distribution of a special 0.25 US dollars per share in cash dividends, totaling $ 3.6 million. Received CDSOA earnings of $ 1.1 million. Year-to-date financial results compared with the previous year: net sales of 44.6 million US dollars, while 57.4 million US dollars fell 22.3%. Gross margin was 18.9% and 23.9%. Sales,[url=http://foldingleisurechairs.com/wholesale/4440.html]2 seater camping chair[/url] general and administrative expenses were $ 14 million, representing 31.4% of net sales and $ 12.7 million, or 22.1% of net sales. Net loss from continuing operations was $ 5.3 million and net income was $ 5.4 million, including $ 1.1 million and $ 5.2 million for CDSOA earnings for 2016 and 2015. $ 2.6 million in cash was used in operating activities, including taxes received from CDAOA of $ 1.1 million and approximately $ 500,000 related to liquidation of all life insurance policies. Collected a net income of $ 22.5 million for all corporate life insurance policies. Paid a special dividend of $ 1.50 per share and repurchased the company's common stock using $ 1 million. As of December 31, 2016, the company's financial position reflects $ 4.2 million in cash and $ 663,000 in restricted cash. In addition,[url=http://loungechairsuppliers.com/beach-chairs/2169.html]lightweight beach chairs prices[/url] the company has the largest borrowing of up to $ 4 million under working capital.