HOFT - Hooker Furniture GAAP EPS of $0.42 revenue of $151.6M

• Hooker Furniture press release ( NASDAQ: HOFT ): Q3 GAAP EPS of $0.42.
• Revenue of $151.6M (+13.6% Y/Y).
• Gross profit and margin improved in all three segments. Consolidated operating income was $6.4 million, and consolidated net income was $4.8 million or $0.42 per diluted share for the fiscal third quarter compared to a net loss of $1.2 million or ($0.10) per share for the comparable prior year quarter.
• Global supply chain dynamics are stabilizing. Product flow and lead times have improved, production levels are at full capacity and ocean freight costs have lowered significantly. The lower freight costs have not positively impacted our profitability due to most of our warehouse inventory still carrying the higher costs.

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