Ethan Allen Updates Comments on Business Outlook
March 26 2007 - 4:52PM
Business Wire
Ethan Allen Interiors Inc. (the �Company�) (NYSE: ETH) will be
presenting at Sidoti & Company�s Eleventh Annual New York
Emerging Growth Institutional Investor Forum on March 28, 2007. In
anticipation of being asked to comment on the Company�s current
business outlook, Chairman and CEO, Farooq Kathwari, said: �As has
been stated by others in our industry, the economic environment for
home furnishings retail remains challenging. In addition, in the
prior year quarter ended March 2006, we experienced strong growth
with sales increasing 15.5%, making prior year comparisons very
challenging. Despite these factors, at this stage, we believe we
have the opportunity to generate quarterly earnings per share in
the range of $0.53 to $0.56 as compared to $0.59 in the prior year
quarter.� Ethan Allen�s earnings release for the quarter ended
March 31, 2007 is scheduled for April 24, 2007. The Company will
conduct a conference call at 11:00 am Eastern time which can be
accessed at http://ethanallen.com/investors. In discussing
marketing initiatives, Mr. Kathwari continued, �We continue to
differentiate Ethan Allen by focusing on providing our clients with
a personalized experience, including complimentary design service.
Our design centers have been updated, offering inspirational
lifestyle displays with an eclectic mix of new products introduced
over the last few years. Our introduction of Modern Glamour is
being well received and we are supporting it with major marketing
initiatives, including direct mail and national television
advertising.� Videos of Ethan Allen�s lifestyle displays and new
television commercials can be viewed at
http://ethanallen.com/style. Ethan Allen Interiors Inc. is a
leading manufacturer and retailer of quality home furnishings. The
Company sells a full range of furniture products and decorative
accessories through a dedicated network of 307 design centers in
the United States and abroad, of which 152 are Company-owned. Ethan
Allen has 9 manufacturing facilities, which include 2 sawmills,
located throughout the United States. This press release should be
read in conjunction with the Company�s Annual Report on Form 10-K
for the year ended June 30, 2006 and other reports filed with the
Securities and Exchange Commission. This press release and related
discussions contain forward-looking statements made pursuant to the
safe harbor provisions of the Private Securities Litigation Reform
Act of 1995. Such forward-looking statements reflect management�s
current expectations concerning future events and results of the
Company, and are subject to various assumptions, risks and
uncertainties. Accordingly, actual future events or results could
differ materially from those contemplated by the forward-looking
statements. The Company assumes no obligation to update or provide
revision to any forward-looking statement at any time for any
reason.
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