- Current report filing (8-K)
August 05 2010 - 8:40AM
Edgar (US Regulatory)
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington
D.C. 20549
FORM
8-K
Current
Report
Pursuant
to Section 13 or 15(d) of the
Securities
Exchange Act of 1934
Date
of Report (Date of earliest event reported): August 4, 2010
ETHAN
ALLEN INTERIORS INC.
(Exact
name of registrant as specified in its charter)
Delaware
|
1-11692
|
06-1275288
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(State or other jurisdiction of
incorporation)
|
(Commission File Number)
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(I.R.S. Employer Identification No.)
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Ethan Allen Drive
Danbury, CT
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06811
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(Address
of principal executive offices)
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(Zip
Code)
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Registrant’s
telephone number, including area code:
(203)
743-8000
|
Not Applicable
|
|
|
(Former name or former address, if changed since last report)
|
|
Check the
appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any
of the following provisions (see General Instruction A.2. below):
[ ]
Written communications pursuant to Rule 425 under the Securities Act
(17 CFR 230.425)
[ ]
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17
CFR 240.14a-12)
[ ]
Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
[ ]
Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
INFORMATION TO BE INCLUDED IN REPORT
SECTION 2 – FINANCIAL INFORMATION
Item 2.02
|
Results of Operations and Financial Condition
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The information contained within Item 2.02 of this Form 8-K and the
Exhibits attached hereto shall not be deemed “filed” for purposes of
Section 18 of the Securities Exchange Act of 1934 and shall not be
deemed incorporated by reference in any filing under the Securities Act
of 1933, except as shall be expressly set forth by specific reference in
such filing.
On August 4, 2010, Ethan Allen Interiors Inc. (“Ethan Allen” or the
“Company”) issued a press release which contained certain preliminary
operating results for the quarter and year ended June 30, 2010. A copy
of the press release is attached hereto as Exhibit 99.1 and hereby
incorporated by reference.
Also on August 5, 2010, Ethan Allen will conduct a conference call
during which certain unaudited, non-GAAP financial information related
to the Company’s operations for the three and twelve months ended June
30, 2010 and June 30, 2009 will be disclosed. This information is set
forth in the attached Exhibit 99.1.
Exhibit 99.1 includes references to the Company's (i) consolidated
operating profit, (ii) wholesale operating profit, (iii) net income,
(iv) earnings per share, and (v) earnings before interest, taxes,
depreciation and amortization ("EBITDA"), all excluding the effects of
restructuring and impairment charges recorded during fiscal 2010 as a
result of the Company’s goodwill impairment charge and Company’s
decision to consolidate facilities, and changes made to its retail
commission plans, and fiscal 2009 as a result of the Company's decisions
to consolidate retail facilities and changes made to its retail
commission plans. A reconciliation of these financial measures to the
most directly comparable financial measure reported in accordance with
generally accepted accounting principles (“GAAP”) is also provided in
Exhibit 99.1.
Management believes that excluding items which are deemed to be
non-recurring in nature from financial measures such as operating
profit, wholesale operating profit, net income, and earnings per share,
allows investors to more easily compare and evaluate the Company's
financial performance relative to prior periods and industry
comparables. These adjusted measures also aid investors in
understanding the operating results of the Company absent such
non-recurring or unusual events.
Management considers EBITDA an important indicator of the operational
strength and performance of its business, including the ability of the
Company to pay interest, service debt and fund capital expenditures.
Given the nature of the Company's operations, including the tangible
assets necessary to carry out its production and distribution
activities, depreciation and amortization represent Ethan Allen's
largest non-cash charges. As these non-cash charges do not affect the
Company's ability to service debt or make capital expenditures, it is
important to consider EBITDA in addition to, but not as a substitute
for, operating income, net income and other measures of financial
performance reported in accordance with GAAP, including cash flow
measures such as operating cash flow.
SECTION 9 – FINANCIAL STATEMENTS AND EXHIBITS
Item 9.01
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Financial Statements and Exhibits
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(d) Exhibits
Exhibit
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Description
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99.1
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Press release dated August 4, 2010
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SIGNATURES
Pursuant to
the requirements of the Securities Exchange Act of 1934, as amended, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
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ETHAN ALLEN INTERIORS INC.
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|
|
|
|
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Date:
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August 4, 2010
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By:
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/s/ David R. Callen
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David R. Callen
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Vice President Finance & Treasurer
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EXHIBIT INDEX
Exhibit
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Description
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99.1
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Press release dated August 4, 2010
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3
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