by MARTINSVILLE, Va. — Hooker Furnishings reported a decrease in net sales for its fourth quarter and full year ended Feb. 1 while also reporting net income of $536,000 for the quarter.
For the quarter, sales totaled $67 million, down 20.5% compared with $84.2 million the same period last year.
Net income was $536,000, or 5 cents per share, compared with a loss of $2.3 million, or 22 cents per share, last year.
Operating income for the quarter was $629 million compared with an operating loss of $272 million last year, while gross profit was $20.1 million compared with $22 million last year.
For the full year, the company reported net sales of $278.1 million, down 12.4% compared with $317.4 million last year.
Its net loss was $27 million, or $2.54 per share, compared with $12.5 million, or $1.19 per share, the same period last year. Its operating loss was $16.5 million, compared with $9.5 million last year, and its gross profit was $73.4 million compared with $78.1 million last year.
For more on the fourth quarter and full-year results, click here.
