Flexsteel Industries (FLXS) came out with quarterly earnings of $0.08 per share, beating the Zacks Consensus Estimate of $0.01 per share. This compares to loss of $1.05 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of 700%. A quarter ago, it was expected that this furniture maker would post a loss of $0.25 per share when it actually produced earnings of $0.09, delivering a surprise of 136%.

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Royce & Associates LP lessened its position in Flexsteel Industries, Inc. (NASDAQ:FLXS) by 56.6% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 69,000 shares of the company’s stock after selling 90,000 shares during the quarter. Royce & Associates LP owned approximately 1.30% of Flexsteel Industries worth $1,083,000 as of its most recent filing with the SEC.

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Furniture giant Flexsteel, number 28 on the FDMC 300, reported strong sales increases for the quarter ending March 31, 2021.

Net sales increased nearly 20 percent to $118.4 million compared to $98.8 million over the same period last year. Organic net sales, excluding its discontinued vehicle seating and hospitality lines, increased 32.9 percent. Gross margin increased to 19.5 percent over last year’s 14.0 percent. Record backlog growth of 131 percent was also seen.

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