A Dubuque-headquartered manufacturing company today reported a 19.8% year-over-year spike in net sales during its recently completed third quarter.
Flexsteel Industries recorded sales totaling $118.4 million in the three months that ended March 31, compared to net sales of $98.8 million in the same quarter during the previous year.
The company reported net income of $4.9 million for the third quarter, compared to a net loss of $5.3 million in last year’s third quarter.
In its quarterly earnings report, Flexsteel officials said the strong quarter was sparked by an increase in home furnishings products sold through retail stores. The company also reported strong e-commerce sales for its “homestyles” brand.
“We enter the fourth quarter well-positioned to continue profitable growth,” said CEO Jerry Dittmer in a press release. “Our sales momentum is strong and building.”
However, he acknowledged that supply-chain issues continue to create challenges throughout the manufacturing industry.
Company officials will further discuss the earnings report during a conference call Tuesday morning.