A Dubuque-headquartered manufacturing company on Monday reported a 31% year-over-year spike in net sales during its recently completed quarter.
Flexsteel Industries recorded sales totaling $137.7 million in the three months that ended Sept. 30, compared to net sales of $105.2 million in the same quarter during the previous year.
The company reported net income of $4.4 million for the quarter, compared to net income of $3.9 million in the same quarter last year.
In its quarterly earnings report, Flexsteel officials said the strong quarter again was sparked by an increase in home furnishings products sold through retail stores.
“We are competing well and gaining market share,” said President and CEO Jerry Dittmer in a press release. “… We built outstanding growth momentum throughout fiscal 2021, and we’ve carried that momentum into fiscal 2022 and intend to continue this trajectory.”
However, he acknowledged “significant, global supply-chain headwinds” that will continue to pose challenges in the coming months.
Company officials will further discuss the earnings report during a conference call this morning.