Flexsteel reports sales, income growth in recent quarter

A Dubuque-headquartered manufacturing company on Monday reported growth in both sales and income during the recently completed quarter compared to the same period a year ago.

Flexsteel Industries reported net sales of $140.4 million for the quarter that ended March 31, an 18.6% increase from $118.4 million during the same quarter a year prior, a press release states.

The company reported net income of $5.3 million for the recently completed quarter, up from $4.9 million for the same period a year ago.

Flexsteel President and CEO Jerry Dittmer said in the release that the sales growth came despite “continued supply chain and logistics challenges.”

“Although supply-chain conditions, including logistics, remain tumultuous, our team has deployed multiple strategies to navigate cost pressures and effectively service customers despite the turbulence,” he said in the release.

Dittmer said demand for furniture is expected to moderate in the short term, but Flexsteel will “continue to pursue new sources of growth including new customers and products.”

Company officials will discuss the quarterly report during a conference call today.