| Business Summary | | Flexsteel
Industries,
Inc.
is
engaged
in
the
design,
manufacture
and
sale
of
a
broad
line
of
upholstered
furniture
for
residential,
commercial
and
recreational
vehicle
seating
use.
The
Company's
products
include
a
variety
of
wood
and
upholstered
furniture
including
upholstered
sofas,
loveseats,
chairs,
reclining
and
rocker-reclining
chairs,
swivel
rockers,
sofa
beds
and
convertible
bedding
units,
some
of
which
are
for
the
home,
office,
motorhome,
travel
trailer,
vans,
healthcare
and
hotels.
Featured
as
a
basic
component
in
most
of
the
upholstered
furniture
is
a
unique
drop-in-seat
spring.
The
Company
primarily
distributes
its
products
throughout
most
of
the
United
States
through
its
sales
force
to
approximately
3,000
furniture
dealers,
department
stores,
recreational
vehicle
manufacturers
and
van
converters,
and
hospitality
and
healthcare
facilities.
The
Company's
products
are
also
sold
to
several
national
chains,
some
of
which
sell
on
a
private
label
basis. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | FLXS
manufactures
a
broad
line
of
upholstered
furniture
for
residential,
recreational,
vehicle,
commercial
seating
use.
Products
include
sofas,
love
seats,
reclining
and
rocker-reclining
chairs,
swivel
rockers,
sofa
beds,
convert.
bedding
units.
For
the
nine
months
ended
3/31/01,
net
sales
fell
4%
to
$205.3
million.
Net
income
fell
50%
to
$4.4
million.
Results
reflect
a
reduction
in
recreational
seating
sales
and
the
absence
of
a
$1.2
million
gain
on
the
sale
of
land. Recent Earnings Announcement For
the
3
months
ended
06/30/2001,
revenues
were
68,850;
after
tax
earnings
were
174. (Preliminary; reported in thousands of dollars.) | More
from
Market Guide: Significant
Developments |
| | | | FY2000
Compensation | | Pay | Exer | |
| L. Bruce Boylen, 68 Chairman | -- | -- | K. Bruce Lauritsen, 58 Pres,
CEO | $743K | -- | Edward Monaghan, 61 Exec.
VP, COO | 549K | $33K | James Richardson, 56 Sr.
VP of Marketing | 495K | -- | Thomas Burkhart, 57 Sr.
VP of Vehicle Seating | 423K | -- | Dollar
amounts are as of 30-June-2000 and compensation values are for the fiscal year ending on that date; "Pay" is salary, bonuses, etc.; "Exer" is the value of options excercised during the fiscal year. |
| More
from
Market Guide on Officers & Directors: Expanded
List, Bios,
Compensation,
Options
|
|