Financial Data and Key Metrics Changes - The company reported net sales of $94.6 million for the first quarter, reflecting a year-over-year sales growth of 6.8% when excluding the impact of ocean freight surcharges [60][55] - Operating income was $1.9 million, representing 2% of sales, which is an improvement from $0.4 million in the same quarter of the prior year [50][60] - Gross margin improved to 19.5% compared to 16% in the same quarter of the prior year, with expectations for further improvement in the second quarter [50][10] Business Line Data and Key Metrics Changes - The sourced soft seating business saw a unit growth of 13.7% year-over-year, while manufactured stationary products grew by 3.7% [20] - E-commerce sales grew by 10.7% in the quarter, driven by increased revenue from big box distribution, notably with Costco [8] Market Data and Key Metrics Changes - The company anticipates that the elimination of ocean freight surcharges will negatively impact year-over-year sales comparisons by approximately $4 million in the second quarter [61][55] - The company is facing headwinds from high interest rates, rising fuel prices, and other economic factors, which are affecting consumer spending [56][82] Company Strategy and Development Direction - The company is focused on innovation and expanding its product lines, including the introduction of new products at the October Market [84][59] - The strategy includes leveraging growth initiatives to offset industry challenges and drive sales growth [81][51] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to grow sales despite near-term economic challenges, with a focus on operational efficiency and cost savings [5][56] - The outlook for the second quarter includes sales guidance of $94 million to $100 million, reflecting a growth of 1% to 7% [61][88] Other Important Information - The company ended the quarter with a cash balance of $3 million and working capital of $118.3 million, with a revolving line of credit balance of $33 million [87] - The effective tax rate for fiscal 2024 is expected to be in the range of 29% to 32% [89] Q&A Session Summary Question: What was the backlog at the end of the quarter? - The increase in backlog was attributed to prepayments for annual insurance and SAP software licenses, totaling about $2.5 million [30][31] Question: Can you quantify the impact of growth initiatives on first quarter sales? - Growth initiatives were a substantial factor in sales growth, with the business likely down in the high single-digit to low double-digit range without them [92] Question: What is the outlook for SG&A expenses? - SG&A expenses are expected to remain between $16 million and $17 million per quarter, with growth at a lower rate than overall top line growth in future years [69] Question: How is the company managing its inventory levels? - Inventory levels have been steady, with a focus on reducing inventory throughout the year to improve cash flow [62][87] Question: What is the status of the Mexicali plant? - The Mexicali plant is currently leased out, and the company will assess demand to determine future needs [121][122]

Financial Data and Key Metrics Changes - The company reported fourth-quarter sales of $105.8 million, reflecting a sequential quarter-over-quarter growth of 6.8% compared to the third quarter [16][22] - Operating income for the quarter was $4.2 million, representing 4% of sales, which was at the high end of the guidance range [5][11] - Full-year operating income increased to $10.5 million from $6.6 million in the prior year [6] Business Line Data and Key Metrics Changes - The big box channel accounted for approximately 5% of total sales in the fourth quarter and is expected to grow faster than other channels in fiscal year 2024 [8] - The new Charisma brand targeting younger consumers was launched, with expectations of gaining additional retail penetration following a competitor's exit from the sub-$1,000 sofa market [9] Market Data and Key Metrics Changes - Orders for the fourth quarter were up 20% year-over-year, indicating strong market performance despite overall sales decline [32] - The company faced pricing pressure due to competitive dynamics and a return to pre-pandemic demand levels amid macroeconomic uncertainty [18] Company Strategy and Development Direction - The company is focused on growth initiatives, operational efficiency, and cost control to drive long-term profitable growth [18][27] - New product launches, including the Zecliner sleep solutions recliner and the flex modular furniture solution, are part of the strategy to expand market presence [41][43] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the long-term growth outlook despite near-term economic uncertainties [27][50] - The company anticipates modest gross margin growth throughout the fiscal year, with expected sales growth and operational productivity [12][18] Other Important Information - The company published its first annual ESG report, outlining its commitment to sustainable and responsible business practices [21] - Cash flow outlook indicates that working capital will be a source of cash flow, with a focus on reducing debt and funding innovation [25][77] Q&A Session Summary Question: Can you talk about the revenue pattern during the quarter? - The decline in net sales was primarily related to pricing, particularly the elimination of ocean freight surcharges, which had peaked in the prior year [30] Question: How did the gross margin progress look? - Significant gains in operational efficiency across the supply chain contributed to gross margin improvements, with expectations to continue expanding margins throughout fiscal year 2024 [33][35] Question: What is the outlook for inventory levels at retail? - Retailers are generally in a good place with inventory levels, although there is caution due to lower store traffic [62] Question: What are the cash flow priorities moving forward? - The main priorities will be to continue growth initiatives and consider acquisitions if favorable opportunities arise [64]

Flexsteel Industries, Inc. (NASDAQ:FLXS) Q3 2023 Earnings Conference Call May 2, 2023 9:00 AM ET Company Participants Jerry Dittmer – President and Chief Executive Officer Alejandro Huerta – Chief Financial Officer, Treasurer and Secretary Derek Schmidt – Chief Operating Officer Conference Call Participants Anthony Lebiedzinski – Sidoti & Co Operator Good morning and welcome to the Flexsteel Industries Third Quarter Fiscal Year 2023 Earnings Conference Call. All participants will be in a listen-only mode. [ ...

Flexsteel Industries, Inc. (NASDAQ:FLXS) Q1 2023 Earnings Conference Call October 25, 2022 9:00 AM ET Company Participants Alejandro Huerta - Chief Financial Officer Jerry Dittmer - President and Chief Executive Officer Derek Schmidt - Chief Operating Officer Conference Call Participants Anthony Lebiedzinski - Sidoti & Company JP Geygan - Global Value Investment Corporation John Deysher - Pinnacle Presentation Operator Good morning, and welcome to the Flexsteel Industries First Quarter and Fiscal Year 2023 ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D. C. 20549 ______________________________________ FORM 10-K ______________________________________ þ Annual Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the fiscal year ended June 30, 2022 or ¨ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from to Commission file number 0-5151 ______________________________________ FLEXSTEEL ...

Flexsteel Industries, Inc. (NASDAQ:FLXS) Q4 2022 Earnings Conference Call August 23, 2022 9:00 AM ET Company Participants Alejandro Huerta - Chief Financial Officer Jerry Dittmer - President and Chief Executive Officer Derek Schmidt - Chief Operating Officer Conference Call Participants Anthony Lebiedzinski - Sidoti & Company JP Geygan - Global Value Investment Corporation Richard Dearnley - Longport Partners Operator Good day and welcome to the Flexsteel Industries’ Fourth Quarter Fiscal Year 2022 Earnings ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D. C. 20549 ______________________________________ FORM 10-Q ______________________________________ þ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended March 31, 2022 or ¨ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from to Commission file number 0-5151 ______________________________________ FLEXSTEEL INDUSTRI ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D. C. 20549 ______________________________________ FORM 10-Q ______________________________________ þ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended December 31, 2021 or ¨ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from to Commission file number 0-5151 ______________________________________ FLEXSTEEL INDUS ...

Start Time: 09:00 January 1, 0000 9:27 AM ET Flexsteel Industries, Inc. (NASDAQ:FLXS) Q2 2022 Earnings Conference Call January 25, 2022, 09:00 AM ET Company Participants Jerry Dittmer - President and CEO Derek Schmidt - CFO and COO Conference Call Participants Anthony Perala - Punch & Associates Jeff Geygan - Global Value Investment Corp. Operator Good morning, and welcome to the Flexsteel Industries Second Quarter Fiscal Year 2022 Earnings Conference Call. All participants will be in a listen-only mode. [O ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D. C. 20549 ______________________________________ FORM 10-Q ______________________________________ þ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended September 30, 2021 or ¨ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from to Commission file number 0-5151 ______________________________________ FLEXSTEEL INDU ...