Gross margin for the quarter ended December 31, 2010 was 22.7% compared to 24.0% in the prior year quarter. For the six months ended December 31, 2010, the gross margin was 22.6% compared to 22.9% for the prior year six-month period. Gross margin for the quarter and six-month period was adversely impacted by inventory write-down associated with the facility closing.Selling, general and administrative expenses for the quarter ended December 31, 2010 were $15.5 million or 18.7% of net sales compared to $15.3 million or 18.3% of net sales in the prior year quarter due to increases in bad debt and selling costs on slightly lower sales. For the six months ended December 31, 2010, selling, general and administrative expenses were $30.4 million or 17.9% of net sales compared to $29.4 million or 18.4% of net sales in the prior year six-month period reflecting better absorption of fixed costs.
Flexsteel Announces Second Quarter And Year-To-Date Fiscal 2011 Operating Results
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