Selling, general and administrative expenses for the quarter ended December 31, 2011 were $15.8 million or 18.6% of net sales compared to $15.5 million or 18.7% of net sales in the prior year including an increase in legal and professional fees of $0.7 million, primarily related to an Indiana civil lawsuit, and a decrease in bad debt expense of $0.7 million. Selling, general and administrative expenses for the six months ended December 31, 2011 were $31.1 million or 18.7% of net sales, including a $1.2 million increase in legal and professional fees, primarily related to the aforementioned lawsuit, and a $1.0 million decrease in bad debt expense, compared to $30.4 million or 17.9% of net sales in the prior year six-month period.Working capital (current assets less current liabilities) at December 31, 2011 was $102.8 million. Net cash provided by operating activities was $2.0 million during the six months ended December 31, 2011. Net income of $5.3 million and increased accounts payable of $1.6 million were offset by a $5.3 million planned increase in inventory.
Flexsteel Reports Earnings Improvement For Second Quarter And Year-To-Date Fiscal 2012
Check Out Our Best Services for Investors
Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
Every recommendation goes through 3 layers of intense scrutinyquantitative, fundamental and technical analysisto maximize profit potential and minimize risk.
More than 30 investing pros with skin in the game give you actionable insight and investment ideas.