SG&A expenses totaled $69 million for the fourth quarter, compared to $94.5 million in the fourth quarter of 2010. The decrease in fourth quarter SG&A was primarily due to a $10.2 million reduction in expenses related to restructuring, compensation and benefits, a $7.8 million reduction in non-working marketing and sales expenses, a $3 million reduction in bad debt expense, and $3.1 million of higher gains on facility and asset sales.On a full year basis SG&A totaled $302.9 million, as compared to $320.2 million in 2010. The decrease in SG&A on a full year basis was primarily due to a $14.6 million reduction in expenses related to restructuring, compensation and benefits, a $3.1 million reduction in non-working marketing and sales expenses, a $1.8 million reduction in bad debt expense, a $1.1 million reduction in vacant facility costs and $1.5 million of higher gains on facility and asset sales, partially offset by $4.4 million in favorable settlement of certain international tax and trade compliance matters that took place in 2010.
Furniture Brands' CEO Discusses Q4 2011 Results - Earnings Call Transcript
Check Out Our Best Services for Investors
- $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
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
Every recommendation goes through 3 layers of intense scrutinyquantitative, fundamental and technical analysisto maximize profit potential and minimize risk.
Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.