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
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