Kathwari said the great recession hit Ethan Allen like a tsunami, with sales falling by over 40%. Since then the company has restructured itself and is now, just two years later, growing both gross margins and operating income. He said consumer confidence is an important factor for Ethan Allen, so the elections and now the fiscal cliff debate is having a delaying impact on sales.
Kathwari also took a moment to highlight some of Ethan Allen's unique accomplishments as his company celebrates its 80th anniversary. He said the company's Vermont facility will be burning zero oil this year because the plant is now converting its wood waste into electricity with a good old-fashioned steam engine.
Kathwari said it hasn't been easy being a U.S.-based manufacturer, but has survived by consolidating 30 plants to just six and growing into markets like China, where the company now exports its products made in New Jersey.
Cramer continued his recommendation of Ethan Allen.
No Huddle Offense
In his "No Huddle Offense" segment, Cramer once again praised
(CAG - Get Report)
, saying this is a food company that "just gets it." He said the company's 17% income growth and 8% revenue growth are just the beginning.
Cramer said that in addition to having growth that outpaces most other food companies and a 3.3% dividend yield, ConAgra is also playing into the hands of the healthy eating trend with its Healthy Choice line of products, and now the private-label trend with its acquisition of
. With input costs on the decline, Cramer said he only expects great things from ConAgra going forward.
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-- Written by Scott Rutt in Washington, D.C.
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