Ethan Allen Comments on Business and Announces Earnings Release Date for Fiscal 2019 First Quarter Results

Ethan Allen Comments on Business and Announces Earnings Release Date for Fiscal 2019 First Quarter Results

DANBURY, CT-October 11, 2018 (GLOBE NEWSWIRE)- Ethan Allen Interiors Inc. ("Ethan Allen" or "the Company") (NYSE:ETH)  commented today on its fiscal first quarter ended September 30, 2018.

The Company expects to report for the quarter:

• Consolidated net sales of $187.8 million, a 3.6% increase over the prior year period
• Wholesale net sales increase of 5.8% to $118.1 million
• Retail division net sales increase of 2.6% to $145.2 million
• Adjusted diluted earnings per share in the range of $0.32 to $0.33, a 14% to 18% increase

"We are well positioned to continue growing our sales and profits. Our retail network, product and marketing programs have been substantially strengthened. We increased advertising by 12.8% during the quarter as we launched our new artisan inspired products in September with a 116-page direct mail magazine and an aggressive advertising campaign in digital, print and other mediums. We plan to continue our strong marketing programs as we move forward." said Farooq Kathwari, Chairman and CEO. He further stated, "For the Company's retail division, total written order trends improved as the quarter progressed; while July decreased 8.9%, August increased 4.1% and September increased 5.2% over the respective prior year periods. As expected, our government contract business was strong during the quarter and we are pleased that our manufacturing, sourcing, and logistics are positioned to service increased sales across all our channels."

The retail division written orders increased 0.9% during the quarter in the Company's U.S.-based design centers. Its Canadian design centers experienced a decrease of 25.5% in written orders as consumers held off on purchases in light of economic uncertainty caused by the trade disputes. Total retail division written orders were flat compared to the prior year period.

The Company also announced it will release its financial results for the fiscal 2019 first quarter ended September 30, 2018, after the market closes on Wednesday, October 24, 2018. Following the release, the Company will host an analyst conference call at 5 p.m. EST to discuss its business and financial highlights. The analyst conference call will be webcast from the "Events and Presentations" page at http://www.ethanallen.com/investors. To access the conference call, dial 844-822-0103 (or 614-999-9166 for international callers), and enter conference ID 50728596. For those unable to listen live, the call will be archived on the company's website for at least 60 days.