Ethan Allen 4Q Earnings Down 9%

Danbury, CT, July 25, 2007--Ethan Allen Interiors reported a 9% drop in fourth-quarter earnings, but hit analysts' profit estimate.

Net earnings for the quarter ended June 30 was $20.5 million, or $0.65 per share, compared with $22.4 million, or $0.66 per share, for the year-ago period.

Sales for the quarter were $258.5 million, compared with $272 million the same period a year ago.

Analysts had estimated earnings of $0.65 per share, on sales of $266.8 million.

Wholesale revenue decreased 9% to $162.8 million for the quarter.

For the twelve month period the company posted earnings of $69.2 million, or $2.15 per share, compared with $85.7 million, or $2.51 per share, the year prior. Both years, the company reported a restructuring and impairment charge.

Excluding the impact of these charges in both periods, earnings per share were $2.41 on net income of $77.7 million in 2007, compared with earnings per share of $2.59 on net income of $88.3 million in 2006.

Year-end revenue for 2007 was $1.01 billion, compared with $1.07 billion in 2006.

Analysts had estimated earnings of $2.41 per share for the year on sales of $1.01 billion.