Stanleytown, VA, June 15, 2006--Furniture maker Stanley Furniture Co., cut its second-quarter guidance citing weakness in retail furniture activity.
The company said it now anticipates a sales decline of 8 percent to 10 percent compared with shipments of $83.6 million in the year-ago quarter, and cut its earnings per share forecast to $0.29 to $0.31 from a prior forecast of $0.35 to $0.38. In the year-ago quarter, the company posted a profit of $0.44 per share.
Wall Street analysts expect the company to earn $0.37 per share for the quarter, on revenue of $80.3 million.
The company is slated to report its second-quarter results on July 17.
