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Dubuque, Iowa-based Flexsteel Industries Inc. reported an increase of nearly 45% in net sales for its fourth quarter ended June 30, which included $23 million in sales to the recreational vehicle sector.
Net sales for the quarter were $108.3 million compared to $74.9 million the year prior, representing an increase of 44.6%. Net income for the current quarter was $2.7 million compared to $2.6 million the previous year.
Net sales for the fiscal year were up 37% to $401.2 million compared to $292.0 million in the prior year. Flexsteel realized a 22% increase in net income for the fiscal year to $10.1 million versus $8.3 million the previous year.
The company also reported that recreational vehicle net sales for the year rose to $85.4 million, representing a 13% increase.