A 19% increase in RV seating sales boosted Flexsteel Industries Inc.’s sales and earnings in the first quarter of its fiscal year 2003, which ended on Sept. 30.
The Dubuque, Iowa-based company earned $2 million in the July-through-September period, compared with $197,000 earned a year earlier.
Flexsteel’s first fiscal quarter net earnings included a $200,000 after-tax gain from the sale of land, according to the company.
Meanwhile, Flexsteel’s total sales in the three months ended Sept. 30 increased 11% to $70 million, and its RV seating sales climbed 19% higher to $19.8 million.
Flexsteel’s residential seating sales increased 10% in the July-through-September period to $46 million, while its commercial seating revenue declined 11% to $4.2 million.