TAILIEUCHUNG - Hooker Furniture Reports Increased Sales, Income for Fiscal 2013 Third Quarter

Special Awards The NAC recommends that local and district shows not allow work entered in the Industry Self-Promotion or Public Service Categories to be eligible for Best of Show consideration. The NAC suggests the creation of local, district and national Public Service Special Judges Award. The NAC has revised the suggested method for selection of best copywriting and best art direction in the show. The NAC suggests that local and district shows charge their judges to select the best art direction from all Gold ADDY winning entries in the show. These pieces may receive special judges awards or Gold ADDYs as such. Mosaic. | HOOKER --FURNITURE-- December 3 2012 Hooker Furniture Reports Increased Sales Income for Fiscal 2013 Third Quarter MARTINSVILLE Va. Dec. 3 2012 GLOBE NEWSWIRE -- Hooker Furniture Corporation Nasdaq HOFT today reported net sales of million for its fiscal 2013 third quarter a or million increase over the same period a year ago. Net income rose or 175 000 to million or per share compared to per share in last year s third quarter. Hooker s fiscal 2013 third quarter began July 30 and ended on October 28 2012. For the fiscal 2013 first nine months net sales were million and net income was million or per share. For the fiscal 2013 first nine months sales decreased or million compared to the same period in fiscal 2012. However net income increased or 499 000 compared to the prior-year period. Earnings per share for the fiscal 2013 first nine months increased to per share compared to per share in the same prior-year period. Improved profitability in both 2013 fiscal periods was driven by lower sales discounting reduced costs and greater domestic manufacturing efficiency. In casegoods higher revenues were driven by improved shipments of backlogs and a better in-stock position. Upholstery sales improvements especially at Sam Moore and at Bradington-Young s import division were driven by higher demand. Across both segments in the company orders and shipments increased this quarter over the prior year said Paul B. Toms Jr. chairman and chief executive officer. We were able to increase net income over 11 percent for the first nine months of the year on lower sales which indicates greater efficiency particularly in upholstery manufacturing. We believe there s room for further improvement Toms said. In the upholstery segment Bradington-Young has achieved sustained profitability for several months as well as increased sales and order rates said Michael Delgatti president of Hooker Upholstery. Sam Moore on the .

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