Hooker Furniture Fiscal Q1 Results Miss Views

Hooker Furniture shares were barely higher pre-market Tuesday after the company reported fiscal Q1 earnings rose to $0.41 per share from $0.22 a year ago, missing the $0.46 average estimate from analysts polled by Capital IQ.

Revenue in the quarter ended April 30 rose to $130.9 million from $121.8 million but was short of the $133.8 million consensus. “Buoyed by favorable economic and industry trends, we expect to see growth at above-industry levels in our consolidated business, better growth in our legacy business and increased profitability at Home Meridian in the short-term,” said CEO Paul Toms. “While encouraged by our overall profitability and sales performance, we’re also optimistic about the improvements we can achieve through our new strategic review.”

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