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Good Response
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Business New Haven
7/13/1998
By: Kristine Hansen
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DANBURY - The chairman and CEO of Ethan Allen Interiors Inc. (NYSE: ETH), M. Farooq Kathwari, discussed his company's recent repositioning strategy at the Piper Jaffray Conference. In response to moves to grow its customer base, Ethan Allan has forged 19.6-percent growth for the first nine fiscal months, ending March 31, 1998, over the same period a year before. Net income, before an extraordinary charge for redemption of senior notes, for the same period rose to $51.9 million, a 53.3-percent hike. Earnings per share of $1.76 diluted compares favorably to $1.16 for the prior period. Ethan Allen Interiors is a manufacturer, distributor and retailer of furniture and home accessories. Its stock closed at 49 5/16, up 1 3/16, on June 24.
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