Company profile

Ticker
FLXS
Exchange
CEO
Jerald K. Dittmer
Employees
Incorporated in
Location
Fiscal year end
Industry (SEC)
SEC CIK
IRS number
420442319

FLXS stock data

(
)

Calendar

31 Oct 19
10 Dec 19
30 Jun 20

News

Company financial data Financial data

Quarter (USD) Sep 19 Jun 19 Mar 19 Dec 18
Revenue 100.35M 100.21M 111.54M 118.35M
Net income 9.55M -19.92M -15.55M 1.57M
Diluted EPS 1.17 -2.52 -1.97 0.2
Net profit margin 9.52% -19.87% -13.94% 1.32%
Operating income 12.68M -26.6M -20.26M 2.1M
Net change in cash 13.99M -6.34M 3.01M 2.23M
Cash on hand 36.24M 22.25M 28.59M 25.58M
Cost of revenue 83.13M 94.86M 90.21M 96.88M
Annual (USD) Jun 19 Jun 18 Jun 17 Jun 16
Revenue 443.59M 489.18M 468.76M 500.11M
Net income -32.61M 17.67M 23.79M 24.24M
Diluted EPS -4.13 2.23 3.02 3.12
Net profit margin -7.35% 3.61% 5.07% 4.85%
Operating income -43.15M 24.51M 37.26M 38.07M
Net change in cash -5.5M -1.12M -7.91M 35.5M
Cash on hand 22.25M 27.75M 28.87M 36.78M
Cost of revenue 373.65M 390.96M 360.11M 386.41M

Financial data from company earnings reports

Financial report summary

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Management Discussion
  • Net sales for fiscal year 2019 were $443.6 million compared to $489.2 million in the prior fiscal year, a decrease of 9.3%.  For the fiscal year ended June 30, 2019, residential net sales were $374.5 million compared to $413.7 million for the year ended June 30, 2018, a decrease of 9.5%. The implementation of the tariff on furniture imported from China at 10% followed by an increase to 25% drove approximately 45% of the overall contraction in residential net sales. An additional 38% of decline in residential net sales was driven by lost share on products sold through our ecommerce channel due to the significant disruption caused by the implementation of the ERP system in the beginning of fourth quarter of fiscal 2018. Over the past fiscal year, the Company continued work stabilizing the ERP system, improving service levels, inventory positions and promotions to regain share positions through the end of the second quarter of fiscal 2019.  In addition, the Company has brought in new leadership over the Company’s ecommerce strategy and execution as well as a new Chief Information Officer to drive the information technology backbone including the ERP solution to facilitate success in the channel. The remaining reduction in residential net sales versus the prior fiscal year was attributed to general market softness as well as two strong comparative quarters in fiscal 2018. 
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