MARTINSVILLE, Va. -- Hooker Furniture Corp. reported yesterday a $1.2 million profit for its second quarter of fiscal 2011, which ended Aug. 1. It had a $463,000 loss in the same period a year ago.
Diluted earnings were 11 cents a share, compared with a loss of 4 cents a share a year ago.
Net sales rose 16.1 percent, to $53.4 million.
Hooker's board declared a quarterly cash dividend of 10 cents a share, payable Nov. 26 to shareholders registered on Nov. 12.
The company also announced that Larry Ryder, its chief financial officer, plans to retire on Jan. 31. Hooker said that Paul Huckfeldt, its chief accounting officer, will replace Ryder that day.
-- Richard Craver
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