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Hooker Furniture reports $463,000 loss for quarter
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Published: September 10, 2009
MARTINSVILLE, Va. - Hooker Furniture Corp. said yesterday that it had a loss of $463,000 in the second quarter of its fiscal year 2010, which ended Aug. 2.
Hooker had net income of $2.1 million in the second quarter of 2009. It had an earnings loss of 4 cents a share, compared with diluted earnings of 18 cents a year ago.
The company said that although it had weaker sales in the quarter -- down nearly 29 percent -- sales in August were its best in 10 months.
"We had the best new-product placements from the spring High Point Market that we've had in several years, and shipments of those products should positively impact the next two quarters," said Paul Toms Jr., the chairman, chief executive and president of Hooker.
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