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Shares of Ethan Allen Interiors Inc. rose more than 12% in the extended session Monday after the furniture maker and retailer said it expects to swing to a fiscal first-quarter profit and to report sales above Wall Street expectations.
Ethan Allen ETH, +0.90% said its sales in the quarter ended Sept. 30 rose to $151.1 million. The company said it expects to report fiscal first-quarter adjusted per-share earnings between 34 cents a share and 36 cents a share.
Analysts polled by FactSet expect Ethan Allen to report an adjusted and GAAP loss of 2 cents a share on sales of $138 million.
Ethan Allen said it will release its full quarterly results after market close on Oct. 29.
“Our fundamentals remain strong. Retail written orders and backlogs continue to grow, with significant growth both in our design centers and from our e-commerce business,” Chief Executive Farooq Kathwari said in a statement.
Shares of Ethan Allen ended the regular trading day up 0.9%. The stock has lost 18% this year, contrasting with gains around 9% for the S&P 500 index SPX, +1.64% this year.
