Flexsteel Industries, Inc. Provides Sales Guidance for the First Quarter and Full Fiscal Year 2022
August 24, 2021 at 09:00 am EDT
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Flexsteel Industries, Inc. provided sales guidance for the first quarter and full fiscal year 2022. The company announced that the best estimate for first quarter sales is between $130 million and $140 million, with the availability of drivers to deliver orders to customers being the largest determinant between the high and low end of that range. The midpoint of this guidance range or $135 million represents a growth rate of 28% versus the first quarter of fiscal 2021 and reflects confidence in continued growth momentum.
For the full fiscal year 2022, the company is targeting sales growth between 15% to 20%, but achievement of that growth will be dependent on global supply chain conditions improving and stabilizing in the second half of the year. In summary, company is planning for another year of aggressive profitable growth with double-digit sales improvement forecasted.
Flexsteel Industries, Inc. is a manufacturer, importer, and marketer of residential furniture products in the United States. The Companyâs furniture products business involves the distribution of manufactured and imported products consisting of a broad line of furniture for the residential market. The Companyâs product offerings include a variety of furniture, such as sofas, loveseats, chairs, reclining rocking chairs, swivel rockers, sofa beds, convertible bedding units, occasional tables, desks, dining tables and chairs, kitchen storage, bedroom furniture, and outdoor furniture. The Company distributes its products throughout the United States through its e-commerce channel and direct sales force. The Company operates manufacturing facilities located in Dublin, Georgia, and Juarez, Mexico. The Company utilizes various types of wood, fabric, leather, filling material, high carbon spring steel, bar and wire stock, polyurethane foam and other raw materials in manufacturing furniture.