Hooker Furnishings Corporation (HOFT) Financial Statements (2024 and earlier)

Company Profile

Business Address 440 E COMMONWEALTH BLVD
MARTINSVILLE, VA 24115
State of Incorp. VA
Fiscal Year End January 31
Industry (SIC) 251 - Household Furniture (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

1/31/2024
10/31/2023
MRQ
1/31/2023
1/31/2022
1/31/2021
1/31/2020
1/31/2019
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments39,79519,00269,36665,84136,03111,435
Cash and cash equivalents39,79519,00269,36665,84136,03111,435
Receivables62,13865,20878,08883,29088,404112,557
Inventory, net of allowances, customer advances and progress billings65,15696,67575,02370,15992,813105,204
Inventory65,15696,67575,02370,15992,813105,204
Other undisclosed current assets5,9346,4185,2374,4324,7195,735
Total current assets:173,023187,303227,714223,722221,967234,931
Noncurrent Assets
Operating lease, right-of-use asset54,20268,94951,85434,61339,512
Property, plant and equipment29,07927,01028,05826,78029,90729,482
Intangible assets, net (including goodwill), including:44,58346,73124,34326,72773,42975,813
Goodwill15,03614,9521949040,05840,058
Intangible assets, net (excluding goodwill)29,54731,77923,85326,23733,37135,755
Other undisclosed intangible assets, net (including goodwill)   471   
Deferred income tax assets11,95914,48411,61214,1732,880
Other noncurrent assets13,3889,6634,4998931,1251,152
Deferred tax assets, net4,522
Other undisclosed noncurrent assets28,26427,57626,47925,36524,88823,816
Total noncurrent assets:181,475194,413146,845128,551171,741134,785
TOTAL ASSETS:354,498381,716374,559352,273393,708369,716
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities33,14532,81849,46243,20434,63755,563
Taxes payable 501 3,159
Employee-related liabilities7,1417,1364,9338,002
Accounts payable23,29416,09030,91632,21325,49340,838
Accrued liabilities9,85116,72811,4053,3544,2113,564
Deferred revenue5,0338,5117,1454,2563,351
Debt1,3931,393  5,8345,829
Contract with customer, liability3,023
Other undisclosed current liabilities7,0457,3163306,6506,307 
Total current liabilities:46,61650,03856,93754,11050,12964,415
Noncurrent Liabilities
Long-term debt and lease obligation21,829 46,57029,44158,07629,628
Long-term debt, excluding current maturities21,829   24,28229,628
Liabilities, other than long-term debt58,26572,7839,92411,21911,38212,497
Deferred compensation liability, classified7,7378,1789,92411,21911,38211,513
Other liabilities877843   984
Operating lease, liability49,65163,76246,57029,44133,794
Other undisclosed noncurrent liabilities  22,874    
Total noncurrent liabilities:80,09495,65756,49440,66069,45842,125
Total liabilities:126,710145,695113,43194,770119,587106,540
Equity
Equity, attributable to parent227,788236,021261,128257,503274,121263,176
Common stock49,50350,77053,29553,32351,58249,549
Accumulated other comprehensive income (loss)706865(51)(808)(713)247
Retained earnings177,579184,386207,884204,988223,252213,380
Total equity:227,788236,021261,128257,503274,121263,176
TOTAL LIABILITIES AND EQUITY:354,498381,716374,559352,273393,708369,716

Income Statement (P&L) ($ in thousands)

1/31/2024
10/31/2023
TTM
1/31/2023
1/31/2022
1/31/2021
1/31/2020
1/31/2019
Revenues460,747583,102593,612540,081610,824683,501
Cost of revenue(339,050)(461,056)(491,834)(1,262)(417)(158)
Cost of goods and services sold(339,050)(461,056)(491,910)   
Provision for loan, lease, and other losses   76(1,262)(417)(158)
Other undisclosed gross profit(28,752)(28,752)(76)(426,071)(496,449)(536,356)
Gross profit:92,94593,294101,702112,748113,958146,987
Operating expenses(107,148)(99,340)(86,859)(82,794)(91,251)(94,312)
Other undisclosed operating loss    (44,318)  
Operating income (loss):(14,203)(6,046)14,843(14,364)22,70752,675
Nonoperating income
(Other Nonoperating income)
1,328416373336458369
Other undisclosed loss from continuing operations before equity method investments, income taxes    (540)(1,238)(1,454)
Income (loss) from continuing operations before equity method investments, income taxes:(12,875)(5,630)15,216(14,568)21,92751,590
Other undisclosed loss from continuing operations before income taxes(1,635)(519)(110)   
Income (loss) from continuing operations before income taxes:(14,510)(6,149)15,106(14,568)21,92751,590
Income tax expense (benefit)3,7801,837(3,388)4,142(4,844)(11,717)
Income (loss) from continuing operations:(10,730)(4,312)11,718(10,426)17,08339,873
Income (loss) before gain (loss) on sale of properties:11,718(10,426)17,08339,873
Net income (loss) attributable to parent:(10,730)(4,312)11,718(10,426)17,08339,873
Preferred stock dividends and other adjustments(179)(103)(46)(36)(25)(11)
Undistributed earnings (loss) allocated to participating securities, basic(151) (61) (60)(68)
Other undisclosed net income available to common stockholders, basic 84     
Net income (loss) available to common stockholders, diluted:(10,976)(4,415)11,611(10,462)16,99839,794

Comprehensive Income ($ in thousands)

1/31/2024
10/31/2023
TTM
1/31/2023
1/31/2022
1/31/2021
1/31/2020
1/31/2019
Net income (loss):(10,730)(4,312)11,718(10,426)17,08339,873
Other comprehensive income (loss)528916994(125)(616)(232)
Comprehensive income (loss):(10,202)(3,396)12,712(10,551)16,46739,641
Other undisclosed comprehensive income (loss), net of tax, attributable to parent  (237)30(344)111
Comprehensive income (loss), net of tax, attributable to parent:(10,202)(3,396)12,475(10,521)16,12339,752

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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