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)

10/31/2023
MRQ
1/31/2023
10/31/2022
MRQ
1/31/2022
1/31/2021
1/31/2020
1/31/2019
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments19,002 69,36665,84136,03111,435
Cash and cash equivalents19,002 69,36665,84136,03111,435
Receivables65,208 78,08883,29088,404112,557
Inventory, net of allowances, customer advances and progress billings96,675 75,02370,15992,813105,204
Inventory96,675 75,02370,15992,813105,204
Other undisclosed current assets6,418 5,2374,4324,7195,735
Total current assets:187,303 227,714223,722221,967234,931
Noncurrent Assets
Operating lease, right-of-use asset68,949 51,85434,61339,512
Property, plant and equipment27,010 28,05826,78029,90729,482
Intangible assets, net (including goodwill), including:46,731 24,34326,72773,42975,813
Goodwill14,952 1949040,05840,058
Intangible assets, net (excluding goodwill)31,779 23,85326,23733,37135,755
Other undisclosed intangible assets, net (including goodwill)   471   
Deferred income tax assets14,484 11,61214,1732,880
Other noncurrent assets9,663 4,4998931,1251,152
Deferred tax assets, net4,522
Other undisclosed noncurrent assets27,576 26,47925,36524,88823,816
Total noncurrent assets:194,413 146,845128,551171,741134,785
TOTAL ASSETS:381,716 374,559352,273393,708369,716
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities32,818 49,46243,20434,63755,563
Taxes payable 501 3,159
Employee-related liabilities7,1417,1364,9338,002
Accounts payable16,090 30,91632,21325,49340,838
Accrued liabilities16,728 11,4053,3544,2113,564
Deferred revenue8,511 7,1454,2563,351
Debt1,393   5,8345,829
Contract with customer, liability3,023
Other undisclosed current liabilities7,316 3306,6506,307 
Total current liabilities:50,038 56,93754,11050,12964,415
Noncurrent Liabilities
Long-term debt and lease obligation  46,57029,44158,07629,628
Long-term debt, excluding current maturities    24,28229,628
Liabilities, other than long-term debt72,783 9,92411,21911,38212,497
Deferred compensation liability, classified8,178 9,92411,21911,38211,513
Other liabilities843    984
Operating lease, liability63,762 46,57029,44133,794
Other undisclosed noncurrent liabilities 22,874     
Total noncurrent liabilities:95,657 56,49440,66069,45842,125
Total liabilities:145,695 113,43194,770119,587106,540
Equity
Equity, attributable to parent236,021 261,128257,503274,121263,176
Common stock50,770 53,29553,32351,58249,549
Accumulated other comprehensive income (loss)865 (51)(808)(713)247
Retained earnings184,386 207,884204,988223,252213,380
Total equity:236,021 261,128257,503274,121263,176
TOTAL LIABILITIES AND EQUITY:381,716 374,559352,273393,708369,716

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

10/31/2023
TTM
1/31/2023
10/31/2022
TTM
1/31/2022
1/31/2021
1/31/2020
1/31/2019
Revenues583,102 593,612540,081610,824683,501
Cost of revenue(461,056) (491,834)(1,262)(417)(158)
Cost of goods and services sold(461,056) (491,910)   
Provision for loan, lease, and other losses   76(1,262)(417)(158)
Other undisclosed gross profit(28,752) (76)(426,071)(496,449)(536,356)
Gross profit:93,294 101,702112,748113,958146,987
Operating expenses(99,340) (86,859)(82,794)(91,251)(94,312)
Other undisclosed operating loss    (44,318)  
Operating income (loss):(6,046) 14,843(14,364)22,70752,675
Nonoperating income
(Other Nonoperating income)
416 373336458369
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:(5,630) 15,216(14,568)21,92751,590
Other undisclosed loss from continuing operations before income taxes(519) (110)   
Income (loss) from continuing operations before income taxes:(6,149) 15,106(14,568)21,92751,590
Income tax expense (benefit)1,837 (3,388)4,142(4,844)(11,717)
Income (loss) from continuing operations:(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:(4,312) 11,718(10,426)17,08339,873
Preferred stock dividends and other adjustments(103) (46)(36)(25)(11)
Undistributed earnings (loss) allocated to participating securities, basic  (61) (60)(68)
Other undisclosed net income available to common stockholders, basic      
Net income (loss) available to common stockholders, diluted:(4,415) 11,611(10,462)16,99839,794

Comprehensive Income ($ in thousands)

10/31/2023
TTM
1/31/2023
10/31/2022
TTM
1/31/2022
1/31/2021
1/31/2020
1/31/2019
Net income (loss):(4,312) 11,718(10,426)17,08339,873
Other comprehensive income (loss)916 994(125)(616)(232)
Comprehensive income (loss):(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:(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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