Flexsteel Industries, Inc. (FLXS) financial statements (2022 and earlier)

Company profile

Business Address 385 BELL ST.
DUBUQUE, IA 52001
State of Incorp. MN
Fiscal Year End June 30
SIC 251 - Household Furniture (benchmarking)
More info Complete financial analysis Financial benchmarking

Balance sheet (Statement of financial position) ($ in thousands)

12/31/2021
TTM
6/30/2021
6/30/2020
6/30/2019
6/30/2018
6/30/2017
6/30/2016
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments4,0871,34248,19722,24743,70146,83236,780
Cash and cash equivalents4,0871,34248,19722,24727,75028,87436,780
Short-term investments    15,95117,958 
Receivables50,00155,98632,21738,15741,25342,36244,618
Inventory, net of allowances, customer advances and progress billings179,042161,12570,56593,65996,20499,39785,904
Inventory179,042161,12570,56593,65996,20499,39785,904
Assets held-for-sale, not part of disposal group61666612,329    
Other current assets8,3999,42118,53511,9048,4766,6599,141
Total current assets:242,145228,540181,843165,967189,634195,250176,443
Noncurrent Assets
Operating lease, right-of-use asset41,20627,0578,683
Property, plant and equipment38,49539,78343,31279,23890,72570,66164,124
Deferred income tax assets  2,111
Other noncurrent assets1,9081,3991,3101,5182,4792,3942,669
Other undisclosed noncurrent assets   7,5641,4551,7403,660
Total noncurrent assets:81,60968,23955,41688,32094,65974,79570,453
TOTAL ASSETS:323,754296,779237,259254,287284,293270,045246,896
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities58,12488,82643,49337,96137,32937,19533,357
Accounts payable38,09267,77327,74718,41417,22816,75811,023
Accrued liabilities14,32413,39112,47115,11914,64214,18215,348
Employee-related liabilities5,7087,6623,2754,4285,4596,2556,986
Deferred revenue 160200
Restructuring reserve2,6711,5221,9616,203   
Accrued environmental loss contingencies3,5703,5703,6003,6003,600  
Other undisclosed current liabilities6,6655,6734,208    
Total current liabilities:71,03099,75153,46247,76440,92937,19533,357
Noncurrent Liabilities
Long-term debt and lease obligation96,97527,8177,607    
Long-term debt, excluding current maturities59,7343,500     
Operating lease, liability37,24124,3177,607
Liabilities, other than long-term debt6851,2436851,0961,6662,0903,889
Deferred compensation liability, classified      894
Other liabilities6851,2436851,0961,6662,0902,995
Total noncurrent liabilities:97,66029,0608,2921,0961,6662,0903,889
Total liabilities:168,690128,81161,75448,86042,59539,28537,246
Stockholders' equity
Stockholders' equity attributable to parent155,064167,968175,505205,427241,698230,760209,650
Common stock8,1538,1338,0087,9037,8687,8227,700
Treasury stock, value(40,978)(31,320)(1,563)    
Additional paid in capital36,00134,01531,74827,51226,32126,18623,259
Accumulated other comprehensive income (loss)   8(2,044)(1,713)(2,228)
Retained earnings151,888157,140137,312170,004209,553198,465180,919
Total stockholders' equity:155,064167,968175,505205,427241,698230,760209,650
TOTAL LIABILITIES AND EQUITY:323,754296,779237,259254,287284,293270,045246,896

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

12/31/2021
TTM
6/30/2021
6/30/2020
6/30/2019
6/30/2018
6/30/2017
6/30/2016
Revenues533,937478,925366,926443,588489,180468,764500,106
Revenue, net489,180468,764500,106
Cost of revenue
(Cost of Goods and Services Sold)
(451,463)(382,195)(313,873)(373,648)(390,961)(360,113)(386,407)
Gross profit:82,47496,73053,05369,94098,219108,651113,699
Operating expenses(73,181)(71,411)(106,664)(113,094)(75,549)(71,387)(75,631)
Other undisclosed operating income1,4005,88119,216 1,835  
Operating income (loss):10,69331,200(34,395)(43,154)24,50537,26438,068
Nonoperating income
(Other Nonoperating income)
158267638546   
Interest and debt expense(426)     (69)
Other undisclosed income (loss) from continuing operations before equity method investments, income taxes    621322(72)
Income (loss) from continuing operations before income taxes:10,42531,467(33,757)(42,608)25,12637,58637,927
Income tax expense (benefit)(2,898)(8,419)6,91310,003(7,460)(13,800)(13,690)
Net income (loss) available to common stockholders, diluted:7,52723,048(26,844)(32,605)17,66623,78624,237

Comprehensive Income ($ in thousands)

12/31/2021
TTM
6/30/2021
6/30/2020
6/30/2019
6/30/2018
6/30/2017
6/30/2016
Net income (loss):7,52723,048(26,844)(32,605)17,66623,78624,237
Other comprehensive income (loss)  32,00558457(698)
Comprehensive income (loss):7,52723,048(26,841)(30,600)17,72424,24323,539
Other undisclosed comprehensive income (loss), net of tax, attributable to parent  (11)47(55)58206
Comprehensive income (loss), net of tax, attributable to parent:7,52723,048(26,852)(30,553)17,66924,30123,745

Statements sources

The financial statements are based on the company's filings with the 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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