U.S. Markets open in 1 hr 37 mins

Ethan Allen misses Street 3Q forecasts

DANBURY, Conn. (AP) _ Ethan Allen Interiors Inc. (ETH) on Wednesday reported fiscal third-quarter net income of $2.3 million.

On a per-share basis, the Danbury, Connecticut-based company said it had profit of 8 cents. Earnings, adjusted for non-recurring costs, came to 23 cents per share.

The results did not meet Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 27 cents per share.

The home furnishings company posted revenue of $180.5 million in the period, which also missed Street forecasts. Four analysts surveyed by Zacks expected $184.4 million.

Ethan Allen shares have declined 15 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $31.25, a decrease of 9 percent in the last 12 months.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ETH at https://www.zacks.com/ap/ETH

_____

Keywords: Ethan Allen, Earnings Report