Stanley Furniture Slips To Loss In Q2

(RTTNews) - Stanley Furniture Co., Inc. (STLY) reported second-quarter net loss of $3.5 million or $0.25 per share, compared to net income of $36.9 million or $2.54 per share in the comparable quarter last year.

Adjusted net loss for the quarter was $3.3 million or $0.23 per share, wider than $1.4 million or $0.10 per share in the year-ago period. On average, two analysts polled by Thomson Reuters expected the company to report a loss of $0.12 per share. Analysts' estimates typically exclude special items.

Net sales for the latest second quarter declined to $24.17 million from $24.43 million a year ago, while two analysts had a consensus revenue estimate of $24.81 million for the second quarter.