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10-Q Filing

HOOKER FURNISHINGS CORP CIK: 1077688 Q1 2023
Filing Information
Form Type 10-Q
Accession Number 0001185185-22-000732
Period End Date 20220430
Filing Date 20220609
Fiscal Year 2023
Fiscal Period Q1
XBRL Instance hookerfurn20220501_10q_htm.xml
Balance Sheet 68 line items
Line Item Tag Value Unit Period
Common stock, shares authorized CommonStockSharesAuthorized 20.00M shares Point-in-time
Common stock, shares authorized CommonStockSharesAuthorized 20.00M shares Point-in-time
Common stock, shares issued CommonStockSharesIssued 11.92M shares Point-in-time
Common stock, shares issued CommonStockSharesIssued 12.00M shares Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $10.10M USD Point-in-time
Common stock, shares outstanding CommonStockSharesOutstanding 11.92M shares Point-in-time
Common stock, shares outstanding CommonStockSharesOutstanding 12.00M shares Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $69.37M USD Point-in-time
Trade accounts receivable, net AccountsReceivableNetCurrent $73.73M USD Point-in-time
Trade accounts receivable, net AccountsReceivableNetCurrent $83.02M USD Point-in-time
Inventories InventoryNet $107.68M USD Point-in-time
Inventories InventoryNet $75.02M USD Point-in-time
Income tax recoverable IncomeTaxesReceivable $4.36M USD Point-in-time
Income tax recoverable IncomeTaxesReceivable $5.12M USD Point-in-time
Prepaid expenses and other current assets PrepaidExpenseAndOtherAssetsCurrent $8.17M USD Point-in-time
Prepaid expenses and other current assets PrepaidExpenseAndOtherAssetsCurrent $5.24M USD Point-in-time
Total current assets AssetsCurrent $227.71M USD Point-in-time
Total current assets AssetsCurrent $214.10M USD Point-in-time
Property, plant and equipment, net PropertyPlantAndEquipmentNet $27.61M USD Point-in-time
Property, plant and equipment, net PropertyPlantAndEquipmentNet $28.06M USD Point-in-time
Cash surrender value of life insurance policies CashSurrenderValueOfLifeInsurance $26.48M USD Point-in-time
Cash surrender value of life insurance policies CashSurrenderValueOfLifeInsurance $27.18M USD Point-in-time
Deferred taxes DeferredIncomeTaxAssetsNet $11.61M USD Point-in-time
Deferred taxes DeferredIncomeTaxAssetsNet $9.78M USD Point-in-time
Operating leases right-of-use assets OperatingLeaseRightOfUseAsset $51.85M USD Point-in-time
Operating leases right-of-use assets OperatingLeaseRightOfUseAsset $52.70M USD Point-in-time
Intangible assets, net IntangibleAssetsNetExcludingGoodwill $23.85M USD Point-in-time
Intangible assets, net IntangibleAssetsNetExcludingGoodwill $34.43M USD Point-in-time
Goodwill Goodwill $490.00K USD Point-in-time
Goodwill Goodwill $15.52M USD Point-in-time
Other assets OtherAssetsNoncurrent $4.50M USD Point-in-time
Other assets OtherAssetsNoncurrent $5.76M USD Point-in-time
Total non-current assets AssetsNoncurrent $146.84M USD Point-in-time
Total non-current assets AssetsNoncurrent $172.97M USD Point-in-time
Total assets Assets $374.56M USD Point-in-time
Total assets Assets $387.07M USD Point-in-time
Trade accounts payable AccountsPayableCurrent $42.27M USD Point-in-time
Trade accounts payable AccountsPayableCurrent $30.92M USD Point-in-time
Accrued salaries, wages and benefits EmployeeRelatedLiabilitiesCurrent $5.31M USD Point-in-time
Accrued salaries, wages and benefits EmployeeRelatedLiabilitiesCurrent $7.14M USD Point-in-time
Customer deposits ContractWithCustomerLiabilityCurrent $7.14M USD Point-in-time
Customer deposits ContractWithCustomerLiabilityCurrent $9.52M USD Point-in-time
Current portion of lease liabilities OperatingLeaseLiabilityCurrent $7.47M USD Point-in-time
Current portion of lease liabilities OperatingLeaseLiabilityCurrent $7.45M USD Point-in-time
Other accrued expenses OtherAccruedLiabilitiesCurrent $2.43M USD Point-in-time
Other accrued expenses OtherAccruedLiabilitiesCurrent $4.26M USD Point-in-time
Total current liabilities LiabilitiesCurrent $66.98M USD Point-in-time
Total current liabilities LiabilitiesCurrent $56.94M USD Point-in-time
Deferred compensation DeferredCompensationLiabilityClassifiedNoncurrent $9.92M USD Point-in-time
Deferred compensation DeferredCompensationLiabilityClassifiedNoncurrent $9.79M USD Point-in-time
Lease liabilities OperatingLeaseLiabilityNoncurrent $46.57M USD Point-in-time
Lease liabilities OperatingLeaseLiabilityNoncurrent $47.27M USD Point-in-time
Other long-term liabilities OtherLiabilitiesNoncurrent - USD Point-in-time
Other long-term liabilities OtherLiabilitiesNoncurrent $766.00K USD Point-in-time
Total long-term liabilities LiabilitiesNoncurrent $57.83M USD Point-in-time
Total long-term liabilities LiabilitiesNoncurrent $56.49M USD Point-in-time
Total liabilities Liabilities $113.43M USD Point-in-time
Total liabilities Liabilities $124.81M USD Point-in-time
Common stock, no par value, 20,000 shares authorized, 12,002 and 11,922 shares issued and outstanding on each date CommonStockValue $53.65M USD Point-in-time
Common stock, no par value, 20,000 shares authorized, 12,002 and 11,922 shares issued and outstanding on each date CommonStockValue $53.30M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $208.68M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $207.88M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-51.00K USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-65.00K USD Point-in-time
Total shareholders equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $262.26M USD Point-in-time
Total shareholders equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $261.13M USD Point-in-time
Total liabilities and shareholders equity LiabilitiesAndStockholdersEquity $374.56M USD Point-in-time
Total liabilities and shareholders equity LiabilitiesAndStockholdersEquity $387.07M USD Point-in-time
Income Statement 32 line items
Line Item Tag Value Unit Period
Net sales RevenueFromContractWithCustomerIncludingAssessedTax $162.86M USD 1 Quarter
Net sales RevenueFromContractWithCustomerIncludingAssessedTax $147.31M USD 1 Quarter
Cost of sales CostOfGoodsAndServicesSold $129.28M USD 1 Quarter
Cost of sales CostOfGoodsAndServicesSold $117.86M USD 1 Quarter
Gross profit GrossProfit $33.58M USD 1 Quarter
Gross profit GrossProfit $29.46M USD 1 Quarter
Selling and administrative expenses SellingGeneralAndAdministrativeExpense $20.74M USD 1 Quarter
Selling and administrative expenses SellingGeneralAndAdministrativeExpense $24.66M USD 1 Quarter
Intangible asset amortization AmortizationOfIntangibleAssets $878.00K USD 1 Quarter
Intangible asset amortization AmortizationOfIntangibleAssets $596.00K USD 1 Quarter
Operating income OperatingIncomeLoss $12.24M USD 1 Quarter
Operating income OperatingIncomeLoss $3.92M USD 1 Quarter
Other income, net OtherNonoperatingIncomeExpense $278.00K USD 1 Quarter
Other income, net OtherNonoperatingIncomeExpense $4.00K USD 1 Quarter
Interest expense, net InterestIncomeExpenseNet $-28.00K USD 1 Quarter
Interest expense, net InterestIncomeExpenseNet $-31.00K USD 1 Quarter
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $4.17M USD 1 Quarter
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $12.22M USD 1 Quarter
Income tax expense IncomeTaxExpenseBenefit $991.00K USD 1 Quarter
Income tax expense IncomeTaxExpenseBenefit $2.77M USD 1 Quarter
Net income NetIncomeLoss $3.18M USD 1 Quarter
Net income NetIncomeLoss $9.44M USD 1 Quarter
Basic (in Dollars per share) EarningsPerShareBasic $0.79 USD 1 Quarter
Basic (in Dollars per share) EarningsPerShareBasic $0.27 USD 1 Quarter
Diluted (in Dollars per share) EarningsPerShareDiluted $0.26 USD 1 Quarter
Diluted (in Dollars per share) EarningsPerShareDiluted $0.78 USD 1 Quarter
Basic (in Shares) WeightedAverageNumberOfSharesOutstandingBasic 11.83M shares 1 Quarter
Basic (in Shares) WeightedAverageNumberOfSharesOutstandingBasic 11.87M shares 1 Quarter
Diluted (in Shares) WeightedAverageNumberOfDilutedSharesOutstanding 11.95M shares 1 Quarter
Diluted (in Shares) WeightedAverageNumberOfDilutedSharesOutstanding 11.97M shares 1 Quarter
Cash dividends declared per share (in Dollars per share) CommonStockDividendsPerShareDeclared $0.18 USD 1 Quarter
Cash dividends declared per share (in Dollars per share) CommonStockDividendsPerShareDeclared $0.20 USD 1 Quarter
Cash Flow Statement 66 line items
Line Item Tag Value Unit Period
Net income NetIncomeLoss $3.18M USD 1 Quarter
Net income NetIncomeLoss $9.44M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $1.71M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $2.29M USD 1 Quarter
Deferred income tax expense DeferredIncomeTaxExpenseBenefitIncludingTaxReserves $1.84M USD 1 Quarter
Deferred income tax expense DeferredIncomeTaxExpenseBenefitIncludingTaxReserves $1.75M USD 1 Quarter
Noncash restricted stock and performance awards ShareBasedCompensation $354.00K USD 1 Quarter
Noncash restricted stock and performance awards ShareBasedCompensation $-319.00K USD 1 Quarter
Provision for doubtful accounts and sales allowances ProvisionForDoubtfulAccounts $-349.00K USD 1 Quarter
Provision for doubtful accounts and sales allowances ProvisionForDoubtfulAccounts $-791.00K USD 1 Quarter
Gain on life insurance policies GainOnLifeInsurancePolicies $568.00K USD 1 Quarter
Gain on life insurance policies GainOnLifeInsurancePolicies $439.00K USD 1 Quarter
Trade accounts receivable IncreaseDecreaseInAccountsReceivable $7.25M USD 1 Quarter
Trade accounts receivable IncreaseDecreaseInAccountsReceivable $7.39M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $11.32M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $30.08M USD 1 Quarter
Income tax recoverable IncreaseDecreaseInIncomeTaxesReceivable - USD 1 Quarter
Income tax recoverable IncreaseDecreaseInIncomeTaxesReceivable $762.00K USD 1 Quarter
Prepaid expenses and other assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $2.44M USD 1 Quarter
Prepaid expenses and other assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $4.14M USD 1 Quarter
Trade accounts payable IncreaseDecreaseInAccountsPayable $7.37M USD 1 Quarter
Trade accounts payable IncreaseDecreaseInAccountsPayable $10.49M USD 1 Quarter
Accrued salaries, wages, and benefits IncreaseDecreaseInEmployeeRelatedLiabilities $-1.05M USD 1 Quarter
Accrued salaries, wages, and benefits IncreaseDecreaseInEmployeeRelatedLiabilities $-1.83M USD 1 Quarter
Accrued income taxes IncreaseDecreaseInAccruedIncomeTaxesPayable $1.03M USD 1 Quarter
Accrued income taxes IncreaseDecreaseInAccruedIncomeTaxesPayable - USD 1 Quarter
Customer deposits IncreaseDecreaseInContractWithCustomerLiability $3.00M USD 1 Quarter
Customer deposits IncreaseDecreaseInContractWithCustomerLiability $-906.00K USD 1 Quarter
Operating lease liabilities IncreaseDecreaseInOtherOperatingLiabilities $-168.00K USD 1 Quarter
Operating lease liabilities IncreaseDecreaseInOtherOperatingLiabilities $84.00K USD 1 Quarter
Other accrued expenses IncreaseDecreaseInOtherAccruedLiabilities $-1.83M USD 1 Quarter
Other accrued expenses IncreaseDecreaseInOtherAccruedLiabilities $-558.00K USD 1 Quarter
Deferred compensation IncreaseDecreaseInDeferredCompensation $8.00K USD 1 Quarter
Deferred compensation IncreaseDecreaseInDeferredCompensation $-149.00K USD 1 Quarter
Net cash (used in)/provided by operating activities NetCashProvidedByUsedInOperatingActivities $-30.02M USD 1 Quarter
Net cash (used in)/provided by operating activities NetCashProvidedByUsedInOperatingActivities $238.00K USD 1 Quarter
Acquisitions PaymentsToAcquireBusinessesNetOfCashAcquired - USD 1 Quarter
Acquisitions PaymentsToAcquireBusinessesNetOfCashAcquired $25.91M USD 1 Quarter
Purchases of property and equipment PaymentsToAcquirePropertyPlantAndEquipment $830.00K USD 1 Quarter
Purchases of property and equipment PaymentsToAcquirePropertyPlantAndEquipment $2.19M USD 1 Quarter
Premiums paid on life insurance policies PaymentsToAcquireLifeInsurancePolicies $155.00K USD 1 Quarter
Premiums paid on life insurance policies PaymentsToAcquireLifeInsurancePolicies $118.00K USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-2.34M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-26.86M USD 1 Quarter
Cash dividends paid PaymentsOfDividendsCommonStock $2.14M USD 1 Quarter
Cash dividends paid PaymentsOfDividendsCommonStock $2.39M USD 1 Quarter
Cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-2.14M USD 1 Quarter
Cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-2.39M USD 1 Quarter
Net decrease in cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect $-59.27M USD 1 Quarter
Net decrease in cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect $-4.25M USD 1 Quarter
Cash and cash equivalents - beginning of year CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $10.10M USD Point-in-time
Cash and cash equivalents - beginning of year CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $61.60M USD Point-in-time
Cash and cash equivalents - beginning of year CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $69.37M USD Point-in-time
Cash and cash equivalents - beginning of year CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $65.84M USD Point-in-time
Cash and cash equivalents - end of quarter CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $10.10M USD Point-in-time
Cash and cash equivalents - end of quarter CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $61.60M USD Point-in-time
Cash and cash equivalents - end of quarter CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $69.37M USD Point-in-time
Cash and cash equivalents - end of quarter CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $65.84M USD Point-in-time
Cash paid/(refund) for income taxes IncomeTaxesPaid $9.00K USD 1 Quarter
Cash paid/(refund) for income taxes IncomeTaxesPaid $85.00K USD 1 Quarter
Cash paid for interest, net InterestPaidNet - USD 1 Quarter
Cash paid for interest, net InterestPaidNet - USD 1 Quarter
Increase in lease liabilities arising from changes in right-of-use assets RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability $3.69M USD 1 Quarter
Increase in lease liabilities arising from changes in right-of-use assets RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability $6.00K USD 1 Quarter
Increase in property and equipment through accrued purchases FairValueOfAssetsAcquired $3.00K USD 1 Quarter
Increase in property and equipment through accrued purchases FairValueOfAssetsAcquired $47.00K USD 1 Quarter
Stockholders Equity 30 line items
Line Item Tag Value Unit Period
Unrealized loss on defined benefit plan, tax OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossTax $-24.00K USD 1 Quarter
Unrealized loss on defined benefit plan, tax OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossTax $4.00K USD 1 Quarter
Cash dividends paid and accrued, per share CommonStockDividendsPerShareCashPaid $0.20 USD 1 Quarter
Cash dividends paid and accrued, per share CommonStockDividendsPerShareCashPaid $0.18 USD 1 Quarter
Unrealized loss on defined benefit plan, tax OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossTax $-24.00K USD 1 Quarter
Unrealized loss on defined benefit plan, tax OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossTax $4.00K USD 1 Quarter
Balance StockholdersEquity $264.56M USD Point-in-time
Balance StockholdersEquity $257.50M USD Point-in-time
Balance StockholdersEquity $261.13M USD Point-in-time
Balance StockholdersEquity $262.26M USD Point-in-time
Balance (in Shares) CommonStockSharesOutstanding 11.92M shares Point-in-time
Balance (in Shares) CommonStockSharesOutstanding 12.00M shares Point-in-time
Net income (loss) NetIncomeLoss $3.18M USD 1 Quarter
Net income (loss) NetIncomeLoss $9.44M USD 1 Quarter
Unrealized gain loss on defined benefit plan, net of tax OtherComprehensiveIncomeDefinedBenefitPlanNetPriorServiceCostsCreditArisingDuringPeriodNetOfTax $14.00K USD 1 Quarter
Unrealized gain loss on defined benefit plan, net of tax OtherComprehensiveIncomeDefinedBenefitPlanNetPriorServiceCostsCreditArisingDuringPeriodNetOfTax $-76.00K USD 1 Quarter
Cash dividends paid and accrued Dividends $2.39M USD 1 Quarter
Cash dividends paid and accrued Dividends $2.14M USD 1 Quarter
Restricted stock grants, net of forfeitures StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures $-96.00K USD 1 Quarter
Restricted stock compensation cost StockIssuedDuringPeriodValueShareBasedCompensation $296.00K USD 1 Quarter
Restricted stock compensation cost StockIssuedDuringPeriodValueShareBasedCompensation $274.00K USD 1 Quarter
Performance-based restricted stock units costs AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationOtherLongtermIncentivePlansRequisiteServicePeriodRecognition $147.00K USD 1 Quarter
Performance-based restricted stock units costs AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationOtherLongtermIncentivePlansRequisiteServicePeriodRecognition $154.00K USD 1 Quarter
PSU awards AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationAndExerciseOfStockOptions $-740.00K USD 1 Quarter
Balance StockholdersEquity $264.56M USD Point-in-time
Balance StockholdersEquity $257.50M USD Point-in-time
Balance StockholdersEquity $261.13M USD Point-in-time
Balance StockholdersEquity $262.26M USD Point-in-time
Balance (in Shares) CommonStockSharesOutstanding 11.92M shares Point-in-time
Balance (in Shares) CommonStockSharesOutstanding 12.00M shares Point-in-time
Comprehensive Income 10 line items
Line Item Tag Value Unit Period
Net income NetIncomeLoss $3.18M USD 1 Quarter
Net income NetIncomeLoss $9.44M USD 1 Quarter
Amortization of actuarial (loss) / gain OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossBeforeTax $-100.00K USD 1 Quarter
Amortization of actuarial (loss) / gain OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossBeforeTax $18.00K USD 1 Quarter
Income tax effect on amortization OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossTax $-24.00K USD 1 Quarter
Income tax effect on amortization OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossTax $4.00K USD 1 Quarter
Adjustments to net periodic benefit cost OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossNetOfTax $14.00K USD 1 Quarter
Adjustments to net periodic benefit cost OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossNetOfTax $-76.00K USD 1 Quarter
Total comprehensive income ComprehensiveIncomeNetOfTax $9.52M USD 1 Quarter
Total comprehensive income ComprehensiveIncomeNetOfTax $3.17M USD 1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.

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