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10-Q Filing

HOOKER FURNISHINGS CORP CIK: 1077688 Q1 2024
Filing Information
Form Type 10-Q
Accession Number 0001185185-23-000619
Period End Date 20230430
Filing Date 20230608
Fiscal Year 2024
Fiscal Period Q1
XBRL Instance hoft20230430_10q_htm.xml
Balance Sheet 72 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 11.20M shares Point-in-time
Common stock, shares issued CommonStockSharesIssued 11.03M shares Point-in-time
Common stock, shares outstanding CommonStockSharesOutstanding 11.03M shares Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $19.00M USD Point-in-time
Common stock, shares outstanding CommonStockSharesOutstanding 11.20M shares Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $30.98M USD Point-in-time
Trade accounts receivable, net AccountsReceivableNetCurrent $54.53M USD Point-in-time
Trade accounts receivable, net AccountsReceivableNetCurrent $62.13M USD Point-in-time
Inventories InventoryNet $96.67M USD Point-in-time
Inventories InventoryNet $73.19M USD Point-in-time
Income tax recoverable IncomeTaxesReceivable $2.98M USD Point-in-time
Income tax recoverable IncomeTaxesReceivable $3.08M USD Point-in-time
Prepaid expenses and other current assets PrepaidExpenseAndOtherAssetsCurrent $6.42M USD Point-in-time
Prepaid expenses and other current assets PrepaidExpenseAndOtherAssetsCurrent $7.55M USD Point-in-time
Total current assets AssetsCurrent $187.30M USD Point-in-time
Total current assets AssetsCurrent $169.23M USD Point-in-time
Property, plant and equipment, net PropertyPlantAndEquipmentNet $29.07M USD Point-in-time
Property, plant and equipment, net PropertyPlantAndEquipmentNet $27.01M USD Point-in-time
Cash surrender value of life insurance policies CashSurrenderValueOfLifeInsurance $27.90M USD Point-in-time
Cash surrender value of life insurance policies CashSurrenderValueOfLifeInsurance $27.58M USD Point-in-time
Deferred taxes DeferredIncomeTaxAssetsNet $14.48M USD Point-in-time
Deferred taxes DeferredIncomeTaxAssetsNet $14.21M USD Point-in-time
Operating leases right-of-use assets OperatingLeaseRightOfUseAsset $68.95M USD Point-in-time
Operating leases right-of-use assets OperatingLeaseRightOfUseAsset $66.81M USD Point-in-time
Intangible assets, net IntangibleAssetsNetExcludingGoodwill $30.89M USD Point-in-time
Intangible assets, net IntangibleAssetsNetExcludingGoodwill $31.78M USD Point-in-time
Goodwill Goodwill $14.95M USD Point-in-time
Goodwill Goodwill $14.95M USD Point-in-time
Other assets OtherAssetsNoncurrent $9.66M USD Point-in-time
Other assets OtherAssetsNoncurrent $11.01M USD Point-in-time
Total non-current assets AssetsNoncurrent $194.41M USD Point-in-time
Total non-current assets AssetsNoncurrent $194.84M USD Point-in-time
Total assets Assets $364.07M USD Point-in-time
Total assets Assets $381.72M USD Point-in-time
Current portion of long-term debt LongTermDebtCurrent $1.39M USD Point-in-time
Current portion of long-term debt LongTermDebtCurrent $1.39M USD Point-in-time
Trade accounts payable AccountsPayableCurrent $15.99M USD Point-in-time
Trade accounts payable AccountsPayableCurrent $16.09M USD Point-in-time
Accrued salaries, wages and benefits EmployeeRelatedLiabilitiesCurrent $9.29M USD Point-in-time
Accrued salaries, wages and benefits EmployeeRelatedLiabilitiesCurrent $5.74M USD Point-in-time
Customer deposits ContractWithCustomerLiabilityCurrent $8.51M USD Point-in-time
Customer deposits ContractWithCustomerLiabilityCurrent $6.58M USD Point-in-time
Current portion of lease liabilities OperatingLeaseLiabilityCurrent $7.36M USD Point-in-time
Current portion of lease liabilities OperatingLeaseLiabilityCurrent $7.32M USD Point-in-time
Other accrued expenses OtherAccruedLiabilitiesCurrent $2.69M USD Point-in-time
Other accrued expenses OtherAccruedLiabilitiesCurrent $7.44M USD Point-in-time
Total current liabilities LiabilitiesCurrent $39.76M USD Point-in-time
Total current liabilities LiabilitiesCurrent $50.04M USD Point-in-time
Long term debt LongTermDebtNoncurrent $22.87M USD Point-in-time
Long term debt LongTermDebtNoncurrent $22.53M USD Point-in-time
Deferred compensation DeferredCompensationLiabilityClassifiedNoncurrent $8.18M USD Point-in-time
Deferred compensation DeferredCompensationLiabilityClassifiedNoncurrent $8.02M USD Point-in-time
Operating lease liabilities OperatingLeaseLiabilityNoncurrent $63.76M USD Point-in-time
Operating lease liabilities OperatingLeaseLiabilityNoncurrent $61.88M USD Point-in-time
Other long-term liabilities OtherLiabilitiesNoncurrent $855.00K USD Point-in-time
Other long-term liabilities OtherLiabilitiesNoncurrent $843.00K USD Point-in-time
Total long-term liabilities LiabilitiesNoncurrent $95.66M USD Point-in-time
Total long-term liabilities LiabilitiesNoncurrent $93.28M USD Point-in-time
Total liabilities Liabilities $145.69M USD Point-in-time
Total liabilities Liabilities $133.04M USD Point-in-time
Common stock, no par value, 20,000 shares authorized, 11,029 and 11,197 shares issued and outstanding on each date CommonStockValue $50.77M USD Point-in-time
Common stock, no par value, 20,000 shares authorized, 11,029 and 11,197 shares issued and outstanding on each date CommonStockValue $50.07M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $180.15M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $184.39M USD Point-in-time
Accumulated other comprehensive income AccumulatedOtherComprehensiveIncomeLossNetOfTax $812.00K USD Point-in-time
Accumulated other comprehensive income AccumulatedOtherComprehensiveIncomeLossNetOfTax $865.00K USD Point-in-time
Total shareholders equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $236.02M USD Point-in-time
Total shareholders equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $231.03M USD Point-in-time
Total liabilities and shareholders equity LiabilitiesAndStockholdersEquity $364.07M USD Point-in-time
Total liabilities and shareholders equity LiabilitiesAndStockholdersEquity $381.72M USD Point-in-time
Income Statement 32 line items
Line Item Tag Value Unit Period
Net sales RevenueFromContractWithCustomerIncludingAssessedTax $147.31M USD 1 Quarter
Net sales RevenueFromContractWithCustomerIncludingAssessedTax $121.81M USD 1 Quarter
Cost of sales CostOfGoodsAndServicesSold $93.91M USD 1 Quarter
Cost of sales CostOfGoodsAndServicesSold $117.86M USD 1 Quarter
Gross profit GrossProfit $27.91M USD 1 Quarter
Gross profit GrossProfit $29.46M USD 1 Quarter
Selling and administrative expenses SellingGeneralAndAdministrativeExpense $25.05M USD 1 Quarter
Selling and administrative expenses SellingGeneralAndAdministrativeExpense $24.66M USD 1 Quarter
Intangible asset amortization AmortizationOfIntangibleAssets $883.00K USD 1 Quarter
Intangible asset amortization AmortizationOfIntangibleAssets $878.00K USD 1 Quarter
Operating income OperatingIncomeLoss $3.92M USD 1 Quarter
Operating income OperatingIncomeLoss $1.98M USD 1 Quarter
Other income, net OtherNonoperatingIncomeExpense $56.00K USD 1 Quarter
Other income, net OtherNonoperatingIncomeExpense $278.00K USD 1 Quarter
Interest expense, net InterestIncomeExpenseNet $-179.00K USD 1 Quarter
Interest expense, net InterestIncomeExpenseNet $-28.00K USD 1 Quarter
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $1.85M USD 1 Quarter
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $4.17M USD 1 Quarter
Income tax expense IncomeTaxExpenseBenefit $991.00K USD 1 Quarter
Income tax expense IncomeTaxExpenseBenefit $402.00K USD 1 Quarter
Net income NetIncomeLoss $3.18M USD 1 Quarter
Net income NetIncomeLoss $1.45M USD 1 Quarter
Basic (in Dollars per share) EarningsPerShareBasic $0.13 USD 1 Quarter
Basic (in Dollars per share) EarningsPerShareBasic $0.27 USD 1 Quarter
Diluted (in Dollars per share) EarningsPerShareDiluted $0.13 USD 1 Quarter
Diluted (in Dollars per share) EarningsPerShareDiluted $0.26 USD 1 Quarter
Basic (in Shares) WeightedAverageNumberOfSharesOutstandingBasic 10.98M shares 1 Quarter
Basic (in Shares) WeightedAverageNumberOfSharesOutstandingBasic 11.87M shares 1 Quarter
Diluted (in Shares) WeightedAverageNumberOfDilutedSharesOutstanding 11.08M shares 1 Quarter
Diluted (in Shares) WeightedAverageNumberOfDilutedSharesOutstanding 11.95M shares 1 Quarter
Cash dividends declared per share (in Dollars per share) CommonStockDividendsPerShareDeclared $0.22 USD 1 Quarter
Cash dividends declared per share (in Dollars per share) CommonStockDividendsPerShareDeclared $0.20 USD 1 Quarter
Cash Flow Statement 69 line items
Line Item Tag Value Unit Period
Net income NetIncomeLoss $3.18M USD 1 Quarter
Net income NetIncomeLoss $1.45M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $2.15M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $2.29M USD 1 Quarter
Deferred income tax expense DeferredIncomeTaxExpenseBenefitIncludingTaxReserves $293.00K USD 1 Quarter
Deferred income tax expense DeferredIncomeTaxExpenseBenefitIncludingTaxReserves $1.84M USD 1 Quarter
Noncash restricted stock and performance awards ShareBasedCompensation $371.00K USD 1 Quarter
Noncash restricted stock and performance awards ShareBasedCompensation $354.00K USD 1 Quarter
Provision for doubtful accounts and sales allowances ProvisionForDoubtfulAccounts $37.00K USD 1 Quarter
Provision for doubtful accounts and sales allowances ProvisionForDoubtfulAccounts $-349.00K USD 1 Quarter
Gain on life insurance policies GainOnLifeInsurancePolicies $568.00K USD 1 Quarter
Gain on life insurance policies GainOnLifeInsurancePolicies $634.00K USD 1 Quarter
Trade accounts receivable IncreaseDecreaseInAccountsReceivable $-7.56M USD 1 Quarter
Trade accounts receivable IncreaseDecreaseInAccountsReceivable $7.39M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $-23.49M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $30.08M USD 1 Quarter
Income tax recoverable IncreaseDecreaseInIncomeTaxesReceivable $762.00K USD 1 Quarter
Income tax recoverable IncreaseDecreaseInIncomeTaxesReceivable $-93.00K USD 1 Quarter
Prepaid expenses and other assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $4.14M USD 1 Quarter
Prepaid expenses and other assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $2.08M USD 1 Quarter
Trade accounts payable IncreaseDecreaseInAccountsPayable $-240.00K USD 1 Quarter
Trade accounts payable IncreaseDecreaseInAccountsPayable $10.49M USD 1 Quarter
Accrued salaries, wages, and benefits IncreaseDecreaseInEmployeeRelatedLiabilities $-3.55M USD 1 Quarter
Accrued salaries, wages, and benefits IncreaseDecreaseInEmployeeRelatedLiabilities $-1.83M USD 1 Quarter
Customer deposits IncreaseDecreaseInContractWithCustomerLiability $-906.00K USD 1 Quarter
Customer deposits IncreaseDecreaseInContractWithCustomerLiability $-1.93M USD 1 Quarter
Operating lease assets and liabilities IncreaseDecreaseInOtherOperatingLiabilities $305.00K USD 1 Quarter
Operating lease assets and liabilities IncreaseDecreaseInOtherOperatingLiabilities $-168.00K USD 1 Quarter
Other accrued expenses IncreaseDecreaseInOtherAccruedLiabilities $-1.83M USD 1 Quarter
Other accrued expenses IncreaseDecreaseInOtherAccruedLiabilities $-4.74M USD 1 Quarter
Deferred compensation IncreaseDecreaseInDeferredCompensation $-225.00K USD 1 Quarter
Deferred compensation IncreaseDecreaseInDeferredCompensation $-149.00K USD 1 Quarter
Net cash provided by/(used in) operating activities NetCashProvidedByUsedInOperatingActivities $-30.02M USD 1 Quarter
Net cash provided by/(used in) operating activities NetCashProvidedByUsedInOperatingActivities $22.35M USD 1 Quarter
Acquisitions PaymentsToAcquireBusinessesNetOfCashAcquired $25.91M USD 1 Quarter
Acquisitions PaymentsToAcquireBusinessesNetOfCashAcquired - USD 1 Quarter
Purchases of property and equipment PaymentsToAcquirePropertyPlantAndEquipment $830.00K USD 1 Quarter
Purchases of property and equipment PaymentsToAcquirePropertyPlantAndEquipment $3.16M USD 1 Quarter
Premiums paid on life insurance policies PaymentsToAcquireLifeInsurancePolicies $118.00K USD 1 Quarter
Premiums paid on life insurance policies PaymentsToAcquireLifeInsurancePolicies $107.00K USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-26.86M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-3.27M USD 1 Quarter
Purchase and retirement of common stock PaymentsForRepurchaseOfCommonStock - USD 1 Quarter
Purchase and retirement of common stock PaymentsForRepurchaseOfCommonStock $4.32M USD 1 Quarter
Payments for long-term loans RepaymentsOfLongTermDebt - USD 1 Quarter
Payments for long-term loans RepaymentsOfLongTermDebt $350.00K USD 1 Quarter
Cash dividends paid PaymentsOfDividendsCommonStock $2.44M USD 1 Quarter
Cash dividends paid PaymentsOfDividendsCommonStock $2.39M USD 1 Quarter
Cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-7.11M USD 1 Quarter
Cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-2.39M USD 1 Quarter
Net increase/(decrease) in cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect $-59.27M USD 1 Quarter
Net increase/(decrease) in cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect $11.97M 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 $30.98M 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 $19.00M 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 $30.98M 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 $19.00M USD Point-in-time
Cash paid/(refund) for income taxes IncomeTaxesPaidNet $85.00K USD 1 Quarter
Cash paid/(refund) for income taxes IncomeTaxesPaidNet $-16.00K USD 1 Quarter
Cash paid for interest, net InterestPaidNet $202.00K USD 1 Quarter
Cash paid for interest, net InterestPaidNet - USD 1 Quarter
Increase in lease liabilities arising from changes in right-of-use assets IncreaseDecreaseInOperatingLeaseLiability $3.69M USD 1 Quarter
Increase in lease liabilities arising from changes in right-of-use assets IncreaseDecreaseInOperatingLeaseLiability $-6.00M USD Point-in-time
Increase in lease liabilities arising from changes in right-of-use assets IncreaseDecreaseInOperatingLeaseLiability - USD 1 Quarter
Increase in property and equipment through accrued purchases FairValueOfAssetsAcquired $47.00K USD 1 Quarter
Increase in property and equipment through accrued purchases FairValueOfAssetsAcquired $145.00K USD 1 Quarter
Stockholders Equity 29 line items
Line Item Tag Value Unit Period
Unrealized loss on defined benefit plan, tax OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossTax $4.00K USD 1 Quarter
Unrealized loss on defined benefit plan, tax OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossTax $17.00K USD 1 Quarter
Cash dividends paid and accrued, per share CommonStockDividendsPerShareCashPaid $0.22 USD 1 Quarter
Cash dividends paid and accrued, per share CommonStockDividendsPerShareCashPaid $0.20 USD 1 Quarter
Balance StockholdersEquity $261.13M USD Point-in-time
Balance StockholdersEquity $231.03M USD Point-in-time
Balance StockholdersEquity $262.26M USD Point-in-time
Balance StockholdersEquity $236.02M USD Point-in-time
Balance (in Shares) CommonStockSharesOutstanding 11.03M shares Point-in-time
Balance (in Shares) CommonStockSharesOutstanding 11.20M shares Point-in-time
Net income NetIncomeLoss $3.18M USD 1 Quarter
Net income NetIncomeLoss $1.45M USD 1 Quarter
Unrealized gain loss on defined benefit plan, net of tax OtherComprehensiveIncomeDefinedBenefitPlanNetPriorServiceCostsCreditArisingDuringPeriodNetOfTax $53.00K USD 1 Quarter
Unrealized gain loss on defined benefit plan, net of tax OtherComprehensiveIncomeDefinedBenefitPlanNetPriorServiceCostsCreditArisingDuringPeriodNetOfTax $14.00K USD 1 Quarter
Cash dividends paid and accrued Dividends $2.39M USD 1 Quarter
Cash dividends paid and accrued Dividends $2.44M USD 1 Quarter
Purchase and retirement of common stock StockRepurchasedAndRetiredDuringPeriodValue $-4.32M USD 1 Quarter
Restricted stock grants, net of forfeitures StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures $-96.00K USD 1 Quarter
Restricted stock grants, net of forfeitures StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures $-150.00K USD 1 Quarter
Restricted stock compensation cost StockIssuedDuringPeriodValueShareBasedCompensation $335.00K USD 1 Quarter
Restricted stock compensation cost StockIssuedDuringPeriodValueShareBasedCompensation $296.00K USD 1 Quarter
Performance-based restricted stock units costs AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationOtherLongtermIncentivePlansRequisiteServicePeriodRecognition $193.00K USD 1 Quarter
Performance-based restricted stock units costs AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationOtherLongtermIncentivePlansRequisiteServicePeriodRecognition $154.00K USD 1 Quarter
Balance StockholdersEquity $261.13M USD Point-in-time
Balance StockholdersEquity $231.03M USD Point-in-time
Balance StockholdersEquity $262.26M USD Point-in-time
Balance StockholdersEquity $236.02M USD Point-in-time
Balance (in Shares) CommonStockSharesOutstanding 11.03M shares Point-in-time
Balance (in Shares) CommonStockSharesOutstanding 11.20M 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 $1.45M USD 1 Quarter
Amortization of actuarial (loss) / gain OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossBeforeTax $18.00K USD 1 Quarter
Amortization of actuarial (loss) / gain OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossBeforeTax $70.00K USD 1 Quarter
Income tax effect on amortization OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossTax $4.00K USD 1 Quarter
Income tax effect on amortization OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossTax $17.00K USD 1 Quarter
Adjustments to net periodic benefit cost OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossNetOfTax $14.00K USD 1 Quarter
Adjustments to net periodic benefit cost OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossNetOfTax $53.00K USD 1 Quarter
Total comprehensive income ComprehensiveIncomeNetOfTax $1.40M 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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