Lyon Credit Services, Inc.

Industry News:

On February 3, 2012 it was reported that Flexsteel Inds. said it closed its second quarter ending Dec. 31 with an increase in residential furniture sales of 5.4% over the previous quarter. Sales for residential furniture were $67 million, up from $63.5 million in the corresponding quarter a year earlier. Including commercial sales, revenue for the quarter was $85 million, up 2.6% from the same period a year ago. The company reported net income for the current quarter of $2.9 million, up 38.3% from $2.1 million a year earlier. For the six months ended Dec. 31, the company reported net sales of $166.5 million compared to the prior year sales of $170.1, a decrease of 2.1%. Sales of residential furniture totaled $129.5 million, up 0.6%. Net income for the current six-month period was $5.3 million or 76 cents per share compared to $4.5 million or 65 cents per share in the prior year period.
On January 31, 2012 it was reported that Rent-A-Center said its revenues rose 8.9% in the fourth quarter to $737.5 million. Same-store revenues increased 2.7%. For the full year, revenues were up 5.5% to $2.88 billion. Same-store sales rose 0.8%. Net earnings for the year were $164.6 million, compared with $171.6 million in 2010.