View:
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (date of earliest event reported) October 22, 2003
(Exact name of registrant as specified in its charter)
Flexsteel Industries, Inc.
--------------------------
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
Minnesota 0-5151 42-0442319
Registrant's telephone number, including area code 563-556-7730
Item 5. Other Events
On October 22, 2003, Flexsteel Industries, Inc. Provides First Quarter
Information. See the Press Release attached hereto and incorporated herein for
further information.
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
Flexsteel Industries, Inc.
(Registrant)
Date: October 22, 2003 By: /s/ R. J. Klosterman
-----------------------
R. J. Klosterman
Financial Vice President &
Principal Financial Officer
Exhibit 99.1
Flexsteel Provides First Quarter Information
DUBUQUE, Iowa--(BUSINESS WIRE)--Oct. 22, 2003--Flexsteel
Industries, Inc. (Nasdaq:FLXS) announced today that it expects to
release first quarter earnings during the second week of November
2003.
As previously announced, Flexsteel acquired DMI Furniture, Inc.
effective September 18, 2003 and finalized an agreement and plan of
merger on October 1, 2003. As a result of the acquisition, additional
time is required to complete regulatory reporting requirements and the
consolidation of DMI with Flexsteel. DMI's operations for the period
September 18 through September 30, 2003 will be included in
Flexsteel's consolidated financial statements for the quarter ended
September 30, 2003.
Excluding the results of DMI, Flexsteel anticipates net sales for
the quarter ended September 30, 2003 to be approximately $74 million,
approximately 5% higher than the net sales reported in the prior year
quarter. Earnings per share are estimated to be in the range of $0.26
to $0.31 per diluted share before the consolidation of DMI.
Senior management will host a conference call for analysts to
review the first quarter operating results following the release of
earnings.
For more information, visit our web site at
http://www.flexsteel.com.
Statements, including those in this release, which are not
historical or current facts are "forward-looking statements" made
pursuant to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. There are certain important factors
that could cause results to differ materially from those anticipated
by some of the statements made herein. Investors are cautioned that
all forward-looking statements involve risk and uncertainty. Some of
the factors that could affect results are the cyclical nature of the
furniture industry, the effectiveness of new product introductions,
the product mix of sales, the cost of raw materials, the amount of
sales generated and the profit margins thereon, competition, both
foreign and domestic, credit exposure with customers, and general
economic conditions. Any forward-looking statement speaks only as of
the date of this press release. The Company specifically declines to
undertake any obligation to publicly revise any forward-looking
statements that have been made to reflect events or circumstances
after the date of such statements or to reflect the occurrence of
anticipated or unanticipated events.
CONTACT: Flexsteel Industries, Inc., Dubuque
Timothy E. Hall, Treasurer, 563-556-7730 x392