$FLXS

FLEXSTEEL INDUSTRIES INC

CIK:0000037472|SEC Filings

Consolidated Statements Of Income And Comprehensive Income - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2024
Income Statement [Abstract]
Net sales	$ 459,178	$ 441,073	$ 412,752
Cost of goods sold	345,742	343,129	325,508
Gross profit	113,436	97,944	87,244
Selling, general and administrative expenses	70,886	66,696	70,444
Restructuring expense			2,982
Right-of-use asset impairment		14,079
(Gain) on sale of real estate		(753)
(Gain) on disposal of assets held for sale		(8,693)	(3,262)
Operating income	42,550	26,615	17,080
Interest income	1,288	421	20
Interest (expense)	(22)	(70)	(1,550)
Income before income taxes	43,816	26,966	15,550
Income tax provision	10,688	6,812	5,022
Net income and comprehensive income	$ 33,128	$ 20,154	$ 10,528
Weighted average number of common shares outstanding:
Basic	5,125	5,249	5,170
Diluted	5,456	5,678	5,519
Earnings per share of common stock
Basic	$ 6.46	$ 3.84	$ 2.04
Diluted	$ 6.07	$ 3.55	$ 1.91

Consolidated Statements Of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2024
OPERATING ACTIVITIES:
Net income	$ 33,128	$ 20,154	$ 10,528
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation	3,827	3,654	3,997
Deferred income taxes	4,516	(3,837)	(1,454)
Stock-based compensation expense	4,552	3,869	4,647
Provision for credit losses	168	(244)	(160)
Right-of-use asset impairment		14,079
Loss (gain) on disposition of property, plant and equipment	92	(9,446)	(2,839)
Changes in operating assets and liabilities:
Trade receivables	(7,596)	9,253	(5,910)
Inventories	(1,458)	7,441	25,499
Other current and non-current assets	3,396	(8,548)	(8,199)
Accounts payable - trade	10,862	(579)	1,373
Accrued liabilities	(281)	830	4,177
Other long-term liabilities	311	353	224
Net cash provided by operating activities	51,517	36,979	31,883
INVESTING ACTIVITIES:
Proceeds from sale of investments		1,155
Proceeds from sales of property, plant and equipment	21	11,535	4,179
Capital expenditures	(3,941)	(3,258)	(4,772)
Net cash (used in) provided by investing activities	(3,920)	9,432	(593)
FINANCING ACTIVITIES:
Dividends paid	(4,375)	(3,556)	(3,219)
Treasury stock purchases	(63,746)		(1,659)
Proceeds from lines of credit	9,000	202,344	367,818
Payments on lines of credit	(9,000)	(207,262)	(391,270)
Proceeds from issuance of common stock	70	141	88
Shares withheld for tax payments on vested shares and options exercised	(2,874)	(2,833)	(1,652)
Net cash (used in) financing activities	(70,925)	(11,166)	(29,894)
(Decrease) increase in cash and cash equivalents	(23,328)	35,245	1,396
Cash and cash equivalents at beginning of year	40,006	4,761	3,365
Cash and cash equivalents at end of year	16,678	40,006	4,761
SUPPLEMENTAL INFORMATION
Interest paid	22	107	1,694
Interest received	1,288	421
Cash paid for income taxes, net	8,109	9,397	4,296
Capital expenditures in accounts payable	$ 149	$ 390	$ 23

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2026	Jun. 30, 2025
CURRENT ASSETS:
Cash and cash equivalents	$ 16,678	$ 40,006
Trade receivables - less allowances: June 30, 2026, $2,040, June 30, 2025, $1,790	42,658	35,229
Inventories	90,593	89,135
Other	8,444	8,002
Total current assets	158,373	172,372
NONCURRENT ASSETS:
Property, plant and equipment, net	35,972	36,212
Operating lease right-of-use assets	35,672	41,545
Deferred income taxes	7,928	12,444
Other assets	16,064	19,913
TOTAL	254,009	282,486
CURRENT LIABILITIES:
Accounts payable - trade	36,238	25,617
Current portion of operating lease liabilities	8,397	7,809
Accrued liabilities:
Payroll and related items	13,411	11,260
Insurance	1,414	1,950
Sales and advertising related items	10,241	8,061
Other	5,964	7,317
Total current liabilities	75,665	62,014
LONG-TERM LIABILITIES:
Operating lease liabilities, less current maturities	43,499	51,561
Other liabilities	1,350	1,049
Total liabilities	120,514	114,624
COMMITMENTS AND CONTINGENCIES (Note 14)
SHAREHOLDERS' EQUITY:
Common stock - $1 par value; authorized 15,000 shares; 8,629 shares issued and 4,107 shares outstanding as of June 30, 2026; 8,514 shares issued and 5,307 shares outstanding as of June 30, 2025	8,629	8,514
Additional paid-in capital	41,110	40,644
Treasury stock, at cost; 4,522 shares as of June 30, 2026, and 3,207 as of June 30, 2025	(135,478)	(71,731)
Retained earnings	219,234	190,435
Total shareholders' equity	133,495	167,862
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	$ 254,009	$ 282,486