EXHIBIT 99.2
LA-Z-BOY INCORPORATED
CONSOLIDATED STATEMENT OF INCOME
| | First Quarter Ended | |
| (Unaudited, amounts in thousands, except per share data) | | 7/27/13 | | | 7/28/12 | |
| Sales | | $ | 318,913 | | | $ | 301,501 | |
| Cost of sales | | | 215,627 | | | | 211,889 | |
| Gross profit | | | 103,286 | | | | 89,612 | |
| Selling, general and administrative expense | | | 88,464 | | | | 81,986 | |
| Operating income | | | 14,822 | | | | 7,626 | |
| Interest expense | | | 136 | | | | 173 | |
| Interest income | | | 180 | | | | 121 | |
| Other income (expense), net | | | 536 | | | | (121 | ) |
| Income before income taxes | | | 15,402 | | | | 7,453 | |
| Income tax expense | | | 5,467 | | | | 2,758 | |
| Net income | | | 9,935 | | | | 4,695 | |
| Net income attributable to noncontrolling interests | | | (345 | ) | | | (297 | ) |
| Net income attributable to La-Z-Boy Incorporated | | $ | 9,590 | | | $ | 4,398 | |
| | | | | | | | |
| Basic weighted average shares outstanding | | | 52,343 | | | | 52,193 | |
| Basic net income attributable to La-Z-Boy Incorporated per share | | $ | 0.18 | | | $ | 0.08 | |
| | | | | | | | |
| Diluted weighted average shares outstanding | | | 53,051 | | | | 53,040 | |
| Diluted net income attributable to La-Z-Boy Incorporated per share | | $ | 0.18 | | | $ | 0.08 | |
| | | | | | | | |
| Dividends declared per share | | $ | 0.04 | | | | — | |
LA-Z-BOY INCORPORATED
CONSOLIDATED BALANCE SHEET
| (Unaudited, amounts in thousands) | | 7/27/13 | | | 4/27/13 | |
| Current assets | | | | | | |
| Cash and equivalents | | $ | 139,500 | | | $ | 131,085 | |
| Restricted cash | | | 12,693 | | | | 12,686 | |
| Receivables, net of allowance of $19,944 at 7/27/13 and $21,607 at 4/27/13 | | | 139,186 | | | | 160,005 | |
| Inventories, net | | | 158,031 | | | | 146,343 | |
| Deferred income taxes – current | | | 20,414 | | | | 20,640 | |
| Other current assets | | | 27,125 | | | | 30,121 | |
| Total current assets | | | 496,949 | | | | 500,880 | |
| Property, plant and equipment, net | | | 113,254 | | | | 118,060 | |
| Goodwill | | | 12,837 | | | | 12,837 | |
| Other intangible assets | | | 4,838 | | | | 4,838 | |
| Deferred income taxes – long-term | | | 29,759 | | | | 30,572 | |
| Other long-term assets, net | | | 56,369 | | | | 53,184 | |
| Total assets | | $ | 714,006 | | | $ | 720,371 | |
| | | | | | | | |
| Current liabilities | | | | | | | | |
| Current portion of long-term debt | | $ | 7,564 | | | $ | 513 | |
| Accounts payable | | | 52,449 | | | | 50,542 | |
| Accrued expenses and other current liabilities | | | 84,406 | | | | 99,108 | |
| Total current liabilities | | | 144,419 | | | | 150,163 | |
| Long-term debt | | | 393 | | | | 7,576 | |
| Other long-term liabilities | | | 74,608 | | | | 70,664 | |
| Contingencies and commitments | | | — | | | | — | |
| Shareholders’ equity | | | | | | | | |
| Preferred shares – 5,000 authorized; none issued | | | — | | | | — | |
| Common shares, $1 par value – 150,000 authorized; 52,489 outstanding at 7/27/13 and 52,392 outstanding at 4/27/13 | | | 52,489 | | | | 52,392 | |
| Capital in excess of par value | | | 247,738 | | | | 241,888 | |
| Retained earnings | | | 223,333 | | | | 226,044 | |
| Accumulated other comprehensive loss | | | (35,745 | ) | | | (35,496 | ) |
| Total La-Z-Boy Incorporated shareholders' equity | | | 487,815 | | | | 484,828 | |
| Noncontrolling interests | | | 6,771 | | | | 7,140 | |
| Total equity | | | 494,586 | | | | 491,968 | |
| Total liabilities and equity | | $ | 714,006 | | | $ | 720,371 | |
LA-Z-BOY INCORPORATED
CONSOLIDATED STATEMENT OF CASH FLOWS
| | Quarter Ended | |
| (Unaudited, amounts in thousands) | | 7/27/13 | | | 7/28/12 | |
| Cash flows from operating activities | | | | | | |
| Net income | | $ | 9,935 | | | $ | 4,695 | |
| Adjustments to reconcile net income to cash provided by (used for) operating activities | | | | | | | | |
| Deferred income tax expense (benefit) | | | 700 | | | | (180 | ) |
| Provision for doubtful accounts | | | (1,245 | ) | | | 669 | |
| Depreciation and amortization | | | 5,847 | | | | 5,486 | |
| Stock-based compensation expense | | | 3,193 | | | | 3,619 | |
| Pension plan contributions | | | — | | | | (1,160 | ) |
| Change in receivables | | | 21,812 | | | | 19,657 | |
| Change in inventories | | | (11,688 | ) | | | (23,273 | ) |
| Change in other assets | | | (1,193 | ) | | | (2,906 | ) |
| Change in payables | | | 1,907 | | | | (4,546 | ) |
| Change in other liabilities | | | (16,248 | ) | | | (17,407 | ) |
| Net cash provided by (used for) operating activities | | | 13,020 | | | | (15,346 | ) |
| | | | | | | | |
| Cash flows from investing activities | | | | | | | | |
| Proceeds from disposal of assets | | | 2,078 | | | | 922 | |
| Capital expenditures | | | (3,216 | ) | | | (5,235 | ) |
| Purchases of investments | | | (6,432 | ) | | | (10,783 | ) |
| Proceeds from sales of investments | | | 8,558 | | | | 2,198 | |
| Change in restricted cash | | | (6 | ) | | | (6,931 | ) |
| Net cash provided by (used for) investing activities | | | 982 | | | | (19,829 | ) |
| | | | | | | | |
| Cash flows from financing activities | | | | | | | | |
| Payments on debt | | | (132 | ) | | | (2,121 | ) |
| Stock issued for stock and employee benefit plans | | | 763 | | | | 654 | |
| Excess tax benefit on stock option exercises | | | 3,277 | | | | 873 | |
| Purchases of common stock | | | (7,071 | ) | | | (4,012 | ) |
| Dividends paid | | | (2,110 | ) | | | — | |
| Net cash used for financing activities | | | (5,273 | ) | | | (4,606 | ) |
| | | | | | | | |
| Effect of exchange rate changes on cash and equivalents | | | (314 | ) | | | (25 | ) |
| Change in cash and equivalents | | | 8,415 | | | | (39,806 | ) |
| Cash and equivalents at beginning of period | | | 131,085 | | | | 152,370 | |
| Cash and equivalents at end of period | | $ | 139,500 | | | $ | 112,564 | |
LA-Z-BOY INCORPORATED
SEGMENT INFORMATION
| | Quarter Ended | |
| (Unaudited, amounts in thousands) | | 7/27/13 | | | 7/28/12 | |
| Sales | | | | | | |
| Upholstery segment: | | | | | | |
| Sales to external customers | | $ | 224,352 | | | $ | 210,363 | |
| Intersegment sales | | | 30,522 | | | | 27,804 | |
| Upholstery segment sales | | | 254,874 | | | | 238,167 | |
| Casegoods segment: | | | | | | | | |
| Sales to external customers | | | 27,276 | | | | 33,317 | |
| Intersegment sales | | | 2,160 | | | | 1,292 | |
| Casegoods segment sales | | | 29,436 | | | | 34,609 | |
| Retail segment sales | | | 66,274 | | | | 57,119 | |
| Corporate and Other | | | 1,011 | | | | 702 | |
| Eliminations | | | (32,682 | ) | | | (29,096 | ) |
| Consolidated sales | | $ | 318,913 | | | $ | 301,501 | |
| | | | | | | | |
| Operating Income (Loss) | | | | | | | | |
| Upholstery segment | | $ | 22,236 | | | $ | 15,578 | |
| Casegoods segment | | | 557 | | | | 1,279 | |
| Retail segment | | | 1,926 | | | | (1,988 | ) |
| Corporate and Other | | | (9,897 | ) | | | (7,243 | ) |
| Consolidated operating income | | $ | 14,822 | | | $ | 7,626 | |
