EXHIBIT 99.2
Ethan Allen Interiors Inc.
GAAP Reconciliation
Three Months Ended September 30, 2007 and 2006
(in thousands, except per share amounts)
| Three Months Ended
September |
|---|
| 2007
| 2006
|
|---|
| Net Income / Earnings Per Share | | | | | | | | |
| Net income | | | $ | 17,504 | | $ | 8,452 | |
| Add: restructuring and impairment charge, net of | | |
| related tax effect | | | | -- | | | 8,709 | |
|
|
|
Net income (excluding restructuring and impairment
charge) | | | $ | 17,504 | | $ | 17,161 | |
|
|
|
| Earnings per basic share | | | $ | 0.58 | | $ | 0.27 | |
|
|
|
Earnings per basic share (excluding restructuring and
impairment charge) | | | $ | 0.58 | | $ | 0.54 | |
|
|
|
| Basic weighted average shares outstanding | | | | 30,084 | | | 31,815 | |
| |
| Earnings per diluted share | | | $ | 0.57 | | $ | 0.26 | |
|
|
|
Earnings per diluted share (excluding restructuring and
impairment charge) | | | $ | 0.57 | | $ | 0.53 | |
|
|
|
| Diluted weighted average shares outstanding | | | | 30,464 | | | 32,631 | |
| |
| Consolidated Operating Income / Operating Margin | | |
| Operating income | | | $ | 27,797 | | $ | 14,230 | |
| Add: restructuring and impairment charge | | | | -- | | | 13,936 | |
|
|
|
Operating income (excluding restructuring and impairment
charge) | | | $ | 27,797 | | $ | 28,166 | |
|
|
|
| Net sales | | | $ | 248,727 | | $ | 242,823 | |
|
|
|
| Operating margin | | | | 11.2% | | | 5.9% | |
|
|
|
Operating margin (excluding restructuring and impairment
charge) | | | | 11.2% | | | 11.6% | |
|
|
|
| Wholesale Operating Income / Operating Margin | | |
| Wholesale operating income | | | $ | 26,780 | | $ | 11,424 | |
| Add: restructuring and impairment charge | | | | -- | | | 13,936 | |
|
|
|
Wholesale operating income (excluding restructuring and
impairment charge) | | | $ | 26,780 | | $ | 25,360 | |
|
|
|
| Wholesale net sales | | | $ | 156,323 | | $ | 155,641 | |
|
|
|
| Wholesale operating margin | | | | 17.1% | | | 7.3% | |
|
|
|
Wholesale operating margin (excluding restructuring and
impairment charge) | | | | 17.1% | | | 16.3% | |
|
|
|
| EBITDA | | |
| Net income | | | $ | 17,504 | | $ | 8,452 | |
| Add: interest expense (income), net | | | | 1,397 | | | 849 | |
| Add: income tax expense | | | | 10,280 | | | 5,072 | |
| Add: depreciation and amortization | | | | 5,937 | | | 5,604 | |
|
|
|
| EBITDA | | | $ | 35,118 | | $ | 19,977 | |
|
|
|
| Net sales | | | $ | 248,727 | | $ | 242,823 | |
|
|
|
| EBITDA as % of net sales | | | | 14.1% | | | 8.2% | |
|
|
|
| |
| EBITDA | | | $ | 35,118 | | $ | 19,977 | |
| Add: restructuring and impairment charge | | | | -- | | | 13,936 | |
|
|
|
| EBITDA (excluding restructuring and impairment charge) | | | $ | 35,118 | | $ | 33,913 | |
|
|
|
| Net sales | | | $ | 248,727 | | $ | 242,823 | |
|
|
|
EBITDA as % of net sales (excluding restructuring and
impairment charge) | | | | 14.1% | | | 14.0% | |
|
|
|
