Exhibit 99.2
Stanley Furniture Company, Inc.
Quarterly Income Statement Analysis
(In Thousands)
(unaudited)
2003 2004
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1st Qtr 2nd Qtr 3rd Qtr 4th Qtr Year 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr Year
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Net Sales ................ $62,348 $62,503 $66,360 $74,052 $265,263 $71,520 $72,223 $78,803 $83,269 $305,815
Cost of Sales ............ 47,726 47,938 50,719 57,027 203,410 54,299 53,977 59,389 62,509 230,174
Gross Profit ........... 14,622 14,565 15,641 17,025 61,853 17,221 18,246 19,414 20,760 75,641
% of Net Sales ........ 23.5% 23.3% 23.6% 23.0% 23.3% 24.1% 25.3% 24.6% 24.9% 24.7%
S,G&A .................... 8,513 8,400 9,170 9,554 35,637 9,417 9,539 10,636 11,361 40,953
% of Net Sales ......... 13.7% 13.4% 13.8% 12.9% 13.4% 13.2% 13.2% 13.5% 13.6% 13.4%
Operating Income ....... 6,109 6,165 6,471 7,471 26,216 7,804 8,707 8,778 9,399 34,688
% of Net Sales ........ 9.8% 9.9% 9.8% 10.1% 9.9% 10.9% 12.1% 11.1% 11.3% 11.3%
Other Income, net ........ (42) (47) (61) (53) (203) (53) (42) (50) (43) (188)
EBIT ................... 6,151 6,212 6,532 7,524 26,419 7,857 8,749 8,828 9,442 34,876
Interest Expense ......... 711 660 698 679 2,748 626 577 584 556 2,343
EBT .................... 5,440 5,552 5,834 6,845 23,671 7,231 8,172 8,244 8,886 32,533
Income Tax Expense ....... 1,974 2,016 2,118 2,413 8,521 2,624 2,961 2,959 3,200 11,744
Net income ............... $ 3,466 $ 3,536 $ 3,716 $ 4,432 $ 15,150 $ 4,607 $ 5,211 $ 5,285 $ 5,686 $ 20,789
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Diluted Earnings Per Share 0.52 0.53 0.59 0.70 2.34 0.71 0.80 0.81 0.86 3.17
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Weighted Average Shares .. 6,679 6,628 6,318 6,322 6,462 6,449 6,515 6,550 6,642 6,549
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