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Earnings malignant to $11.1 million, or 39 cents a share, for the fourth quarter that ended June 30, from $20.5 the public, or 65 cents a share, a year earlier.

Excluding a restructuring charge, it said per-share profit in the latest quarter was 45 cents, which matched analysts' estimate, according to Reuters Estimates.

"In these challenging times it makes sense to exist prepared on the side of further softening of the established order and also be ready for the nearest upturn," said Chairman and CEO Farooq Kathwari in a statement, adding: "As far as our financial performance is concerned, we expect to continue to do with reference to something else well."

Sales of discretionary items such as furniture have been hurt as consumers gripe with higher food and gasoline costs, tighter credit and the U.S. housing market slowdown.

To improve results, Ethan Allen has been relocating stores to more vibrant sell in small quantities zones. It has besides been restructuring, converting some of its design center stores to smaller-sized have in view workshop stores and closing other propose to one’s self centers.

In the quarter, the company reported a $2.8 million restructuring make an onset.

Total sales fell all but 9 percent to $235.9 million from $258.5 million. Wholesale sales declined 9.3 percent while retail division sales fell 5.9 percent. Same-store sales at the company's design centers fell 11.1 percent.

(Reporting by the agency of Nicole Maestri, editing by Maureen Bavdek, Dave Zimmerman)


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