The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: patron_anejo_por_favor who wrote (136586)	7/26/2008 11:22:55 AM
From: Smiling Bob	Read Replies (1) of 306849

ETH will eventually lose the "e" in p/e. You'd also expect them to be trading closer to recession levels pre 1995. Most companies are still long out of touch as to the depth of the slowdown. Too many still anticipating that oft promised "V" bottom. Or another one of those 2 qtr textbook recessions followed by 10 years of Sodom and Gomorrah. Without delving into 10ks, I'd guess they've been adding production and retailing capacity over the past 5-10 years that will become a drain on numbers over the next 1-10 years while they await the next "upturn." --- Sales in Ethan Allen design center stores open at least one year, a key retail metric known as same-store sales, fell 11.1 percent during the quarter. Net delivered sales in the Danbury, Conn.-based company's retail division fell 6 percent to $176.5 million, while wholesale sales fell 9 percent t $147.7 million. For the fiscal year, net income fell 16 percent to $58.1 million, or $1.97 per share, from $69.2 million, or $2.15 per share last year. Revenue fell 3 percent to $980 million from $100.5 million last year. In terms of fiscal 2009, Farooq Kathwari, company chairman and chief executive, said, "In these challenging times it makes sense to be prepared for further softening of the economy and also be ready for the next upturn."

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