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DANBURY, CT, Nov 25, 2015 - (ACN Newswire) - Ethan Allen Interiors Inc. ("Ethan Allen" or the "Company") (NYSE: ETH) today announced that, based on the preliminary vote count provided by its proxy solicitor following the Company's 2015 Annual Meeting of Stockholders, Ethan Allen stockholders have overwhelmingly voted to elect ALL of Ethan Allen's director nominees: James B. Carlson, Clinton A. Clark, John J. Dooner, Jr., Domenick J. Esposito, M. Farooq Kathwari, James W. Schmotter and Tara I. Stacom.
Commenting on the preliminary results, Ethan Allen issued the following statement:
The Ethan Allen Board and management team sincerely thank our stockholders for their support and the valuable insights they have offered throughout this process. We are committed to maintaining an open dialogue with all of our stockholders, and remain confident in our ability to generate near- and long-term value creation for all Ethan Allen stockholders.
The results of the Annual Meeting confirm the confidence our stockholders have in our transformation strategy and vision for growth and underscore their recognition of the strength and expertise of our Board and management team to create compelling opportunities for continued performance.
With the Annual Meeting behind us, we look forward to continuing to execute on our transformation strategy, which we expect will generate in excess of $1 billion in sales supported by our well-positioned retail and manufacturing footprint, completion of our phase 3 and phase 4 initiatives and enhanced marketing and e-commerce strategies to continue driving value for all Ethan Allen stockholders.
The preliminary voting also indicated that stockholders approved all of the other proposals submitted for a vote at the Annual Meeting.
Final results of the election will be published once they are certified by the independent inspector of elections following the customary review period.
About Ethan Allen
Ethan Allen Interiors Inc. (ETH) is a leading interior design Company and manufacturer and retailer of quality home furnishings. The Company offers complimentary interior design service to its clients and sells a full range of furniture products and decorative accessories through ethanallen.com and a network of approximately 300 Design Centers in the United States and abroad. Ethan Allen owns and operates eight manufacturing facilities including five manufacturing plants and one sawmill in the United States plus one plant each in Mexico and Honduras. Approximately seventy percent of its products are made in its North American plants. For more information on Ethan Allen's products and services, visit ethanallen.com.
Forward Looking Statements
This press release and related discussions should be read in conjunction with the Company's Annual Report on Form 10-K for the year ended June 30, 2015 (the "2015 Form 10-K") and other reports filed with the Securities and Exchange Commission. This press release and related discussions contain forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include statements about such matters as: our capital structure; future or targeted operational and financial performance; liquidity, capital and debt levels; strategic plans; transformation initiatives; the pending proxy contest, the impacts thereof and other possible changes in the composition of the Company's board of directors; any challenges to the composition of the board or results of election of directors; stock repurchase and dividend plans; our intent to secure debt or other forms of financing; demand for our products; our position in markets we serve; and regional and global economic and industry market conditions and changes therein. Such forward-looking statements reflect management's current expectations concerning future events and results of the Company, and are subject to various assumptions, risks and uncertainties including specifically, and without limitation, those set forth in Part I, Item 1A "Risk Factors" of the 2015 Form 10-K. Accordingly, actual future events or results could differ materially from those contemplated by the forward-looking statements. The Company assumes no obligation to update or provide revision to any forward-looking statement at any time for any reason.
Contact:
Ethan Allen Interiors Inc.
Investor / Media Contact:
Corey Whitely
Executive Vice President, Administration
Chief Financial Officer and Treasurer
cwhitely@ethanalleninc.com
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This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Ethan Allen Interiors Inc. via Globenewswire
Topic: Press release summary
Source: Ethan Allen Interiors Inc.
https://www.acnnewswire.com
From the Asia Corporate News Network
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