St. Louis, MO - Furniture Brands International, Inc. has determined that it is unable to file its Quarterly Report on Form 10-Q in a timely manner for the quarter ended Sept. 28, 2013 and that it does not expect to be able to file the Form 10-Q within the five-day extension permitted by the rules of the United States Securities and Exchange Commission (SEC).
As reported in the company's Current Report on Form 8-K filed with the SEC on Sept. 10, 2013, the company and its direct and indirect domestic subsidiaries filed voluntary petitions seeking relief under Chapter 11 of Title 11 of the United States Code in the United States Bankruptcy Court for the District of Delaware on Sept. 9, 2013. Due to the demands associated with the bankruptcy filing and related activities, including a proposed sale of substantially all of the company's assets under Section 363 of the Bankruptcy Code, the company has been unable to complete the preparation of the Form 10-Q.
HNI Corporation
Muscatine, IA - HNI Corp. announced that net sales for the third quarter of fiscal 2013 increased 2.7 percent, or $14.9 million, to $565.7 million when compared to the third quarter of fiscal 2012. Third quarter 2013 net sales for the hearth products segment increased 19.8 percent, or $16.4 million, to $99.5 million from $83.1 million for the same quarter last year. The increase was driven by an increase in both the new construction channel due to housing market recovery and the remodel-retrofit channel due to strong remodeling activity.
Net sales for the first nine months of 2013 increased 18.4 percent, or $39.0 million to $250.5 million compared to $211.5 million for the same period in 2012. Operating profit for the first nine months of 2013 increased $12.6 million to $23.7 million compared to $11.1 million for the same period in 2012. The year-to-date increase in sales and operating profit was driven by the same drivers experienced in the current quarter.
