La-Z-Boy Q2 Profit Tops Estimate; Boosts Dividend

(RTTNews) - La-Z-Boy Inc. (LZB) reported net income for the second quarter of $19.5 million or $0.37 per share, compared to $16.7 million or $0.31 per share for the year-ago quarter.

Income from continuing operations for the second quarter was $19.2 million or $0.36 per share, compared to $17.2 million or $0.32 per share in the prior year quarter.

Excluding items, adjusted income from continuing operations per share was $0.36 in the second quarter of fiscal 2015, compared to $0.31 in the second quarter of fiscal 2014.

Consolidated sales for the second quarter increased 3.8% to 365.60 million from $352.27 million a year ago.

Analysts polled by Thomson Reuters expected the company to earn $0.34 per share on revenue of $375.68 million for the second quarter. Analysts' estimates typically exclude special items.

The company also said its Board of Directors has increased the company's regular quarterly dividend to shareholders by 33% to $0.08 per share, payable on December 10 to shareholders of record as of November 28.