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Quotes & Info
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| HOFT > SEC Filings for HOFT > Form 8-K on 2-Apr-2009 | All Recent SEC Filings |
2-Apr-2009
Results of Operations and Financial Condition
On April 2, 2009 the Registrant issued a press release reporting its financial results for fiscal 2009, a copy of which is attached hereto as Exhibit 99.1 and is incorporated herein by reference. In the press release, the Company reports operating income as a percentage of net sales ("operating margin") both including and excluding the impact of:
· restructuring and intangible asset impairment charges;
· a charge related to the December 2007 donation of two showrooms located in High Point, N.C. to a local university.
The operating margin figures excluding the impact of these charges, which are collectively referred to as "restructuring and special charges" in the press release, are "non-GAAP financial measures." The Company provides this information because management believes it is useful to investors in evaluating the Company's ongoing operations.
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