Ethan Allen Interiors Inc. (NYSE:ETD) Q3 2023 Earnings Conference Call April 26, 2023 5:00 PM ET
Company Participants
Farooq Kathwari - Chairman, President, Chief Executive Officer
Matt McNulty - Senior Vice President, Chief Financial Officer, Treasurer
Conference Call Participants
Cristina Fernández - Telsey Advisory Group
Zach Donnelly - KeyBanc Capital Markets
Operator
Good afternoon, and welcome to the Ethan Allen Fiscal 2023 Third Quarter Analyst Conference Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions] Please note this conference is being recorded.
It is now my pleasure to introduce your host, Matt McNulty, Senior Vice President, Chief Financial Officer and Treasurer. Thank you. You may begin.
Matt McNulty
Thank you, operator. Good afternoon and thank you for joining us today to discuss Ethan Allen's Fiscal 2023 Third Quarter Results. With me today is Farooq Kathwari, our Chairman, President and CEO. Mr. Kathwari will open and close our prepared remarks, while I will speak to our financial performance midway through. After our prepared remarks, we will then open the call for your questions.
Before we begin, I'd like to remind the audience that this call is being recorded and webcast live under the News and Events tab on the Investor Relations page of our ethanallen.com website. There you will also find a copy of our Press Release, which contains reconciliations of non-GAAP financial measures referred to in the release and on this call. A replay of today's call will also be made available via phone and on our website.
Our comments today may include forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially. Please refer to our SEC filings for a complete review of those risks. The company assumes no obligation to update or revise any forward-looking matters discussed during the call.
With that, I am pleased to now turn the call over to Mr. Kathwari.
Farooq Kathwari
Thank you, Matt. We are pleased with our strong financial performance for the quarter ended March 31 2023, especially compared to strong results for the previous period. Matt will review in detail our financials for quarter ended March 31. We had sales of $186.3 million, strong gross and operating margins of 59.9% and 15.5% respectively.
Our diluted earnings of $0.86 remains strong and importantly, we ended the quarter with cash of $156.2 million and no debt. Also pleased yesterday we announced that our regular dividend – cash dividend has been increased by 13% to $0.36.