Ethan Allen Shares Surge As It Swings To Profit

NEW YORK -- Home-furnishings retailer Ethan Allen Interiors Inc. shares surged 12% in premarket trading on Tuesday after the home furnishings retailer swung to a better-than-expected quarterly profit. Net income in the quarter ended December 31 was $14.7 million or 51 cents a share, compared with a loss of $3.3 million or 12 cents, a year earlier. Excluding items, profit was 19 cents a share, above the 9-cent average estimate of analysts surveyed by FactSet. Sales rose 21% to $173.3 million. Copyright © 2011 MarketWatch, Inc.