Office Furniture

Bush Industries, Inc.

Jamestown, New York-based Bush Industries <% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE: BSH)") else Response.Write("(NYSE: BSH)") end if %> manufactures ready-to-assemble (RTA) furniture for home and office use. The company is number three among the RTA furniture makers based on revenues, behind privately held Sauder Corp. and O'Sullivan Industries. Bush focuses on home entertainment centers, bedroom furniture, and office furnishings at various price ranges. The company builds easy-to-assemble furniture with simple instructions and maintains a toll-free number to assist customers.

Bush sells its products through a number of distributors and retailers, including many department stores, office superstores and warehouse clubs. In fiscal 1996, Bush had two customers that accounted for 15% and 12% of sales respectively. The company typically maintains a backlog of one to three weeks and consequently has very little forward visibility on sales. In fiscal 1996, 4.4% of the company's sales came from overseas. It has added 1.45 million square feet of manufacturing and warehouse space in the past three years.

Latest Financials

For the second quarter ended June 28, Bush earned $0.36 per share on $72.4 million in revenues versus $0.30 per share on $55.2 million a year ago. For the six months, Bush earned $0.72 per share on $143.3 million in sales versus $0.65 per share on $120 million in sales a year ago.

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