Brief: Stanley Furniture sees Q4 sales up more than 15 pct

HG Holdings

09/01/2015 13:28

Jan 9 (Reuters) - Stanley Furniture Company Inc  STLY.O : 
 * Pre-announces strong sales growth, operating profitability and prior period 
   adjustments 
 * Sees Q4 sales up more than 15 percent 
 * Says expects to report fourth quarter sales growth from continuing operations 
   of more than 15% year-over-year 
 * Expects to report growth in the low single digits for total year 2014 
 * Says management identified an error in connection with the accounting for the 
   deferred compensation liability 
 * Says does not believe that the error was material to any of the company's 
   previously filed financial statements 
 * Stanley furniture company-correcting cumulative amount of error would be 
   material to expected fiscal 2014 consolidated financial statements 
 * In 2015,co expects to "continue to maintain a healthy balance sheet, grow 
   revenues, expand margins and generate positive net income" 
 * Stanley furniture company-will revise previously-issued consolidated 
   financial statements, commencing with its form 10-k for year ended December 
   31, 2014 
 * Stanley furniture company- determined that material weakness in internal 
   control over financial reporting existed related to accounting for the plan 
 
 * Source text for Eikon  ID:nBw2LSlz0a  
 
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