About Flexsteel Industries

Flexsteel Industries, Inc. and its subsidiaries operate as a manufacturer, importer, and marketer of residential furniture products in the United States. The company’s product offerings include a wide variety of furniture, such as sofas, loveseats, chairs, reclining rocking chairs, swivel rockers, sofa beds, convertible bedding units, occasional tables, desks, dining tables and chairs, kitchen storage, bedroom furniture, and outdoor furniture. The company distributes its products throughout the United States through its e-commerce channel and direct sales force. The company operates in one reportable segment, furniture products. The company’s furniture products business involves the distribution of manufactured and imported products consisting of a broad line of furniture for the residential market. In 2020, the company substantially completed its exit from the Commercial Office and custom design Hospitality product lines, which served contract markets. During 2021, the company substantially completed its restructuring activities related to the exit of its Vehicle Seating and the remainder of its Hospitality product lines, which also served contract markets. Trademarks and Patents The company owns the United States improvement patents to its Flexsteel guaranteed-for-life Blue Steel Spring – the all-riveted, high-carbon, steel-banded seating platform that gives upholstered and leather furniture the strength and comfort to last a lifetime, as well as patents on convertible beds. Design, Research, and Development Costs The company’s expenditures for design, research, and development costs were approximately $2.9 million in the year ended June 30, 2022. History Flexsteel Industries, Inc. was founded in 1893. The company was incorporated in 1929.