La-Z-Boy Incorporated announced here today of its operating results that accounted for the fourth fiscal quarter and also the full year that ended on the April 28, 2007. It has been stated speaking to the newsmen that the net sales for the quarter amounted to $406.9 million, down 9.4% compared with the prior-year period. The company has also dispatched earnings per share from continuing operations of $0.16, which in turn take account of a restructuring charge of $0.08 per share that is related to the announced closure and consolidation of facilities over and above a reduction in employment, in conjunction with a gain of $0.14 per share from the sale of various properties.

La-Z-Boy Incorporated is a prominent residential furniture producer, marketing furniture for every room of the home. The La-Z-Boy Upholstery Group companies include Bauhaus, Centurion, England and La-Z-Boy whereas the La-Z-Boy Casegoods Group companies are American Drew, Hammary, Kincaid and Lea. The proprietary distribution network of the corporation is dedicated exclusively for the selling of La-Z-Boy Incorporated products and brands augmenting 340 stand-alone La-Z-Boy Furniture Galleries® stores and 307 La-Z-Boy In-Store Galleries. The La-Z-Boy Furniture Galleries retail network happen to be the largest in North America's largest singlebrand furniture retailer, according to industry trade publication In Furniture.

In a detailed account the facts has been presented so as to maintain the clarity for which the Company as a whole is renowned in the international business climate and from its initiation by means of its productivity and perseverance, in addition to its incessant successes has been held in high esteem. The detailed account thus announced speaks eloquently that for the full year that ended on April 28, 2007, net sales were $1.62 billion, down 4.6% from the previous year. The company has also posted earnings per share from the long-term operations of $0.38 for the whole year.

While being asked by the newsmen Kurt L. Darrow, the President and Chief Executive Officer La-Z-Boy's said: "We continue to operate in an environment marked by extremely difficult retail conditions across the industry and have remained focused on running our operations with efficiency and ensuring our cost structure is in line with our revenue stream. Despite significantly lower volume in both of our wholesale businesses, we maintained our operating margins this quarter, reflecting the disciplines established throughout our business. Additionally, we continued to concentrate on managing our balance sheet by reducing our debt and inventory levels while generating cash. In our retail segment, we are applying the same operating disciplines as we have in our wholesale operations and expect to make incremental progress throughout fiscal 2008 even though the external environment will undoubtedly remain challenging."