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DUBUQUE, Iowa - Flexsteel Industries, Inc. (NASDAQ:FLXS), a furniture manufacturer with a market capitalization of $227.55 million and currently trading at $42.57, announced Thursday that Thomas "Tom" M. Levine plans to retire from the company’s board of directors following the December 2025 board meeting, concluding a 15-year tenure with the furniture manufacturer. According to InvestingPro analysis, the company appears undervalued based on its Fair Value estimates.
Levine, who has served as Chair of the Board since 2018, joined Flexsteel’s board in December 2010. During his time with the company, he also held positions as Chair of the Audit & Ethics Committee from 2016 to 2018 and served as a committee member for six years.
"I’ve enjoyed serving on Flexsteel’s board of directors for the last 15 years," Levine said in a press release statement. "My retirement is not a result of any concerns I have with the board or management, but rather a decision to spend more time with my family and on other personal interests."
Following Levine’s departure, the board will be reduced from eight to seven directors. Jeanne McGovern, who joined the board in 2022, will assume the role of Chair. McGovern currently serves as Audit and Ethics Committee Chair and is a member of the Nominating and Governance Committee.
Flexsteel President and CEO Derek Schmidt acknowledged Levine’s contributions, noting his "extensive background in general management and legal matters" had been "invaluable assets" to the company.
Flexsteel Industries is one of the largest manufacturers, importers, and marketers of residential furniture products in the United States, distributing its products through e-commerce channels and a direct sales force. The company maintains a moderate debt level and operates with a P/E ratio of 12.1. For detailed analysis and additional insights, investors can access the comprehensive Pro Research Report available on InvestingPro, which covers over 1,400 US equities with expert analysis and actionable intelligence.
In other recent news, Flexsteel Industries reported its fourth-quarter 2025 financial results, significantly surpassing market expectations. The company achieved an earnings per share (EPS) of $1.40, which was 66.67% higher than the projected $0.84. Additionally, Flexsteel’s revenue reached $114.6 million, exceeding the anticipated $111.93 million. These results demonstrate a strong performance for the quarter. Flexsteel also announced a quarterly dividend of $0.20 per share, marking its 335th consecutive dividend payout. This tradition of consistent dividend payments dates back to 1938. The company’s commitment to returning value to shareholders remains evident through this announcement. These recent developments highlight Flexsteel’s robust financial health and ongoing dedication to shareholder returns.
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