Furniture Brands International Is Back On Track; Barron's (FBN)

Furniture Brands International

has been battered by the economic recession. The company has not posted an annual profit since 2006. Furniture Brands (

) is one of the largest wholesalers and retailers of home furnishing in the U.S. The company reported its first quarter earnings at $3.5 million. It was the company’s first quarterly profit in two years. The company’s Chief Executive Officer, Ralph Scozzafava told analysts, “We are starting to see the turn we had been hoping to see.” According to Barron’s, the company is likely to earn only two cents a share this year, on sales of around $1.3 billion.