La-Z-Boy posts $5.3 million profit

Sales were down this, but profits were up at La-Z-Boy.

It is the first time the company, a large employer for the Neosho area, has posted a profit in a year:

"We were profitable during the quarter on a sales decline of $84 million, as the operating environment continues to be very difficult," said Kurt Darrow, president and CEO. "This is a direct result of the decisive actions taken and the significant changes made in our cost structure over past year, coupled with the ongoing execution of strategic initiatives that will continue to increase the company's operating efficiencies."

Sales for the quarter - the last quarter of La-Z-Boy's fiscal year - totaled $284.5 million. That's down from $368 million in the quarter ended April 26, 2008.