The USA’s sixth largest publicly traded furniture manufacturer, Hooker Furniture, has reported that it understated net income for its fourth quarter ended November 30, 2005 by approximately $658,000 in. The revision is primarily a result of an overstatement of the company's advertising programme costs and group insurance expenses for the 2005 fourth quarter resulting in a combined $1 million of additional pretax income.

Hooker Furniture's revised net sales for the 2005 fourth quarter are $90.2 million and $341.8 million for the year ended November 30, 2005. Net income for the 2005 fourth quarter as revised is $4 million. Hooker Furniture's net income for the year ended November 30, 2005 as revised is $12.5 million.

The company is also revising its 2006 first quarter net sales estimate to a range of 2% lower to 2% higher than its strong first quarter sales in 2005. The revised forecast is based upon better than anticipated shipments thus far in the quarter. The company had previously announced a net sales estimate of 3% to 7% lower than first quarter 2005.