The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Anthony Lebiedzinski - Sidoti & Company, LLC - Analyst
: Good morning, and thank you for taking the questions. And certainly nice to see the sequential improvements and the continued strong balance
sheet. So first, can you just guys just comment on the for the progression of shipments and orders that you saw during the quarter?
Question: Anthony Lebiedzinski - Sidoti & Company, LLC - Analyst
: Got it. Thanks, Paul. And I'm just wondering if you guys saw any notable region or is geographic differences in terms of your sales patterns.
Question: Anthony Lebiedzinski - Sidoti & Company, LLC - Analyst
: Morning.
Question: Anthony Lebiedzinski - Sidoti & Company, LLC - Analyst
: Got you. Okay. Thanks for that. And Jeremy, you said earlier that the you guys expect to exceed the target for cost cuts of the $10 million. So can
you expand on that? And I don't know if there's any -- I don't know if you're prepared to share any additional numbers, but if you could you just
where are you finding opportunities to further streamline the business?
Question: Anthony Lebiedzinski - Sidoti & Company, LLC - Analyst
: Okay, fair. That's fair enough. And then so far as HMI, certainly a nice gross margin there at 19.5%. And this is still obviously a tough operating
environment. So when the business does improve, what would be a reasonable, margin or gross margin that is for HMI, you think once the business
recovers.
Question: Anthony Lebiedzinski - Sidoti & Company, LLC - Analyst
: Got you, right. Yeah, thanks, guys. And my last question before I pass it on to others. So the Labor Day obviously is a big holiday for the home
furniture sector. Certainly realize that we're only a few days away from the holiday, but just wondering what are you hearing from your retail partners
coming out of the holiday in terms of traffic or order patterns or anything like that, if you could share, that would be great. Thank you.
Question: Anthony Lebiedzinski - Sidoti & Company, LLC - Analyst
: Understood. Well, thank you very much and best of luck.
Question: Dave Storms - Stonegate Capital Partners - Analyst
: Morning and thank you for taking my questions.
Question: Dave Storms - Stonegate Capital Partners - Analyst
: Thinking about the outlook and maybe just the duration of the remaining downturn, are there any green shoots. So we should be taking a look at
it seems like backlog is remaining fairly stable. Volumes are coming up in branded sequential gross margin increases. Anything else that you're
kind of keeping your eye on that we should think about call for the next two to four quarters.
Question: Dave Storms - Stonegate Capital Partners - Analyst
: Understood, thank you. And then just turning to income statement, looks like a pretty sizable jump in other income. Is there any more color you
could give us on what caused that jump both sequentially year over year?
Question: Dave Storms - Stonegate Capital Partners - Analyst
: Understood. That's very helpful. Thank you. And then just one more for me. With regards to the cost savings, do you anticipate any corollary
production and maintenance CapEx spending to go along with these cost savings?
Question: Dave Storms - Stonegate Capital Partners - Analyst
: Understood. Thank you for taking my questions and good luck in the third quarter.
Question: Dave Storms - Stonegate Capital Partners - Analyst
: Thanks, Dave.
| 
