Leon's Furniture Ltd. reported unaudited consolidated earnings results for third quarter and nine months ended September 30, 2013. For the quarter, the company's revenue was $528,602,000 compared to $174,175,000 for the same period of last year. Operating profit was $36,131,000 compared to $16,945,000 for the same period of last year. Net income before income tax was $29,347,000 compared to $17,734,000 for the same period of last year. Net income was $21,283,000 compared to $13,058,000 for the same period of last year. Diluted EPS was $0.27 compared to $0.18 for the same period of last year. Total Leon's system wide sales were $628,619,000 including $100,017,000 of franchise sales ($223,680,000 including $49,505,000 franchise sales in 2012). Cash flow provided by operations was $59,049,000 against $3,159,000 a year ago. Purchase of property, plant and equipment was $4,577,000 against $3,733,000 a year ago.

For the nine months, the company's revenue was $1,171,619,000 compared to $493,701,000 for the same period of last year. Operating profit was $68,816,000 compared to $39,497,000 for the same period of last year. Net income before income tax was $55,503,000 compared to $41,594,000 for the same period of last year. Net income was $41,152,000 compared to $30,661,000 for the same period of last year. Diluted EPS was $0.54 compared to $0.42 for the same period of last year. Cash provided by operating activities was $95,593,000 against $24,978,000 a year ago. Purchase of property, plant and equipment was $6,637,000 against $14,219,000 a year ago. Purchase of intangible assets was $2,968,000 against $9,000 a year ago. Total Leon's system wide sales were $1,405,555,000 including $233,936,000 of franchise sales ($632,053,000 including $138,352,000 of franchise sales in 2012).

The company announced that the Board of Directors have declared a quarterly dividend of 10 cents per common share payable on the 6th day of January 2014 to shareholders of record at the close of business on the 6th day of December 2013.

In addition, the annual dividend on the convertible non-voting preferred shares of 20 cents will be payable on January 6, 2014 to the shareholders of record at the close of business on December 6, 2013.

The company announced that effective December 31, 2013, Dr. Joseph Leon will retire as a director of the company. He will be replaced by Mr. Joseph Michael Leon.