−Removed: Flexsteel Industries, Inc., and Subsidiaries (the “Company”) is one of the largest manufacturers, importers, and marketers of residential furniture products in the United States.
−Removed: Product offerings include a wide variety of furniture such as sofas, loveseats, chairs, reclining rocking chairs, swivel rockers, sofa beds, convertible bedding units, occasional tables, desks, dining tables and chairs, kitchen storage, bedroom furniture, and outdoor furniture.
−Removed: A featured component in most of the upholstered furniture is a unique steel drop-in seat spring from which the name “Flexsteel” is derived.
−Removed: The Company distributes its products throughout the United States through its e-commerce channel and direct sales force.
+Added: Flexsteel Industries, Inc.
+Added: and Subsidiaries (the “Company,” “Flexsteel,” or “Our”) is one of the largest residential furniture manufacturers, importers, and marketers in the U.S.
+Added: Flexsteel addresses different consumer groups through our core brand, Flexsteel, and several category-specific sub-brands:
+Added: Zecliner, Statements, Zen, Perfect Match, and Pulse, all of which have unique value propositions tailored to specific consumer needs.
+Added: We offer a wide assortment of product solutions for different areas within the home including stationary and motion sofas, loveseats, chairs, and sectionals, as well as bedroom furniture, dining tables and chairs, occasional and entertainment tables, and kitchen storage.
+Added: For more than 130 years, Flexsteel has strived to create strong consumer value with unmatched quality, comfort, and durability, backed by innovation and highlighted by its patented Blue Steel Spring technology, designed to deliver lasting comfort and support.
+Added: Today, Flexsteel products are available nationwide through retail partners and online channels.
The Company operates in one reportable segment, furniture products.
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This ongoing manufacturing operation is integral to the Company’s product offerings and distribution strategy by offering smaller and more frequent product runs of a wider product selection.
−Removed: The Company identifies and eliminates manufacturing inefficiencies and adjusts manufacturing schedules on a daily basis to meet customer requirements.
+Added: The Company identifies and eliminates manufacturing inefficiencies and adjusts manufacturing schedules frequently to meet customer requirements.
The Company has established relationships with key suppliers to ensure prompt delivery of quality component parts.
The Company’s production includes the use of selected component parts sourced offshore to enhance value in the marketplace.
−Removed: The Company integrates manufactured products with finished products acquired from offshore suppliers who can meet quality specifications and scheduling requirements.
−Removed: The Company will continue to pursue and refine this blended strategy, offering customers manufactured goods, products manufactured utilizing imported component parts, and ready-to-deliver imported products.
+Added: The Company integrates manufactured products with finished products acquired from offshore suppliers who can meet quality specifications and lead-time requirements.
+Added: The Company will continue to pursue and refine this blended product offering and supply chain strategy, offering customers the requisite amount of choice of made-to-order manufactured goods, and ready-to-deliver imported products.
This blended focus on products allows the Company to provide a wide range of price points, styles and product categories to satisfy customer requirements.
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however, certain competitors have substantially greater sales volumes than the Company.
−Removed: The Company’s products compete based on style, quality, comfort, price, delivery, service and durability.
−Removed: The Company believes its patented, guaranteed-for-life Blue Steel Spring, manufacturing and sourcing capabilities, facility locations, commitment to customers, product quality, delivery, service, value and experienced production, sales, marketing and management teams, are some of its competitive advantages.
−Removed: The Company’s business is not considered seasonal.
+Added: The Company’s products compete based on style, quality, comfort, functionality, price, delivery, service and durability.
+Added: The Company believes its patented, guaranteed-for-life Blue Steel Spring,
+Added: manufacturing and sourcing capabilities, facility locations, commitment to customers, product quality, consumer insights, innovation, delivery, service, value and experienced production, sales, marketing and management teams, are some of its competitive advantages.
+Added: The Company’s overall business is not considered materially seasonal.
Foreign Operations
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however, we could experience supply-chain disruptions at any time, which could impact the availability of materials.
+Added: Artificial Intelligence ("AI")
+Added: The Company is leveraging AI to strengthen the efficiency and effectiveness of its operational execution.
Industry Factors
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Trademarks and Patents
−Removed: The Company owns the United States improvement patents to its Flexsteel guaranteed-for-life Blue Steel Spring – the all-riveted, high-carbon, steel-banded seating platform that gives upholstered and leather furniture the strength and comfort to last a lifetime, as well as patents on convertible beds.
−Removed: The Company owns other patents and owns certain trademarks in connection with its furniture.
−Removed: It is not common in the furniture industry to obtain a patent for furniture design.
−Removed: If a particular design of a furniture manufacturer is well accepted in the marketplace, it is common for other manufacturers to imitate the same design without recourse by the furniture manufacturer who initially introduced the design.
−Removed: Furniture products are designed by the Company’s own design staff and through the services of third-party designers.
−Removed: New models and designs of furniture, as well as new fabrics, are introduced continuously.
+Added: The Company relies on patents, trademarks, trade secrets, proprietary know-how and other intellectual property in connection with its products and brands, including improvement patents on its Blue Steel Spring, and registered trademarks.
+Added: In addition, our furniture products are designed by the Company's own design staff and through the services of third-party designers.
+Added: New models and designs
+Added: of furniture, as well as new fabrics, are introduced continuously.
+Added: We evaluate each new model or design for patentability and file patent applications for the United States on inventions, designs and improvements that we deem valuable, but these patents do expire at various times.
The Company had approximately 1,200 employees on June 30, 2026, including 6 employees who are covered by collective bargaining agreements.
−Removed: Approximately all of the Company's employees are full-time.
+Added: Substantially all of the Company's employees are full-time.
Management believes it has good relations with employees.
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Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.