flexsteel industries, inc. and subsidiaries was incorporated in 1929 and is one of the oldest and largest manufacturers, importers and marketers of residential and commercial upholstered and wooden furniture products in the united states. product offerings include a wide variety of upholstered and wood furniture such as sofas, loveseats, chairs, reclining and rocker reclining chairs, swivel rockers, sofa beds, convertible bedding units, occasional tables, desks, dining tables and chairs and bedroom furniture. the company’s products are intended for use in home, office, hotel and other commercial applications. featured as a basic component in most of the upholstered furniture is a unique steel drop-in seat spring from which our name “flexsteel” is derived. the company distributes its products throughout the united states through the company’s sales force and various independent representatives. the company has one active wholly-owned subsidiary: dmi furniture, inc. (“dmi”), which is a