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Herman Miller Inc. Message Board

  • election00 election00 Sep 16, 2009 5:52 PM Flag

    solid numbers

    ZEELAND, Mich., Sept. 16 /PRNewswire-FirstCall/ -- Herman Miller, Inc., (Nasdaq: MLHR - News) today announced results for its first quarter ended August 29, 2009. Sales in the quarter totaled $324 million, including a partial period of activity from the acquisition of Nemschoff, Inc., which was completed on June 24, 2009. This consolidated total reflects a decline of 32.4% from the same period last year and a modest increase from the fourth quarter of fiscal 2009. Adjusted operating earnings in the quarter were $21.2 million or 6.5% of sales, after excluding charges associated with the company's previously announced restructuring actions and debt tender offer. Including these items, operating earnings in the first quarter were $14.1 million or 4.4% of sales. In the prior year first quarter, the company reported operating earnings of $56.6 million or 11.8% of sales. Adjusted earnings per share in the current period totaled $0.22 after excluding the per-share impact of the restructuring and debt tender offer charges. Including these charges, earnings per share in the quarter were $0.14. This compares to earnings of $0.60 per share in the first quarter of last year.

29.54-1.06(-3.46%)Sep 23 4:00 PMEDT