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HNI posts 1Q profit

MUSCATINE, Iowa (AP) _ HNI Corp. (HNI) on Wednesday reported first-quarter profit of $4.8 million.

The Muscatine, Iowa-based company said it had profit of 11 cents per share. Earnings, adjusted for restructuring costs and non-recurring costs, came to 26 cents per share.

The maker of office furniture and fireplaces posted revenue of $477.7 million in the period.

For the current quarter ending in July, HNI expects its per-share earnings to range from 65 cents to 72 cents.

The company expects full-year earnings in the range of $2.80 to $3.10 per share.

HNI shares have declined 16 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $46.73, an increase of 13 percent in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on HNI at https://www.zacks.com/ap/HNI


Keywords: HNI, Earnings Report