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A business consultancy, based in London, England, John Sacks' JSA Consultancy Services provides expert, in-depth, information advice and guidance as to how to exploit successfully the office furniture and interiors markets in Europe, North America, Australasia and Japan.

Knoll Q1 profit falls 77 pct

Thursday 15 April 2010

Office furniture maker Knoll Inc announced a 77% fall in quarterly profit, hit by a decline in office systems sales, and said it expects a recovery in demand in the second half of 2010.
For the first quarter, net income was $2.2 million, or 5 cents a share, compared with $9.5 million, or 21 cents a share a year ago. Excluding items, the company earned 10 cents a share.
Sales fell 18 percent to $175.3 million.
Analysts on average had expected earnings of 13 cents a share, before special items, on revenue of $179.2 million, according to Thomson Reuters I/B/E/S.
Outstanding orders at 31 March was $138.9 million, a decline of 15 percent over the last year, the company said.
Shares of the company closed at $12.49 Thursday on the New York Stock Exchange.

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