Welcome to JSA Consultancy Services

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 announces 170% Q4 profit growth on strong demand

Friday 4 February 2011

Furniture designer and manufacturer Knoll grew its net income by 170% during the fourth quarter, helped by a recovering economy which led to the company\'s highest level of outstanding orders in more than two years, it said Friday.
For the fourth quarter, the Pennsylvania-based company, which sells office and residential furniture, reported net income of $10.8 million or $0.23 per share. This is up from $4.0 million, or $0.9 per share, in the prior year period.
Excluding restructuring charges and other one-time items, the company\'s earnings rose 86% to $0.23 per share, versus $0.14 per share a year earlier.
Revenues rose 30% during the fourth quarter to $239.8 million, reflecting increased volume across all of its product categories and geographies, the company said.
During the quarter, sales from office systems furniture saw double digit growth, while seating had the largest growth rate on sales of the company\'s \"Generation by Knoll\" chair.
Backlog of unfilled orders at quarter-end was $196.6 million, representing a 29% increase over the prior year period.
\"The combination of improved economic conditions and our investments in innovative new designs drove better than industry growth and the highest operating margins and backlog since the end of 2008,\" said CEO Andrew Cogan.
On the back of its strong results, Knoll increased its quarterly dividend during the fourth quarter from $0.02 per share to $0.06 per share.
For the full year 2010, the company posted earnings per share of $0.61 on sales of $809.5 million.
Knoll, through a network of more than 300 dealerships and 100 showrooms across North America and Europe, sells office and home furniture. It operates four manufacturing sites in North America and has plants in Foligno and Graffignana, Italy.

Subscribe to our News Page

Enter your email here and we will tell you when this page is updated.

 

 

moreLatest News

Wednesday 21 February 2018 Takkt AG acquires Brittish Equip4Work

Takkt AG has acquired 100 percent of the shares of Equip4Work Ltd. Signing and closing of th

Tuesday 20 February 2018 Steelcase survey reveals informal space trend

A recent study by office furniture vendor Steelcase has shed some light on what people really wan

Tuesday 20 February 2018 Merger of Holmris and B8 – New Holmris B8 in European Top 10

Holmris and B8 have signed an agreement to merge the two companies. The merger of the two large o

Thursday 15 February 2018 Haworth 2017 sales surpass $2B

HOLLAND, MI - Haworth, Inc. had a good 2017. The Holland office furniture-maker reported sales of

Contact Us

JSA Consultancy Services
4-5 Gray’s Inn Square, Gray’s Inn,
London, WC1R 5AH, England


+44 (0) 20 7688 1928