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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.

HNI reports $1.8M loss in first quarter

Friday 22 April 2011

Office furniture maker HNI Corp. announced a net loss of $1.8 million for the first quarter on sales of $396.2 million.

The Muscatine, Iowa, company released its earnings report Tuesday for the quarter ended 2 April.

The report indicated sales were up $32.7 million, or 9 percent, over the same quarter last year when the company reported $363.5 million in sales.

The net loss compared with a net loss a year ago of $4.1 million. Net loss per diluted share was 4 cents, or a net loss of 2 cents excluding restructuring charges.

HNI Corp. said office furniture sales were up 10.4 percent in the quarter to $331.1 million. The hearth products division reported sales of $65 million, an increase of 2.4 percent.

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