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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.

Herman Miller shares jump on strong 4Q report

Saturday 25 June 2011

Shares of Herman Miller Inc. rose nearly 8 percent on Thursday after the office-furniture maker reported strong fourth-quarter results on rising orders.
The company reported fourth-quarter net income increased four-fold as demand improved for its design-focused and ergonomic products. Revenue rose 37 percent to $441.5 million. Results handily topped analyst forecasts.
Office furniture makers were particularly hard hit during the recession as businesses cut back on big-ticket items, but a turnaround is in the works. The quarter marks the fourth consecutive quarter that Herman Miller, based in Zeeland, Mich., has reported double-digit or higher earnings increases.
Given the sizable fourth-quarter earnings beat, improving operating leverage, robust order growth, and the likelihood that fiscal first-quarter guidance will compare favorably with Street estimates, analysts expect Herman Miller shares to move higher in Thursday's early trading,.
Herman Miller's stock price rose $2.01, or 8.4 percent, to $26.01 in midday trading. The stock has traded between $16.23 and $28.14 over the past 52 weeks.

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