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Herman Miller 1st quarter sales up 20% at $458 million

Thursday 22 September 2011

Herman Miller sales increased by more than 20 percent in the most recent quarter, continuing the strong momentum of the last year.

The Zeeland-based Herman Miller yesterday reported sales of $458.1 million for the 1st quarter to 31 August compared to $380.7 million in the same period a year ago.

Herman Miller reported quarterly net income of $24.6 million versus $16.1 million a year earlier.

“We’re off to a great start to the fiscal year,” Chief Executive Officer Brian Walker said. “Despite ongoing volatility in the financial markets and a cautious pace in the broader economy, our business has shown remarkable resilience. Together with the many improvements we’ve made in the business over the past year, our performance this quarter gives us confidence that we are well positioned to face the opportunities and challenges ahead.”

The strong quarterly results come as the office furniture industry continues to rebound from the recession.

The latest outlook from BIFMA, the Business and Institutional Furniture Manufacturer’s Association says the office furniture industry projects North American shipment growth of 17.6 percent for all of 2011, to $9.8 billion. Shipments should grow another 7.5 percent in 2012 to $10.5 billion

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