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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 Corp. announces 4th quarter and year-end results

Wednesday 8 February 2012

HNI Corp. today announced sales for the fourth quarter ended Dec. 31, 2011, of $500.3 million, a 7 percent increase from the prior year quarter, and income from continuing operations of $18.0 million, a 43 percent increase from prior year quarter. Net income per diluted share from continuing operations for the quarter was $0.40 or $0.41 on a non-GAAP basis when excluding restructuring and transition costs and non-operating gains. For fiscal year 2011, the Corporation reported sales of $1.8 billion, a 9 percent increase from prior year, and income from continuing operations of $45.7 million, a 54 percent increase from prior year. Net income per diluted share from continuing operations for the year was $1.01 or $1.05 on a non-GAAP basis when excluding restructuring and transition costs and non-operating gains.
“We are pleased with our strong execution and solid profit improvement for the fourth quarter and full year 2011. Our growth investments delivered top-line improvement across all businesses in the quarter, and outstanding working capital results drove significant cash generation. Office furniture sales growth was led by strong performance in our contract and international businesses. Hearth sales benefited from improved conditions in new home construction and high energy prices.
"We enter 2012 financially strong and with positive momentum across all of our businesses. We are aggressively investing for growth, competitively well positioned within our markets, and delivering profitable growth," said Stan Askren, HNI Corp. chairman, president and chief executive

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