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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.

Knoll reports 2nd quarter results

Thursday 19 July 2012

Knoll, Inc. today announced results for the second quarter ended June 30, 2012. Net sales were $221.0 million for the quarter, a decrease of 7.4% from the second quarter 2011. Operating profit was $20.8 million, or 9.4% of net sales, a decrease of 10.7% from the second quarter 2011. Net income was $13.1 million during the second quarter of 2012 compared to $13.0 million during the second quarter 2011

"The second quarter played out very much as we had expected," commented Andrew Cogan, CEO. "While sales grew sequentially, lowered levels of government shipments combined with significantly reduced purchases by a single financial services client drove our year-over-year top line decline. Outside of these two areas, commercial sales grew mid-single digits as compared to the prior year quarter. In spite of these declines, we were pleased to deliver strong year-over-year and sequential improvement in our gross margins."

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