Welcome to JSA Consultancy Services

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 announces lower 3rd quarter orders and sales but increased profits

Thursday 21 March 2013

Herman Miller reported Wednesday a growth of 23.1% in its adjusted third-quarter earnings on sales of $423.5 million in the quarter for the 2013 fiscal year.

Net sales were up 5.9 % from the same quarter last fiscal year.

It also reported third-quarter diluted earnings of 28 cents per share compared to 26 cents per share for the same period last year, the company said in a news release.

“Our sales growth this quarter, combined with strong gross margins, helped drive a solid improvement in adjusted earnings from a year ago,” Herman Miller CEO Brian Walker said.

“While we are pleased with the overall results, net sales and orders fell short of our expectations. The shortfall was primarily driven by the difficult environment in key economies outside the U.S. and declines in business with the U.S. federal government, including within the healthcare sector,” he said. “We did, however, offset these negative factors with year-over-year growth in the balance of our North American business.”

New orders were $382.2 million in the third quarter — up 6 % from the same period last year.

Net sales decreased 4.1 % from the second quarter of the current fiscal year, while orders declined 19.7 % during the same period, the company said.

Subscribe to our News Page

Enter your email here and we will tell you when this page is updated.

 

 

moreLatest News

Wednesday 20 June 2018 Steelcase Reports First Quarter Fiscal 2019 Results

- Strong order growth of 6 percent in the Americas and 7 percent in EMEA
- EMEA posts sign

Friday 15 June 2018 Estel in Asia con Aurora Group

L’italiana Estel ha firmato nei giorni scorsi un accordo pluriennale con il gruppo asiatico

Wednesday 13 June 2018 Walmart could be selling furniture knockoffs

Office furniture making giant Herman Miller believes Walmart could be selling cheaper knockoff ve

Monday 11 June 2018 Chandler to Lead Workplace Design Group Fourfront

Gary Chandler has been named chief executive of the FourFront Group, a business operating through

Contact Us

JSA Consultancy Services
4-5 Gray’s Inn Square, Gray’s Inn,
London, WC1R 5AH, England


+44 (0) 20 7688 1928