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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 1st qtr profit falls

Tuesday 30 April 2013

Furniture manufacturer Knoll's net income declined 16% in the first quarter as some expenses rose and prices declined. For the three months ended 31 March 2013 the company said Thursday that it earned $6.1 million, or 13 cents per share, down from $7.3 million, or 15 cents per share, a year earlier. This matched the expectations of analysts. Selling, general and administrative expenses increased to $53.3 million from $47.6 million. Revenue rose 2 percent to $200.6 million from $196.7 million, buoyed by higher sales for its studio division. Wall Street expected revenue of $198.2 million.
Gross margin fell to 31.7% from 32.1% mostly due to a drop in prices.
Sales for the office and coverings units slipped, while double-digit growth in the seating segment was offset by a drop in office systems sales.
Shares of Knoll Inc., which is based in East Greenville, Pa., rose 15 cents to $16.45 in morning trading on Thursday. Its shares have traded in a 52-week range of $11.96 to $18.69.

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