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 3rd quarter results to 1 March 2014 - Broad-Based Order Growth

Thursday 20 March 2014

Herman Miller, Inc. today announced results for its 3rd quarter ended March 1, 2014. Net sales in the quarter totalled $455.9 million, an increase of 7.7% from the same quarter last fiscal year. New orders in the third quarter of $464.0 million were 21.4% above the prior year level, reflecting broad-based growth across each of the company's major business units and geographic regions.
The company estimates its most recent price increase, which became effective on February 3, 2014, had the effect of accelerating approximately $22 million of orders that would have otherwise been entered in the fourth quarter of fiscal 2014. On an organic basis, which adjusts for this order acceleration as well as acquisitions, divestitures, and foreign currency translation, sales and orders in the third quarter increased 4.2% and 11.1%, respectively, from the same quarter last fiscal year.
Herman Miller reported net earnings of $0.33 per share on a diluted basis in the third quarter. This compares to diluted earnings per share of $0.28 in the same quarter last fiscal year. Excluding restructuring expenses of $1.1 million recognized in the current period, adjusted diluted earnings per share in the third quarter totaled $0.34. This compares to adjusted earnings of $0.32 per share in the third quarter of fiscal 2013.
Brian Walker, Chief Executive Officer, stated, "The clear highlight in our results this quarter is the strong order growth across each of our business segments. Particularly encouraging is the fact that this improvement extended into areas that for some time have been headwinds to growth, including the U.S. federal government and key markets within EMEA and Asia. While it's too early to call these improvements sustainable, they certainly increase our optimism. In short, the business fired on all cylinders this quarter, and although uncertainty remains in the global economic and political picture, we feel good about our momentum and direction.”

Subscribe to our News Page

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



moreLatest News

Wednesday 21 February 2018 Takkt AG acquires Brittish Equip4Work

Takkt AG has acquired 100 percent of the shares of Equip4Work Ltd. Signing and closing of th

Tuesday 20 February 2018 Steelcase survey reveals informal space trend

A recent study by office furniture vendor Steelcase has shed some light on what people really wan

Tuesday 20 February 2018 Merger of Holmris and B8 – New Holmris B8 in European Top 10

Holmris and B8 have signed an agreement to merge the two companies. The merger of the two large o

Thursday 15 February 2018 Haworth 2017 sales surpass $2B

HOLLAND, MI - Haworth, Inc. had a good 2017. The Holland office furniture-maker reported sales of

Contact Us

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

+44 (0) 20 7688 1928