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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 Corporation reports strong 2nd quarter earnings

Wednesday 16 July 2014

HNI Corporation have announced sales for the second quarter ended June 28, 2014, of $509.1 million and net income of $9.7 million, or $0.21 per diluted share for the quarter. Non-GAAP net income per diluted share improved 39 percent from the prior year quarter to $0.39, which excludes restructuring and impairment charges, transition costs and the gain on sale of air emission credits.
"We are pleased with our performance and profit growth over prior year. Continued strong hearth business sales growth, overall operational execution and prior year investment returns drove second quarter profit improvement. As expected, the sales increase in our supplies-driven business was offset by a decline in contract office furniture due to strong year over year comparisons. Office furniture businesses generated strong profit growth despite a sales decrease. Our hearth business delivered significant sales and profit growth in both new construction and remodel/retrofit channels," said Stan Askren, HNI Corporation Chairman, President and Chief Executive Officer.

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