Thursday, December 22, 2005

Herman Miller, Inc., Net Earnings Rise 81% in Second Quarter FY2006

Herman Miller, Inc., today announced results for its second quarter ended December 3, 2005. Strong growth continued this quarter, demonstrated by a sales increase of 18.9% and an orders increase of 11.1% from the year-ago period. Operating earnings grew to 10.1% of sales based on efficiency gains in both gross margin and operating expenses. Net earnings were $27.9 million, or $0.40 per share, an increase of 81.2% over net earnings of $15.4 million for the same period in the prior year. The ending cash balance of $149.7 million benefited from robust operating cash flows of $44.2 million. Continues...

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