Herman Miller Q1 Results Top Estimates

(RTTNews) - Office furniture maker Herman Miller, Inc. (MLHR) reported net income for the first quarter of $33.5 million or $0.56 per share, compared to $25.2 million or $0.42 per share for the year-ago quarter.

Net sales for the first quarter rose 10.9% to $565.4 million from $509.7 million a year earlier.

Analysts polled by Thomson Reuters expected the company to earn $0.46 per share on revenue of $554.35 million for the first quarter. Analysts' estimates typically exclude special items.

Looking forward to the second quarter, Herman Miller forecasts net sales of $570 million to $590 million and earnings of $0.52 to $0.56 per share. Analysts currently expect the company to earn $0.51 per share on revenue of $573.60 million for the second quarter.