Herman Miller Q3 Profit Tops Estimate; Outlook Weak

(RTTNews) - Office furniture maker Herman Miller, Inc. (MLHR) reported net income for the third quarter of $21.0 million or $0.35 per share, compared to $19.4 million or $0.33 per share for the year-ago quarter.

Excluding items, adjusted earnings per share for the third quarter increased to $0.37 from $0.34 in the prior year quarter.

Net sales for the third quarter rose 13.3% to $516.4 million from $455.9 million a year ago.

Analysts polled by Thomson Reuters expected the company to earn $0.34 per share on revenue of $515.57 million for the third quarter. Analysts' estimates typically excludes special items.

Looking forward to the fourth quarter, Herman Miller forecasts net sales of $530 million to $560 million and earnings per share of $0.39 to $0.43. Analysts currently expect the company to earn $0.47 per share on revenue of $554.30 million for the fourth quarter.