HNI Q2 Profit Declines; Raises Low End Of FY14 Adj. EPS Outlook - Quick Facts

(RTTNews) - HNI Corp. (HNI) Wednesday posted second-quarter net income attributable to the company of $9.7 million or $0.21 per share, up from $11.4 million or $0.25 per share in the same period last year.

On average, four analysts polled by Thomson Reuters expected the company to earn $0.36 per share for the quarter. Analysts' estimates typically exclude special items.

Net sales declined 0.3 percent to $509.14 million from $510.70 million last year, while three analysts expected revenues of $525.10 million.

Looking ahead to the third quarter, the company has forecast adjusted earnings in the range of $0.68 to $0.73 per share and sales to be up 2 to 6percent. Analysts currently expect third-quarter earnings of $0.73 per share.

For the fiscal 2014, the corporation now expects adjusted earnings in the range of $1.75 to $1.85 per share, up from its previous guidance range of $1.70 to $1.85 per share. Analysts currently expect full-year earnings of $1.82 per share.