Herman Miller (MLHR) Tops Q4 EPS by 9c, Sales Miss

Herman Miller (NASDAQ: MLHR) reported Q4 EPS of $0.64, $0.09 better than the analyst estimate of $0.55. Revenue for the quarter came in at $577.2 million versus the consensus estimate of $583.65 million.

Brian Walker, Chief Executive Officer, stated, "While order levels across our contract businesses remained mixed this quarter, we were pleased to see continued net sales and order acceleration within our Consumer business segment. This growth reflects improved momentum in all areas of this segment and highlights the opportunity we see to leverage growth through our multi-channel business strategy. Better than expected gross margins and well-managed operating expenses combined to deliver adjusted earnings per share above the expectations that we provided at the start of the quarter and reflected adjusted earnings growth of 14% over the same quarter last year. As a result of strong cash flow generation and a well-positioned balance sheet, the Board of Directors approved an increase in our quarterly dividend payout - an action that reflects the confidence of the Board and our leadership team in the power of our long-term strategy."

For earnings history and earnings-related data on Herman Miller (MLHR) click here.

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