HNI Corp. (HNI) Misses Q1 EPS by 1c; Guides Q2 EPS Below Expectations

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HNI Corporation Reports Strong Sales And Earnings For First Quarter Fiscal Year 2015

April 22, 2015 5:28 PM EDT

MUSCATINE, Iowa, April 22, 2015 /PRNewswire/ -- HNI Corporation (NYSE: HNI) today announced sales for the first quarter ended April 4, 2015, of $523.5 million and net income of $8.5 million, or $0.19 per diluted share.  Non-GAAP net income per diluted share improved 75 percent from the prior year quarter to $0.21, which excludes restructuring charges, transition costs and prior year gain on sale of assets.

First Quarter Summary Comments

"We are pleased with our very strong sales and earnings for the first quarter.  Performance in our office furniture businesses was outstanding, with double-digit growth in both the... More