US office furniture maker claims that its policy to diversify into emerging markets in the US and internationally is paying dividends. This is backed up by sales increasing 7 percent and earnings by 24 percent during the most recent quarter, exceeding the company's own expectations.

Sales for the fourth quarter of the 2008 fiscal year were $519.1 million, which compares to $485.3 million in the same period a year earlier. North American sales grew a solid 6.6 percent as the office furniture industry is predicted to decline, while international sales increased 22.8 percent from last year.

Net income for the quarter that ended May 31 totalled $39.5 million, up 24.6 percent from the $31.7 million a year ago.

"Our strategy to diversify into new and emerging markets, both domestically and internationally, is gaining traction. This is evident both in terms of our top-line growth and the breadth of innovative solutions that we are launching in each of our business segments," President and CEO Brian Walker said.