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09.02 10:41:02

HNI reports successful quarter - USA

HNI  has announced sales for the fourth quarter ended December 31, 2011, of $500.3 million, a 7 per cent increase from the prior year quarter. The furniture maker said that income from continuing operations was $18.0 million, a 43 percent increase from prior year quarter.


"We are pleased with our strong execution and solid profit improvement for the fourth quarter and full year 2011. Our growth investments delivered top-line improvement across all businesses in the quarter, and outstanding working capital results drove significant cash generation. Office furniture sales growth was led by strong performance in our contract and international businesses. Hearth sales benefited from improved conditions in new home construction and high energy prices.


"We enter 2012 financially strong and with positive momentum across all of our businesses. We are aggressively investing for growth, competitively well positioned within our markets, and delivering profitable growth," said Stan Askren, HNI Corporation Chairman, President and Chief Executive Officer.


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