Herman Miller reports continued growth
American furniture designer and manufacturer Herman Miller, Inc has announced positive results for the second quarter ended November 27, 2004. Sales increased 11.5% from the year-ago period. Orders and backlog also significantly improved over the prior-year levels, with orders up 9.1% and backlog increasing 18.9%. Net earnings were $15.4 million, an increase of 69.2% over net earnings of $9.1 million for the same period in the prior year. Gross margins improved to 32.6% of sales from 30.9% in the same period of the prior year.
Sales increased by 11.5% from the same period a year ago and 3.1% from the prior quarter. This represents the fourth consecutive quarter of year-on-year sales growth, and the second quarter in a row of double-digit sales growth.
“It was another great quarter, with better top-line growth in all areas of the business," said chief financial officer, Beth Nickels. "Our international markets experienced another strong quarter, with sales growth in excess of 40% for the second quarter in a row. Our domestic business continued its trend of steady growth with a sales increase of 6.7% for the quarter.”
Despite these pleasing results, all is not 100% positive at the company as it has also just filed a lawsuit against Italian company A. Studio. Herman Miller claims that the Florence-based company has intentionally copied its distinctive leather and wood Eames Lounge Chair and ottoman, which have been part of the Miller range since
1956.
