Strong Q3 results at Knoll
American furniture manufacturer Knoll, Inc. has posted improved results for its third quarter ended September 30. Net sales for the period totalled $283.5 million, an 11.6%, or $29.5 million, increase compared with the third quarter 2007. Net income was $24.1 million, an increase of 31%, and gross profit was $104.2 million, an increase of $16 million, or 18.1%.
Operating expenses were higher at $63.1 million, or 22.3% of sales, compared with $54 million, or 21.3% of sales, during the third quarter of 2007. This was largely because of the inclusion of Edelman Leather, which was acquired during the fourth quarter of 2007.