Herman Miller’s first quarter ended September 2, 2000 exceeded all other quarters in the company’s 77-year history, with record-breaking (for the 3-month period) net income and earnings per share. According to Beth Nickels, CFO, of the giant furniture manufacturer, new sales grew 19.9% and orders grew 28.5%.
Domestic sales increased 11.6% to $455.9 million compared with $408.5 million in the same quarter of last year. New orders in the domestic market increased 17.3%, which continues to outpace the industry according to Business & Institutional Furniture Manufacturers Association (BIFMA) statistics. Net sales of international operations and exports from the United States increased 9.8%, to $70.6 million, compared with $64.3 million in the first quarter of last year.
From officeinsight
