Teknion Corporation experienced strong growth in all of its markets for the three and nine months ended August 31, 2000, according to David Feldberg, president and CEO, who adds, “Teknion remains the fastest growing Company in the North American office systems and furniture business.” Sales for the third quarter rose 45% to another quarterly record of $242.7 million from $166.3 million last year. This sales increase, combined with improved profit margins, resulted in net earnings for the third quarter of $25.7 million and a 59% increase over the $16.2 million produced last year. For the nine months ended August 31, 2000 net income was $63.5 million, compared to $45.0 million last year.
Sales growth was particularly strong in the United States market, where Teknion’s sales rose 59.5% compared to last year. Canadian sales rose by 16.7%, while International revenues grew by 44.0%. United States sales represented 67.7% of total sales in the third quarter, while Canada represented 22.5% and International sales 9.8% of total sales. Teknion can be reached at its Web site www.teknion.com.
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