Knoll Inc. continues its excellent quarterly performance with double-digit sales and income growth figures reminiscent of early 1998. Sales increased by 19.3% over last year’s period, from $247,543 million to $295,357 million. Net income grew by more than 29.9%, from last year’s $25,913 million to $32,491 million.
As a percentage of sales, gross profit increased to 41.4% for the third quarter of 2000 from 39.0% for the third quarter of 1999 and increased to 41.3% for the nine months ended September 30, 2000 from 39.5% for the same period in 1999. Operating income as a percentage of sales increased to 21.7% for the third quarter of 2000 from 18.8% for the third quarter of 1999 and increased to 21.3% for the nine months ended September 30, 2000 from 18.1% for the same period of 1999.
The company’s 9-month operating activities generated $159,306 million in cash flow (vs. $66,527 million in the comparable period in the preceding fiscal year), of which $134,685 million was used to pay down its revolving credit and $11,250 million was used to repay its long-term debt.
Results for the 9-month period just ended indicate that Knoll (www.knoll.com) should move well into the billion dollar camp for this fiscal year, while maintaining outstanding profit margins.
Based on a report from officeinsight
