Last $28.91 USD
Change Today -0.48 / -1.63%
Volume 564.6K
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As of 8:10 PM 03/4/15 All times are local (Market data is delayed by at least 15 minutes).

herman miller inc (MLHR) Key Developments

Herman Miller Inc. Provides Revenue Guidance for the Third Quarter, Fourth Quarter and Full Year of Fiscal 2015

Herman Miller Inc. provided revenue guidance for the third quarter, fourth quarter and full year of fiscal 2015. For the third quarter of fiscal 2015, the company expects to report net sales between $513 million and $518 million. This estimated range, which is subject to final closing adjustments, represents an increase of 12.5% to 13.6% from the same quarter last fiscal year. For the fourth quarter of fiscal 2015, based on third quarter 2015 order trends, the company now expects net sales for the fourth quarter of fiscal 2015 to be in the range of $530 million to $560 million. For the full year of fiscal 2015, based on third quarter 2015 order trends, the company now expects net sales for the full year to be in the range of $2.118 billion to $2.153 billion.

Herman Miller Announces Senior Leadership Promotions and Appointments

Herman Miller Inc. announced the leadership promotions and appointments, effective immediately. Greg Bylsma, previously Chief Financial Officer at Herman Miller, has been named Chief Operating Officer of Herman Miller North America (Work and Learning), following Curt Pullen's decision to step down from the company. Malisa Bryant, previously Vice President of North America Sales at Herman Miller, has been promoted to Senior Vice President, Sales and Distribution for Herman Miller North America (Work and Learning). She will report directly to Brian Walker, President and Chief Executive Officer. Jeff Stutz, previously Chief Accounting Officer and Treasurer at Herman Miller, has been promoted to Executive Vice President and Chief Financial Officer. Mr. Bylsma has been Executive Vice President and Chief Financial Officer of Herman Miller since February 2009. He also has served as Principal Accounting Officer and Corporate Controller of Herman Miller. Ms. Bryant joined the Company in 2013 as Vice President and General Manager of Focused Market Segments. Prior to joining the company, she held several leadership roles within the industry, including the Vice President of Customer Support, Vice President and General Manager of Strategic Accounts, and Vice President of Sales for Allsteel, in each case at HNI. Mr. Stutz joined Herman Miller in 2001 and has held numerous roles within the company's finance organization, including Chief Accounting Officer, Treasurer & Vice President of Investor Relations, Assistant Corporate Controller, and Director of Consolidations and Reporting. He began his career as an auditor at Deloitte & Touche.

Herman Miller Inc. Presents at Raymond James & Associates 36th Annual Institutional Investors Conference, Mar-04-2015 09:15 AM

Herman Miller Inc. Presents at Raymond James & Associates 36th Annual Institutional Investors Conference, Mar-04-2015 09:15 AM. Venue: JW Marriott Grande Lakes, 4040 Central Florida Parkway, Orlando, FL 32837, United States.

Herman Miller Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended November 29, 2014; Provides Earnings Guidance for the Third Quarter and Full Year Fiscal 2014

Herman Miller Inc. reported unaudited consolidated earnings results for the second quarter and six months ended November 29, 2014. For the quarter, the company’s net sales were $565.4 million against $470.5 million a year ago. Operating profit was $8.3 million against operating loss of $26.6 million a year ago. Adjusted operating earnings were $9.1 million compared to $8.5 million a year ago. Adjusted EBITDA was $64.8 million compared to $50.8 million a year ago. Net earnings attributable to the company was $27.8 million or $0.46 per diluted share compared to net loss attributable to the company of $80.6 million or $1.37 per diluted share a year ago. Adjusted earnings per diluted share were $0.51 compared to $0.42 a year ago. Effective income tax rate in the second quarter was 33.8% compared to 37.6% in the same quarter last fiscal year. Cash flow generated from operations in the second quarter was $38.7 million compared to a net cash outflow from operations of $10.7 million in the same quarter last fiscal year. Capital expenditures in the quarter were $18 million. For the six months, the company’s net sales were $1,075.1 million against $938.6 million a year ago. Operating profit was $8.3 million against operating loss of $9.2 million a year ago. Adjusted operating earnings were $9.2 million compared to $8.9 million a year ago. Adjusted EBITDA was $124.0 million compared to $105.4 million a year ago. Net earnings attributable to the company was $53.0 million or $0.88 per diluted share compared to net loss attributable to the company of $58.1 million or $0.99 per diluted share a year ago. Adjusted earnings per diluted share were $0.98 compared to $0.84 a year ago. Through the first six months of fiscal 2015 operating cash flows were $80.7 million compared to $27.5 million during the same period of the prior year. The company expects net sales in the third quarter of fiscal 2015 to be in the range of $510 million to $530 million. Diluted earnings per share in the quarter are expected to range between $0.33 and $0.37. This guidance assumes an effective tax rate between 33% and 35%. Gross margin is expected to range between 36% and 37% for the third quarter. On a full year basis, the company expects net sales for fiscal 2015 to be in the range of $2.145 billion to $2.185 billion. Diluted earnings per share for the full fiscal year are expected to range between $1.71 and $1.79. On an adjusted basis, full year diluted earnings per share are expected to range between $1.80. Capital spending of between $65 million and $70 million. Adjusted earnings per share are expected to be between $1.80 and $1.88 per share on the full year, which would reflect growth of approximately 10% over fiscal 2014 at the midpoint of this range.

Herman Miller Inc. to Report Q2, 2015 Results on Dec 17, 2014

Herman Miller Inc. announced that they will report Q2, 2015 results After-Market on Dec 17, 2014

 

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