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Last $28.04 USD
Change Today -0.14 / -0.50%
Volume 401.7K
MLHR On Other Exchanges
Symbol
Exchange
Munich
NASDAQ GS
As of 8:10 PM 07/31/15 All times are local (Market data is delayed by at least 15 minutes).

herman miller inc (MLHR) Key Developments

Herman Miller Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended May 31, 2015; Provides Earnings Guidance for the First Quarter of Fiscal Year 2016

Herman Miller Inc. reported un-audited consolidated earnings results for the fourth quarter and year ended May 31, 2015. For the quarter, the company reported net sales of $550.7 million, an increase of 13.0% from $847.5 million reported in the same quarter last fiscal year. The company reported diluted earnings per share of $0.39 in the fourth quarter. This compares to diluted earnings per share of $0.28 in the same quarter last fiscal year. Excluding the impact of an asset impairment charge and a one-time tax benefit, adjusted diluted earnings per share in the fourth quarter totaled $0.47. In the fourth quarter of last fiscal year, the company reported adjusted diluted earnings per share of $0.50. The company reported operating earnings of $37.1 million compared to $26.2 million, earnings before income taxes and equity income of $33.7 million compared to $22.1 million, net earnings attributable to the company of $23.4 million compare dot $16.6 million and adjusted EBITDA of $59.5 million compared to $55.3 million for the last year. Adjusted earnings per share driven by continued gross margin improvements. For the full fiscal year, net sales were $2,142.2 million, reflecting a year-over-year increase of 13.8% (5.5% organic) from $1,882.0 million reported in last year. Earnings per diluted share totaled $1.62 compared to a loss per diluted of $0.37 last year. On an adjusted basis, earnings per share totaled $1.82 in fiscal 2015. This represents an increase of 8.3% over adjusted earnings per share of $1.68 in fiscal 2014. The company reported operating earnings of $163.4 million compared to operating loss of $25.7 million, earnings before income taxes and equity income of $145.2 million compared to loss before income taxes and equity income of $43.4 million, net earnings attributable to the company of $97.5 million compared to net loss attributable to the company of $22.1 million and adjusted EBITDA of $235.2 million compared to $206.3 million for the last year. The company provided earnings guidance for the first quarter of fiscal year 2016. The company expects net sales in the first quarter of fiscal 2016 to be in the range of $545 million to $565 million. This would represent an increase of between 7% and 11% from the first quarter of fiscal 2015. Diluted earnings per share in the quarter are expected to range between $0.44 and $0.48. The consolidated gross margin in first quarter of 2016 is expected to be relatively consistent with the fourth quarter level, ranging between 37.5% and 38.5%. This also assumes an effective tax rate of between 32% and 34%.

Herman Miller Inc. Announces Quarterly Cash Dividend, Payable on October 15, 2015

Herman Miller Inc. announced an increase in its quarterly cash dividend to $0.1475 per share. This change represents an increase of over 5% from the current dividend payout of $0.14 per share. This payment will be made on October 15, 2015 to shareholders of record at the close of business on August 29, 2015.

Herman Miller Inc. to Report Q4, 2015 Results on Jun 24, 2015

Herman Miller Inc. announced that they will report Q4, 2015 results After-Market on Jun 24, 2015

Herman Miller Inc., Q4 2015 Earnings Call, Jun 25, 2015

Herman Miller Inc., Q4 2015 Earnings Call, Jun 25, 2015

Herman Miller Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended February 28, 2015; Provides Earnings Guidance for the Fourth Quarter of Fiscal 2015

Herman Miller reported unaudited consolidated earnings results for the third quarter and nine months ended February 28, 2015. Net earnings of $0.35 per share on a diluted basis in the third quarter. This compares to diluted earnings per share of $0.33 in the same quarter last fiscal year. Excluding restructuring expenses recognized in the current period, adjusted diluted earnings per share in the third quarter totaled $0.37, an amount equaling the high end of the company's earnings guidance for the quarter. This compares to adjusted diluted earnings of $0.34 per share in the third quarter of fiscal 2014. Net sales were $516.4 million compared to $455.9 million a year ago. Operating earnings were $37.4 million compared to $34.1 million a year ago. Earnings before income taxes and equity income were $32.0 million compared to $29.3 million a year ago. Net earnings attributable to the company was $21.0 million compared to $19.4 million a year ago. Adjusted EBITDA was $51.7 million compared to $45.5 million a year ago. Adjusted operating earnings were $39.3 million compared to $35.2 million a year ago. For the nine months, net sales were $1,591.5 million compared to $1,394.5 million a year ago. Operating earnings were $126.3 million compared to loss of $51.9 million a year ago. Earnings before income taxes and equity income were $111.5 million compared to loss of $65.5 million a year ago. Net earnings attributable to the company was $74.1 million compared to loss of $38.7 million a year ago. Diluted EPS was $1.23 compared to diluted loss per share of $0.66 a year ago. Cash flows provided by operating activities was $109.8 million compared to $50.4 million a year ago. Adjusted EBITDA was $175.7 million compared to $151 million a year ago. Adjusted operating earnings were $138.2 million compared to $119 million a year ago. Adjusted earnings per diluted share were $1.35 compared to $1.18 a year ago. The company expects net sales in the fourth quarter of fiscal 2015 to be in the range of $530 million to $560 million. Diluted earnings per share in the quarter are expected to range between $0.39 and $0.43. Effective tax rate will be approximately 34%. Gross margin will be 36.5% to 37.5%.

 

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MLHR

Industry Average

Valuation MLHR Industry Range
Price/Earnings 17.3x
Price/Sales 0.8x
Price/Book 3.9x
Price/Cash Flow 17.2x
TEV/Sales 0.6x
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