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Last $27.92 USD
Change Today +0.32 / 1.16%
Volume 72.2K
MLHR On Other Exchanges
Symbol
Exchange
Munich
As of 11:36 AM 05/4/15 All times are local (Market data is delayed by at least 15 minutes).

herman miller inc (MLHR) Key Developments

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%.

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 Inc. to Report Q3, 2015 Results on Mar 18, 2015

Herman Miller Inc. announced that they will report Q3, 2015 results on Mar 18, 2015

Herman Miller Inc., Q3 2015 Earnings Call, Mar 19, 2015

Herman Miller Inc., Q3 2015 Earnings Call, Mar 19, 2015

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.

 

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MLHR

Industry Average

Valuation MLHR Industry Range
Price/Earnings 18.2x
Price/Sales 0.8x
Price/Book 3.9x
Price/Cash Flow 18.2x
TEV/Sales 0.6x
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