Herman Miller, Inc. (NASDAQ: MLHR) rose Thursday after the company reported upbeat results for its second quarter and issued strong third-quarter sales guidance.
The company, based in Zeeland, Michigan, today announced results for its second quarter ended December 1, 2018. Net sales in the quarter totaled $652.6 million, an increase of 7.9% from the same quarter last fiscal year. New orders in the second quarter of $702.6 million were 11.6% above the prior year level.
Herman Miller reported net earnings of $0.66 per share on a diluted basis in the second quarter compared to diluted earnings per share of $0.55 in the same quarter last fiscal year.
Excluding the impact of restructuring expenses and other charges, adjusted earnings per share in the second quarter totaled $0.75 compared to adjusted earnings per share of $0.57 in the second quarter of last fiscal year.
CEO Andi Owen said "Strong demand was a clear highlight of our results as we finished the quarter setting all-time records for quarterly net sales and order levels for our Company. Encouragingly, this growth was broad-based across our business segments.
"These results are a tribute to the talent and effort of our people and demonstrate the meaningful progress we have made on our strategic growth priorities.
"Our progress on strategic priorities included further integration of the HAY and Maars Living Walls brands into our business after the investments that we made in the first quarter of fiscal 2019."
MLHR shares eked up 10 cents to $30.37
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