Mixed bag for HNI Q3

 

19 October 2006 — Muscatine (IO): Office furniture manufacturer HNI has announced that Q3 consolidated net sales rose by 8.8 percent to $687.7 million from $632.3 million a year earlier.

 

Acquisitions completed in Q4 2005 and Q1 of this year accounted for $33 million of the sales increase.

 

Net income for the quarter fell by 11.8 percent to $35.8 million, or diluted EPS of $0.72, compared with $40.6 million, or diluted EPS of $0.73, in Q3 2005.