HNI Corp report 1st quarter sales down 5.1%

Saturday, 27 April, 2019

 

Image Source: (HNI Corporation Website)

HNI Monday announced sales for the first quarter ended March 30, 2019 of $479.5 million and net income of $1.0 million. GAAP net income per diluted share was $0.02 compared to $0.06 in the prior year.

Non-GAAP net income per diluted share was $0.02 compared to $0.10 in the prior year. “Our first quarter results were as expected. As anticipated, demand conditions generally improved throughout the quarter after a slow start. We were able to offset much of the impact from lower volume with cost savings and productivity. We are pleased with the progress on our initiatives and continue to believe our demand and profit results will improve throughout the year,” said Jeff Lorenger, HNI Corporation President and Chief Executive Officer.

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