Published in Breaking News

Herman Miller earnings flat amid global uncertainty

BY Thursday, December 22, 2016 10:04am

ZEELAND — Heightened volatility in order patterns coupled with uncertainty in the global economy and geopolitical environment contributed to flat performance at Herman Miller Inc.

The Zeeland-based office furniture manufacturer generated $577.5 million in revenue in the second quarter of its 2017 fiscal year that ended Dec. 3, according to a statement. By comparison, Herman Miller generated $580.4 million in revenue in the same quarter a year ago.

Herman Miller reported net income of $31.6 million, or 53 cents per diluted share, in the quarter, a 9.4-percent decrease from $34.9 million in the prior year.

Herman Miller President and CEO Brian Walker expects orders to continue to be volatile going forward.

“While business and consumer confidence appear to have rebounded with the completion of the U.S. presidential election, we have experienced elongated and less predictable time periods between project awards and order entry,” Walker said. “In anticipation of continued volatility in the near term, we are developing plans to drive further efficiencies throughout our business to both improve profitability and help fund growth initiatives.”

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