ZEELAND — Herman Miller Inc. posted its largest
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\nearnings per share ever Wednesday, another sign the office furniture industry is back to full strength.<\/p>\n
Like Grand Rapids rival Steelcase Inc., which also announced its best quarter in nearly six years this week, Herman Miller’s success stems in part from strong growth in its international sales.<\/p>\n
The company’s sales in Asia rose 50 percent, Mexico was up 30 percent and Europe increased 50 percent, Herman Miller spokesman Bruce Buursma said.
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Still, international was not the only driver. North American orders grow 20 percent over the prior year, according to Chief Financial Officer Beth Nickels.<\/p>\n
The Zeeland office-furniture maker posted profits of $36.6 million or<\/p>\n
56 cents a share, an increase of 31 percent compared to the $27.9 million the company made in the same period last year. It is the highest per share profit the company has recorded.<\/p>\n
Sales were $499.1 million for the quarter ended Dec. 2, an increase of about 14 percent over the same time last year.<\/p>\n
Orders were $529.1 million for the quarter, a 22 percent increase from the prior year and a 5 percent bump from the prior quarter.<\/p>\n
“Orders were over $500 million for the second consecutive quarter,” Nickels said. “This represents our highest level of orders in six years.”<\/p>\n
The company’s operating income of 11.8 percent for the quarter exceeds Herman Miller’s goal for 2017.<\/p>\n","protected":false},"excerpt":{"rendered":"
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