{"id":21132,"date":"2017-07-07T08:33:03","date_gmt":"2017-07-07T06:33:03","guid":{"rendered":"http:\/\/modern-wilderness.flywheelsites.com\/?p=21132"},"modified":"2017-07-07T08:33:03","modified_gmt":"2017-07-07T06:33:03","slug":"herman-miller-reports-fourth-quarter-fiscal-2017-results","status":"publish","type":"post","link":"https:\/\/officerepublic.news\/en\/2017\/07\/herman-miller-reports-fourth-quarter-fiscal-2017-results\/","title":{"rendered":"Herman Miller reports fourth quarter fiscal 2017 results"},"content":{"rendered":"<p><strong>Herman Miller, Inc. (See <a href=\"https:\/\/officerepublic.news\/en\/guide\/manufacturer-overview\/herman-miller\/\">OfficeRepublics Herman Miller page<\/a>) today announced results for its fourth quarter ended June\u00a03, 2017.\u00a0 Net sales in the quarter totaled $577.2 million, a decrease of 0.9% from the same quarter last fiscal year. New orders in the fourth quarter of $568.1 million were 6.3% below the prior year level.<\/strong><\/p>\n<p>Last quarter, the company estimated its most recent price increase, which became effective on February 6, 2017, had the effect of accelerating approximately $21 million of orders that would have otherwise been entered in the fourth quarter of fiscal 2017. On an organic basis, which includes the impact of that order acceleration as well as foreign currency translation and dealer divestitures, net sales in the fourth quarter increased by 2.7%, while orders were essentially flat from the same quarter last fiscal year.<\/p>\n<h4>Net earnings in Q4 and full Fiscal year<\/h4>\n<p>Herman Miller reported net earnings of $0.55 per share on a diluted basis in the fourth quarter compared to diluted earnings per share of $0.67 in the same quarter last fiscal year. Excluding the impact of restructuring and impairment charges recognized in the period, adjusted earnings per share in the fourth quarter totaled $0.64, an increase of 14.3% over adjusted earnings per share of $0.56 in the fourth quarter of last fiscal year.<\/p>\n<p>For the full fiscal year, net sales were $2.28 billion, reflecting a year-over-year increase of 0.6%. On an organic basis, net sales increased by 1.4% compared to last fiscal year. Diluted earnings per share for the full year totaled $2.05 compared to $2.26 last year. On an adjusted basis, diluted earnings per share totaled $2.16 in fiscal 2017 compared to $2.17 in fiscal 2016.<\/p>\n<h4>Dividend increase<\/h4>\n<p>The company also announced an increase in its quarterly cash dividend to $0.18 per share payable in October 2017. This change represents an increase of 6% from the previous dividend payout of $0.17 per share.<\/p>\n<p><a href=\"https:\/\/officerepublic.news\/wp-content\/uploads\/2017\/07\/Brian-Walker-Herman-Miller.jpg\" rel=\"mfp\"><img decoding=\"async\" loading=\"lazy\" class=\"alignleft size-thumbnail wp-image-21134\" src=\"https:\/\/officerepublic.news\/wp-content\/uploads\/2017\/07\/Brian-Walker-Herman-Miller-150x150.jpg\" alt=\"\" width=\"150\" height=\"150\" srcset=\"https:\/\/officerepublic.news\/wp-content\/uploads\/2017\/07\/Brian-Walker-Herman-Miller-150x150.jpg 150w, https:\/\/officerepublic.news\/wp-content\/uploads\/2017\/07\/Brian-Walker-Herman-Miller.jpg 250w\" sizes=\"(max-width: 150px) 100vw, 150px\" \/><\/a><a href=\"https:\/\/www.linkedin.com\/in\/brian-walker-7240a7a\/\">Brian Walker<\/a>, Chief Executive Officer, stated \u201c<em>While order levels across our contract businesses remained mixed this quarter, we were pleased to see continued net sales and order acceleration within our Consumer business segment. This growth reflects improved momentum in all areas of this segment and highlights the opportunity we see to leverage growth through our multi-channel business strategy. Better than expected gross margins and well-managed operating expenses combined to deliver adjusted earnings per share above the expectations that we provided at the start of the quarter and reflected adjusted earnings growth of 14% over the same quarter last year. As a result of strong cash flow generation and a well-positioned balance sheet, the Board of Directors approved an increase in our quarterly dividend payout &#8211; an action that reflects the confidence of the Board and our leadership team in the power of our long-term strategy.<\/em>\u201d<\/p>\n<p>Read the <a href=\"http:\/\/www.hermanmiller.com\/about-us\/press\/press-releases\/all\/herman-miller-reports-fourth-quarter-fiscal-2017-results.html\">full press release on HermanMiller.com<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Herman Miller, Inc. (See OfficeRepublics Herman Miller page) today announced results for its fourth quarter ended June\u00a03, 2017.\u00a0 Net sales in the quarter totaled $577.2 million, a decrease of 0.9% from the same quarter last fiscal year. New orders in the fourth quarter of $568.1 million were 6.3% below the prior year level. Last quarter,&hellip;<\/p>\n","protected":false},"author":3,"featured_media":18648,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_publicize_message":"Herman Miller reports fourth quarter fiscal 2017 results","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[3091,4558],"tags":[4141],"jetpack_publicize_connections":[],"acf":{"app_titel":"","app_article":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v19.5.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Herman Miller reports fourth quarter fiscal 2017 results | OfficeRepublic<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/officerepublic.news\/en\/2017\/07\/herman-miller-reports-fourth-quarter-fiscal-2017-results\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Herman Miller reports fourth quarter fiscal 2017 results | OfficeRepublic\" \/>\n<meta property=\"og:description\" content=\"Herman Miller, Inc. (See OfficeRepublics Herman Miller page) today announced results for its fourth quarter ended June\u00a03, 2017.\u00a0 Net sales in the quarter totaled $577.2 million, a decrease of 0.9% from the same quarter last fiscal year. New orders in the fourth quarter of $568.1 million were 6.3% below the prior year level. Last quarter,&hellip;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/officerepublic.news\/en\/2017\/07\/herman-miller-reports-fourth-quarter-fiscal-2017-results\/\" \/>\n<meta property=\"og:site_name\" content=\"OfficeRepublic\" \/>\n<meta property=\"article:author\" content=\"https:\/\/www.facebook.com\/officerepublic\/\" \/>\n<meta property=\"article:published_time\" content=\"2017-07-07T06:33:03+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/officerepublic.news\/wp-content\/uploads\/2017\/04\/Herman-Miller-Header.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"900\" \/>\n\t<meta property=\"og:image:height\" content=\"450\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Frans Sijtsma\" \/>\n<meta name=\"twitter:card\" content=\"summary\" \/>\n<meta name=\"twitter:creator\" content=\"@https:\/\/twitter.com\/or__nl\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta 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