Plus   Neg

HNI Corp. Q4 Profit More Than Halves, But Tops Estimates - Quick Facts

HNI Corp. (HNI) reported Monday that net income attributable to the company for the fourth quarter more than halved to $22.57 million or $0.52 per share from $47.60 million or $1.10 per share in the year-ago quarter.

Excluding special items, adjusted net income for the quarter was $0.66 per share, compared to $1.12 per shatter in the prior-year quarter.

On average, three analysts polled by Thomson Reuters expected the company to report earnings of $0.60 per share for the quarter. Analysts' estimates typically exclude special items.

Net sales for the quarter declined 8.8 percent to $562.14 million from $616.08 million in the same quarter last year. On an organic basis, sales decreased 9.2 percent. The Street was looking for sales of $572.83 million for the quarter.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
The Inter-American Development Bank and Citi Innovation Labs have successfully completed a proof-of-concept to make cross-border payments from the U.S. to countries in Latin America and the Caribbean, using blockchain and tokenized money. The platform provided full traceability of the transactions, exchange rates, and fees on blockchain. Australian competition regulator said the country's Federal Court found that Google and its Australian arm misled users about the collection and use of personal location data. The data was collected through Android mobile devices between January 2017 and December 2018. This is said to be the world-first enforcement action brought by the Australian Competition and Consumer Commission or ACCC. Morgan Stanley (MS) reported a first-quarter profit that more than doubled from last year, reflecting strong performance across all of its business segment. Net revenues for the quarter grew 61 percent from the previous year. Quarterly adjusted earnings per share beat analysts' estimates.
Follow RTT