HNI Corp. (HNI) reported first-quarter net income attributable to the company of $1.4 million or $0.03 per share, compared to net loss of $0.1 million or $0.00 per share in the same quarter last year.
Adjusted net income for the latest-quarter was $0.03 per share, up from $0.01 per share last year. Analysts polled by Thomson Reuters expected the company to report a loss of $0.02 per share for the quarter. Analysts' estimates typically exclude special items.
Net sales for the quarter decreased 0.07% to $442.30 million from $445.21 million in the prior year quarter. Four analysts had consensus revenue estimate of $438.33 million for the quarter.
The company estimates non-GAAP earnings per share to be in the range of $0.22 to $0.27 for the second quarter and sales growth between 5 percent to 8 percent. Analysts expect the company to report earnings of $0.22 per share on revenues of $491.18 million for the second-quarter.
For the full year 2013, the company now expects non-GAAP earnings per share of $1.30 to $1.45, compared to its previous forecast of $1.25 to $1.45.
Analysts expect the company to report earnings of $2.06 per share for fiscal 2013.
For comments and feedback: editorial@rttnews.com