HNI Corporation 600 East Second Street, Muscatine, Iowa 52761, Tel 563 272 7400, Fax 563 272 7347, www.hnicorp.com
For Information Contact:
Marshall H. Bridges, Senior Vice President and Chief Financial Officer (563) 272-7400
Jack D. Herring, Treasurer, Director of Finance and Investor Relations (563) 506-9783
HNI CORPORATION REPORTS EARNINGS
FOR FOURTH QUARTER AND FISCAL YEAR 2018
MUSCATINE, Iowa (February 25, 2019) – HNI Corporation (NYSE: HNI) today announced sales for the full year ended December 29, 2018 of $2,258 million and net income of $93 million. GAAP net income per diluted share was $2.11 compared to $2.00 in the prior year. Non-GAAP net income per diluted share was $2.41 compared to $1.97 in the prior year.
Fourth quarter sales were $598 million and net income was $32 million. GAAP net income per diluted share was $0.73 compared to $0.77 in the prior year. Non-GAAP net income per diluted share was $0.97 compared to $0.47 in the prior year. GAAP to non-GAAP reconciliations follow the financial statements in this release.
Fourth Quarter Summary Comments
“Our teams performed well in the fourth quarter – delivering significant earnings growth and margin expansion. We are managing through multiple challenges, including continued inflationary pressures, tariff impacts, and choppy demand. Our organization is responding well, and I am optimistic about what we can accomplish in the future,” said Jeff Lorenger, HNI Corporation, President and Chief Executive Officer.
The following information was filed by Hni Corp (HNI) on Monday, February 25, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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Form Type: 10-K Annual Report Accession Number: 0000048287-19-000045 Submitted to the SEC: Tue Feb 26 2019 4:56:27 PM EST Accepted by the SEC: Tue Feb 26 2019 Period: Saturday, December 29, 2018 Industry: Office Furniture No Wood