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Hni Corp (HNI) SEC Filing 10-K Annual report for the fiscal year ending Saturday, December 31, 2011

Hni Corp

CIK: 48287 Ticker: HNI
EXHIBIT 99.1
 
                                 News Release
 

 
For Information Contact:
Derek P. Schmidt, Vice President, Corporate Finance (563) 272-7344
Kurt A. Tjaden, Vice President and Chief Financial Officer (563) 272-7400
 

 
HNI CORPORATION ANNOUNCES INCREASED SALES AND EARNINGS FOR FOURTH QUARTER
AND YEAR-END – FISCAL 2011

MUSCATINE, Iowa (February 7, 2012) –
HNI Corporation (NYSE: HNI) today announced sales for the fourth quarter ended December 31, 2011, of $500.3 million, a 7 percent increase from the prior year quarter, and income from continuing operations of $18.0 million, a 43 percent increase from prior year quarter.  Net income per diluted share from continuing operations for the quarter was $0.40 or $0.41 on a non-GAAP basis when excluding restructuring and transition costs and non-operating gains.  For fiscal year 2011, the Corporation reported sales of $1.8 billion, a 9 percent increase from prior year, and income from continuing operations of $45.7 million, a 54 percent increase from prior year.  Net income per diluted share from continuing operations for the year was $1.01 or $1.05 on a non-GAAP basis when excluding restructuring and transition costs and non-operating gains.

Fourth Quarter and FY'11 Summary Comments
"We are pleased with our strong execution and solid profit improvement for the fourth quarter and full year 2011.  Our growth investments delivered top-line improvement across all businesses in the quarter, and outstanding working capital results drove significant cash generation.  Office furniture sales growth was led by strong performance in our contract and international businesses.  Hearth sales benefited from improved conditions in new home construction and high energy prices.

We enter 2012 financially strong and with positive momentum across all of our businesses.  We are aggressively investing for growth, competitively well positioned within our markets, and delivering profitable growth," said Stan Askren, HNI Corporation Chairman, President and Chief Executive Officer.

 
 

The following information was filed by Hni Corp (HNI) on Wednesday, February 8, 2012 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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Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information Document
Schedule Ii - Valuation And Qualifying Accounts
Schedule Ii - Valuation And Qualifying Accounts (details)
Consolidated Balance Sheets
Consolidated Balance Sheets (parenthetical)
Consolidated Shareholders' Equity (parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Equity
Consolidated Statements Of Income
Accounts Payable And Accrued Expenses
Accounts Payable And Accrued Expenses (details)
Accounts Payable And Accrued Expenses (tables)
Business Combinations
Business Combinations (details)
Derivative Financial Instruments
Derivative Financial Instruments (balance Sheet Location) (details)
Derivative Financial Instruments (effect Of Derivatives On Income Statement) (details)
Derivative Financial Instruments (tables)
Discontinued Operations
Discontinued Operations (details)
Discontinued Operations (tables)
Fair Value Measurements Of Financial Instruments
Fair Value Measurements Of Financial Instruments (details)
Fair Value Measurements Of Financial Instruments (tables)
Goodwill And Other Intangible Assets
Goodwill And Other Intangible Assets (goodwill) (details)
Goodwill And Other Intangible Assets (narrative) (details)
Goodwill And Other Intangible Assets (other Intangible Assets) (details)
Goodwill And Other Intangible Assets (tables)
Guarantees, Commitments And Contingencies
Guarantees, Commitments And Contingencies (details)
Income Taxes
Income Taxes (deferred Tax Assets And Liabilities) (details)
Income Taxes (effective Income Tax Rate Reconciliation) (details)
Income Taxes (narrative) (details)
Income Taxes (provision For Income Taxes) (details)
Income Taxes (tables)
Income Taxes (unrecognized Tax Benefits) (details)
Inventories
Inventories (details)
Inventories (tables)
Investor Information
Investor Information (details)
Investor Information (tables)
Leases
Leases (details)
Leases (tables)
Long-term Debt
Long-term Debt (details)
Long-term Debt (tables)
Nature Of Operations
Operating Segment Information
Operating Segment Information (details)
Operating Segment Information (tables)
Postretirement Health Care
Postretirement Health Care (components Of Net Periodic Postretirement Benefit Cost) (details)
Postretirement Health Care (estimated Future Benefit Payments) (details)
Postretirement Health Care (narrative) (details)
Postretirement Health Care (schedule Of Cost Of Retirement Plans) (details)
Postretirement Health Care (tables)
Property, Plant, And Equipment
Property, Plant, And Equipment (details)
Property, Plant, And Equipment (tables)
Restructuring Related And Impairment Charges
Restructuring Related And Impairment Charges (details)
Restructuring Related And Impairment Charges (tables)
Retirement Benefits
Retirement Benefits (details)
Shareholders' Equity
Shareholders' Equity (details)
Shareholders' Equity (tables)
Stock-based Compensation
Stock-based Compensation (narrative) (details)
Stock-based Compensation (nonvested Shares Activity) (details)
Stock-based Compensation (other Information) (details)
Stock-based Compensation (outstanding Stock Option And Rsus Activity) (details)
Stock-based Compensation (stock Option Vested Or Expected To Vest And Are Exercisable) (details)
Stock-based Compensation (tables)
Stock-based Compensation (valuation Assumptions) (details)
Summary Of Quarterly Results Of Operations (unaudited)
Summary Of Quarterly Results Of Operations (unaudited) (details)
Summary Of Quarterly Results Of Operations (unaudited) (tables)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (cash, Cash Equivalents And Investments) (details)
Summary Of Significant Accounting Policies (earnings Per Share) (details)
Summary Of Significant Accounting Policies (narrative) (details)
Summary Of Significant Accounting Policies (policies)
Summary Of Significant Accounting Policies (product Warranties) (details)
Summary Of Significant Accounting Policies (tables)
Ticker: HNI
CIK: 48287
Form Type: 10-K Annual Report
Accession Number: 0000048287-12-000010
Submitted to the SEC: Fri Feb 24 2012 9:14:40 AM EST
Accepted by the SEC: Fri Feb 24 2012
Period: Saturday, December 31, 2011
Industry: Office Furniture No Wood

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