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Hni Corp (HNI) SEC Filing 10-K Annual report for the fiscal year ending Saturday, December 29, 2012

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 RESULTS IN LINE WITH GUIDANCE FOR FOURTH QUARTER AND
YEAR-END FISCAL 2012

MUSCATINE, Iowa (February 5, 2013) –
HNI Corporation (NYSE: HNI) today announced sales of $527.5 million and net income of $17.6 million for the fourth quarter ended December 29, 2012.  Net income per diluted share for the quarter was $0.39 or $0.40 on a non-GAAP basis when excluding restructuring and transition costs.  For fiscal year 2012, the Corporation reported sales of $2.0 billion, a 9.3 percent increase from prior year, and net income of $49.0 million, a 6.5 percent increase from prior year.  Net income per diluted share for the year was $1.07 or $1.13 on a non-GAAP basis when excluding restructuring and transition costs.

Fourth Quarter and FY'12 Summary Comments
"We continue to compete well in our markets and delivered solid results for the fourth quarter and full year 2012 in a challenging environment.  Our growth investments delivered top-line improvement in the quarter despite considerable economic uncertainty, and outstanding working capital management drove significant cash generation.  Office furniture sales growth was led by a solid increase in our supplies-driven business.  Continued strong profit growth in our hearth business was led by substantial growth in the new construction channel and strong operational execution.  We enter 2013 financially strong, competitively well positioned, and focused on 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 6, 2013 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 Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Equity
Consolidated Statements Of Equity (paranthetical)
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
Postretirement Health Care
Postretirement Health Care (components Of Net Periodic Postretirement Benefit Cost For 2013) (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)
Reportable Segment Information
Reportable Segment Information (business Segment Information) (details)
Reportable Segment Information (net Sales By Product Category) (details)
Reportable Segment Information (tables)
Restructuring Related And Impairment Charges
Restructuring Related And Impairment Charges (details)
Restructuring Related And Impairment Charges (schedule Of Restructuring Reserve By Type Of Cost) (details)
Restructuring Related And Impairment Charges (tables)
Retirement Benefits
Retirement Benefits (details)
Shareholders' Equity
Shareholders' Equity (accumulated Other Comprehensive Loss) (details)
Shareholders' Equity (common And Preferred Stocks) (details)
Shareholders' Equity (dividends Declared And Paid Per Share) (details)
Shareholders' Equity (narrative) (details)
Shareholders' Equity (reconciliation Of Net Income To Comprehensive Income) (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)

Material Contracts, Statements, Certifications & more

Hni Corp provided additional information to their SEC Filing as exhibits

Ticker: HNI
CIK: 48287
Form Type: 10-K Annual Report
Accession Number: 0000048287-13-000006
Submitted to the SEC: Fri Feb 22 2013 8:42:37 AM EST
Accepted by the SEC: Fri Feb 22 2013
Period: Saturday, December 29, 2012
Industry: Office Furniture No Wood

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