Miller Industries Inc (MLR) SEC Filing 10-K Annual report for the fiscal year ending Monday, December 31, 2018

Exhibit 99.1

8503 Hilltop Drive, Ooltewah, TN 37363 Telephone 423.238.4171

MILLER INDUSTRIES REPORTS 2018 FOURTH QUARTER AND FULL YEAR RESULTS

CHATTANOOGA, Tenn., March 6, 2019/PRNewswire/ -- Miller Industries, Inc. (NYSE: MLR) (the "Company") today announced financial results for the fourth quarter and full year ended December 31, 2018.

For the fourth quarter of 2018, net sales were $180.0 million, an increase of 12.7%, compared to $159.7 million for the fourth quarter of 2017. Net income in the fourth quarter of 2018 was $10.8 million, or $0.95 per diluted share, an increase of 16.2%, compared to net income of $9.3 million, or $0.81 per diluted share, in the prior year period.

Gross profit for the fourth quarter of 2018 was $22.2 million, or 12.3% of net sales, compared to $18.5 million, or 11.6% of net sales, for the fourth quarter of 2017. Selling, general and administrative expenses were $10.8 million, or 6.0% of net sales, compared to $8.9 million, or 5.6% of net sales, in the prior year period.

For the full year ended December 31, 2018, net sales were $711.7 million, an increase of 15.7% compared to $615.1 million in the prior year. The Company reported net income of $33.7 million, or $2.96 per diluted share for the full year of 2018, an increase of 46.6% compared to net income of $23.0 million, or $2.02 per diluted share for the full year of 2017.

The Company also announced that its Board of Directors has declared a quarterly cash dividend of $0.18 per share, payable March 25, 2019 to shareholders of record at the close of business on March 18, 2019.

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