Herman Miller Q2 Adj. Profit Tops View; Issues Q3 Outlook - Quick Facts

(RTTNews) - Office furniture maker Herman Miller Inc. (MLHR), Wednesday reported second-quarter net loss of $80.6 million or $1.37 per share, compared to net income of $8.4 million or $0.14 per share last year.

Adjusted earnings for the quarter improved to $0.42 per share from $0.35 per share last year. On average, four analysts polled by Thomson Reuters expected earnings of $0.40 per share for the quarter. Analysts' estimates typically exclude special items.

Net Sales for the quarter grew 6.5 percent to $470.50 million from $441.80 million last year, while three analysts estimated revenues of $466.97 million for the quarter.

Looking forward to the third quarter, Herman Miller expects earnings of $0.30 to $0.36 per share and net sales of $445 million to $465 million.

Analysts currently estimate earnings of $0.39 per share on revenues of $461.10 million for the quarter.

Further, the company also announced an increase in its quarterly cash dividend to $0.14 per share payable in April 2014.