HNI Corp. Q4 Profit More Than Halves, But Tops Estimates - Quick Facts

(RTTNews) - HNI Corp. (HNI) reported Monday that net income attributable to the company for the fourth quarter more than halved to $8.22 million or $0.19 per share from $22.57 million or $0.52 per share in the year-ago quarter.

Excluding special items, adjusted net income for the quarter was $0.43 per share, compared to $0.66 per shatter in the prior-year quarter.

On average, three analysts polled by Thomson Reuters expected the company to report earnings of $0.41 per share for the quarter. Analysts' estimates typically exclude special items.

Net sales for the quarter grew 7.3 percent to $602.91 million from $562.14 million in the same quarter last year. On an organic basis, sales increased 4.0 percent. The Street was looking for sales of $596.63 million for the quarter.

Looking ahead, the Corporation expects first-quarter profitability to be below levels generated in the comparable prior-year period.