Herman Miller Inc. Reveals 9% Retreat In Q1 Profit

(RTTNews) - Herman Miller Inc. (MLHR) revealed earnings for first quarter that dropped compared to the same period last year.

The company said its bottom line declined to $33.1 million, or $0.55 per share. This was lower than $36.3 million, or $0.60 per share, in last year's first quarter.

Analysts had expected the company to earn $0.57 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 3.1% to $580.3 million. This was down from $598.6 million last year.

Herman Miller Inc. earnings at a glance:

-Earnings (Q1): $33.1 Mln. vs. $36.3 Mln. last year. -Earnings Decline (Y-o-Y): -8.8% -EPS (Q1): $0.55 vs. $0.60 last year. -EPS Decline (Y-o-Y): -8.3% -Analysts Estimate: $0.57 -Revenue (Q1): $580.3 Mln vs. $598.6 Mln last year. -Revenue Change (Y-o-Y): -3.1%