HNI Shares Rise In Pre-market On Upbeat Q1 Results

(RTTNews) - Shares of HNI Corporation (HNI), a provider of workplace furnishings and residential building products, were rising more than 3 percent in pre-market on Monday to $43.87 after reporting better-than-expected first-quarter results.

Net income for the first quarter jumped to $17.7 million or $0.37 per share from $1.6 million or $0.04 per share a year ago. On average, four analysts polled by Thomson Reuters expected the company to report earnings of $0.18 per share for the quarter.

Net sales for the quarter grew 22.7 percent to $588.0 million from $479.1 million in the same quarter last year. The Street was looking for sales of $574.56 million for the quarter.

HNI shares had closed at $42.50 on Friday. The stock has traded in the range of $24.81 - $45.47 in the last 1 year.