Knoll Inc. Q2 Profit Decreases - Quick Facts

(RTTNews) - Knoll Inc. (KNL) reported that its second-quarter net income decreased to $7.9 million or $0.17 per share, from $13.1 million or $0.28 per share last year.

On average, four analysts polled by Thomson Reuters expected the company to report profit of $0.16 per share for the quarter. Analysts' estimates typically exclude special items.

Gross profit was $69.9 million, a decrease of $4.5 million, or 6.0%, over the same period last year. Operating profit was $12.4 million, a decrease of 40.4% from the second quarter 2012.

The company said the decrease in operating profit was mainly the result of lower sales and increased spending associated with announced programs of strategic investments and initiatives to achieve longer term revenue and margin objectives.

Net sales decreased to $214.3 million from $221.0 million last year. Analysts expected revenue of $211.73 million for the quarter.