Knoll Inc. Q3 Profit Rises, Beats Estimates - Quick Facts

(RTTNews) - Knoll Inc. (KNL) on Friday reported an 82.6 percent surge in its third-quarter earnings, as total sales improved 23.7 percent year-over-year. Net income climbed to $15.7 million or $0.33 per share from $8.6 million or $0.18 per share for the same quarter in 2013. On average, four analysts polled by Thomson Reuters expected the company to report earnings of $0.29 per share for the quarter. Analysts' estimates typically exclude special items. Quarterly sales advanced to $268.3 million from $216.9 million a year ago. On an organic basis, excluding the impact of Holly Hunt acquisition, sales increased 10.1 percent year-over-year. Analysts had a consensus revenue estimate of $258.83 million.

Commenting on the results, Andrew Cogan, CEO of Knoll said: "It was a strong quarter as our strategy delivered better than industry growth and operating margins," "The combination of the continued turn of our North America Office business, double-digit organic growth, and the addition of our HOLLY HUNT acquisition are coming together to start to deliver the kind of performance we would expect," he added.