Home / Knowledge / News / Textiles / Knoll reports Full Year growth in sales, profits and EPS
Knoll reports Full Year growth in sales, profits and EPS
10
Feb '09
Knoll Inc. announced results for the fourth quarter and year ended December 31, 2008. Net sales were $276.3 million for the quarter, a decrease of 2.0% from fourth quarter 2007.

Operating profit was $37.3 million, or 13.5% of net sales, a decrease of 5.6% from the fourth quarter 2007. Operating profit for the fourth quarter of 2008 includes a restructuring charge of $1.2 million. Net income was $22.7 million, an increase of 9.7% over the fourth quarter 2007. Adjusted Earnings per share was $0.52 for the quarter compared to $0.42 per share in the prior year.

For the full year, net sales were $1.12 billion, an increase of 6.1% over full year 2007. Operating profit was $145.4 million, or 13.0% of net sales, an increase of 2.3% over full year 2007. Operating profit for the full year of 2008 includes restructuring charges of $4.6 million. Net income was $84.9 million, an increase of 18.9% over full year 2007, and adjusted earnings per share was $1.88 compared to $1.47 per share in the prior year.

"I am extremely proud of what our team accomplished and the results that we delivered in 2008. Overall, in spite of a challenging macroeconomic environment on both the top line and in terms of input costs our focus on high design content businesses allowed us to grow sales, protect our industry leading operating margins and deliver 28% growth in our Adjusted EPS," commented Andrew Cogan, CEO.

"Clearly the strategies that we have put in place since the last industry downturn have placed Knoll in a much stronger position to face a deteriorating demand environment. Our sources of revenue are significantly more diversified and less dependent on North America Office system demand trends in particular. Our higher margin Specialty businesses compose a much greater part of our revenue and profitability and International sales outside of North America currently represent the largest portion of our revenues ever. I am confident that with our rich pipeline of new products, and our proven ability to flex our cost structure, we will do as well as the environment will allow."

"I want to thank and congratulate all our Associates and dealer partners around the world on this extraordinary performance."

Knoll Inc


Must ReadView All

Textiles | On 24th Jul 2017

Gartex all set to feature garment, textile solutions

Complete value chain of garment and textile manufacturing solutions...

Courtesy: Abercrombie & Fitch

Apparel/Garments | On 23rd Jul 2017

Abercrombie & Fitch launches products on Alibaba Tmall

Abercrombie & Fitch has announced the launch of Abercrombie & Fitch...

Apparel/Garments | On 23rd Jul 2017

NRF urges Congress to reject border adjustment tax

The National Retail Federation has urged Congress to reject a...

Interviews View All

Yash Agarwal
Hitansh Online

Every market region has its own culture and trends

Divyesh Mashruwala
Akshar Industries

Surat dominates foiling, embossing and pleating

Rajiv Sirohi
Shara

‘Portugal is taking away a major share of the mill made sector.’

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

July 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Thanks for your valuable feedback. Claim your free latest sustainability e-book.


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search



X