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

Courtesy: Carnegie Fabrics

Textiles | On 17th Jan 2017

Calera Capital acquires majority stake in Carnegie Fabrics

Private equity firm Calera Capital has bought a majority stake in...

President Tsai Ing-wen delivering remarks before boarding her plane bound for Central America. Courtesy: Presdient's office

Textiles | On 16th Jan 2017

‘Textiles at centre of Taiwan’s new trade arrangements’

Textiles should be at the heart of Taiwan’s thinking while developing ...

Apparel/Garments | On 16th Jan 2017

Ralph Lauren develops policy on tracking wood based fabrics

In a bid to trace source of wood based fabrics like viscose and rayon ...

Interviews View All

Rashi Menda
Zapyle

Every fifth sale we make on Zapyle is a repeat purchase

Spokesperson
Hugo Boss

'Hugo Boss works with carefully selected sourcing partners'

Evelyne Cholet
UCMTF

‘France had a reputation of being big in new ideas, but poor in marketing...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Ritu Kumar
Label Ritu Kumar

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

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer Prathyusha Garimella is known for blending...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

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
January 2017

January 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search