Knoll “Firing On All Cylinders”

April 23, 2007  by in UnCategorized   

By Home Furnishings Business in Upholstery on April 2007 Office and residential furniture manufacturer Knoll, East Greenville, Pa., announced that its net sales for its first quarter increased 13.7 percent to $247.9 million over the same period last year.

Net income increased 45.1 percent to $14.8 million and earnings per share was 30 cents per share versus 20 cents in the prior year.

“Knoll is firing on all cylinders,” said CEO Andrew Cogan, according to an announcement Thursday. “Thanks to the breadth and diversity of our growth initiatives, for the third year in a row we are growing our sales faster than the industry. And, importantly in 2007, investments in our operations are resulting in significant improvements in both our gross and industry leading operating margins.”

The company expects second quarter revenues to increase 6 percent to 10 percent to $262 million to $272 million.