Office furniture supplier Herman Miller was rising in Wednesday’s late session after tonight reporting adjusted fiscal Q4 net income of $0.64 per share, improving on a $0.56 per share profit during the same quarter last year and beating the Capital IQ consensus by $0.09 per share. Net sales declined 0.9% from year-ago levels to $577.2 million, trailing the $583.53 million Street view.
Looking forward, Herman Miller said it is expecting adjusted Q1 net income in a range of $0.55 to $0.59 per share, bridging the $0.56 per share consensus. It sees net sales for the current quarter between $570 million to $590 million, also in-line with the $585.3 million consensus. The company tonight also raised its quarterly cash dividend to $0.18 per share, representing a 6% increase over its most recent distribution and payable in October.