ZEELAND, MI - Herman Miller has inked a multi-million sale of office furniture to ExxonMobil.
ExxonMobil is in the process of constructing a huge corporate campus on a 385-acre wooded site in Houston, TX. The oil giant's new campus will have multiple low-rise office buildings, laboratory, conference and training centers and facilities such as child care, a wellness center and other employee amenities. Some of the buildings are expected to open in early 2014. Approximately 10,000 employees will work there when completed by 2015, according to ExxonMobil.
In a Sept. 20 webcast about the company's frist quarter financial results, Herman Miller CEO Brian Walker called the ExxonMobil deal "one of the largest pojects in Herman Miller history," according to WZZM. Walker did not elaborate on the size of the deal.
The ExxonMobil contract will provide a boost in the arm for Herman Miller, which reported that its Q1 earnings ended Sept1 declined 18.7% from $24.6 million last year to $20.0 million. Net sales Q1 declined by 1.8% from $458.1 million to $449.7 million.
Commenting on Herman Miller's first quarter results, Walker, said, “This quarter’s results reflect good strategic execution offset by pockets of weak demand in some sectors. Our Specialty and Consumer business made great strides toward our vision for expanding this segment, which resulted in double digit order growth. Likewise, our International team continued to deliver solid results and make significant progress in building our footprint in the emerging markets. Growth in Asia and Latin America was offset by low demand in Europe and a weaker Euro. Soft demand from the federal government and health care customers offset positive growth in orders from commercial customers in North America.”
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