MUSCATINE, IA – HNI Corp. announced the results of the third quarter, ended Sept. 29. Sales for the quarter were $674.6 million, a decrease of 1.4% from $684.3 million during the same quarter last year. Operating income reached $59.1 million, compared to $60.6 million during the third quarter of 2006.
“During the third quarter, we continued to find ways to improve our business, reduce structural costs and manage expenses. As a result, our office furniture business achieved record operating profit despite modest revenue growth, and our hearth team was able to profitably manage through the increasingly difficult macroeconomic conditions facing that business. The record EPS we generated in the quarter reflects the hard work and initiative of our members,” said Stan Askren, chairman, president and CEO.
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