EAST GREENVILLE, PA -- Wood office furniture maker Knoll Inc., benefitting from a strong fourth quarter, said it completed its best year since 2008.
Knoll posted net sales of $239.8 million for Q4, an increase of 30.4% from Q4 2009. Operating profit was $24.2 million, or 10.1% of net sales, an increase of 112.3% from the Q4 2009.
In addition, Knoll said that excluding restructuring charges of $1.7 million, adjusted operating profit was $25.9 million during Q4.
Knoll's strong Q4 helped it net sales of $809.5 million for all of 2010, an increase of $29.5 million or 3.8%, from 2009 net sales of $780.0 million. Seating experienced double digit growth during the year whiles systems furniture sales declined on a year over basis but showed significant improvement during the third and fourth quarters of 2010. Based upon percentage growth, Europe grew faster than North America in 2010.
Read more about Knoll's 2010 financial performance.
Posted by Rich Christianson
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