EAST GREENVILLE, PA -- Knoll Inc. (NYSE: KNL) reported net sales of $202.1 million for its third quarter, an increase of 11.5% over the third quarter of 2009.
Operating profit was $19.1 million, an increase of 13.7% over the third quarter of 2009. Sequentially, net sales increased $9.8 million, or 5.1%, and operating profit increased $7.2 million, or 60.0%, when compared with the second quarter of 2010.
"We are in the midst of a genuine recovery in demand," commented Andrew Cogan, CEO. "While we are benefiting from improved demand conditions, it is encouraging to see our rate of growth accelerating relative to the overall industry as our new product initiatives gain significant traction led by our innovative Generation by Knoll work chair."
Operating profit was $19.1 million, an increase of 13.7% over the third quarter of 2009. Sequentially, net sales increased $9.8 million, or 5.1%, and operating profit increased $7.2 million, or 60.0%, when compared with the second quarter of 2010.
"We are in the midst of a genuine recovery in demand," commented Andrew Cogan, CEO. "While we are benefiting from improved demand conditions, it is encouraging to see our rate of growth accelerating relative to the overall industry as our new product initiatives gain significant traction led by our innovative Generation by Knoll work chair."
Read Knoll's press release.
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