Last $31.00 USD
Change Today +0.14 / 0.45%
Volume 433.9K
MLHR On Other Exchanges
As of 8:10 PM 10/24/14 All times are local (Market data is delayed by at least 15 minutes).

herman miller inc (MLHR) Snapshot

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52 Week High
06/6/14 - $32.72
52 Week Low
02/4/14 - $26.25
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Current Stock Chart for HERMAN MILLER INC (MLHR)

herman miller inc (MLHR) Details

Herman Miller, Inc. is engaged in the research, design, manufacture, and distribution of office furniture systems, seating products, other freestanding furniture elements, textiles, and related services in the United States and internationally. It provides modular systems under the Canvas Office Landscape, Locale, Metaform Portfolio, Public Office Landscape, Action Office, Ethospace, Resolve, and My Studio Environments; seating products under the Embody, Aeron, Mirra, Mirra2, Setu, Sayl, Celle, Equa, and Ergon; and storage products under the Meridian and Tu names. The company also offers wooden casegoods under the Geiger; freestanding furniture products under the Abak, Intent, Sense, and Envelop; and healthcare products under the Compass, Nala, and Nemschoff names, as well as provides Thrive portfolio of ergonomic solutions. In addition, it offers interior textiles for commercial, healthcare, and residential interiors. The company markets its products for office, healthcare, educational, and residential settings through its sales staff, own dealer network, independent dealers and retailers, and independent contract office furniture dealers, as well as through Internet. Herman Miller, Inc. was founded in 1905 and is headquartered in Zeeland, Michigan.

6,630 Employees
Last Reported Date: 07/29/14
Founded in 1905

herman miller inc (MLHR) Top Compensated Officers

Chief Executive Officer, President and Direct...
Total Annual Compensation: $834.6K
Chief Financial Officer and Executive Vice Pr...
Total Annual Compensation: $392.3K
Executive Vice President and President of Her...
Total Annual Compensation: $394.4K
Executive Vice President and President of Her...
Total Annual Compensation: $392.3K
Executive Vice President of Research, Design ...
Total Annual Compensation: $298.0K
Compensation as of Fiscal Year 2014.

herman miller inc (MLHR) Key Developments

Herman Miller Inc. Approves Amendment to the Company's Bylaws

Herman Miller Inc. announced that the annual meeting of the shareholders of the company was held on October 6, 2014, approved an amendment to the company's Bylaws. The Bylaws were amended to add a provision that, unless the company provides otherwise, the local state and federal courts in Michigan (the location of the company's headquarters and the jurisdiction in which the company was formed) are the sole and exclusive forum for specific claims brought against the company.

Herman Miller Inc. - Shareholder/Analyst Call

Shareholder Meeting

Herman Miller Inc. Announces Unaudited Consolidated Earnings Results for the First Quarter Ended August 30, 2014; Provides Earnings Guidance for the Second Quarter of Fiscal 2015; Provides Capital Expenditure Guidance for Fiscal 2015

Herman Miller Inc. announced unaudited consolidated earnings results for the first quarter ended August 30, 2014. For the quarter, net sales were $509.7 million against $468.1 million a year ago. Operating earnings were $42.2 million against $39.1 million a year ago. Earnings before income taxes and equity income were $37.5 million against $34.5 million a year ago. Net earnings attributable to the company were $25.2 million against $22.5 million a year ago. Diluted earnings per share were $0.42 against $0.38 a year ago. Cash flows provided by operating activities were $42.0 million against $38.2 million a year ago. Adjusted operating EBITDA was $59.2 million against $54.7 million a year ago. Adjusted diluted earnings per share were $0.47 against $0.43 a year ago. Income tax rate was 33.0% compared to 34.7% in the same quarter last fiscal year. Capital expenditures in the quarter were $8 million. The company expects net sales in the second quarter of fiscal 2015 to be in the range of $550 million to $570 million. This guidance implies total revenue growth between 17% and 21% over the second quarter of last fiscal year. On an organic basis, excluding the expected contribution from DWR and the impact of dealer divestitures, this range suggests growth of between 4% and 8% over last year. Gross margin in the second quarter is expected to range between 37% and 38%, excluding the impact of inventory step-up expenses. Diluted earnings per share in the quarter are expected to range between $0.46 and $0.50. On an adjusted basis, excluding the impact of anticipated expenses associated with the initial valuation of DWR inventories, earnings per share in the quarter are expected to be between $0.50 and $0.54. This guidance assumes an effective tax rate between 33% and 35%. The company anticipates full year 2015 capital spending to be between $65 million and $70 million.


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Price/Book 4.7x
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