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Economy

Sales & Profits Rise for HNI

HNI.Logo_.jpg

Sales and profits rose last year for HNI Corporation. Based in Muscatine, the maker of office furniture and fireplace hearth products reports sales in 2018 went up nearly 4 per cent, and earnings per share rose 5 1/2 per cent. 

Full year office furniture net sales increased 2.7 percent from the prior year, while hearth product sales for the year went up 7 percent, thanks to increases in the new construction and retail businesses.

For the first quarter of this year, HNI predicts sales will drop 3 to 5 percent, but by the end of the year it's expecting an increase of 2 to 6 per cent. Profits could reach $2.50 to $2.90 per share up from this year's $2.11. 
 

A native of Detroit, Herb Trix began his radio career as a country-western disc jockey in Roswell, New Mexico (“KRSY, your superkicker in the Pecos Valley”), in 1978. After a stint at an oldies station in Topeka, Kansas (imagine getting paid to play “Louie Louie” and “Great Balls of Fire”), he wormed his way into news, first in Topeka, and then in Freeport Illinois.