HNI Q1 Profit Rises; Lifts FY14 Adj. EPS Outlook - Quick Facts

(RTTNews) - HNI Corp. (HNI) Wednesday reported first-quarter net income attributable to the company of $11.1 million or $0.24 per share, up from $1.4 million or $0.03 per share in the same period last year.

On average, four analysts polled by Thomson Reuters expected the company to earn $0.10 per share for the quarter. Analysts' estimates typically exclude special items.

Net sales improved 2.2 percent to $452.20 million from $442.30 million last year, while three analysts expected revenues of $457.30 million.

Looking ahead to the second quarter, the company has forecast adjusted earnings in the range of $0.32 to $0.37 per share and sales to be flat to up 4 percent. Analysts currently expect second-quarter earnings of $0.33 per share.

For the fiscal 2014, the corporation now expects adjusted earnings in the range of $1.70 to $1.85 per share, up from its previous guidance range of $1.60 to $1.80 per share. Analysts currently expect full-year earnings of $1.74 per share.