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Description: Brian Walker is Herman Miller CEO/President. With a Lead411 subscription, Herman Miller email addresses ( @hermanmiller.com ) of the executives are viewable. Other information includes Brian Walker email, phone, and extension.
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Site Reference: http://www.hermanmiller.com/CDA/SSA/News/Story/0,1585,a9-c1454-n636,00.html#
Brian Walker Chief Executive Officer, stated, "We had the foresight last year to realign our resources in preparation for the potential of rough waters ahead. As a result of those actions, we were able to continue to deliver solid financial results to our shareholders despite the challenges of softening demand in the U.S. and dramatic increases in commodity costs. We also continue to make excellent progress on our strategic initiatives to diversify and transform our business into a global company centered on performance innovation." FINANCIAL HIGHLIGHTS (Dollars in millions, except per share data) Three Months Ended 08/30/08 (13 Weeks) 09/01/07 (13 Weeks) Percent Change Net Sales $479.1 $491.7 (2.6%) Gross Margin (Percent of Sales) 33.9% 34.1% n/a Operating Expenses $105.8 $113.8 (7.0%) Operating Earnings (Percent of Sales) 11.8% 10.9% n/a Net Earnings $33.4 $33.5 (0.3%) Earnings Per Share--Diluted $0.60 $0.54 11.1% Orders $535.2 $483.8 10.6% Backlog $332.4 $279.8 18.8% Sales president and CEO, noted, "We remain very confident in the long-term success of our business model and our strategy to diversify and grow our product portfolio as well as the markets we serve. Signs of our continued success were evidenced in the financial results this quarter and in the execution of a new distribution alliance that will significantly expand our reach and product offering in China. We haven't stood still back home either. This quarter we entered into a new channel agreement in the retail market that will begin to bear fruit in the second quarter. We also have a development queue filled with innovative, problem-solving designs that will be further demonstrated with the launch of the Embody chair this fall. Looking ahead, we remain focused on performance and innovation in every aspect of the business." The company announced a live webcast to discuss the results of the
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