Knoll Reports First Quarter 2020 Results
Knoll, Inc (KNL)
Last knoll, inc earnings: 10/23 04:15 pm
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US:NYSE Investor Relations:
phx.corporate-ir.net/4geq.url
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Source: GlobeNewswire
EAST GREENVILLE, Pa., April 27, 2020 (GLOBE NEWSWIRE) -- Knoll, Inc. (NYSE: KNL), a leading designer and manufacturer of furnishings, textiles and fine leathers for the workplace and home, today announced results for the first quarter ended March 31, 2020. First Quarter Highlights Net Sales increased 2.2% to $340.0MGAAP Gross Margin decreased 120 bps to 36.0%Adjusted Gross Margin decreased 80 bps to 36.4%GAAP Operating Expenses increased $16.3M to $110.9M or 32.6% of net salesAdjusted Operating Expenses increased $8.9M to $100.9M or 29.7% of net salesGAAP Operating Margin decreased 520 bps to 1.8% in the Office segmentGAAP Operating Margin decreased 480 bps to 11.0% in the Lifestyle segmentAdjusted EBITDA Margin decreased 110 bps to 9.0% in the Office segmentAdjusted EBITDA Margin decreased 400 bps to 15.3% in the Lifestyle segmentGAAP Net Earnings decreased $7.1M to $10.9M or 3.2% of net salesAdjusted EBITDA decreased $8.4M to $33.2M or 9.8% of net salesGAAP Diluted EPS decreased
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