Knoll Profits on Corporate Growth, Dismisses Tariff Concerns [TheStreet.com]
Knoll, Inc (KNL)
Last knoll, inc earnings: 10/23 04:15 pm
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Source: TheStreet.com
Knoll Inc. ( KNL ) stock jumped on Tuesday, July 31, after the company that designs and manufactures furnishings and textiles for the workplace and residential homes reported earnings and revenue that topped Wall Street's estimates, driven largely by the office segment. Knoll posted reported adjusted earnings of 42 cents per share on revenue of $323.4 million, which surpassed expectations of earnings of 38 cents per share on revenue of $307.7 million, according to FactSet. The growth this quarter is a result of two factors, according to Chief Executive Officer Andrew Cogan. First, organically, the core office business has been very strong, I think stronger than people expected, Cogan told TheStreet. What's happening in the office place -- you've got corporate profitability, service sector employment -- all those are positive backdrops to increasing office furniture demand. Number two, companies are changing the way they are working -- less space for individua
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