Monday, February 14, 2011

HON INDUSTRIES SALES RECOVERY....OR IS IT?

Headlines (HNI sells office furniture and harth products)

2010 results

HNI SALES CLIMB 19.9% in 4th qtr 2010 (sounds good right?)
sales were $466.1 MILLION 4th qtr
Fiscal 2010 sales $1.7 Billion (wow!)

Now reality

2007 Sales results

4th QTR $668 MILLION
Fiscal 2007 sales were $2.6 Billion

There’s your recovery

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