Knoll Earnings: Here’s Why Investors are Buying Shares Now
Knoll Inc. (NYSE:KNL) delivered a profit and met Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 1.06%.
Knoll Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 13.33% to $0.13 in the quarter versus EPS of $0.15 in the year-earlier quarter.
Revenue: Rose 2% to $200.6 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Knoll Inc. reported adjusted EPS income of $0.13 per share. By that measure, the company missed the mean analyst estimate of $0.13. It beat the average revenue estimate of $198.17 million.
Quoting Management: “As expected, our first quarter results show slight growth which when combined with our stepped up strategic investments resulted in lower levels of profitability,” commented Andrew Cogan, CEO.
“I am pleased with our progress on our strategic initiatives. In spite of our expectation now, that we will face greater revenue headwinds on the government side of our business than we originally anticipated, we remain committed to our program of investments that aim to drive a more balanced mix of business and increased revenues and margins over the longer-term, he added.”
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