Herman Miller once again was selected by IndustryWeek magazine for its annual listing of the 50 Best U.S. Manufacturing Companies. Herman Miller is the only contract furniture manufacturer to appear on the list, which is available in the publication's June 2008 issue .
Each year, IndustryWeek compiles a ranking of the top 50 manufacturers in the United States. The magazine's methodology factors in revenue growth and profit margin over the past three years, with the most recent year's results weighted most heavily. Additionally, they evaluate three-year performance in four other financial ratios; return on equity, return on assets, asset turnover, and inventory turns.
With results from 2007 weighing most heavily in the selection process, Herman Miller's consolidated net sales grew 10.5 percent over the prior year to reach $1.92 billion, while orders were up 11.4 percent. Net sales also improved even as fiscal year 2006 included 53 weeks, versus 52 weeks in its fiscal 2007.
Herman Miller's Executive Vice President of Operations Ken Goodson said, "This last year's results and Industry Week's recognition are a real testament to the dedication and talent of Herman Miller's operations team, and we know we have even more success in front of us."
About Herman Miller, Inc.
The designs and services of Herman Miller enhance the performance of human habitats worldwide, making customers' lives more productive, rewarding, delightful, and meaningful. The company's award-winning products, complemented by furniture management and strategic consulting services, generated over $1.9 billion in revenue during fiscal 2007. Widely recognized both for its innovative products and business practices, Herman Miller is a recipient of the prestigious National Design Award for product design from the Smithsonian Institution's Cooper-Hewitt, National Design Museum, and in 2008 was once again cited by FORTUNE magazine as both the "Most Admired" company in its industry and among the "100 Best Companies to Work For" in America. The company trades on the NASDAQ Global Select Market under the symbol MLHR.
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