Herman Miller's Solid Results: Fool by Numbers (MLHR)

Herman Miller's Solid Results: Fool by Numbers

On June 27, Herman Miller (Nasdaq: MLHR ) released fourth-quarter and fiscal-year earnings for the period ended June 2.

Sales rose 9.3% to $485.3 million, as the company's backlog increased 20.9%, indicating continued strong sales.
Herman Miller's earnings improved by 26.8% to $31.7 million in the fourth quarter.
Herman Miller is currently rated as a three-star stock (out of a possible five) in Motley Fool CAPS. In fact, 376 of the 421 players (including 143 of 164 All-Stars) rating the company predict it will outperform the S&P 500.

(Figures in millions, except per-share data.)

Income Statement Highlights

	Q4 2007	Q4 2006	Change
Sales	$485.3	$44438.12	9.3%
Net Profit	$31.7	$25.0	26.8%
EPS	$0.50	$0.38	31.6%
Diluted Shares	63.8	66.7	(4.4%)

Get back to basics with the income statement.

Margin Checkup

Q4 2007	Q4 2006	Change*
33.6%	34.0%	(0.4)
9.2%	8.4%	0.8
6.5%	5.6%	0.9

*Expressed in percentage points

Margins are the earnings engine.

Balance Sheet Highlights

Assets	Q4 2007	Q4 2006	Change
Cash + ST Invest.	$92.3	$122.0	(24.3%)
Accounts Rec.	$188.1	$173.2	8.6%
Inventory	$56.0	$47.1	18.9%

Liabilities	Q4 2007	Q4 2006	Change
Accounts Payable	$110.5	$112.3	(1.6%)
Long-Term *	$3.0	$3.0	0.0%

*Net of current portion

The balance sheet reflects the company's health.

Cash Flow Highlights

	Q4 2007	Q4 2006	Change
Cash from Ops	$46.3	$48.0	(3.5%)
Capital Expenditures	$12.8	$16.2	(21.0%)
Free Cash Flow	$33.5	$31.8	5.3%

Free cash flow is a Fool's best friend.

Related Foolishness:

Fool by Numbers is designed to give you the raw earnings information in a timely fashion, putting all the numbers you need in one easy-to-read place. But at The Motley Fool, we believe numbers tell only part of the story, so check Fool.com for more of our in-depth discussion of what the numbers mean.

At the time of publication, Fool contributor Mike Cianciolo held no position in Herman Miller.

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