Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of office equipment maker Herman Miller
So what: The company ended fiscal 2011 at the end of May and didn't disappoint investors with its spring performance. Sales were up 37% to $441.5 million, and earnings per share jumped to $0.30 after breaking even last year. Analysts expected $418 million in revenue and EPS of $0.26.
Now what: The job market may be bad, but North American business customers are updating their offices by ordering 21.4% more product than last year. For the year, earnings were up nearly 150%, and management expects momentum to continue next year. Shares aren't cheap at 24 times 2011 earnings, so I'm not an eager buyer here, but if there's a pullback the company's improving sales are encouraging.
Interested in more info on Herman Miller? Add it to your watchlist.
Fool contributor Travis Hoium does not have a position in any company mentioned. You can follow Travis on Twitter at @FlushDrawFool, check out his personal stock holdings or follow his CAPS picks at TMFFlushDraw.
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