Contract furniture maker HNI
sales hit $2.2 billion
Business furniture manufacturer HNI Corporation (N YSE: HNI) reported $2.2 billion
in revenue for 2016 and a net income of $86
million. Fourth quarter sales were $581 million
and net income was $11 million, dampened by
impairment charges and write-downs.
“We strategically repositioned and simpli-
fied our portfolio to increase profitability,”
said Stan Askren, HNI CEO. “We continued to
significantly invest in our businesses to drive
long-term profitable growth.”
HNI recorded $10.5 million of restructuring
costs and $9.3 million of transition costs in 2016
in conjunction with previously announced clo-
sures and structural realignments, of which $14.6
million was recognized in cost of goods sold.
North Carolina has most
FDMC 300 main locations
North Carolina is where more FDMC 300
companies are based than any other state,
with 25 sites. Michigan is next with 19,
and Indiana is third with 18. These are
often, but not always, manufacturing plant
locations. In some cases this “main location” is a headquarters operation.
The FDMC 300 represents North America’s largest cabinet, furniture, millwork,
store fixture, office/contract and component producers.
Minnesota and Pennsylvania are next
with 16 companies each. Wisconsin has
15 companies, and Texas and California
each have 13 companies. Virginia has 11
and New York has 10.