NEW YORK (TheStreet) --Shares of Herman Miller Inc. (MLHR) are lower by -3.72% to $30.50 in after-hours trading on Wednesday after the company reported a decrease in net earnings to 28 cents per diluted share for the 2014 fourth quarter, compared to 40 cents per diluted share for the same period in 2013.
The company, which designs, manufactures, and distributes interior furnishings for use in various environments, reported a diluted loss per share of -37 cents for the 2014 fiscal year versus earnings of $1.16 per diluted share for fiscal 2013.
However, net sales for the 2014 fourth quarter increased 6% to $487.5 million, compared to the 2013 fourth quarter. Net sales for fiscal 2014 increased 6% to $1.8 billion over the 2013 fiscal year.
Separately, TheStreet Ratings team rates MILLER (HERMAN) INC as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate MILLER (HERMAN) INC (MLHR) a BUY. This is driven by some important positives, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, expanding profit margins, largely solid financial position with reasonable debt levels by most measures, increase in stock price during the past year and growth in earnings per share. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity."