NEW YORK (TheStreet) -- Shares of Knoll Inc. (KNL) are higher by 6.36% to $18.05 in mid-morning trading on Friday after the work place furnishings company reported a 36.7% increase in net earnings to $10.8 million for the 2014 second quarter, compared to $7.9 million from the year ago period.
Diluted earnings per share were 23 cents for the most recent quarter versus 17 cents for the 2013 second quarter.
Net sales increased 24% to $265.8 million for the 2014 second quarter, from $214.3 million for last year's second quarter.
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Separately, TheStreet Ratings team rates KNOLL INC as a Hold with a ratings score of C+. TheStreet Ratings Team has this to say about their recommendation:
"We rate KNOLL INC (KNL) a HOLD. The primary factors that have impacted our rating are mixed some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its revenue growth, reasonable valuation levels and increase in net income. However, as a counter to these strengths, we also find weaknesses including disappointing return on equity and generally higher debt management risk."
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