(MLHR) - Company increased revenues for the past three years and grew profits for four years running, most recently by 14.6% and 45.9%

Herman Miller, Inc. (MLHR), a Zacks #1 Rank stock, produced only one negative earnings surprise over the past 16 quarters. In the first quarter of fiscal 2007, orders exceeded $500 million for the first time in more than five years. Earnings per share are projected to grow 16% over the next 3-5 years. Consensus estimates have been trending higher. MLHR has a current dividend yield of 0.95% and a five-year average dividend yield of 0.80%. Full Analysis Herman Miller, Inc. researches, designs, manufactures and distributes interior furnishings for use in various environments, including office, healthcare, educational and residential settings. The company has operations, sales offices, dealers, and licensees in more than 40 countries in North America, Asia/Pacific, Europe, Middle East, Africa and Latin America. MLHR has a strong history of either meeting or beating analysts' earnings expectations. Over the past 16 quarters, the company has only produced one negative earnings surprise. Earnings per share grew 55.2% over the past five years. On Sep 20, MLHR reported first-quarter fiscal 2007 profits of $28.5 million, or 43 cents per share, compared with $23.7 million, or 34 cents per share, in the prior-year period. The result marked a 26.5% year-over-year improvement and a 7.5% positive earnings surprise. Revenues jumped 4.4% to $449.7 million. Furthermore, orders for the quarter exceeded $500 million for the first time in more than five years. The company increased revenues for the past three years and grew profits for four years running, most recently by 14.6% and 45.9%, respectively, in fiscal 2006. At NeoCon 2006, the industry's annual trade show in mid June, MLHR launched more new and innovative designs than at any other time in the company's history. The company is very confident, based on customer responses, that they will have a favorable impact on its business going forward. Looking ahead, MLHR expects fiscal second-quarter profits between 53 cents and 57 cents per share, which would equate to a 33% to 43% improvement over the prior-year period. Sales between $490 million and $510 million are expected, marking a 12% to 16% jump over the second quarter of fiscal 2006. Analysts reacted by upping their profit forecasts for this quarter by 21.7% to 56 cents over the past seven days. The consensus estimate for this year currently resides at $1.95. This represents a 12.1% jump over the same period of time. Over the next 3-5 years, earnings per share are projected to grow 16%, with the industry forecasted to grow at a 15% clip. Investors requiring additional income in the form of a dividend have been fairly pleased with MLHR. The company has a current dividend yield of 0.95% and a five-year average dividend yield of 0.80%. Note: The Zacks Rank is a very sensitive indicator that can change frequently for an individual stock. This important indicator is updated daily on Zacks.com and is available to Zacks Premium subscribers. As such, it is prudent to check the site for the latest Zacks Rank on the stocks highlighted in this section. Simply click the link for the stock or enter the symbol in the ticker entry box in the upper left hand corner of the web site. Content Courtesy: Zacks Investment Research #1 Ranked Stocks Highlight Archive To truly take advantage of the Zacks Rank, you need to first understand how it works. That is why we created the free special report: Zacks Rank Guide: Harnessing the Power of Earnings Estimate Revisions. | Blog Home| VitalStocks Home