Earnings release
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Herman Miller Reports Third Quarter Fiscal 2021 Results . Retail and International sales growth helps offset near - term demand pressures in North America Contract Retail momentum accelerates with sales growth of 63 % , order growth of 81 % , and operating margin of 20.1 % Consolidated operating margin expansion over the prior year Webcast to be held Thursday , March 18 , 2021 , at 9:30 am ET Release Immediate Date March 17 , 2021 Contact Kevin Veltman ( 616 ) 654-3973 or kevin_veltman@hermanmiller.com Jeff Stutz ( 616 ) 654-8538 or jeff_stutz@hermanmiller.com Media ( 616 ) 654-5977 or media_relations@hermanmiller.com Address Herman Miller , Inc. , 855 East Main Avenue , PO Box 302 , Zeeland , MI 49464-0302 Internet www.hermanmiller.com Third Quarter Fiscal 2021 Financial Results ( Unaudited ) Three Months Ended February 27 , February 29 , ( Dollars in millions , except per share data ) 2021 2020 % Chg . Net Sales $ 590.5 $ 665.7 ( 11.3 ) % $ Gross Margin % 39.1 % 36.5 % Operating Expenses $ 175.5 Restructuring Expenses GA $ 0.3 LA LA $ 189.4 $ 3.5 N / A ( 7.3 ) % $ ( 91.4 ) % $ 2021 1,843.6 39.3 % 502.2 ( Unaudited ) Nine Months Ended February 29 , February 27 , % Chg . 2020 $ 2,010.8 ( 8.3 ) % $ 37.0 % 562.3 N / A ( 10.7 ) % 1.5 $ LA Operating Earnings % 9.3 % 7.6 % N / A 12.0 % 9.6 8.6 % ( 84.4 ) % N / A Adjusted Operating Earnings % * 9.4 % 9.0 % N / A 12.2 % 9.5 % N / A Net Earnings Attributable to Herman Miller , Inc. $ 41.5 $ 37.7 10.1 % $ 165.7 $ 164.5 0.7 % Earnings Per Share - Diluted $ 0.70 $ 0.64 9.4 % $ 2.80 $ 2.78 Adjusted Earnings Per Share - Diluted * Orders $ 566.1 Backlog $ 0.65 $ $ 379.0 $ 0.74 651.7 411.2 ( 12.2 ) % $ ( 13.1 ) % $ ( 7.8 ) % 2.78 $ 2.47 0.7 % 12.6 % 1,751.9 $ 2,003.3 ( 12.5 ) % * Items indicated represent Non - GAAP measurements ; see the reconciliations of Non - GAAP financial measures and related explanations below . To our shareholders : As we review our company's performance since the onset of the pandemic a year ago , we have much to be proud of and even more to look forward to . We are beginning to see a light at the end of the tunnel and have a renewed sense of optimism about the future . We have a Retail business that continues to outperform , contract segments backed by a leading group of brands primed to leverage recent growth investments and our global dealer network , and the most talented and committed team in the industry . While the post - pandemic world will undoubtedly be different , change always brings opportunity , and we believe that there has never been a greater opportunity for Herman Miller . With our differentiated capabilities and ability to serve both contract and consumer audiences everywhere they work , live , learn , heal , and play , we are confident in our ability to continue creating value for all of our stakeholders . -more-