Herman Miller, Inc. (NASDAQ: MLHR) has reported the adjusted earnings per share of $0.57 in the first quarter of FY 18, which is as per the analysts’ estimates for the adjusted earnings per share of $0.57 as per Thomson Reuters. On the other hand, the group’s profits fell 8.8 percent to $33.1 million in the first quarter. The company had reported 3.1 percent fall in the adjusted revenue to $580.30 million in the first quarter of FY 18, missing the analysts’ estimates for revenue of $578.27 million. The company has also recently declared a quarterly dividend, which will be paid on October 15^th.

On the other side, MLHR in the first quarter of FY 18 has reported new orders of $594.8 million that were consistent with the last year level. On an organic basis, the net sales and orders in the first quarter has grown by 3.9% and 7.8%, respectively, against same quarter last fiscal year.

Moreover, North America and ELA segments, has posted solid year-over-year organic order growth in the first quarter against the last fiscal year. Consumer business has posted double-digit organic sales and order growth in the first quarter of FY 18. MLHR has continued progress on cost savings initiative, which was announced last year.

In addition, the consolidated gross margin in the first quarter of FY 18 is 37.4%, which represents a 1 percent fall from the same quarter of last fiscal year. MLHR has posted pre-tax restructuring expenses and other charges of $2.1 million in the first quarter of FY 18.

Going forward, there will be challenges resulting from the recent storms in Texas and the South East. Though the overall global economic picture remains positive.

For the second quarter of FY 18, MLHR expects the net sales to be in the range of $590 million to $620 million. On an organic basis, after adjusting for the impact of a dealer divestiture and foreign currency translation, the projection implies the organic sales growth of 6% compared to the second quarter of the prior year at the mid-point of the range. Diluted earnings per share in the quarter are expected to range from $0.55 to $0.61 per share.

MLHR stock has risen 0.09% in a year (source: Google Finance).