Knoll, Inc. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2017. For the quarter, the company reported net sales were $268,694,000 against $294,700,000 for the same period prior year. Operating profit was $22,230,000 against $33,474,000 for the same period prior year. Income before income tax expense was $20,142,000 against $31,982,000 for the same period prior year. Net earnings attributable to the stockholders of the company were $12,938,000 against $21,635,000 for the same period prior year. Diluted earnings per share attributable to stockholders of the company were $0.26 against $0.44 for the same period prior year. Capital expenditures totaled $10.1 million compared to $8.0 million in the second quarter of 2016. Adjusted Operating Profit was $24,380,000 against $33,474,000 a year ago. Adjusted net income attributable to Knoll, Inc. stockholders was $14,320,000 or 0.29 per diluted share against $21,635,000 or 0.44 per diluted share a year ago. Operating activities provided $28.4 million of cash in the quarter.

For the six months, the company reported net sales were $525,514,000 against $579,329,000 for the same period prior year. Operating profit was $45,264,000 against $65,323,000 for the same period prior year. Income before income tax expense was $41,298,000 against $59,673,000 for the same period prior year. Net earnings attributable to the stockholders of the company were $28,338,000 against $39,035,000 for the same period prior year. Diluted earnings per share attributable to stockholders of the company were $0.57 against $0.80 for the same period prior year. Cash provided by operating activities was $32,238,000 against $46,339,000 a year ago.

The company estimates that its full year 2017 effective tax rate will be between 35% and 36%, inclusive of the tax benefit recognized in the first quarter of 2017.