RTTNews | Mar 1, 2021 07:51AM EST

07:51 Monday, March 1, 2021 (RTTNews.com) - HNI Corp. (HNI) reported Monday that net income attributable to the company for the fourth quarter more than halved to $22.57 million or $0.52 per share from $47.60 million or $1.10 per share in the year-ago quarter.

Excluding special items, adjusted net income for the quarter was $0.66 per share, compared to $1.12 per shatter in the prior-year quarter.

On average, three analysts polled by Thomson Reuters expected the company to report earnings of $0.60 per share for the quarter. Analysts' estimates typically exclude special items.

Net sales for the quarter declined 8.8 percent to $562.14 million from $616.08 million in the same quarter last year. On an organic basis, sales decreased 9.2 percent. The Street was looking for sales of $572.83 million for the quarter.

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