MillerKnoll(US:MLKN)2019-12-19 14:56Financial Performance & Outlook - FY19 revenue reached $2.57 billion[11], with North America contributing 66%, Retail 15%, and International 19%[11] - The company anticipates annual organic revenue growth of 4-7% and total revenue growth, including acquisitions, of 6-10%[55] - Adjusted operating margin for FY19 was 8.8%[121] - Q2 FY20 net sales increased 3% year-over-year, while orders decreased 4%[70] - Q2 FY20 gross margin was 37.9%, a 180-basis point increase from the previous year[70] Capital Allocation & Investments - The company has allocated $243 million for targeted M&A in the past 5 years[49] - R&D investment is at $150 million[49] - Q2 FY20 capital expenditures totaled $20 million[80] - Q2 FY20 dividends paid totaled $12 million[81] Strategic Priorities - The company focuses on four strategic priorities: unlocking the power of One Herman Miller, building a customer-centric digitally-enabled business model, accelerating profitable growth, and reinforcing commitment to people, planet, and communities[16] Segment Performance - North America Contract segment accounted for 66% of consolidated revenues in FY19[87] - International Contract segment accounted for 19% of consolidated revenues in FY19[95] - Retail segment accounted for 15% of consolidated revenues in FY19[100]