HNI Corporation is pleased to announce that Forbes magazine named the company to its “Platinum 400” – also known as America’s Best Big Companies. This represents the eighth consecutive year HNI Corporation has been included in this prestigious list of companies. The listing appeared in the January 9, 2006 issue of the publication.
“It’s a distinct honor to be included among this elite group of outstanding organizations,” said Stan Askren, chairman, president, and CEO of HNI Corporation.
Forbes uses a thorough process to select the elite list. For a company to be considered, fundamental requirements include revenue of at least $1 billion, stock prices of more than $5 per share, and public trading status for more than two years.
Forbes then ranks candidate companies for financial performance against their industry peers in one of 26 industry groups over the latest five years and most recent 12 months. The ranking items include sales and earnings growth, stock market returns, and debt to total capital. Forbes also ranks companies on their consensus forecasts for long-term earnings growth. Once Forbes determines individual company metrics, it tabulates a composite rank and score for each company.
“Knowing the comprehensive process that Forbes endures during its selection, it is extremely gratifying to be named to this list for the eighth consecutive year,” added Askren. “HNI’s commitment to strong financial performance, high quality products, and dedication of our member-owners, has enabled us to earn this recognition.”