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Business Description
HNI Corporation, formerly known as HON Industries, Inc., is a provider of office furniture and hearth products. The office furniture segment manufactures and markets a line of metal and wood commercial and home office furniture, including storage products, desks, credenzas, chairs, tables, bookcases, freestanding office partitions and panel systems and other related products. The Company sells its office furniture products to dealers, wholesalers, warehouse clubs, retail superstores, end user customers and federal and state governments. The hearth products segment manufactures and markets a line of manufactured gas-, pellet- and wood-burning fireplaces and stoves, fireplace inserts, gas logs and chimney systems principally for the home, which are sold through a national system of dealers, wholesalers, large regional contractors and Company-owned retail outlets. In May 2004, the Company changed its name from HON Industries, Inc. to HNI Corporation.

Financial Information
For the 39 weeks ended 10/2/04, net sales rose 19% to $1.55 billion. Net income rose 21% to $85 million. Revenues reflect a strong performance in the office furniture and hearth products segments. Net income also reflects decreased freight surcharges and an increase in margins due to cost restructuring initiatives.