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05.09.16 GIVING VOICE TO THOSE WHO CREATE WORKPLACE DESIGN &
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CITED:“DISCOVERY CONSISTS NOT IN SEEKING NEW LANDS BUT IN SEEING
WITH NEW EYES.” —MARCEL PROUST
Vitra From Milan to Chicago
Following on the heels of its remarkable showing at Salone in
Milan, Swiss design company Vitra has big plans for Chicago and
NeoCon 2016. Officeinsight publisher Bob Beck recaps the company’s
Milan event spaces and provides a preview of all that awaits at
NeoCon this year – large-scale creative program announcements, new
work from a host of great designers, and a special off-site
demonstration space for Vitra Retail.
FULL STORY ON PAGE 3…
Montroy Andersen DeMarco Designs Modern Open Of-fices for the
United Nations in NYC
The modern workforce we’re a part of is incredibly mobile, and
some careers and industries are more inclined to this fluid work
style. UNOPS, an operational arm of the United Nations (UN), is an
organization that takes the idea of a mobile workforce to the next
level. In its New York City offices, UNOPS wanted a new space that
would nurture the contemporary way its teams were now working. It
also needed to solve a spatial challenge their teams’ irregular
work schedules presented; the UNOPS per-sonnel include landmine
removal specialists and development experts who frequently leave on
assignments with short notice.
FULL STORY ON PAGE 11…
Kimball Office Introduces Bauhaus-Inspired KORE by Swiss
Designer Daniel Korb
May is ripe with new introductions we’ll soon see in Chicago at
NeoCon 2016, and we’re excited to be able to report on some of the
most exciting news. KORE, launched last week by Kimball Office, is
a clean, modern furniture collection of tables, benching and mobile
cart solutions designed by award winning product designer Daniel
Korb. Designed for simple human needs, KORE was inspired by and
embodies the best of the Bauhaus Move-ment design principles,
experienced through the lens of the 21st Century.
FULL STORY ON PAGE 18…
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an OFS Brands™ company | ofs.com
Slate® Private Office
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companies
Hella Jongerius’ spinning color-wheels in CasaVitra at
Fuorisalone, Milan. Photography courtesy of Vitra
Following on the heels of its remark-able showing at Milan,
Swiss design company Vitra has big plans for Chicago and NeoCon
2016. The trend for the biggest names at the Milan Furniture Fair
(Salone Internazionale del Mobile di Milano, or just “Salone” to
aficionados) is to exhibit at both the official fair on the
outskirts of Milan and then complement that with a space downtown,
often a company’s permanent showroom. This expansion of
design-related events to include downtown venues along with Salone
is now known as “Fuorisalone.”
This year Vitra went all out, hosting a space at the fair and
two Fuorisa-lone spaces. In one of those typically
fabulous spaces in Milan – this one the site of Antonio
Citterio’s former studio – Vitra installed CasaVitra.
Vitra From Milan to Chicagoby Bob Beck
A view of the courtyard of CasaVitra
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CALMS.
UNIFIES. CREATES. AFFIRMS
MOTIVATES.TRANSFORMS.
COMFORTS.
FUNCTIONS.CELEBRATES.
CELEBRATES.EXCITES.CALMS.
DESIGN THAT
North America’s most important design exposition and conference
for commercial interiors.
PRODUCED BY
CONNECTS.CELEBRATES. INFLUENCES.
FOSTERS.
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companies
There was much to be seen at CasaVitra, but the main attraction
was a series of huge ceiling mounted color wheels demonstrating how
various col-ors and materials in the Vitra product lines can work
together. The moving color wheels were one part of a library of
color and material that has been the culmination of 10 years of
work by Hella Jongerius, Vitra’s art director for Colors and
Materials. For a bit of inspiration and just under five minutes of
your billable time, check out this video and save my writing
thousands of hard to follow words: Casa Vitra at Fuorisalone
2016
Then, next door to CasaVitra on Via Maroncelli, its second
Fuorisalone installation was a pop-up shop selling a variety of
Vitra design objects with accessories curated to complement them.
Meanwhile, at its huge stand back at the Salone itself, Vitra
show-
An interior view of CasaVitra
View from inside Vitra’s Pop-up Shop at Fuorisalone, Milan
http://bit.ly/1s2Hjydhttp://bit.ly/1s2Hjyd
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companiescased its many products, including new ones by Jasper
Morrison and the Bouroullec brothers.
It is primarily these new products and a continuation of the
ambitious approach to multiple locations that Vitra is working to
bring to Chicago, just five weeks from now. For starters, some form
of Hella Jongerius’ material library will be avail-able for the
NeoCon crowd to experi-ence, hopefully including her new book.
Starting with its foundational work with Ray and Charles Eames,
Vitra has been a company that has kept a rather rigid stance
regarding the sanctity of the product designer’s original intent
for each product. Sometimes this attitude has meant losing projects
because the project designer wanted certain modifications that fell
outside Vitra’s sense of where the boundary of creative
adaptability fell.
In an attempt to maintain its stan-dards but become more open to
such creative adaptability, at NeoCon Vitra will announce a new
program whereby it will attempt to optimize collaboration with
client project teams – providing direct dialogue
and unprecedented access to Vitra’s top industrial
de-sign talent to custom-develop radi-cally new product
applications on an organizational scale.
In terms of new products in the more typical sense, the company
will be officially launching Konstantin Grcic’s Hack “disruptive”
workstation system that we first saw as a concept at Orgatec 2014
and at NeoCon last year. This year, Hack has matured into a
standard product line ready for order entry and normal production
leadtimes.
You may (or may not) recall that Hack represents the work of
Grcic in collaboration with an un-named Silicon Valley startup
where the primary driver is flexibility. Thus it is available on
heavy “industrial grade” casters, it folds up for easy moving or
storage, and the basic rectangular footprint with panels on three
sides can be con-
The All Plastic Chair (APC) designed by Jasper Morrison
Modular sofa designed for Vitra by Jasper Morrison, as displayed
at the Milan Furniture Fair
A Hack family-portrait showing various adaptable
configurations
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L I V I A indoor & outdoor benchesdesigned by christopher
panichella
srewsna gnihsinruf snoitpo gningised
8 0 0 . 5 8 5 . 5 9 5 7 a r c a d i a c o n t r a c t . c o
m
http://bit.ly/16a1l8h
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companies
A+ DESIGN FOR A+ TEAMSDeskMakers’ customizable casegoods,
tables, and desking offer the ultimate in office design
flexibility. Manufactured and shipped from our factory in Los
Angeles, California. Browse the collection at deskmakers.com or
call us for a quote today.
Come see us June 13 –15, 2016 in showroom 10-154.323.264.2260 |
www.deskmakers.com
verted into sofas and beds and sundry other atypical
applications – perfect for those upstart start-ups. What you’ll see
at NeoCon is some product refinements that bring Hack into the
realm of a specifiable product, even if remaining in a small
market niche.
officeinsight subscribers have clicked on the ad for the
Belleville Chair at a record pace, and NeoCon
attendees will be able to experience it in person. In addition
to the chair, Ronan and Erwan Bouroullec have designed an approach
to a table leg that can be applied to a whole series
The Belleville Chair and Bistro Table at the VitraHaus CaféKaari
shelving and Aalto stools from Artek
http://bit.ly/1IG41lp
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companiesof tables from a simple bistro table to full-on
conference or worktable, to say nothing of a dining table. Chairs
and tables are available in a range of
materials from plastic to wood, and the chairs can be
upholstered in fabric or leather as well. My homerun spotter
instinct kicked in the second I saw the
ad, and I’m looking forward to seeing the family in person.
Vitra now owns Artek, and appar-ently one of its first acts as
the new owner of that historic company was to put the Bouroullec
brothers on the design of a new system of wall-mounted shelving.
Based for support on a simple, yet elegant steel loop, the
resulting product is called Kaari, and once the Bouroullecs arrived
at the design for the support loop, they saw it could also be
applied to a table system. This simple, elegant design strikes me
as completely consistent with the Artek Manifesto of 1936 [see
officeinsight: Artek and the Aaltos: Creating a Modern World].
Vitra fans know that it has had two subsidiary companies –
Vizplay, specializing in custom store fixtures for (mostly)
high-end retail establishments, and Vizona, for the project
manage-ment and production of custom fixtures for “branded” retail
spaces. These two subsidiaries have now been merged into the new
Vitra Retail.
Two product lines of Vitra Retail, Kado and Invisible Wall
System will be shown in an off-site, by-invitation demonstration
space where both retail applications and office adaptations will be
on display. Dubbed “Transversal Elements by Vitra Retail” comprises
wall-mounted and freestanding archi-tectural elements, including
media walls, phone booths, office storage products, column wraps
and space dividers.
It’s an aggressive agenda and should offer NeoCon attendees
something out of the ordinary – with a definite European slant.
Don’t be surprised if you bump into me there.n
The Invisible 6PL wall mount system with integral lighting. One
of Vitra Retail’s Transversal Elements
Tranversal Elements
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v
Introducing the Belleville Chair and Belleville Armchair.
www.vitra.com/bellevillechairDeveloped by Vitra in Switzerland,
Design: Ronan & Erwan BouroullecStarting at $370 list
Meet your rep. Request a sample chair. Contact
[email protected] or +1 212.463.5700.
http://bit.ly/22r6N8E
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a&d
A multi-purpose lounge provides a new space for UNOPS staff to
work, relax and socialize. Photo: by Ajit Menon
The modern workforce we’re a part of is incredibly mobile, and
some careers and industries are more inclined to this fluid work
style.
UNOPS, an operational arm of the United Nations (UN), is an
organization that takes the idea of a mobile workforce to the next
level. Providing logistical, technical, and man-agement knowledge
and support for the UN, many of the UNOPS’ 7,000+ personnel are
spread across 80 countries and are busy working on multiple
projects around the world.
In its New York City offices, UNOPS leadership wanted a new
space that would nurture the contemporary way its teams were now
working. It also needed to solve a spatial challenge their teams’
irregular work schedules presented; the UNOPS person-nel include
landmine removal specialists and development experts who frequently
leave on assignments with short notice.
NYC-based A&D firm Montroy Andersen DeMarco (MAD-GI)
designed the UNOPS’s new $2.6 million, 15,000 square foot office
and operations center – a significant departure from the UNOPS’
previous NYC workspace.
“They came to us with a request to change to open plan, and this
was a very big cultural change for their organization and the way
they work,” said Shauna Dack, interior design-er at MADGI. “People
can shy away from that big a change, and the one thing we tried to
do from the very beginning was to communicate closely with the UN
staff through each phase of the project.”
Influenced by the UNOPS headquarters in Copenhagen, Denmark, a
new open layout would reflect a shift in con-ceptual thinking about
what the NYC office could be – from offering each UN team member
“ownership of individual space” to that of “ownership of entire
space.” The bulk of the office is now dedicated to shared
amenities.
The project team removed traditional private offices and
cubicles, and introduced a 3,700 square foot open work area with 70
sit-to-stand Haworth workstations, six 2 to 3 person carrels, and a
handful of soundproofed offices for conference calls, meeting
spaces or individual office space on an as-needed basis.
Montroy Andersen DeMarco Designs Modern Open Offices for the
United Nations in NYCby Mallory Jindra
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a&d
A conference suite, divisible from one large boardroom for 50
into three separate smaller conference spaces, provides the staff
with tailoring options; two additional enclosed meeting rooms for
up to 6 people and numerous touchdown work and collaboration areas
round out the design layout. Meeting spaces feature extensive
audiovisual systems allowing for tele-conferencing with coworkers
and other partners around the world.
The new UNOPS workspace offers its staff many amenities that
were not available in its old offices. Located on the 14th floor at
708 Third Avenue in Manhattan, the new full-floor offices offer
employees 3 outdoor spaces to relax or hold meetings in – a big
upgrade from the UN’s old digs at the Chrysler Building.
A large multi-purpose lounge area and pantry provide new spaces
for employ-ees to work, relax and socialize in. A 150
Architect Montroy Andersen DeMarco has completed the $2.6
million, 15,000 square foot office and operations center of the
United Nations Office for Project Services (UNOPS) in Manhattan.
Photo: by Ajit Menon
UNOPS’ 3,700 square foot open plan office area with 70
workstations features adjustable height desks and a LED lighting
system that adjusts to the amounts of natural daylight harvested
from multiple windows. Photo: by Sasha Maslov
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S I L I C A WA LT Z
Made with 100% Silicone, Ink Erasable with Water, Greenguard
Certified
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a&d
square foot wellness/meditation/parent-ing privacy room features
dimmable lights and furniture you can melt into. The office is also
equipped with a shower and lockers for employees heading to or
returning from field assignments.
MADGI selected neutral finishes with accents of blue in
recognition of the UNOPS’s place in the greater UN family of
organizations. Light wood floors and glass divider walls inject a
modern, transparent quality – some-thing the UNOPS sought to
maximize in its new domain.
During furniture showroom tours, UN leadership expressed a
preference for solutions centered on practical-ity and flexibility.
The space features Haworth office furniture, along with Arper and
Design Within Reach lounge and residential style furniture.
MADGI’s design concept provided soundproofed booths for small
meetings, quiet work, and conference phone calls. Photo: by Ajit
Menon
Floor plan for the new UNOPS offices in NYC.
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a&d“They wanted to be able to pull
apart the furniture to suit their needs at the time, and
eventually chose to work with the Haworth solutions,” noted Ms.
Dack.
Additional selections include:> Tagwall glass office front
system>Modernfold Acousti-seal system 932
paired panel modular wall with a white board finish on all
modular surfaces
>Filzfelt acoustical panels in the privacy/meditation
room
>Avant Contract carpet tile in the Glow style and Boulder
color
>Forest Stewardship Council-certi-fied European White Oak
wide plank hardwood floor by USF Contract, Cita-del collection,
Bastion series, Chateau color, in the reception
>Schonox poured resilient flooring>gypsum board ceilings
in reception
and main conference room>Armstrong drop acoustical
ceilings
in offices and meeting rooms
A large multi-purpose lounge area and pantry provides an
additional space for informal social events, presentations and
meetings as well as access to an outdoor terrace. Photo: by Sasha
Maslov
The new UNOPS office houses a conference suite that is divisible
from one large boardroom for 50 people into three separate smaller
conference spaces. Photo: by Ajit Menon
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a&dThe design team made many deci-
sions with a focus on sustainability – a high priority for both
MADGI and the UN. The new space is designed to meet LEED standards,
should the UN pursue accreditation.
MADGI situated the largest and most frequently occupied open
office area nearest to windows to provide natural light for
employees and reduce artificial lighting energy use. And, as part
of an energy management system that harvests natural daylight, a
linear LED lighting system includes lighting
fixtures that dim when the daylighting is particularly bright in
a space.
In addition to past projects, MADGI is currently designing two
additional spaces for the United Nations in Man-hattan – the UN
Women office and the UN Development Programme (UNDP).
“We spend a good amount of time working with nonprofits, said
Ms. Dack. “And both types of clients are concerned with
functionality on many levels, but nonprofits are especially tuned
into this.”
UNOPS Project Manager Geoff
Graves, who oversaw the design and construction efforts, was
instrumental in bridging the work between MADGI design and UNOPS
teams.
“This transition required an exten-sive collaboration with the
staff and consultants, in order to ensure their needs were properly
met from the early design phase onwards,” said Mr. Graves, in the
project’s release announcement. “In addition, we had to ensure that
the design achieved all of its functional and sustainability goals
within the defined budget.” n
http://bit.ly/1sVMPMx
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www.ERGinternational.com
franky slim lounge
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product design
Architect and designer Daniel Korb employed Bauhaus style
principles to design KORE, a comprehensive furniture collection for
Kimball Office.
The challenge in designing a new piece of furniture is always to
stay fresh and to offer something, well, new to customers who
increasingly need their furniture to do more for them.
KORE, launched this week by Kimball Office, is a comprehensive
furniture collection designed by award winning product designer
Daniel Korb. Designed for simple human needs and to add value to
both work and living environments, KORE was inspired by and
embodies the best of the Bauhaus Movement design principles,
expe-rienced through the lens of the 21st Century.
KORE is composed of conference, occasional, mobile and standing
height tables; mobile cart solutions; and benching systems complete
with
Kimball Office Introduces Bauhaus-Inspired KORE by Swiss
Designer Daniel Korbby Mallory Jindra
KORE: Benching
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product designstorage, privacy screens and technol-ogy options.
The product portfolio also encompasses all necessary elements for
privacy, media integration, and sharing and learning solutions.
The collection was imagined for of-fices, conference rooms, work
lounges and learning environments; and while that may seem like a
tall order to fill with just one collection, the simplicity of KORE
indeed makes this possible.
Bauhaus Design found its beginnings after World War One, a time
when people were looking for something that would move them forward
into a light, new world. In this way, the Bauhaus Movement embodied
a changing world that incidentally triggered a chang-ing
environment. In designing KORE, Mr. Korb employed Bauhaus Design’s
modernity and simplicity of structure to 21st century needs. KORE:
Learning solutions
KORE: Conference
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Moderna Collection
Click to visit us online.
Club, settee, sofa and quad formats, with companion tables.
Stand-alone or fully modular, all in plain, quilted or buttoned
backs.
∆
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product design
“We wanted to apply Bauhaus thinking to move forward. Today,
that changing world is driven by technol-ogy, and human beings have
to adapt to that with new environments,” said Mr. Korb. “Create the
right environ-ment, and you create the right state of mind.”
As an architect, Mr. Korb says he designs from a holistic point
of view:
“We don’t use furniture in isolation, on its own. Furniture is
architecture on a different scale. It is structure, surface, form,
volume, hue.”
Mr. Korb designed KORE to be rooted in simplicity of form:
“It’s not another bench – the bench was not a starting point.
Simplicity was the starting point. My thinking is very basic. If
something is not simple,
KORE: Conference
KORE: Benching
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product design
it doesn’t happen. If it’s too complex, people won’t use it. We
often forget or overlook the basics.”
But, simplicity is a huge challenge, and it competes with many
other fac-tors.
“You want choices and diversity as well as simplicity, and those
are con-tradicting targets.”
Aesthetically, KORE is clean and malleable – a collection that
can shift and drop into new and existing envi-ronments with ease.
In shaping KO-RE’s aesthetic, Mr. Korb focused less on the Kimball
portfolio (although it does fit quite seamlessly), and instead
zeroed into designing for the customer – and every type of
customer.
“The collection has a certain time-less, modest quality so that
it inte-grates and adapts well,” said Mr. Korb. “A table from KORE
will fit well in a
KORE: Tables
KORE: Table detail
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product designmonastery in Germany, an old brew-ery, or a modern
office.”
KORE’s comprehensive makeup enables users to adapt and change
their environments to suit their needs. The collection’s tables are
about as versatile as you can get – designed for conferencing,
benching, learning and lounge functions, and available in six
tabletop shapes, six frames, a variety of heights (occasional,
working and standing-height), and mobile options.
Mr. Korb distinguishes KORE as the strongest structured benching
system he’s designed thus far.
“It’s important to separate structure from surface – the surface
must come second. Part of the challenge is strip-ping down the
structure so that it’s most efficient. People see new bench-ing all
the time, but what’s behind the design, and underneath the bench,
can be surprising.”
Mr. Korb also noted the importance of injecting added value into
a new design.
“That’s an abstract concept, but you must be able to layer
values on top of each other. It must look great, work great, and be
sustainably made.”
How do you prioritize dozens of competing needs – privacy,
flexibility, collaboration, focus – in designing new solutions?
“Forget furniture for a moment, and
focus on the environment. There are hundreds of needs, and they
all make sense. The needs will change, and so you must think about
a full range of scenarios. Enable the user to create their own
environment.
To that end, KORE’s mobile options are super fresh. The
collection in-cludes 10 types of mobile cart options
KORE “Thought Starters”: Inspiration on the Kimball Office
website
KORE: Table tech detail
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05.09.16 GIVING VOICE TO THOSE WHO CREATE WORKPLACE DESIGN &
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product designwith a range of built-in functions, in-cluding
seating, storage, markerboard, media screen capability, wardrobe,
and basic privacy screen options.
Mr. Korb is a person equally full of conceptual thinking and
real-world practicality. He believes furniture is much more than a
tool, but his under-standing of that notion pulls from an innately
pragmatic place:
“Our first layer of contact is clothing, and the second layer we
come into contact with is furniture.”
If you have a chance to chat with Mr. Korb at the Kimball Office
showroom during NeoCon, do take advantage. Talk to him about KORE,
about design, and about the human condition.
“I think I am not an architect of Switzerland, but an architect
of happiness.” n Daniel Korb, architect and designer of KORE for
Kimball Office
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r-d connectionRESEARCH-DESIGN CONNECTIONBenefits of Enhanced
Ventilationby Sally Augustin, Ph.D.
There are clear benefits to enhanced building ventilation.
MacNaughton and colleagues report that they “estimated the energy
consumption and associ-ated per building occupant costs for office
buildings in seven U.S. cities, representing different climate
zones for three ventilation scenarios (stan-dard practice (20
cfm/person), 30% enhanced ventilation, and 40 cfm/person) and four
different heating, ventilation and air conditioning (HVAC)
system strategies (Variable Air Vol-ume (VAV) with reheat and a
Fan Coil Unit (FCU), both with and without an energy recovery
ventilator)…[and] estimate[d] the economic benefit of increased
productivity associated with increasing ventilation rates.”
The team learned that, “Doubling the ventilation rate from the
American Society of Heating, Refrigeration and Air-Conditioning
Engineers minimum cost less than $40 per person per year in all
climate zones investigated…The same change in ventilation improved
the performance of workers by 8%, equivalent to a $6500 increase in
em-ployee productivity each year. Reduced absenteeism and improved
health are also seen with enhanced ventilation.” n
P. MacNaughton, J. Pegues, U. Satish, S. Santanam, J. Spengler,
and J. Allen. 2015. “Economic, Environ-mental and Health
Implications of En-hanced Ventilation in Office Buildings.”
International Journal of Environmental
Research and Public Health, vol. 12, no. 11, pp.
14709-14722.
Sally Augustin, PhD, a cognitive sci-entist, is the editor of
Research Design Connections (www.researchdesigncon-nections.com), a
monthly subscription newsletter and free daily blog, where recent
and classic research in the social, design, and physical sciences
that can inform designers’ work are presented in straightforward
language. Readers learn about the latest re-search findings
immediately, before they’re available elsewhere. Sally, who is a
Fellow of the American Psycho-logical Association, is also the
author of Place Advantage: Applied Psychol-ogy for Interior
Architecture (Wiley, 2009) and, with Cindy Coleman, The Designer’s
Guide to Doing Research: Applying Knowledge to Inform Design
(Wiley, 2012). She is a principal at Design With Science
(www.designwith-science.com) and can be reached at
[email protected].
MATERIAL OF THE WEEK
MC# 6773-19DESIGNBOARD: These durable high-density polyethylene
(HDPE) sheets can be used as wood or metal alternatives. The HDPE
will not rust, corrode, rot, delaminate, splinter or swell. It is
stiff, easy to fabricate, has excellent scratch resistance, will
not delaminate, does not absorb moisture and is UV resistant. The
sheets, by CPG International, are available in five colors:
Stainless Steel, Nickel, Bronze, Java and Shale, and three
textures: Rotary Brushed, Hammered and Orange Peel. Appli-cations
include indoor or outdoor cabinetry, furniture, signage and metal
and wood replacements..
This column is published in collaboration with Material
ConneXion. For more information regarding the material previewed,
please contact Michael LaGreca at [email protected].
T: 212.842.2050.
file:///Users/markdrake/Dropbox/officeinsight/OI050916/Articles/
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file:///Users/markdrake/Dropbox/officeinsight/OI050916/Articles/
file:///Users/markdrake/Dropbox/officeinsight/OI050916/Articles/
file:///Users/markdrake/Dropbox/officeinsight/OI050916/Articles/
mailto:[email protected]
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05.09.16 GIVING VOICE TO THOSE WHO CREATE WORKPLACE DESIGN &
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officenewswirePRODUCT INTROS
>Cortina Leathers added the all-new Vernazza collection and
significantly expanded its popular Vespa line. The sun-washed
pastels on homes that dot Italy’s Liguria coastline gave
inspiration for the Vernazza color palette. In 52 colors,
Vernazza’s luxurious hand accompanies its light texture and
slightly polished surface. The popular Vespa collection, a
distinctive tone-on-tone tipped leather, is available now with 15
fresh, new designer-focused colors added to the line. The Italian
countryside’s warm hues reappear as rich accents and sensual
neutrals in this updated color palette, all with Vespa’s soft,
supple hand. Only European hides, tanned by the finest Italian
tanneries, meet Cortina’s exacting speci-fications for Vernazza and
Vespa leather. Read More
>HighTower Group intro-duced six new products, including new
lounge seating and two table collections. “With every new product
launch, HighTower continues our focus on offering unique,
well-designed products,
developed to elevate the way people work and learn today, from
up-and-coming Interna-tional industrial designers,” said HighTower
Founder Scott Hartkopf. “With this product release, we collaborated
with designers to bring an interesting mix of materiality and
functionality, combined with exquisite details to help bridge the
gap between the home and the workplace.”
The Spring product launch includes:
-Chester by Kåre Frandsen, a fun and modern twist on the classic
Chesterfield chair. The wood base adds warmth and character, while
the wide seat enables range of motion for the user.
-Mama chair, companion to the Papa chair by former Swedish
interior architect turned industrial designer Jo-nas Lindvall. Mama
and Papa are inspired by the Danish Golden Age and Hemingway’s
grandiosity.
-Bello Table Collection by Most Modest includes cof-fee and side
tables offering simplicity with unexpected details. Crafted in the
U.S., Bello leverages a colorful metal support and a top knife edge
detail that provides a soft curve.
-Tombolo Tablet Arm by Most Modest, featuring integrated tablet
cradle to keep mobile displays upright and visible and 360-degree
swivel to move it out of the way when needed.
-Tombolo Cubby by Most Modest. Tombolo Sectional cubbies, now
available as free-standing units, allow design-ers to do even more
with the versatile, mid-century modern style of the Tombolo
Collection.
-Aeon Rocket by Morten Voss, a series of beautiful, harmonious
and striking light pendants. Aeon is said to be the first pendant
in history to take full advantage of the luminous qualities of
metal and polypropylene in a single design. The gauzy lower shade
consists of eight long bands, carefully woven together to create
round openings, allowing the light to stream through, unhindered.
Read More
>Pablo Designs unveiled a new range of lighting for 2016. In
this new collection, Pablo Pardo collaborated with furniture and
product designer John August, known for his innovative and
technically precise design. These two de-signers, with very
different and expressive styles, captured the essence of functional
yet sculptural lighting.
-Giraffa Desk Lamp (pictured) is smart and playful, with an
expressive purity of form and warm, tactile finishes that give the
object a personal feel. A 360° rotating shade combined with an
angled post provides multiple lighting pos-
For complete releases, visit
www.officeinsight.com/officenewswire.
Cortina Leathers Vernazza and Vespa
HighTower Group L-R Top: Aeon Rocket, Chester. Center: Mama,
Bello Table. Bottom: Tombolo Tablet Arm, Tombolo Cubby
http://www.officenewswire.com/http://www.officenewswire.com/index/rsshttps://officeinsight.com/officenewswire/cortina-leathers-announces-new-collection-updated-vespa-collection/https://officeinsight.com/officenewswire/hightower-group-announces-release-six-new-products-designers-around-world-enhance-modern-contract-furniture-collection/http://www.officeinsight.com/officenewswire
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05.09.16 GIVING VOICE TO THOSE WHO CREATE WORKPLACE DESIGN &
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officenewswiresibilities, allowing this petite lamp to cast both
direct and ambient light. Giraffa’s warm and fully dimmable LED
light source is rated for 50K hours. “Giraffa was born from the
playful experimentation of in-tersecting cardboard tubes,” said Mr.
August. “Even though the initial explora-tion was about the
geometric relationships between these tubes, and the interesting
ways the tubes “mitered” together and positioned the light source,
a distinct per-sonality began to develop.”
-Vella Collection is a dynamic family of indoor luminaires
designed to be completely adjustable via two indepen-dently
swiveling louvers, inviting the user to sculpt light and shadow.
Vella’s sweeping curved aluminum form subtly captures and releases
light from within to wash wall and floor. The lamp employs
warm-white LED technology, with full range dimming
capabilities.
Both Giraffa and Vella will be showcased at Pablo Design’s booth
(1808) at ICFF May 14-17 in NYC. Read More
NOTEWORTHY>Amy Hufford, Student IIDA, is the 2016 IIDA
Student of the Year. The Student of the Year award recognizes an
IIDA student member whose insight, involvement and leadership have
significantly impacted his or her school’s interior design program.
Ms. Hufford will be presented with $5,000, courtesy of OFS Brands,
and celebrated at the IIDA Annual Meeting on Sunday, Jul. 12, at
the Museum of Contemporary Art in Chicago.
“Amy is a talented designer whose passion, drive, and enthusiasm
for the industry are clear in her schoolwork, her design portfolio,
and her extracurricular activities. Her projects portray innovation
and creative execution with an eye toward form, function, and
usability,” said IIDA Vice President and CEO Cheryl S. Durst, Hon.
FIIDA, LEED AP. “Moreover, Amy brings com-passion to a profession
that is ultimately about the health and wellness of the people who
inhabit the spaces designers create. I have no doubt Amy will
continue to make an impact on the profession.”
A senior in the interior design program at Philadelphia
Uni-versity, Ms. Hufford is presi-dent of the University’s IIDA
Campus Center. In this role, she has overseen the devel-opment of
multiple programs that connect students to the interior design
profession. She has been instrumental in organizing the IIDA
Product
Showcase, visits to area de-sign firms, various fundrais-ers,
and a new mentorship program. Since 2013, she has been selected to
repre-sent Philadelphia University’s Interior Design program in
several competitions, most recently placing second at the IIDA
Design Bowl. Outside of school, she is an interior design intern at
Meyer Design Inc., and works as an aide at ManorCare Health
Services. Read More
>Fire Farm Lighting’s Belle light was honored with the Eric
Engstrom Best of Competition Award in the 20th annual IIDA/HD
Product Design Competition. Presented in partnership with
Hospitality Design magazine, the competition – open to exhibitors
at HD Expo 2016 – honors innovation, function-ality and aesthetic
advance-ments in product design for the hospitality industry.
Awards were presented in 18 categories. The 2016 jury panel
included Susana Covarrubias, IIDA, studio director | design
principal,
Gensler; Patricia Rotondo, IIDA, design principal, Chip-man
Design Architecture; and Adam Stover, IIDA, NCIDQ, principal |
interior architect, POPULOUS. “The products showcased in the
IIDA/HD Product Design Competition have once again illustrated how
the hospitality industry is pushing the boundaries of in-novation,”
said Ms. Covarru-bias on behalf of the jury. “We were particularly
impressed with Belle, the Best of Com-petition winner, by Fire Farm
Lighting. The craftsmanship, beauty and sheer presence of this
lighting product elegantly marries vintage form with modern
function.” Read More
>Studio O+A is the recipient of the 2016 National Design
Award for Interior Design from Cooper Hewitt, Smith-sonian Design
Museum. Now in its 17th year, these awards recognize excellence and
innovation across a variety of disciplines in 11 catego-ries. Award
recipients will be honored at a gala dinner Oct. 20 at the Arthur
Ross Terrace and Garden at Cooper Hewitt. In addition to Studio O+A
for Interior Design, this year’s recipients are Moshe Safdie for
Lifetime Achievement; Make It Right for Director’s Award; Bruce Mau
for Design Mind; Center for Urban Pedagogy for Corporate &
Institutional Achievement; Marlon Blackwell Architects for
Architecture Design; Geoff McFetridge for Com-munication Design;
Opening Ceremony for Fashion Design; Tellart for Interaction
Design; Hargreaves Associates for
Pablo Designs GIRAFFA
Amy Hufford IIDA 2016 Student of the Year
http://www.officenewswire.com/https://officeinsight.com/officenewswire/pablo-designs-icff-new-product-launching/https://officeinsight.com/officenewswire/amy-hufford-2016-iida-student-year/https://officeinsight.com/officenewswire/iida-announces-winners-iidahd-product-design-competition/
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05.09.16 GIVING VOICE TO THOSE WHO CREATE WORKPLACE DESIGN &
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officenewswire
Landscape Architecture; and Ammunition for Product Design.
“The National Design Awards are a vibrant component of Cooper
Hewitt’s educa-tion arm through which the museum engages year round
with design lovers of all ages across the United States and
throughout the world,” said Cooper Hewitt Director Caroline
Baumann. “This year’s class of winners reflect design’s remarkable
empa-thy for contemporary social concerns: from promoting workplace
productivity to pre-serving vernacular traditions to encouraging
civic engage-ment. These designers and design firms cross
disciplinary boundaries, explore innova-tive materials and develop
new models of problem-solv-ing in pursuit of these goals.” Read
More
ENVIRONMENT>Student architects from Carnegie Mellon won the
top prize of Most Innovative and the People’s Choice Award in the
Flux Emerging Architect’s Design Competition. Focused on
sustainability in architec-ture, the global design contest was
sponsored by Flux, a technology company born out of Google’s
Moonshot factory to find ways for technology to prepare the AEC
industry for the rapid urbanization and coinciding resource
challenges we are facing. “Ecoschool,” the winning project, was
inspired by the idea that “out of sight, out of mind” is not a good
strat-egy to encourage conscious consumerism of natural resources
and energy. In the developed world, people take for granted
resources they use on a daily basis, but in a world of diminishing
resources, that perception needs to change. What if buildings were
con-structed so that basic systems such as water and heating were
built on the outside of the buildings? Would we all be more
conscious consum-ers if resources were exposed
in a more obvious way? Ecoschool exposed all the basic systems
of a housing complex on the outside of the building so that the
systems were no longer just functional, but also expressive of the
connectivity between people living near each other, and to each
individual’s dependence on those resources on a daily basis. Read
More
EVENTS>Arborite teamed with the design duo behind LA-based
Ouli to create an exhibit for Sight Unseen OFFSITE’s 2016 edition.
For this play on a dining set, designer Brooke Intrachat focused on
the idea of reinvention, asking the question does progress exist
within aesthetics? Us-
Studio O+A 2016 National Design Award in Interior Design from
the Cooper Hewitt, Smithsonian Design Museum Yelp offices designed
by O + A Photo credit Jasper Sanidad
Carnegie Mellon students win Flux Emerging Architect’s Design
Com-petition with Ecoschool
Arborite + Ouli Sight Unseen OFFSITE
http://www.officenewswire.com/https://officeinsight.com/officenewswire/studio-oa-receives-17th-annual-national-design-award-interior-design-cooper-hewitt-smithsonian-design-museum/https://officeinsight.com/officenewswire/student-architects-carnegie-mellon-win-global-design-contest-focused-sustainability-architecture/
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05.09.16 GIVING VOICE TO THOSE WHO CREATE WORKPLACE DESIGN &
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officenewswireing a versatile product like laminate, the Ouli
designers created thought-provoking pieces intended to turn design
standards on their heads. The exhibit consists of a table, bench,
and chair, as well as a sculptural “H” in homage to Guy de
Cointet’s preparation stool. The use of laminate as surface
“uphol-stery” allows each piece to take on its own character and
personality based on the colors and finishes selected. The bench
features multi-colored sides, showcasing Arborite’s bolder
selection of laminate colors, and a whim-sical curved back
reminiscent of Matisse’s “Oasis” cutouts. The minimal chair
features a crisp white and wood color palette with a back composed
of two rods. The table is also a standout piece, with half the legs
featuring a traditional composition and the other two undulating as
one piece con-necting across the underside. Arborite President
Salvatore Rivera noted, “Laminate is a supremely versatile
material,
and Ouli is a boundary-push-ing studio with impressive product
design experience. Their creative use of laminate will cast the
material in a new light for many viewers. Such a thoughtful
commentary on design is the perfect addition to Sight Unseen
OFFSITE, a show known for its provoca-tive and enlightening
exhibi-tions.”
Sight Unseen OFFSITE is pro-duced and curated annually by Monica
Khemsurov and Jill Singer of Sight Unseen to coincide with ICFF and
NYCx-DESIGN. It will be held May 13-16 at The Grace Building, 15th
floor. Following the exhi-bition, all of the pieces will be on sale
through Ouli Studio. Read More
>Ceramics of Italy will again host a multi-brand pavilion at
NYC’s Javits Center during ICFF 2016, May 14-17. Sponsored by
Confindustria Ceramica (the Italian As-sociation of Ceramics) and
the Italian Trade Commission, the Ceramics of Italy pavilion
(booths 1748 + 1660) will display a range of products from 19
premier Italian ceramic companies. Visitors will have a chance to
ask questions and gain insight into the industry’s newest
advancements in technol-ogy and design. Participating companies
include Ascot Ceramiche, Atlas Concorde, Ceramiche Refin, Cerdisa,
Cooperativa Ceramica d’Imola, Emilceramica, Fap Ceramiche, Fincibec
Group, Florim, Gigacer, Gruppo Beta, Italgraniti – Impronta
Cerami-che, Kale Italia, Marca Corona 1741, Mirage, Ornamenta,
Settecento Mosaico d’Arte, Simas and Vallelunga & Co., with
several representing mul-tiple brands. “With erasable tiles, 2cm
outdoor pavers, slim sanitaryware and more on display, Ceramics of
Italy will continue to demonstrate its innovative offerings to the
design and architecture com-munity,” says Vittorio Borelli,
president of Confindustria Ceramica.
This year, Ceramics of Italy will offer a new program for
architects and designers: guided tours of the Italian pavilion and
an Italian snack on Saturday, Sunday and
Monday (May 14-16) at 1:00 PM. Attendees can register to be
entered into a drawing to win a CEU-accredited trip to Italy for
Cersaie – the world’s largest exhibition of ceramic tile and
bathroom furnishings. Read More
>Designtex is collaborating on an architectural assem-blage
with Ecovative Design, Harry Allen and Pfeiffer Lab at Design
Pavilion, May 7-11, in celebration of NYCxDESIGN. An immersive
urban experience seeking to engage the community and promote the
power of design, Design Pavilion will feature sustainable products,
includ-ing Designtex fabrics and architectural birch plywood panels
from Designtex Sur-face Imaging. Ecovative has created MycoFoam™
and MycoBoard™ interior acous-tic tiles, featuring
environ-mentally-friendly fabrics from Designtex. Ecovative’s
Cradle to Cradle Gold™ certified Mushroom® Materials meet the
function and sustainability needs of the architecture and design
community.
Harry Allen’s Weave (pic-tured) features Designtex Array, one of
the seven
Ceramics of Italy at ICFF Designtex Design Pavilion
http://www.officenewswire.com/https://officeinsight.com/officenewswire/arborite-ouli-team-edgy-exhibit-sight-unseen-offsite/https://officeinsight.com/officenewswire/graphic-tiles-sleek-sinks-ceramics-italy-icff-may-14-17/
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officenewswireClimatex® collection styles developed in
collaboration with William McDonough and based upon his concept of
“waste = food.” Array is a biological-nutrient uphol-stery that can
break down and return safely to the earth after its useful life,
becoming nutrient-giving “food.” Offered in a total of 21
colorways, it is Cradle to Cradle™ Gold Certi-fied. Inspired by
Designtex’s sustainable practices as well as Ecovative’s great
environ-mental platform, Harry Allen sought to create a completely
compostable acoustic tile for Ecovative Interiors. He achieved his
goal by pair-ing Array with Ecovative’s MycoFoam, a
formaldehyde-free engineered wood. The materials are joined with an
equally innovative and envi-ronmentally sound soybased adhesive
called Soy Skins, manufactured by e2e.
Eric Pfeiffer for Pfeiffer Lab set out to create a beautiful and
useful acoustic tile for Ecovative Interiors. Inspired
by nature, Eric designed Wall Flower, a collection of circular
acoustic tiles featuring the Designtex fabric Pigment. Pigment is
100% wool and biodegradable. Each indepen-dent acoustic tile, which
can be arranged into countless compositions, is constructed of
Ecovative’s MycoBoard, a healthy, sustainable engi-neered wood
product that uses mycelium as a natural resin, and covered in
Pig-ment. Read More
>Foscarini will host “Real-ity or Illusion?” – a cocktail
event at its Spazio Soho showroom on Saturday, May 14, 6:00 p.m.
The showroom will showcase new products in addition to an immersive
installation by Ferruccio Laviani. Visitors will experi-ence
multicolored graphic explosions and extra-large versions of
Foscarini’s most well-known lights. In many ways it’s reminiscent
of an Ames room that gives off an optical illusion and challenges
perspectives. Read More
>IA Interior Architects will showcase services and proj-ects
at the Shoptalk Confer-ence in Las Vegas May 15-18. This is the
inaugural year of Shoptalk, which is billed as the “tech event for
nextgen commerce” and features keynotes from leading CEOs and
entrepreneurs, including several IA clients such as Jet.com,
Combatant Gentlemen, Raise, and Ulta. With many e-commerce
companies looking to develop brick-and-mortar showrooms and
workplaces, IA collaborates with its clients to develop
programming, brand positioning, concept development, and
implemen-tation.
“There have been fundamen-tal shifts in how we live, work, shop,
eat, socialize,” said IA Global Project Director of Retail Anthony
Simon. “As ar-chitecture and design profes-sionals that cater to
creating environments that foster this behavior, we must continue
to push our boundaries in our process.”
While at Shoptalk, IA (booth #1219) will engage attendees with
live VR demonstra-tions showing multiple retail environments and
how IA leverages data in the vir-tual environment. Through a
Revit-based platform, visitors can experience the benefits of VR as
it applies to the client’s business model; bringing cost, time and
“visioning” efficiencies to projects and clients.
“As our clients have inter-acted and responded to the tools of
VR, we have seen how useful it is in breaking down barriers in
architecture and design, bridging the divide between the concept
and the finished project,” said Guy Messick, IA’s director of
design intelligence. “We discovered from the first VR demonstration
that this tech-nology was not simply a visu-alization tool, but a
significant change in how our clients, and their customers,
interact with design and place. Simply put: It changes everything.”
Read More
Foscarini + NYCx DESIGN
IA Interior Architects at Shoptalk
http://www.officenewswire.com/https://officeinsight.com/officenewswire/designtex-collaborates-ecovative-design-harry-allen-pfeiffer-lab-design-pavillion/https://officeinsight.com/officenewswire/reality-illusion-foscarini-nycxdesign/https://officeinsight.com/officenewswire/ia-interior-architects-exhibiting-shoptalk-2016/
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05.09.16 GIVING VOICE TO THOSE WHO CREATE WORKPLACE DESIGN &
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officenewswire>IIDA New York Chapter on Monday, May 9 will
present Pioneering Design Uptown with BIG: HOT TO COLD. Through the
scorching heat of the Arabian Desert to the unforgiving chill of
the Finnish tundra, Bjarke Ingels Group Partner Kai-Uwe Bergmann
will show how design solu-tions are shaped by their cul-tural and
climatic contexts to unlock the immense possibili-ties of adaptive
architecture. The central challenge is to mitigate the climatic
extremes for hospitable human life, while finding solutions that
can be both economically and environmentally profitable. HOT TO
COLD is a search for a pragmatic utopia, shaped as the kind of
world we wish to inhabit. The event will take place 6:00-9:00 p.m.
at MIST Harlem, 46 W 116th Street, NYC. It offers continuing
edu-cation credits of 0.1 IDCEC CEU and 1.0 AIA LU. Event Sponsors
are Aristeia Metro, Boss Design, Creative Materi-als Corporation,
Fullbright Glass Boards, Green Hides Leather Studio, Tom McCar-thy
Associates and Sandler Seating. Read More
>Radical Innovation will unveil top new ideas from its 2016
call for entries hosted at the Design Pavilion during NYCxDesign on
Saturday, May 14, 2:30-3:30 p.m. The event will highlight the
latest trends and concepts for hospitality and introduce some of
the talent scouts looking for radically innovative ideas. Speakers
will include Edwin Hendriksen, SVP De-velopment and Investments,
Citizen M; Jim Woods, presi-dent and COO, The Bowls – Brooklyn
Bowl; Matt Turner, editorial director, Sleeper magazine; Larry
Spelts, vice president, Business Development, Charlestowne Hotels;
Jon Kastl, principal, Champalimaud Design; John Hardy, CEO, The
John Hardy Group and founder, Radical Innovation; and Moderator
Tara Mastrelli, president, Stu-dio Tano. Taking place at The Cooper
Union’s Frederick P. Rose Auditorium, 41 Cooper Square, the event
is free and open to the public with RSVP. Read More
http://www.officenewswire.com/https://officeinsight.com/officenewswire/join-us-may-9th-pioneering-design-uptown-big/https://officeinsight.com/officenewswire/radical-innovation-nycxdesign/
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05.09.16 GIVING VOICE TO THOSE WHO CREATE WORKPLACE DESIGN &
FURNISHINGS PAGE 33 OF 42
businessRAYMOND JAMES BRIEF 5.2.16BIFMA: March Orders -3%;
Shipments +3%
Analysts: Budd Bugatch, Bobby Griffin, David Vargas
>On Friday evening, the Business and Institutional Furni-ture
Manufacturers Association (BIFMA) released its market statistics
for March 2016. The month’s order and shipment statistics were
derived from a sample of 32 companies in the contract office
furniture industry, the combined shipments of which account for
~75% of industry volume.
>BIFMA estimates March orders declined 3% year-over-year,
down versus the 2% decline reported in February. The prior-year
hurdle for March was more difficult relative to February (March
2015 orders increased 12% vs. 7% in February 2015). Thus, the
two-year stacked order growth rate for March 2016 was +9%, compared
to +5% in February 2016. Recall that BIFMA uses the reported
companies’ growth rates (~75% of total industry volume) to estimate
the overall U.S. industry vol-ume and growth (orders and
shipments). At times, the reported combined growth rates from the
U.S. reporting companies (32 total companies) can differ slightly
from the overall estimated industry volume. March orders increased
~10% sequentially, versus the 20-year median February to March
percentage change of +12%. Trailing 12-month (TTM) orders totaled
$10.04 billion, ~0.8% above the prior year. TTM orders are ~32.7%
above the February 2010 $7.57 billion trough.
>According to BIFMA, March shipments increased ~3% y/y,
versus the 2% increase reported last month. The shipment prior-year
comparison for March was easier relative to February (March 2015
shipments increased 7% vs. 10% in February 2015). Consequently, the
two-year stacked shipment growth rate for March 2016 was ~10%,
compared to ~12% in Febru-ary 2016. TTM shipments totaled $10.29
billion, up 3.4% year-over-year and ~35.0% above the April 2010
trough of $7.62 billion.
>Thoughts on March’s numbers and current industry trends.
Admittedly, today’s economic environment is somewhat less certain
than it was a year ago, and the year-over-year de-cline in BIFMA
order growth rates over the last four months understandably have
capital markets participants (ourselves included) concerned about
the possibility of a longer-term slow-down. CEO confidence has
trended downwards over the last six months, likely contributing to
some of the recent industry slowdown. This is not entirely
surprising given that office furniture produces no revenue for its
buyers, and as a result, is vulnerable as one of the first budgets
to be slashed during uncertain economic times. In addition, prior
year compari-sons are fairly difficult, as illustrated by this
month’s two-year stacked order growth rate of 9% (March 2015 orders
increased 12% y/y). Recall, industry orders increased 6.4% through
the first half of 2015, versus a 0.7% increase in the second half
of 2015. Positively, some of the recent industry commentary and
earnings results seem to support (to a degree) the thesis that
5.6.16 4.1.16 12.31.15 10.2.15 6.26.15 3.27.15
%frYrHi%fr50-DayMA
HMiller 30.4 30.4 28.7 29.2 30.5 27.4 -7.1% -0.1%
HNI 43.0 39.6 36.1 43.7 53.2 53.8 -19.9% 5.5%
Inscape 3.0 3.0 3.0 3.0 3.3 3.2 -21.1% -1.1%
Interface 16.6 18.2 19.1 22.5 25.2 20.6 -39.1% -7.0%
Kimball 11.4 11.4 9.8 9.9 11.9 10.2 -11.9% -0.3%
Knoll 23.3 21.9 18.8 21.9 25.9 22.7 -10.5% 5.5%
Leggett 49.1 48.5 42.0 42.1 49.7 45.4 -4.3% 1.7%
Mohawk 195.6 192.4 189.4 189.0 193.2 181.2 -7.8% 1.1%
Steelcase 14.8 14.9 14.9 18.6 19.7 18.9 -27.4% -1.7%
USG 27.0 25.1 24.3 27.4 28.5 25.9 -18.0% 3.7%
Virco 30.4 3.1 3.3 3.1 2.9 2.7 -3.6% 15.4%
SUM 444.5 408.6 389.4 410.3 443.8 412.0
DJIndust 17,741 17,793 17,425 16,472 17,947 17,713 -3.3%
Industry Stock Prices
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05.09.16 GIVING VOICE TO THOSE WHO CREATE WORKPLACE DESIGN &
FURNISHINGS PAGE 34 OF 42
businessthe entire industry is not “rolling-over,” despite the
recent weak order growth rates.
>For all of 2016, BIFMA projects that orders and shipments
will increase 3.1% and 1.0%, respectively. Recall, reported orders
for 2015 increased 3.5% y/y in 2015, and shipments improved 4.8%
y/y. For 2017, BIFMA projects that orders and shipments will
increase 4.4% and 4.8%, respectively. Unfor-tunately, many industry
participants and observers have been conditioned (by experience) to
not put too much weight on the point estimates because the track of
the forecasts typically looks significantly higher at the left axis
than at the middle or right – at least until we move into the
current year. At face value, we now believe BIFMA’s current 2016
order growth projection of ~3.1% seems reasonable given that
prior-year comparisons begin to ease in the back half of 2016.
April 2015 orders improved 8% y/y, followed by +1% and +3% in May
and June, respectively.
>Countering the spate of weak BIFMA reports, Knoll re-cently
reported (April 22) 1Q16’s North America office sales increased
10.5% y/y, on top of 14.8% growth in the prior year. The strong y/y
sales growth was driven by recent product introductions, including
height-adjustable tables and storage products, as well as strength
in the company’s core Systems portfolio.
>HNI’s most recent report, however, underscored some of the
recent order weakness, but thought that things may turn during the
second half of 2016. It reported that its 1Q16 of-fice furniture
sales decreased 4.9% y/y to $387.3 million, with declines in both
the supplies and contract channels. In addi-tion, management
expects revenues to decline again in 2Q16. Encouragingly, though,
in the release, CEO Askren cited “signs of modest market
improvement.” Recall, HNI’s management had a more bearish outlook
over the last few quarters versus its direct office furniture
peers.
>Irrespective, regarding ratings, we remain a bit more
cau-tious now (only two Outperform-rated stocks in the sector, KNL
and HNI) given some of the industry commentary, as well as the
remaining tough prior-year comparisons through the first half of
2016. The industry’s choppiness inherently makes sense to us
because the contract office furniture industry has become lumpier,
and the recent slowdown in the y/y order growth rates, along with
sizable differences in prior-year order comparisons, reinforce that
characteristic. We understood and always caution that high
comparison hurdles are, themselves, a barrier that only time can
remedy – particularly in an industry like office furniture.
>So, we are not yet persuaded that the entire office
furni-ture market is “rolling over.” And, while the office
furniture and general economic environment isn’t robust, it is
likely not as bad as some of the current public office furniture
compa-nies valuations reflect. Interestingly, a lot of the key
industry indicators (more detail below) remain positive, giving us
hope that with a reasonable economic environment going forward, we
could still be in the middle innings of a non-residential economic
recovery. If that’s the case, office furniture demand should slowly
improve as we move through 2016. The following comments elaborate
and depict some of those positive and/or improving key drivers for
office furniture.
>Despite moderating, the pace of job growth remains
rela-tively strong by historical standards. Ongoing improvements in
employment in 2016 should continue to benefit industry demand.
Excluding the energy sector, corporations are still experiencing
strong levels of profitability (based on the Bureau of Economic
Analysis data), which should also benefit the industry, as long as
the macro geopolitical environments do not drastically
deteriorate.
>In addition, projected office completions growth in
2016-2017 suggests a long-term positive for office furniture orders
and shipments. While the absolute level of office construction
spending remains below the 2008 peak, trends continue to improve
nicely (based on Census Bureau data). February 2016 (the most
recent month available), office construction spend-ing (not
seasonally adjusted) improved 22.8% year-over-year and the
trailing-12-month office construction spending trend improved 22.3%
y/y in February. Trailing 12-month office con-struction spending
has been positive since December 2013. The Architects’ Billing
Index, which we believe leads non-resi-dential construction by 8-13
months, was 51.9 in March (most recent month available), above 50.0
– the line of demarcation between expansion and contraction. The
rolling 12-month aver-age was 51.5 in March, above the 50.0 line of
demarcation.
>According to Reis, net office space absorption was positive
by ~44 million square feet in 2015 and is forecast to con-tinue to
slowly improve going forward (Reis is currently fore-casting ~53
million square feet of net office space absorption in 2016,
followed by ~64 million in 2017). Vacancy rates peaked in 1Q11 and
have begun to tick lower, but they remain elevated when viewed
historically. This should support continued office churn as
corporations move and/or consolidate space, taking advantage of
favorable lease rates and motivated landlords.
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businessBUSINESS AFFAIRS>DIRTT Environmental Solutions Ltd.
Reported the voting results from its annual and special meeting of
shareholders held on May 5. Shareholders voted and approved the
following proposals: (1) the appointment of Deloitte LLP as the
audi-tors of the corporation; (2) the election of the directors of
the corporation; and (3) the approval of unallocated options under
the corporation’s stock option plan. The following directors were
elected: Wayne Boulais, Gregory F. Burke, Lawrence D. Fairholm,
Scott Jenkins, Christine McGinley, Steve Parry, Diana Propper de
Callejon, Mogens Smed, and Denise Turner.
http://www.dirtt.net/company/news
>DIRTT Environmental Solutions on May 4 issued its
first-quarter 2016 earnings release (Canadian dollars in thousands
except per share amounts):
3 Mos. Ended 3.31.16 3.31.15 %Ch.Revenue $55,923 $56,701
-1.4%Gross profit $24,066 $23,801 1.1%SG&A $23,146 $20,071
15.3%Op. Inc. $920 $3,730 -75.3%Net Inc. $368 $4,682 -92.1%Net Inc.
$0.25 $0.15 66.7% per share $0.00 $0.06 -100.0%
Highlights reported for the quarter include:
-Significant non-energy revenue growth in the quarter of
27.3%;
-Trailing 12-month revenue was $235.8 million versus $203.5
million in the prior 12-month period, an increase of 15.9%;
-Adjusted gross profit increased by $0.3 million to $24.8
mil-lion, or 1.2%, over Q1 2015;
-Continued and expanded investment in sales, marketing and
business development contributed to adjusted SG&A as a
percentage of revenue of 34.4%
“In 2015 we could see challenges on the horizon for the energy
industry and in response we proactively increased our sales efforts
and investments across North America and all industry sectors,”
said DIRTT CEO Mogens Smed. “As a direct result, we reported
non-energy sector revenue growth of 27.3% over the first quarter of
2015.”
“While we remain focused on diversifying and building our core
North American business we were also pleased to see an 83% increase
in our international business to $4.2 million in the quarter,” said
Scott Jenkins, President. “We have increased our sales and
marketing-related team by 14.4% from the prior year and will
continue to make further strategic investments to drive
growth.”
“Favorable project mix and relatively stable manufacturing
vol-ume helped us to generate improved gross profit over the prior
year period, in conjunction with a more favorable average
U.S.-Canadian exchange rate in this year’s quarter,” said DIRTT CFO
Derek Payne. “Alongside better industry fundamentals, we saw
stronger sales momentum as we exited the quarter and we expect
stronger year-over-year results for the second quarter.”
Last year’s Q1 revenue included $8.1 million from the
previ-ously announced US$30.0 million U.S. energy sector contract
compared to nil in 1Q16. This business was partially offset by a
general increase in activity from small and medium-sized projects
in the current year period from a diverse range of industry
segments. While total volume decreased quarter over quarter, the
stronger U.S. dollar versus the comparable period in 2015 increased
the Canadian dollar value of U.S. revenue, largely offsetting the
decline in volume. Sales to the energy sector accounted for 9% of
total revenue in 1Q16, down from 28% of total revenue in 1Q15. This
decline was largely offset by increases in revenue from almost all
other sectors. Here is a link to a breakdown of the percentage of
revenue by sector for 1Q16 versus 1Q15:
http://media3.marketwire.com/docs/RevenuebySector.jpg
Adjusted gross profit for 1Q16 improved slightly to $24.8
mil-lion from $24.5 million for 1Q15, with adjusted gross profit
percentage widening 120 basis points to 44.4% from 43.2%. DIRTT
attributed this increase to relatively steady manufactur-ing
volumes throughout the quarter, combined with a diverse project
mix. The higher US dollar to Canadian dollar exchange rate also
contributed, as the positive impact on US dollar revenue exceeded
the negative impact on US dollar-based production costs.
Adjusted SG&A as a percentage of revenue increased by 370
basis points from 30.7% to 34.4% in the quarter compared with 1Q15.
Adjusted SG&A expenses increased by $1.8 million, or 10.4%.
DIRTT attributed this increase to its ongoing invest-ment in
long-term growth, with marketing-related efforts includ-ing travel,
people and promotional build-outs to showcase the company’s
capabilities. The higher U.S. dollar to Canadian dollar exchange
rate also contributed to the overall increase in adjusted SG&A
expenses.
At Mar. 31, DIRTT had $83.5 million in cash and cash
equiva-lents compared with $91.4 million at Dec. 31, 2015. At Mar.
31, the company also had access to an undrawn US$18.0 million
revolving credit facility. In March, it signed a fourth amendment
to the amended and restated loan agreement with its lenders, which
among other things, provided an additional capital financing
facility of US$10.0 million, which was un-drawn as at Mar. 31.
http://www.dirtt.net/company/newshttp://media3.marketwire.com/docs/RevenuebySector.jpghttp://media3.marketwire.com/docs/RevenuebySector.jpg
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businessOutlook
DIRTT’s growth strategy consists of five key initiatives: (1)
in-creasing penetration of existing markets by providing continued
support and increased investment to existing DPs throughout North
America; (2) expanding into new geographies, such as the Middle
East and United Kingdom, by capitalizing on recent and continued
investment alongside new international DPs; (3) penetrating new
vertical markets such as the healthcare, education and residential
sectors; (4) continuing to invest in ICE and new innovative
interior construction solutions such as the Enzo Approach,
residential interiors and timber frame con-struction; and (5)
partnering with industry leaders to monetize innovative
solutions.
With the recent launch of its residential and timber frame
solu-tions, the company has officially entered into these markets.
It does not expect to see meaningful revenue from these markets in
the near term; however, it did receive its first significant
residential contract for 16 duplexes in Alaska.
“We believe DIRTT Solutions are a superior alternative to
conventional construction in all sectors of the construction
industry, and that a continued increase in construction activity
can be expected to result in an ongoing improvement in our
revenue,” the company stated in its earnings release. “We plan to
invest additional resources, including the further develop-ment of
ICE and the development of new DIRTT Solutions and test projects,
to pursue further opportunities in healthcare, edu-cation,
government and residential sectors of the construction
industry.”
A major component of DIRTT’s ongoing marketing activities is
DIRTT Connext™, its annual sales, marketing and training initiative
which occurs every June in Chicago, coinciding with NeoCon®. Each
year DIRTT transforms its company-owned Chicago GLC to showcase its
newest innovations and con-struction solutions to the architect and
design community, clients, investors and the media. Distribution
Partners and DIRTT sales representatives also take part in
comprehensive training sessions, hear from DIRTT’s leadership team
and key third parties, and network with colleagues – all to
strengthen their ability to succeed in their local markets. The
total cost for DIRTT Connext in 2015 was $2.3 million. Noting that
as the tangible benefits of this yearly event continue to become
more evident, the company expects to increase its investment in
DIRTT Connext. While these expenses are primarily incurred in Q2,
DIRTT Connext’s comprehensive sales and marketing initiatives
significantly enhance regular marketing, training and
communications efforts throughout the remainder of the year and
beyond.
The full text of DIRTT’s 1Q16 earnings release, including
all
tables, plus an archived webcast replay of the company’s May 5
conference call, may be accessed at http://ir.dirtt.net. A replay
of the call will also be available at +1 416.849.0833 or
1.855.859.2056 (passcode 97283457) until midnight Eastern Time
Thursday, May 12. Additional information may be found in DIRTT’s
condensed consolidated financial statements avail-able at
www.sedar.com and http://ir.dirtt.net/financial-reports.
>Kimball International, Inc. on May 3 released its
third-quar-ter fiscal year 2016 results (dollars in thousands
except EPS):
3 Mos. Ended 3.31.16 3.31.15 %Ch.Net Sales $150,038 $145,943
2.8%Gross Profit $45,819 $44,007 4.1%SG&A $38,763 $38,508
0.7%Op. Inc. $4,295 $5,111 -16.0%Net Inc. $2,757 $4,882 -43.5%EPS
(dil.) $0.07 $0.13 -46.2%
9 Mos. Ended 3.31.16 3.31.15 %Ch.Net Sales $470,426 $441,807
6.5%Gross Profit $150,169 $137,786 9.0%SG&A $120,170 $125,435
-4.2%Op. Inc. $24,038 $8,628 178.6%Inc. from $12.8 $6.9 85.5% Cont.
Oper. $14,881 $6,398 132.6%Net Inc. $14,881 $15,555 -4.3%EPS from
Cont. Oper. $0.39 $0.17 129.4%EPS (dil.) $0.39 $0.40 -2.5%
Adjusted income from continuing operations for the third quarter
of fiscal year 2016 was $4.4 million, or $0.12 per diluted share,
which excludes charges related to a previously announced
restructuring plan.
“Our third quarter sales were up 3% compared to the prior year
third quarter, with several of our verticals showing very strong
performance,” said Kimball International Chairman and CEO Bob
Schneider. “Specifically, healthcare sales grew 60% and sales into
the government vertical increased 19%. However, the hospitality
vertical had the usual volatility we often see in this
project-based industry with sales being down 22%, while orders
received during the quarter were up a strong 49%.
“Our fiscal third quarter is typically slower than other
quarters, which tends to put pressure on our sales level and
operating margin. However, I am pleased that our third quarter pro
forma adjusted operating income as a percent of sales was 4.8%,
which was our best fiscal third quarter in a decade. The
con-tinuous improvement and restructuring activities the last
couple years are getting nice traction. The largest of those
activities, the exit and transfer of operations from our Post
Falls, ID facility to several facilities in Indiana, is nearing
completion but nega-tively impacted results this quarter due to
inefficiencies occur-ring during the final move of production
between facilities. We
http://ir.dirtt.nethttp://www.sedar.comhttp://ir.dirtt.net/financial-reports
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businesscontinue to expect completion of this significant
restructuring effort by June 30, 2016. All metal production
activities as of the end of March have been transferred and what
remains is Post Falls facility clean-up, continued training of
Indiana employees and the eventual sale of the Post Falls facility.
I sincerely ap-preciate the dedication of our employees as we near
the end of this important project.”
Third quarter gross profit as a percent of net sales increased
0.3 of a percentage point over the prior year third quarter, with
the improvement attributed to price increases, an overall shift in
sales mix to higher margin business, the benefit of lever-age on
higher sales, and lower freight costs, partially offset by
increased labor and overhead expenses. The increased labor and
overhead costs were partially driven by higher employee healthcare
expenses during the current year quarter and inef-ficiencies
related to the company’s restructuring plan.
Pre-tax restructuring costs in the third quarter of fiscal year
2016 totaled $2.8 million, primarily consisting of employee
transition costs and equipment relocation costs related to the
cessation of production at the Post Falls, ID facility.
Restructuring activities are expected to be completed by Jun. 30,
and thereafter only facility maintenance costs will be incurred
until sold.
Operating cash flow for the third quarter of fiscal year 2016
was a positive cash flow of $24.5 million compared to a posi-tive
cash flow of $10.3 million in the 3Q15. The increase was primarily
driven by increased conversion of working capital balances to cash
during the current quarter compared to the prior year quarter. The
company’s cash and cash equivalents balance was $43.8 million at
Mar. 31, compared to June 30, 2015 cash and cash equivalents of
$34.7 million. The increase was driven by strong current year cash
flows from operations.
Results by End Market Vertical (dollars in millions):
NET SALES
3 Mos. Ended 3.31.16 3.31.15 %Ch.Commercial $50.2 $49.8
0.8%Education $7.6 $7.9 -3.8%Finance $14.0 $13.1 6.9%Government
$22.1 $18.6 18.8%Healthcare $23.2 $14.5 60.0%Hospitality $32.9
$42.0 -21.7%Total $150.0 $145.9 2.8%
9 Mos. Ended 3.31.16 3.31.15 %Ch.Commercial $154.0 $151.6
1.6%Education $30.6 $28.5 7.4%Finance $48.4 $42.0 15.2%Government
$74.4 $73.1 1.8%Healthcare $58.1 $43.9 32.3%Hospitality $104.9
$102.7 2.1%Total $470.4 $441.8 6.5%
ORDERS
3 Mos. Ended 3.31.16 3.31.15 %Ch.Commercial $48.9 $52.3
-6.5%Education $10.0 $8.2 22.0%Finance $11.1 $13.2 -15.9%Government
$22.0 $18.8 17.0%Healthcare $21.9 $15.3 43.1%Hospitality $34.5
$23.1 49.4%Total $148.4 $130.9 13.4%
9 Mos. Ended 3.31.16 3.31.15 %Ch.Commercial $161.4 $160.7
0.4%Education $31.9 $26.5 20.4%Finance $47.7 $42.2 13.0%Government
$73.1 $71.1 2.8%Healthcare $62.8 $45.9 36.8%Hospitality $105.6
$105.5 0.1%Total $482.5 $451.9 6.8%
The company noted that its healthcare vertical benefited from
strengthening relationships with purchasing organizations and
product solutions specific to healthcare settings. The increase in
sales to the government vertical market was primarily driven by
several federal government projects. The order decline in the
hospitality vertical, which is very project-oriented, was
at-tributed to shipping more large custom projects last year
com-pared to the current year. Office furniture sales within
verticals other than the hospitality vertical increased 13%
compared to the prior year third quarter.
Sales from new office furniture products introduced in the last
three years increased 54% compared to the third quarter of last
year. New product sales approximated 25% of total office furniture
sales in the current year third quarter compared to 18% in the
prior year third quarter.
Office furniture orders received in the current year third
quarter within verticals other than the hospitality vertical
increased 6% over the prior year.
Guidance
All substantial restructuring activities are expected to be
com-plete by Jun. 30, as indicated previously, and are expected to
generate savings of approximately $5 million annually thereaf-ter,
with approximately $1.25 million benefit occurring quarter-ly.
There is no change to the Company’s earnings projection to reach 8%
to 9% operating income as a percent of net sales in the quarter
ending September 2016. Specifically, the company projects the
following for the quarter ending September 2016: net sales to range
from $170 million to $180 million; operating income to range from
$14 million to $16 million; effective tax rate to range from 35% to
38%; and earnings per diluted share to range from $0.23 to
$0.27.
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businessThe full text of Kimball’s 3Q16 earnings release,
including all tables, and a webcast replay of the company’s May 4
confer-ence call, including a PDF file with supplementary data, may
be accessed at www.ir.kimball.com.
>Michael A. Dunlap & Associates, LLC unveiled the results
of its quarterly MADA / OFI Trends Survey. This tool measures the
current business activity of the commercial furniture indus-try and
its suppliers. The current survey was completed during the month of
April and marks the 47th Edition. The survey was started during the
summer of 2004.
The survey focuses on ten key business activities and
respon-dents rate each area on a scale of TEN (the highest) to ONE
(the lowest). It then establishes an Industry Index Number to
quantify where the industry is currently performing. For exam-ple,
an index of 100 means that things “couldn’t be better”, an index of
ONE is “absolutely the worst” it can be, and an index of 50 means
it is neutral; no change “up” or “down”.
The April Overall Survey Index is 57.24 compared to an almost
identical January 2016 Overall Index (57.25) and ex-ceeding October
2015’s (56.05). The 47-survey average for the overall index is
54.79. The highest recorded Index was 59.72 in July 2005 and the
lowest was 41.45 in April 2009 during the bottom of the
recession.
“The industry continues to grow steadily,” commented Mike
Dunlap. “Obviously the smaller to mid-sized companies are growing
faster than the Top Five. The Overall Index is strong and is
definitely above the 54.79 Survey average. 2015 was the best year
we had seen in well over a decade and we remain confident that 2016
will be even better.”
The January 2016 survey highlights are:
-Gross Shipments Index retreated to 57.35 after an all-time
record of 64.33 in January and 59.33 in October 2015. The 47-survey
average is 57.92. The Order Backlog Index of 58.06 slipped from
59.00 in January, but was higher than the 57.00 Index in October.
The 47-survey average is 56.90.
-The Employment Index also retreated to 54.24 from 57.00 in
January and 55.33 in October. The 47-survey average is 52.38. The
Hours Worked Index of 58.28 rose slightly from 57.50 in January and
compares to 58.52 in October. The 47-survey average is 55.61.
-Capital Expenditures rose significantly to 61.25 from 55.33 in
January and 55.17 in October. Tooling Expenditures dipped to 57.19
from 57.93 in January, below October’s 58.52. These compare to the
47-survey averages of 55.60 and 55.98.
-New Product Development rebounded to 63.03 from 61.33 in
January and 57.93 in October. The 47-survey average is 63.52.
-Raw Material Costs improved again to 53.33, which marks the
highest and all-time best index for this category. The January
index was 52.33. Four of the past five quarters are all above 50.00
and the 47-survey average is 45.03.
-Employee Costs also improved to 47.81 from January’s 46.55 and
October’s 44.00. The 47-survey average is 46.71.
-The Personal Outlook Index is 61.82, up from 61.03 in Janu-ary,
but down from October’s 64.67. The all-time high was 66.40 in July
2016. The 47-survey average is 57.99.
Mr. Dunlap further stated, “The fact that we have an all-time
high index value for raw materials in the April 2016 survey is very
exciting! The high Gross Sales, Employment, and Capital
Expenditures are indicators of the current strength of the
indus-try. The shifts in Employment Levels and Hours Worked index
values are indicative signs that hiring new employees might be
keeping up with demand and is still not being offset by less
overtime.
“The increase in Capital Expenditures and steady Tooling
Ex-penditures are mixed when comparing them to their 47-survey
averages, The New Product Development index is still some-what
alarming and we will monitor this puzzling trend closely. Both
manufacturers and suppliers continue to report similar
experiences.
“The improved Raw Material Cost Index has become the norm,
because it reflects the decline in the prices of commodities like
fuel, steel, copper, and plastics. It’s actually a “deflation”
scenario that is typically good only for a short period. Yes, it
beats index values in the upper 30’s and lower 40’s. With the five
quarter average at 50.95 and 47 quarter average of 45.03,
conditions remain out of balance.
“The Employee Cost index value is not unusual and is slightly
better than the 47-survey average.
“Although there are signs of softening, I am delighted to see
the strength of the Personal Outlook Index. It’s a purely
emo-tional question but we put a lot of value on this content.”
“Six out of ten Index values have improved and four have
declined, but these are simple corrections in the industry’s
performance. Only Employee costs are below the ‘50’ level. We
maintain the opinion that the industry will continue to grow
steadily during mid 2016 and probably into 2017.”
The most frequently cited perceived threats to the industry’s
success are healthcare costs and exchange rates. Healthcare costs
are the most commonly cited concern from respondents since this
survey process was started in August 2004.
The April 2016 MADA / OFI Trends survey was sent to more than
800 individuals involved with office furniture manufactur-
http://www.ir.kimball.com
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businessing and suppliers from Africa, Asia, Australia, Europe,
North and South America and from companies ranging from more than
$1 billion in sales to less than $10 million in sales. The survey
repeats in July 2016. Read More
>Mohawk Industries, Inc. on May 5 announced its
first-quar-ter 2016 results (dollars in thousands except EPS):
3 Mos. Ended 4.2.16 4.4.15 %Ch.Net Sales $2,172,046 $1,881,177
15.5%Gross Profit $639,679 $511,943 25.0%SG&A $394,007 $468,169
-15.8%Op. Inc. $245,672 $43,774 461.2%Net Earn. $171,548 $22,346
667.7%EPS (dil.) $2.30 $0.30 666.7%
Excluding restructuring, acquisition and other charges, net
earnings were $177 million and EPS was $2.38, a 40% in-crease over
last year’s first quarter adjusted EPS of $1.70. On a constant days
and currency exchange rate basis, net sales for 1Q16 were up an
estimated 19% over 1Q15.
“We entered 2016 with an optimistic outlook, and our results
exceeded our projections with revenue growing across all
seg-ments,” said Mohawk Industries Chairman and CEO Jeffrey S.
Lorberbaum. “We delivered our eighth consecutive quarter with
record year over year adjusted EPS, as well as the highest net
sales for any quarter in the company’s history. For the period, our
adjusted operating income margin rose to a first quarter record of
11.6%, an increase of 200 basis points over the prior year due to
acquisitions, volume, productivity and input costs. All of these
results were achieved with one less day in the period than last
year.
“Our major capital projects initiated last year are progressing
as expected, with the first production line in our Tennessee
ce-ramic plant now operational, our U.S. LVT production
acceler-ating and the second phase of our European ceramic upgrade
now complete. Each of our capital expansion projects creates
significant long-term value, adding new revenues by increas-ing our
product offerings and customer base. Typically, these projects take
one to three years to achieve their full benefit. All of these
investments should provide higher returns than our ac-quisitions,
though start-up costs impact our immediate results.
“In 2016, we have identified more opportunities to grow our
business and have already approved additional LVT produc-tion lines
in the U.S. and Europe, the doubling of our central Mexicoceramic
plant, the final phase of our European ceramic equipment upgrades
and the expansion of our U.S. and Euro-pean premium laminate
production with new technology. We anticipate investing more than
$600 million in capital projects this year, and we are assessing
further internal opportunities.
Results by Segment (dollars in thousands):
3 Mos. Ended 4.2.16 4.4.15 %Ch.Global Ceramic Net Sales $773,726
$719,828 7.5% Op. Inc. $99,777 $85,327 16.9%Flooring NA Net Sales
$906,364 $846,911 7.0% Op. Inc. $75,351 -$75,192 -Flooring ROW Net
Sales $491,956 $314,742 56.3% Op. Inc. $79,537 $44,641 78.2%
“For the quarter, our Global Ceramic Segment sales were up
approximately 8% as reported,” said Mr. Lorberbaum. “On a constant
days and currency basis, the segment grew 11% with the legacy
business up approximately 9%. Adjusted operating income for the
segment rose 18% on a constant currency basis over last year to an
operating margin of 13%. In our North American ceramic business,
which constitutes the