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Herman Miller, Inc. Form 8-K

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549

FORM 8-K

CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934

Date of Report: May 14, 2009
(Date of earliest event reported)

HERMAN MILLER, INC.
(Exact name of registrant as specified in its charter)

Michigan
(State or Other Jurisdiction of
incorporation) 		001-15141
(Commission File No.) 		38-0837640
(IRS Employer
Identification No.)

855 East Main Avenue
Zeeland, Michigan
(Address of Principal Executive Offices) 		49464
(Zip Code)

(616) 654-3000
(Registrant’s Telephone Number, Including Area Code)

Not Applicable
(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

[_]     Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

[_]     Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

[_]     Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

[_]     Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 2.02.      Results of Operations and Financial Condition

On May 14, 2009, Herman Miller, Inc. announced additional steps in its comprehensive and ongoing plan to reduce fixed costs and strengthen its balance sheet.

  • The company is reducing its quarterly cash dividend to 2.2 cents ($0.022) per share from the 8.8 cents ($0.088) that the company declared and paid in each of the past nine quarters. The new dividend declared by the Board of Directors is payable July 15, 2009, to shareholders of record on May 30, 2009.

  • The company announced a plan to consolidate manufacturing operations with the closure of a subsidiary in Spring Lake, Michigan.

A copy of the announcement is attached as Exhibit 99.1.

The information in this Form 8-K and the attached Exhibit shall not be deemed filed for purposes of Section 18 of the Securities Act of 1934, as amended, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such filing.

Item 9.01.      Financial Statements and Exhibits.

Exhibits.

99.1 Announcement dated May 14, 2009

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SIGNATURE

                Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this Report to be signed on its behalf by the undersigned thereunto duly authorized.

Dated: May 14, 2009 HERMAN MILLER, INC.
(Registrant)


By: /s/ Gregory J. Bylsma
      ——————————————
      Gregory J. Bylsma
      Chief Financial Officer

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Herman Miller, Inc. Form 8-K Exhibit 99

EXHIBIT 99.1

Release Immediate

Date May 14, 2009

Contact Joe Nowicki (616) 654 5222 or joe_nowicki@hermanmiller.com

Greg Bylsma (616) 654 7578 or greg_bylsma@hermanmiller.com

Media: Mark Schurman (616) 654 5498 or mark_schurman@hermanmiller.com

Address Herman Miller Inc, 855 East Main Avenue, PO Box 302, Zeeland, MI 49464

Internet www.hermanmiller.com

Herman Miller Announces Planned Actions to
Reduce Costs, Strategically Manage Capital
through Reduced Dividend and Facilities
Consolidation

Herman Miller, Inc. (NASDAQ: MLHR) today announced further steps in its comprehensive and ongoing plan to reduce fixed costs and strengthen its balance sheet. The actions include:

  • A reduction in the company’s quarterly cash dividend to 2.2 cents ($0.022) per share from the 8.8 cents ($0.088) that the company declared and paid in each of the past 9 quarters. The new dividend declared by the Board of Directors is payable July 15, 2009, to shareholders of record on May 30, 2009. The company said the new dividend rate will enable it to retain approximately $14 million annually. The company also noted it has paid a dividend for more than 120 consecutive quarters.

  • A plan to consolidate manufacturing operations with the closure of its Integrated Metal Technologies (IMT) subsidiary in Spring Lake, Michigan. Under the plan, Herman Miller will retain existing production capacity and will enhance operational efficiency, with the majority of work and equipment moving to other newer, larger facilities in the area. Relocation is targeted to begin in August 2009, with the work completed and final closure targeted for spring 2010. The anticipated one-time cost for this action is $9 million to $12 million, with anticipated operational savings thereafter of $5 million to $7 million annually.

Greg Bylsma, Herman Miller’s Chief Financial Officer, said, “The dividend reduction and plant consolidation plan reflects our determination to enhance cash flow and balance sheet flexibility. While we remain committed to a dividend policy, this move aligns our dividend with our historical payout metrics. These actions also create further opportunity to re-align our capital structure through debt retirement, as well as freeing up resources for increased investment in our strategic priorities.”

Brian Walker, Chief Executive Officer, noted, “The Board and management have taken these challenging but necessary actions in the context of continued weak market conditions. They are integral to our comprehensive strategy to more effectively manage our resources and to ensure the long-term strength and future prospects of our company. For more than a year we have been undertaking a detailed and comprehensive review of our business with the objective to transform our cost structure—and fuel new, profitable and sustainable growth. These actions will further that agenda.

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About Herman Miller, Inc.
Herman Miller works for a better world around you—with inventive designs, technologies and related services that improve the human experience wherever people work, heal, learn, and live. Its curiosity, ingenuity, and design excellence create award-winning products and services, resulting in more than $2 billion in revenue in fiscal 2008. Innovative business practices and a commitment to social responsibility have also established Herman Miller as a recognized global company. In 2009, Herman Miller was again cited by FORTUNE as both the “Most Admired” in its industry and among the “100 Best Companies to Work For” in America, while Fast Company named Herman Miller among the innovative “Companies to Watch.” Herman Miller trades on the NASDAQ Global Select Market under the symbol MLHR.

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