UPDATE 1-Knoll Q1 profit falls 77 pct

Fri Apr 16, 2010 8:40am EDT

* Q1 EPS $0.05 vs $0.21 year ago

* Sales fall 18 pct

April 16 (Reuters) - Office furniture maker Knoll Inc (KNL.N) posted a 77 percent fall in quarterly profit, hurt by a decline in office systems sales, and said it sees a recovery in demand in the second half of 2010.

For the first quarter, net income was $2.2 million, or 5 cents a share, compared with $9.5 million, or 21 cents a share a year ago. Excluding items, the company earned 10 cents a share.

Sales fell 18 percent to $175.3 million.

Analysts on average had expected earnings of 13 cents a share, before special items, on revenue of $179.2 million, according to Thomson Reuters I/B/E/S.

Backlog of unfilled orders at March 31 was $138.9 million, a decline of 15 percent over the last year, the company said.

Shares of the company closed at $12.49 Thursday on the New York Stock Exchange. (Reporting by Divya Sharma in Bangalore; Editing by Vinu Pilakkott)

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