HNI Corp. announced that its second quarter net income was $30.3 million, or 72 cents per share, a 30% increase on a year-over-year basis. Sales for the quarter that ended on July 2 were $621.7 million. During the past quarter the Muscatine-based manufacturer sold its China- and Hong Kong-based Lamex office furniture business, and completed the acquisition of an installing distributor in North Carolina, its 27th installing-distributor location nationwide. The proceeds from the $75 million sale of Lamex will be used to repay existing debt, providing additional financial flexibility, the corporation said in an earnings release. Also in the second quarter, HNI returned more than $53 million to its shareholders in the form of dividends and share repurchases. “Our members delivered strong top- and bottom-line performance in the second quarter while we invested to strengthen our operational network and go-to-market capabilities,” said Jeff Lorenger, chairman, president and CEO of HNI. “We continued to improve our price-cost position, which also contributed to our profit growth. Our strategic initiatives focused on driving growth and simplifying our businesses have momentum and are positioning us for long-term success.” HNI adjusted its previous outlook and now expects lower second half profit expansion due to slowing volume growth and the divestiture of Lamex, partially offset by improved price-cost and reduced expenses.