Knoll (KNL) Q4 2019 Earnings Call Transcript

Knoll (KNL) Q4 2019 Earnings Call Transcript

[Operator instructions] And our first question comes from Greg Burns from Sidoti & Company.. I'd also point out that decline over that kind of May to November period also correlated with, I think, the first quarter of negative year-over-year absorption in a while and the slowest quarter of leasing activity in about four years, and you can see this in the kind of market JLL data.. Now the flip side of this, I have to say, is that as we've moved into December and into the new year, we have seen a nice pickup in orders growth and we've seen, since December, the last three months, the funnel of business we're tracking, which in December was up double digits over the prior year, both in dollars and number of opportunities actually has grown each of the next couple of months.. But I definitely think we seem to have bottomed in the fourth quarter in terms of kind of the incoming orders rate, and we're seeing a nice pick up in the last couple of months.. And you kind of gave some explicit numbers around the gross margin expansion you expected.. So I think as we noted in the letter, in