Steelcase (SCS) Tops Q4 EPS by 4c

Steelcase (NYSE: SCS) reported Q4 EPS of $0.27, ex-items, $0.04 better than the analyst estimate of $0.23. Revenue for the quarter came in at $769.1 million versus the consensus estimate of $750.83 million.

• The Americas posted 5% order growth in the fourth quarter, driven by continued strength of project business.
• Asia Pacific posted record levels of quarterly orders and revenue in the fourth quarter, capping off a strong year of growth.
• For the full fiscal year, consolidated results reflect the second highest operating income and the highest operating income margin since fiscal 2001.

“We were pleased to exceed our revenue and earnings estimates for the quarter, in an environment that reflects continued uncertainty and intense competition for business,” said Jim Keane, president and CEO. “The Americas contributed significantly to our performance exceeding our expectations, as did Asia Pacific, which posted record levels of revenue, orders and operating income in the quarter.”

For earnings history and earnings-related data on Steelcase (SCS) click here.

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