Steelcase (SCS) Tops Q1 EPS by 1c; Guides Q2 EPS

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Go back to Steelcase (SCS) Tops Q1 EPS by 1c; Guides Q2 EPS

Steelcase Reports First Quarter Results

June 24, 2015 4:01 PM EDT

GRAND RAPIDS, Mich., June 24, 2015 (GLOBE NEWSWIRE) -- Steelcase Inc. (NYSE: SCS) today reported first quarter revenue of $705.5 million and net income of $20.0 million, or diluted earnings per share of $0.16. Excluding net restructuring costs, adjusted earnings were $0.17 per share. In the prior year, Steelcase reported $723.1 million of revenue, diluted earnings per share of $0.17 and adjusted earnings of $0.12 per share.

Organic revenue growth over the prior year was 3 percent after adjusting for approximately $34.1 million of unfavorable currency translation effects and the impact of small divestitures. In the Americas, organic revenue growth over the prior year... More