Raymond James Downgrades Steelcase (SCS) to Market Perform
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Steelcase Reports Third Quarter Results
December 21, 2015 4:01 PM ESTGRAND RAPIDS, Mich., Dec. 21, 2015 (GLOBE NEWSWIRE) -- Steelcase Inc. (NYSE: SCS) today reported third quarter revenue of $787.6 million and net income of $35.6 million, or diluted earnings per share of $0.28. Excluding restructuring costs, adjusted earnings were $0.30 per share. In the prior year, Steelcase reported $800.0 million of revenue, diluted earnings per share of $0.09 and adjusted earnings of $0.29 per share.Â
Organic revenue growth over the prior year was 1 percent after adjusting for approximately $29.9 million of unfavorable currency translation effects and the impact of a small acquisition, net of divestitures. The Americas and Other category posted organic... More
