Steelcase Inc. (SCS) Misses Q1 EPS by 4c; Issues Light Q2 Outlook

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Go back to Steelcase Inc. (SCS) Misses Q1 EPS by 4c; Issues Light Q2 Outlook

Steelcase Reports First Quarter Results

June 26, 2014 7:58 AM EDT

GRAND RAPIDS, Mich., June 26, 2014 (GLOBE NEWSWIRE) -- Steelcase Inc. (NYSE: SCS) today reported first quarter revenue of $723.1 million and net income of $21.0 million, or diluted earnings per share of $0.17. Excluding net restructuring benefits, adjusted earnings were $0.12 per share. In the prior year, Steelcase reported $667.1 million of revenue, diluted earnings per share of $0.10 and adjusted earnings of $0.13 per share.

Organic revenue growth over the prior year was 8 percent after adjusting for approximately $4.4 million of favorable currency translation effects. In the Americas, organic revenue growth over the prior year was 6 percent. The EMEA segment posted organic... More