Steelcase posts 2Q profit

GRAND RAPIDS (AP) - Steelcase Inc. (SCS) on Tuesday reported earnings of $30.5 million in its fiscal second quarter.

On a per-share basis, the Grand Rapids, Michigan-based company said it had net income of 24 cents. Earnings, adjusted for restructuring costs, came to 27 cents per share.

The office furniture maker posted revenue of $786.7 million in the period.

For the current quarter ending in November, Steelcase expects its per-share earnings to range from 24 cents to 28 cents.

The company said it expects revenue in the range of $810 million to $835 million for the fiscal third quarter.

Steelcase shares have declined 1.5 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $15.62, a drop of 4 percent in the last 12 months.


This story was generated by Automated Insights ( using data from Zacks Investment Research. A stock research report on SCS from Zacks is available at:

Published: Thu, Sep 25, 2014