Steelcase Reports Q4 EPS of $0.11 vs. $0.08

Steelcase Inc. SCS today reported fourth quarter revenue of $622.9 million and net income of $10.4 million, or $0.08 per share. Excluding net restructuring costs, adjusted earnings equaled $0.11 per share. Steelcase reported $551.9 million of revenue and a net loss of $(0.10) per share in the fourth quarter of the prior year. Organic revenue growth in the fourth quarter was broad-based and totaled 24 percent over the prior year after adjusting for negative impacts of $(43) million from deconsolidations and approximately $(6) million related to unfavorable currency translation effects.