This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Steelcase Management Discusses Q1 2013 Results - Earnings Call Transcript

For more details on these risks, please refer to yesterday's release and Form 8-K, the company's 10-K for the year ended February 24, 2012, and our other filings with the Securities and Exchange Commission. This webcast is a copyrighted production of Steelcase Inc.

Before I turn it over to our CEO, I just wanted to mention that Steelcase will be hosting an Analyst Day on Tuesday, October 2, with a full day's agenda at our global headquarters in Grand Rapids. You'll get the opportunity to meet with a wide array of business leaders and see our strategies in action. These strategies and our solutions address the forces of change businesses across the globe are facing. As well, we'll be revealing some new products that we're particularly excited about. We encourage all members of our audience to save that date on their calendars, and we'll be sending out official save-the-date notices in the coming weeks. With those formalities out of the way, I'll turn the call over to our President and CEO, Jim Hackett.

James P. Hackett

Thanks, Raj, and good morning to everyone. We're reporting today on another strong quarter for Steelcase, and one that was in line with our expectations overall. As you have seen in our earnings release, we performed extremely well in the Americas segment, and we fell short in the European segment and our Other category. The volatility in demand in Europe is not surprising, given the upheaval in the economy there. But there were also some timing factors at play that Dave will discuss in a few moments. And I wasn't pleased with the performance in the Other category. That's the segment that holds Asia and PolyVision and Designtex. And again, Dave will describe in more detail, that there were several factors that impacted these results that were just in the first quarter, and we expect improved results in the second quarter.

2 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 17,042.20 -8.55 -0.05%
S&P 500 2,013.43 +15.91 0.80%
NASDAQ 4,816.6280 +5.84 0.12%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs