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Steelcase Management Discusses Q1 2013 Results - Earnings Call Transcript

Stocks in this article: SCS

Now from a growth perspective, this was our ninth consecutive quarter of organic revenue growth on an Inc. or enterprise basis. And in the Americas segment, we've seen 7 straight quarters of double-digit growth. There is definitely growth from the directions set by our strategies and the operating income margin in the America, illustrates the power of our transformed business model and what we would say, is a diverse revenue base.

Now our first quarter call always comes on the heels of our trade show in Chicago called NeoCon. So it tends to be a focus of my comments. And this year, I thought the highlights of this show for our company, aligned especially well with the aspects of the strategy that I just mentioned. Let me point out 3 of those connections. First, is the response to a key vertical market for us in the education segment. Our education solutions team, which has just gotten started a few years ago, had a dedicated space in NeoCon this year, which is indicative of the ideas growing in the products now dedicated to this segment. Our research into what we're calling active learning translated this year into a new product portfolio called Verb. It's a table-based system that supports a variety of teaching and learning styles, and it pairs very well with that very successful node chair, that we introduced earlier. This product, Verb, won a Best of NeoCon Award, and it was one of 5 earned this year by our brands. Now this was initially targeted for the higher education market, but we think it can appeal and extend to high schools and certain corporate environments as well.

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