GRAND RAPIDS, Mich., March 27, 2013 (GLOBE NEWSWIRE) -- Steelcase Inc. (NYSE:SCS) today reported fourth quarter revenue of $721.4 million and a net loss of $27.5 million, or $0.22 per share, including restructuring costs of approximately $0.10 per share. Current quarter results included goodwill impairment charges, tax valuation allowance adjustments, foreign tax credit benefits and environmental reserve adjustments, which had the aggregate net effect of reducing earnings by approximately $0.31 per share. Steelcase reported $690.2 million of revenue and earnings of $0.11 per share in the fourth quarter of the prior year, including restructuring costs of approximately $0.03 per share.
Steelcase Reports Fourth Quarter Results
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
More than 30 investing pros with skin in the game give you actionable insight and investment ideas.