Steelcase Turns To Profit In Q4 - Quick Facts

(RTTNews) - Steelcase Inc. (SCS) Tuesday reported fourth-quarter net income of $23.9 million, or $0.19 per share, compared to net loss of $27.5 million, or $0.22 per share in the comparable quarter last year.

Adjusted earnings were $0.18 per share, compared to $0.28 per share in the prior year. On average, four analysts polled by Thomson Reuters expected the company to earn $0.17 per share for the quarter. Analysts' estimates typically exclude special items.

Revenues increased to $779.40 million from $721.40 million last year, while three analysts expected revenues of $773.77 million.

Looking ahead to the first quarter, the company has forecast earnings in the range of $0.12 to $0.15 per share, adjusted earnings in the range of $0.14 to $0.17 per share and revenues in the order of $715 million to $740 million.

Analysts currently expect first-quarter earnings of $0.16 per share on revenues of $699.83 million.