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Steelcase: Fiscal 2Q Earnings Snapshot

·1 min read

GRAND RAPIDS, Mich. (AP) _ Steelcase Inc. (SCS) on Tuesday reported fiscal second-quarter profit of $55.5 million.

On a per-share basis, the Grand Rapids, Michigan-based company said it had net income of 47 cents. Earnings, adjusted for one-time gains and costs, came to 55 cents per share.

The office furniture maker posted revenue of $818.8 million in the period.

For the current quarter ending in December, Steelcase expects its per-share earnings to range from 12 cents to 18 cents.

Steelcase shares have declined 44% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $11.41, a drop of 40% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SCS at https://www.zacks.com/ap/SCS