Steelcase Inc. (SCS) posted fourth-quarter net loss of $27.5 million, or $0.22 per share, compared to net income of $14.9 million or $0.11 per share in the comparable quarter last year.
Revenue for the quarter was $721.4 million, up from $690.2 million in the year ago quarter.
Analysts polled by Thomson Reuters expected the company to report earnings of $0.19 per share on revenues of $709.47 million for the quarter. Analysts' estimates typically exclude special items.
Steelcase expects to report earnings to be between $0.09 to $0.13 per share for the first quarter of fiscal 2014, including restructuring costs of approximately $0.02 per share.
Adjusting for these impacts, the company projects first quarter organic revenue growth in the range of 0 to 4 percent over the prior year.
The company expects first quarter fiscal 2014 revenue to be in the range of $680 to $705 million. This estimate includes an assumption of approximately $1 million from favorable currency translation effects compared to the prior year and approximately $2 million from recent acquisitions.
Analysts expect the company to report earnings of $0.18 per share on revenues of $711.45 million for the first-quarter.
Further, the Board of Directors declared a cash dividend of $0.10 per share, an increase of $0.01 per share compared to the previous quarter. The dividend will be paid on or before April 15, 2013 to shareholders of record as of April 8, 2013.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.