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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