Corrects third paar to show that revenue declined year-over-year:
Steelcase Inc. (SCS) Wednesday reported first-quarter profit of $13.2 million or $0.10 per share, flat with last year.
Adjusted earnings for the quarter was $0.13 per share. On average, four analysts polled by Thomson Reuters expected the company to earn $0.13 per share for the quarter. Analysts' estimates typically exclude special items.
Revenues declined to $667.1 million from $675.2 million last year. Analysts expected revenues of $689.93 million.
Looking ahead to the second quarter, the company has forecast earnings in the range of $0.22 to $0.26 per share. Revenues are expected to range between $760 million and $785 million.
Analysts currently expect the company to report second-quarter earnings of $0.27 per share on revenues of $771.30 million.
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