Steelcase Inc (SCS) revealed a profit for its first quarter that increased from the same period last year and beat the Street estimates.
The company's bottom line totaled $10.9 million, or $0.09 per share. This compares with $1.5 million, or $0.01 per share, in last year's first quarter.
Excluding items, Steelcase Inc reported adjusted earnings of $0.16 per share for the period.
Analysts on average had expected the company to earn $0.1 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter fell 3.3% to $727.3 million from $751.9 million last year.
Steelcase Inc earnings at a glance (GAAP) :
-Earnings (Q1): $10.9 Mln. vs. $1.5 Mln. last year.
-EPS (Q1): $0.09 vs. $0.01 last year.
-Revenue (Q1): $727.3 Mln vs. $751.9 Mln last year.
-Guidance:
Next quarter EPS guidance: $0.36 to $0.40
Next quarter revenue guidance: $850 to $875 Mln
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