Steelcase reports Q1 profit

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22 June 2005 – Chicago (IL): Steelcase has reported Q1 net income of $6.7 million or EPS $0.05, compared with a net loss of $5.7 million or $0.04 a year earlier.

Analysts had expected EPS of $0.08 on revenue of $674 million.

Revenue rose by 13 per cent to $676 million in Q1.

Steelcase has forecast Q2 profit between eight and 19 cents per share, and a sales increase of between ten and 15 per cent.