GRAND RAPIDS, Mich. (AP) — Steelcase Inc. (SCS) on Tuesday reported a fiscal first-quarter loss of $38.1 million, after reporting a profit in the same period a year earlier.

The Grand Rapids, Michigan-based company said it had a loss of 33 cents per share. Losses, adjusted for asset impairment costs, were 18 cents per share.

The office furniture maker posted revenue of $482.8 million in the period.

Steelcase shares have fallen 41% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $12.08, a decline of 30% in the last 12 months.

—————

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SCS at https://www.zacks.com/ap/SCS

Automated Insights

(0) comments

Welcome to the discussion.

Keep it Clean. Please avoid obscene, vulgar, lewd, racist or sexually-oriented language.
PLEASE TURN OFF YOUR CAPS LOCK.
Don't Threaten. Threats of harming another person will not be tolerated.
Be Truthful. Don't knowingly lie about anyone or anything.
Be Nice. No racism, sexism or any sort of -ism that is degrading to another person.
Be Proactive. Use the 'Report' link on each comment to let us know of abusive posts.
Share with Us. We'd love to hear eyewitness accounts, the history behind an article.