Steelcase has reported fourth quarter revenue of $690.2 million and net income of $14.9 million, or $0.11 per share. Excluding restructuring costs, adjusted earnings were $0.14 per share. Revenue and earnings per share were within company estimates. Steelcase reported $622.9 million of revenue and earnings of $0.08 per share in the fourth quarter of the prior year.
Organic revenue growth in the fourth quarter was 10 percent after adjusting for the net favorable impact of $11 million associated with acquisitions and divestitures and approximately $3 million related to unfavorable currency translation effects. The Americas posted 13 percent organic growth over the prior year and EMEA grew organically by 4 percent. Revenue growth in the Americas was broad-based and included a higher mix of project revenue from some of the company’s largest corporate customers.
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