Welcome to JSA Consultancy Services

A business consultancy, based in London, England, John Sacks' JSA Consultancy Services provides expert, in-depth, information advice and guidance as to how to exploit successfully the office furniture and interiors markets in Europe, North America, Australasia and Japan.

Steelcase Q2 results beat expectations

Wednesday 22 September 2010

Office furniture maker Steelcase Inc posted quarterly results above market expectations on higher international sales, and said it expects a solid third quarter fueled by a double-digit order growth.
Sales rose about 4 percent to $599.8 million as its International sales jumped 6 percent to $155.8 million. Sales in the other unit, which includes the Coalesse Group, PolyVision and IDEO, rose 13 percent.
Analysts were expecting third-quarter earnings of 13 cents a share, on revenue of $627.9 million, according to Thomson Reuters I/B/E/S.
\"We experienced good operating leverage from volume growth across our business, and improvements at PolyVision, Asia Pacific and Coalesse contributed significantly to the operating results this quarter,\" said Chief Financial Officer David Sylvester, in a statement.
For the June-August quarter, net income was $2.8 million, or 2 cents a share, compared with breakeven a year ago.
Adjusted earnings, excluding restructuring costs of $13 million, stood at 8 cents per share.
Analysts on average had expected earnings of 5 cents a share on revenue of $576.2 million.
Shares of the Grand Rapids, Michigan-based company, which have fallen 13 percent since touching a 52-week high on Apr. 22, closed at $6.54 Wednesday on the New York Stock Exchange.

Subscribe to our News Page

Enter your email here and we will tell you when this page is updated.

 

 

moreLatest News

Wednesday 21 February 2018 Takkt AG acquires Brittish Equip4Work

Takkt AG has acquired 100 percent of the shares of Equip4Work Ltd. Signing and closing of th

Tuesday 20 February 2018 Steelcase survey reveals informal space trend

A recent study by office furniture vendor Steelcase has shed some light on what people really wan

Tuesday 20 February 2018 Merger of Holmris and B8 – New Holmris B8 in European Top 10

Holmris and B8 have signed an agreement to merge the two companies. The merger of the two large o

Thursday 15 February 2018 Haworth 2017 sales surpass $2B

HOLLAND, MI - Haworth, Inc. had a good 2017. The Holland office furniture-maker reported sales of

Contact Us

JSA Consultancy Services
4-5 Gray’s Inn Square, Gray’s Inn,
London, WC1R 5AH, England


+44 (0) 20 7688 1928