Steelcase profitability on the rise

Steelcase reported $2.9 billion in revenue in fourth quarter.

Steelcase reported $2.9 billion in revenue in fourth quarter.

Excerpts from the story:

Steelcase Inc., the world’s top office furniture maker, on Wednesday posted a higher fourth-quarter profit.

Steelcase’s net income rose to $11.2 million, or 8 cents a share, for its fiscal fourth quarter that ended February 24, from $1 million, or 1 cent a share, in the year-earlier quarter.

Sales at the Grand Rapids, Michigan-based company rose 7 percent from last year to $739.3 million, above the $736.8 million analysts had expected.

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