Revenue Update on Steelcase(NYSE:SCS)

Steelcase(NYSE:SCS) announced the earnings results for Fiscal Year 2017 and Q2. The results came in during After-hours on Sep 21, 2016. Company reported revenue of $758.00M. Analysts estimated a revenue of $785.30M. Earnings per share were $0.32. Analysts had estimated an EPS of $0.32.

Steelcase (SCS) shares turned negative on Tuesdays trading session with the shares closing down -1.11 points or -7.95% at a volume of 26,16,120. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $13.51. The peak price level was also seen at $13.51 while the days lowest was $12.77. Finally the shares closed at $12.86. The 52-week high of the shares is $20.37 while the 52-week low is $11.67. According to the latest information available, the market cap of the company is $1,533 M.

Several Insider Transactions has been reported to the SEC. On Jun 29, 2016, Sara E Armbruster (VP, Strategy, Research & NBI) sold 14,000 shares at $13.50 per share price.Also, On Nov 3, 2015, Eddy F Schmitt (Senior VP, Americas) sold 10,745 shares at $19.61 per share price.On Oct 19, 2015, Lizbeth S O’shaughnessy (SVP, CAO, GC and Secretary) sold 40,000 shares at $19.67 per share price, according to the Form-4 filing with the securities and exchange commission.

Steelcase Inc. (Steelcase) provides an integrated portfolio of furniture settings user-centered technologies and interior architectural products. The Company’s furniture portfolio includes panel-based and freestanding furniture systems and complementary products such as storage tables and ergonomic worktools. Its seating products include task chairs which are ergonomic seating that can be used in collaborative or casual settings and specialty seating for specific vertical markets such as healthcare and education. The Company’s technology solutions support group collaboration by integrating furniture and technology. Its interior architectural products include full and partial height walls and doors. The Company’s family of brands include Steelcase Coalesse Details Designtex PolyVision and Turnstone. The Company’s operational segments include Americas Europe the Middle East and Africa (EMEA) Other Category and Corporate.

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