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Article: Detroit Free Press Michigan Memo Column.
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- March 27, 1998
CopyrightCOPYRIGHT 1998 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Detroit Free Press Knight Ridder/Tribune Business News
Mar. 27--STEELCASE INC., in its first earnings announcement since becoming publicly traded Feb. 18, reported record income of $217 million, or $1.40 per share, on record sales of $2.76 billion in fiscal 1998, which ended Feb. 27. The Grand Rapids office-furniture manufacturer earned $27.7 million, or 18 cents per share, on sales of $2.41 billion in fiscal 1997.
For fourth-quarter fiscal 1998, Steelcase earned $53.7 million, or 35 cents per share, on revenues of $700 million, compared with net income of $36.5 million, or 24 cents per share, on sales of $633 million for the same three months a ...