Steelcase Inc. (NYSE:SCS) Files An 8-K Results of Operations and Financial Condition
Item 2.02. Results of Operations and Financial Condition.
On December 8, 2016, the Company issued a press release
announcing preliminary financial results for the quarter ended
November 25, 2016. A copy of the press release is attached as
Exhibit 99.1.
The press release contains a non-GAAP financial measure. A
non-GAAP financial measure is defined as a numerical measure of a
company’s financial performance that excludes or includes
amounts so as to be different than the most directly comparable
measure calculated and presented in accordance with GAAP in the
statements of income, balance sheets or statements of cash flows
of the Company. to the requirements of Regulation G, the Company
has provided a reconciliation within the press release of the
non-GAAP financial measure to the most directly comparable GAAP
financial measure.
The non-GAAP financial measure used within the Company’s press
release is adjusted earnings per share, which represents earnings
per share, excluding restructuring costs (benefits), and the
related income tax effect.
This measure is presented because management uses this
information to monitor and evaluate financial results and trends.
Therefore, management believes this information is also useful
for investors.
The information furnished to this Item 2.02 to this Current
Report on Form 8-K (including the exhibits hereto) shall not be
considered filed under the Securities Exchange Act of 1934, as
amended, nor shall it be incorporated by reference into future
filings by the Company under the Securities Act of 1933, as
amended, or under the Securities Exchange Act of 1934, as
amended, unless the Company expressly sets forth in such future
filing that such information is to be considered filed or
incorporated by reference therein.
Item 9.01. Financial Statements and Exhibits.
(d) EXHIBITS.
Exhibit Number |
Description |
|
| 99.1 |
Preliminary Financial Results – Third Quarter Ended November 25, 2016 |
About Steelcase Inc. (NYSE:SCS)
Steelcase Inc. provides an integrated portfolio of furniture settings, user-centered technologies and interior architectural products. The Company’s segments include Americas, EMEA and Other Category. 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. Its technology solutions support group collaboration by integrating furniture and technology. Its interior architectural products include full and partial height walls and doors. It also offers services, which include workplace strategy consulting, lease origination services, furniture and asset management and hosted spaces. Its family of brands includes Steelcase, Coalesse, Designtex, PolyVision and Turnstone. Steelcase Inc. (NYSE:SCS) Recent Trading Information
Steelcase Inc. (NYSE:SCS) closed its last trading session down -0.30 at 16.40 with 512,521 shares trading hands.