Steelcase posts 2Q profit

GRAND RAPIDS (AP) - Steelcase Inc. (SCS) on Tuesday reported earnings of $30.5 million in its fiscal second quarter. On a per-share basis, the Grand Rapids, Michigan-based company said it had net income of 24 cents. Earnings, adjusted for restructuring costs, came to 27 cents per share. The office furniture maker posted revenue of $786.7 million in the period. For the current quarter ending in November, Steelcase expects its per-share earnings to range from 24 cents to 28 cents. The company said it expects revenue in the range of $810 million to $835 million for the fiscal third quarter. Steelcase shares have declined 1.5 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $15.62, a drop of 4 percent in the last 12 months. -------- This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. A stock research report on SCS from Zacks is available at: http://www.zacks.com/ap/SCS Published: Thu, Sep 25, 2014