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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
March 30, 2004
Commission File Number 1-13873
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STEELCASE INC.
Michigan 38-0819050
(State of incorporation) (IRS employer identification number)
901 44th Street SE
Grand Rapids, Michigan 49508
(Address of principal executive offices) (Zip code)
(616) 247-2710
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ITEM 12. Results of Operations and Financial Condition
On March 29, 2004, Steelcase Inc. ("the Company") reported its fourth quarter
fiscal 2004 results and is furnishing the earnings release as Exhibit 99.1
attached hereto. Members of the public are invited to listen to the Company's
webcast conference call and view the accompanying presentation slides on
Tuesday, March 30, 2004 at 11:00 a.m. EDT through the link at www.steelcase.com.
The presentation slides will be available at www.steelcase.com shortly before
and during the webcast. A replay of the webcast, including presentation slides,
can also be accessed through the Company's website through April 30, 2004.
The earnings release contains various non-GAAP financial measures. 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 statement of income, balance sheet or statement of cash flows of the
Company. Pursuant to the requirements of Regulation G, the Company has provided
a reconciliation within the earnings release of all non-GAAP financial measures
to the most directly comparable GAAP financial measure.
For each non-GAAP financial measure presented in the earnings release, the
measure is presented because management uses this information to monitor and
evaluate financial results and trends. The non-GAAP financial measures used
within the Company's earnings release include:
-- The percentage change in fourth quarter and year-to-date consolidated
revenue versus the percentage change in the same periods in the prior
year excluding the impact of the extra week in the prior fiscal year;
-- Fourth quarter revenue by segment versus the same quarter last year
excluding the impact of the extra week in the fourth quarter of the
prior year.
Management believes this information is useful for investors because the extra
week in the prior year had a significant impact on the Company's results, and
disregarding the extra week would inappropriately distort the year over year and
quarter over quarter comparisons.
The information furnished pursuant to this Current Report on Form 8-K (including
the exhibit 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.
EXHIBIT INDEX
Exhibit
Number Description
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99.1 Earnings Release - Fourth Quarter Ended February 28, 2004
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
STEELCASE INC.
Date: March 30, 2004
/S/ JAMES P. KEANE
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James P. Keane
Senior Vice President
and Chief Financial Officer
(Duly Authorized Officer and
Principal Financial Officer)