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
April 1, 2003
Date of Report (date of earliest event reported)
Commission File Number 1-13873
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STEELCASE INC.
(Exact name of registrant as specified in its charter)
Michigan 38-0819050
(State of incorporation) (IRS employer identification number)
901 44th Street,
Grand Rapids, Michigan 49508
(Address of principal executive offices) (Zip Code)
(616) 247-2710
(Registrant's telephone number)
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ITEM 9. Regulation FD Disclosure
See Item 12. Results of Operations and Financial Condition
ITEM 12. Results of Operations and Financial Condition
On March 31, 2003, Steelcase Inc. ("the Company") reported its fourth quarter
and fiscal year results and is furnishing the earnings release required under
Item 12. The following exhibit is included herein:
EXHIBIT 99.1 Earnings Release - Fourth Quarter and Fiscal Year Ended
February 28, 2003
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 in monitoring and
evaluating the on-going financial results and trends excluding these items. The
non-GAAP financial measures used within the Company's earnings release include:
- Fourth quarter and year-to-date net income and earnings per share excluding
non-recurring items;
- Fourth quarter and year-to-date operating income by segment excluding
non-recurring items; and
- Outlook on an earnings per share basis excluding non-recurring items.
Management believes this information is also useful for investors because the
non-recurring items represent transactions that are unusual due to their nature,
size or infrequency. As a result, management believes excluding non-recurring
items in the Company's results provides users of the financial statements an
important insight into operating results and trends.
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: April 1, 2003
/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)