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Steelcase Inc SCS
Q4 2012 Earnings Call Transcript

Transcript Call Date 03/23/2012

Operator: Good day everyone, and welcome to Steelcase's Fourth Quarter Fiscal 2012 Conference Call. As a reminder today's call is being recorded.

For opening remarks and introduction, I would like to turn the conference over to Mr. Raj Mehan, Director of Investor Relations and Assistant Treasurer. Please go ahead.

Raj Mehan - Director IR: Thank you, Ally. Good morning everyone. Thank you for joining us for the recap of our fourth quarter and fiscal year 2012 financial results. Here with me today are Jim Hackett, our President and Chief Executive Officer; Dave Sylvester, our Chief Senior Vice President and Chief Financial Officer; Mark Mossing, Corporate Controller and Chief Accounting Officer; and Terry Lenhardt, Vice President Finance for the Americas and EMEA segments.

Our fourth quarter earnings release, which crossed the wires yesterday, is accessible on our website. This conference call is being webcast, and presentation slides that accompany this webcast are available on ir.steelcase.com. A replay of this call will also be posted to the site later today.

In addition to our prepared remarks, we'll respond to questions from investors and analysts. Our discussion today will include references to non-GAAP financial measures. These measures are presented because management uses this information to monitor and evaluate financial results and trends. Therefore, management believes this information is also useful for investors.

Reconciliations to the most comparable GAAP measures are included in this earnings release and webcast slides. At this time, we are incorporating by reference into this conference call and the subsequent transcript text of our Safe Harbor statement included in yesterday's release.

Certain statements made within the release and during this conference call constitute forward-looking statements. There are risks associated with the use of this information for investment decision making purposes. For more details on these risks, please refer to yesterday's press release and Form 8-K, the Company's 10-K for the year ended February 25, 2011 and our other filings with the Securities and Exchange Commission. This webcast is copyrighted production of Steelcase Inc.

With those formalities out of the way, I will turn the call over to our President and CEO, Jim Hackett.

James P. Hackett - President and CEO: Thank you Raj. Good morning everyone. It's been exactly one week since our Company officially turned 100 years old and it has been an honor and privilege to celebrate with our employees around the world.

Now, more on my thoughts about the anniversary at the end of these comments, but first I want to talk about the results for this quarter and I can't help, but point out the irony that we are stepping back from our 100-year history of being in business to focus on the last 90 days.

The management team has worked extremely hard at rebuilding our business in recent years and I want to confirm with this report that we are about long term value. This quarter brings us to the close of a fiscal year in which our net income more than doubled, and overall, we are pleased with the continued momentum in our top line this quarter, particularly the 13% organic revenue growth in the Americas. We are outperforming the industry right now in that same region.

Read our Earnings Call Transcript disclaimer.
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