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, 49508
Grand Rapids, Michigan (Zip Code)
(Address of principal executive offices)
(616) 247-2710
(Registrant's telephone number)
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ITEM 9. Regulation FD Disclosure
On April 1, 2003, Steelcase Inc. ("the Company") held a public webcast regarding
its fourth quarter and fiscal year results, which were announced on March 31,
2003. During the webcast, management communicated that it expects the Company to
be profitable, excluding non-recurring items, for the fiscal year ending
February 27, 2004.
The above constitutes a "forward-looking statement", involving certain risks and
uncertainties that could cause actual results to vary. The company's performance
may differ materially from that contemplated for a variety of reasons,
including, but not limited to: competitive and general economic
conditions/uncertainty domestically and internationally; delayed or lost sales
and other impacts related to acts of terrorism, acts of war and governmental
action; changes in domestic and international government laws and regulations;
major disruptions at our key facilities or in the supply of any key raw
materials; competitive pricing pressure; pricing changes by the company or its
competitors; currency fluctuations; changes in customer demand and order
patterns; changes in relationships with customers, suppliers, employees and
dealers; product (sales) mix; the success (including product performance and
customer acceptance) of new products, current product innovations and platform
simplification, and their impact on the company's manufacturing processes;
possible acquisitions or divestitures by the company; the company's ability to
reduce costs, including ramp-up costs associated with new products and to
improve margins on new products; the impact of workforce reductions (including
elimination of temporary workers, hourly layoffs, early retirement programs and
salaried workforce reductions); the company's success in integrating acquired
businesses, initiating and managing alliances and global sourcing, transitioning
production of its products to other manufacturing facilities as a result of
production rationalization and implementing technology initiatives; changes in
business strategies and decisions; and other risks detailed in the company's
Form 10-K for the year ended February 22, 2002 and other filings with the
Securities and Exchange Commission.
Additionally, the webcast contained 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 of all non-GAAP financial measures not previously
reconciled to the most directly comparable GAAP financial measure within the
earnings release. Details and links to the webcast along with any additional
reconciliations of non-GAAP financial measures discussed during the webcast have
been posted to the Company's website at steelcase.com.
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)