GRAND RAPIDS, MI – Steelcase Inc. reported first quarter profits were down 34% from a year ago, according to mlive.com. Global sales, including Europe, the Middle East, Africa and Latin America, increased by 29%.
Profits for the quarter ended May 30 came in at $22.1 million, compare to $33.6 million during the first quarter of 2007. Sales for the first quarter were $815.7 million, which was 0.9% over last year’s sales of $808.5 million.
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