US office furniture manufacturer Steelcase has reported first quarter revenue of $815.7 million and net income of $22.1 million.

 

North America reported a decline in revenue of 9.0 percent compared to a strong prior year quarter, causing first quarter profits off 34 percent from a year ago. However, the International segment reported 29.1 percent revenue growth driven by strength in Germany, the Middle East, Benelux, Africa and Latin America. 

 

The company expects second quarter fiscal 2009 revenue to increase three to seven percent over the prior year revenue of $825.2 million. The revenue estimate includes favourable currency translation effects of approximately $25 million.