Steelcase, the world's largest office furniture maker, reported break-even net income for the third quarter of fiscal 2010, and another quarter of sequential sales growth.

Third quarter revenue of $616.1 million represented a decline of 24.1 percent compared to $811.3 million in the prior year quarter. Revenue declines occurred across most geographic markets, customer segments and product categories, but moderated compared to the last three quarters as the third quarter of the prior year marked the start of the current downturn in the office furniture industry.

"I am pleased we experienced another quarter of sequential revenue growth," said James P. Hackett, president and chief executive officer. "While the timing of a complete industry recovery remains difficult to predict, we have seen the seasonal trend in the second and third quarters, along with stabilizing day-to-day order levels and the return of modest calendar year-end business, which provide further evidence that the first quarter of this fiscal year may have represented the low water mark for Steelcase in this recession."