GRAND RAPIDS, Mich. (AP) _ Steelcase Inc. (SCS) on Tuesday reported a fiscal first-quarter loss of $38.1 million, after reporting a profit in the same period a year earlier.

The Grand Rapids, Michigan-based company said it had a loss of 33 cents per share. Losses, adjusted for asset impairment costs, were 18 cents per share.

The office furniture maker posted revenue of $482.8 million in the period.

Steelcase shares have fallen 41% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $12.08, a decline of 30% in the last 12 months.


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