Steelcase (SCS) 8-K Results of Operations and Financial Condition

Exhibit 99.1

FILE CONTENTS: Steelcase Inc.  (NYSE: SCS)
Four Year Segment Detail
One Year Segment Detail by Quarter
Notes:
Amounts expressed in $ million unless otherwise noted.
Reclassifications
Certain amounts in the prior years' financial statements have been reclassified to conform to the current year's segment presentation.
FY2011 Segments	FY2012 Segments
North America	The Americas
Steelcase North America	Steelcase North America Coalesse Latin America
International	EMEA
Europe, Middle East, Africa ("EMEA") Latin America Asia Pacific	Europe, Middle East, Africa ("EMEA")
Other	Other
PolyVision Coalesse Designtex	PolyVision Asia Pacific Designtex
This presentation contains a non-GAAP financial measure. 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 consolidated statements of operations, balance sheets or statements of cash flows of the company. We have provided a reconciliation of the non-GAAP financial measure to the most directly comparable GAAP financial measure.
The non-GAAP financial measure used is adjusted operating income (loss), which represents operating income (loss) excluding restructuring costs, goodwill and intangible assets impairment charges and income (loss) associated with changes in the cash surrender value of variable life company-owned life insurance policies (“variable life COLI income (loss)”). This measure is presented because management uses this information to monitor and evaluate financial results and trends. Therefore, management believes this information is also useful for investors.

Four Year Segment Detail
Steelcase Inc.	February 25, 2011					February 26, 2010					February 27, 2009					February 29, 2008
	(unaudited)					(unaudited)					(unaudited)					(unaudited)
Revenue	$	2,437.1		100.0	%	$	2,291.7		100.0	%	$	3,183.7		100.0	%	$	3,420.8		100.0	%
Cost of sales		1,693.8		69.5			1,619.9		70.7			2,236.7		70.3			2,322.6		67.9
Restructuring costs		25.8		1.1			22.0		0.9			23.9		0.7			(0.4	)	-
Gross profit		717.5		29.4			649.8		28.4			923.1		29.0			1,098.6		32.1
Operating expenses		661.2		27.1			648.4		28.3			842.9		26.5			874.7		25.6
Goodwill and intangible assets impairment charges		-		-			-		-			65.2		2.0			21.1		0.6
Restructuring costs		4.8		0.2			12.9		0.6			14.0		0.5			-		-
Operating income (loss)	$	51.5		2.1	%	$	(11.5	)	(0.5	)	$	1.0		0.0	%	$	202.8		5.9	%
Operating income (loss)	$	51.5		2.1	%	$	(11.5	)	(0.5	%)	$	1.0		0.0	%	$	202.8		5.9	%
Restructuring costs		30.6		1.3			34.9		1.5			37.9		1.2			(0.4	)	-
Goodwill and intangible assets impairment charges		-		-			-		-			65.2		2.0			21.1		0.6
Variable life COLI income (loss)		-		-			33.1		1.4			(41.1	)	(1.3	)		(0.5	)	-
Adjusted operating income (loss)	$	82.1		3.4	%	$	(9.7	)	(0.4	%)	$	145.2		4.5	%	$	224.0		6.5	%
The Americas	February 25, 2011					February 26, 2010					February 27, 2009					February 29, 2008
	(unaudited)					(unaudited)					(unaudited)					(unaudited)
Revenue	$	1,504.6		100.0	%	$	1,389.4		100.0	%	$	1,956.6		100.0	%	$	2,157.6		100.0	%
Cost of sales		1,066.3		70.9			993.0		71.5			1,417.0		72.4			1,501.1		69.6
Restructuring costs		6.6		0.4			8.5		0.6			22.6		1.2			1.7		0.1
Gross profit		431.7		28.7			387.9		27.9			517.0		26.4			654.8		30.3
Operating expenses		360.0		23.9			333.4		24.0			443.8		22.7			465.8		21.5
Goodwill and intangible assets impairment charges		-		-			-		-			1.7		0.1			-		-
Restructuring costs		1.1		0.1			4.1		0.3			10.8		0.5			-		-
Operating income (loss)	$	70.6		4.7	%	$	50.4		3.6	%	$	60.7		3.1	%	$	189.0		8.8	%
Operating income (loss)	$	70.6		4.7	%	$	50.4		3.6	%	$	60.7		3.1	%	$	189.0		8.8	%
Restructuring costs		7.7		0.5			12.6		0.9			33.4		1.7			1.7		0.1
Goodwill and intangible assets impairment charges		-		-			-		-			1.7		0.1			-		-
Variable life COLI income (loss)		-		-			32.9		2.3			(40.5	)	(2.1	)		(0.5	)	-
Adjusted operating income (loss)	$	78.3		5.2	%	$	30.1		2.2	%	$	136.3		7.0	%	$	191.2		8.9	%
EMEA	February 25, 2011					February 26, 2010					February 27, 2009					February 29, 2008
	(unaudited)					(unaudited)					(unaudited)					(unaudited)
Revenue	$	547.3		100.0	%	$	530.3		100.0	%	$	755.9		100.0	%	$	757.4		100.0	%
Cost of sales		390.5		71.4			376.9		71.1			514.1		68.0			508.3		67.1
Restructuring costs		18.7		3.4			10.1		1.9			0.3		-			(2.0	)	(0.3	)
Gross profit		138.1		25.2			143.3		27.0			241.5		32.0			251.1		33.2
Operating expenses		156.1		28.5			160.4		30.2			194.9		25.8			199.1		26.3
Goodwill and intangible assets impairment charges		-		-			-		-			0.3		-			-		-
Restructuring costs		0.4		0.1			4.9		0.9			1.5		0.2			-		-
Operating income (loss)	$	(18.4	)	(3.4	%)	$	(22.0	)	(4.1	%)	$	44.8		6.0	%	$	52.0		6.9	%
Operating income (loss)	$	(18.4	)	(3.4	%)	$	(22.0	)	(4.1	%)	$	44.8		6.0	%	$	52.0		6.9	%
Restructuring costs		19.1		3.5			15.0		2.8			1.8		0.2			(2.0	)	(0.3	)
Goodwill and intangible assets impairment charges		-		-			-		-			0.3		-			-		-
Variable life COLI income (loss)		-		-			-		-			-		-			-		-
Adjusted operating income (loss)	$	0.7		0.1	%	$	(7.0	)	(1.3	%)	$	46.9		6.2	%	$	50.0		6.6	%
Other	February 25, 2011					February 26, 2010					February 27, 2009					February 29, 2008
	(unaudited)					(unaudited)					(unaudited)					(unaudited)
Revenue	$	385.2		100.0	%	$	372.0		100.0	%	$	471.2		100.0	%	$	505.8		100.0	%
Cost of sales		237.0		61.5			250.0		67.2			305.6		64.9			313.2		61.9
Restructuring costs		0.5		0.1			3.4		0.9			1.0		0.2			(0.1	)	-
Gross profit		147.7		38.4			118.6		31.9			164.6		34.9			192.7		38.1
Operating expenses		131.0		34.0			136.8		36.8			176.8		37.5			183.5		36.3
Goodwill and intangible assets impairment charges		-		-			-		-			63.2		13.4			21.1		4.2
Restructuring costs		3.3		0.9			3.9		1.0			1.7		0.4			-		-
Operating income (loss)	$	13.4		3.5	%	$	(22.1	)	(5.9	%)	$	(77.1	)	(16.4	%)	$	(11.9	)	(2.4	%)
Operating income (loss)	$	13.4		3.5	%	$	(22.1	)	(5.9	%)	$	(77.1	)	(16.4	%)	$	(11.9	)	(2.4	%)
Restructuring costs		3.8		1.0			7.3		1.9			2.7		0.6			(0.1	)	-
Goodwill and intangible assets impairment charges		-		-			-		-			63.2		13.4			21.1		4.2
Variable life COLI income (loss)		-		-			-		-			-		-			-		-
Adjusted operating income (loss)	$	17.2		4.5	%	$	(14.8	)	(4.0	%)	$	(11.2	)	(2.4	%)	$	9.1		1.8	%
Corporate	February 25, 2011					February 26, 2010					February 27, 2009					February 29, 2008
	(unaudited)					(unaudited)					(unaudited)					(unaudited)
Operating expenses	$	14.1				$	17.8				$	27.4				$	26.3

One Year Segment Detail by Quarter
Steelcase Inc. - $		Q1 2011			Q2 2011		Q3 2011		Q4 2011	Steelcase Inc. - %		Q1 2011		Q2 2011		Q3 2011		Q4 2011
	(unaudited)										(unaudited)
Revenue	$	541.8		$	599.8	$	672.6	$	622.9	Revenue		100.0	%	100.0	%	100.0	%	100.0	%
Cost of sales		378.8			417.5		461.8		435.7	Cost of sales		69.9		69.6		68.7		70.0
Restructuring costs		1.5			11.7		6.9		5.7	Restructuring costs		0.3		2.0		1.0		0.9
Gross profit		161.5			170.6		203.9		181.5	Gross margin		29.8		28.4		30.3		29.1
Operating expenses		161.9			162.8		176.0		160.5	Operating expenses		29.9		27.1		26.1		25.8
Restructuring costs		1.0			1.3		1.1		1.4	Restructuring costs		0.2		0.2		0.2		0.2
Operating income (loss)	$	(1.4	)	$	6.5	$	26.8	$	19.6	Operating income (loss)		(0.3	%)	1.1	%	4.0	%	3.1	%
Operating income (loss)	$	(1.4	)	$	6.5	$	26.8	$	19.6	Operating income (loss)		(0.3	%)	1.1	%	4.0	%	3.1	%
Restructuring costs		2.5			13.0		8.0		7.1	Restructuring costs		0.5		2.2		1.2		1.1
Adjusted operating income (loss)	$	1.1		$	19.5	$	34.8	$	26.7	Adjusted operating income (loss)		0.2	%	3.3	%	5.2	%	4.2	%

The Americas - $		Q1 2011		Q2 2011		Q3 2011		Q4 2011	The Americas - %		Q1 2011		Q2 2011		Q3 2011		Q4 2011
	(unaudited)									(unaudited)
Revenue	$	332.2	$	369.6	$	406.6	$	396.2	Revenue		100.0	%	100.0	%	100.0	%	100.0	%
Cost of sales		237.0		262.7		286.4		280.2	Cost of sales		71.4		71.1		70.4		70.7
Restructuring costs		1.4		1.9		2.4		0.9	Restructuring costs		0.4		0.5		0.6		0.2
Gross profit		93.8		105.0		117.8		115.1	Gross margin		28.2		28.4		29.0		29.1
Operating expenses		82.5		87.0		91.4		99.1	Operating expenses		24.8		23.5		22.5		25.0
Restructuring costs		-		0.7		0.2		0.2	Restructuring costs		-		0.2		0.1		0.1
Operating income (loss)	$	11.3	$	17.3	$	26.2	$	15.8	Operating income (loss)		3.4	%	4.7	%	6.4	%	4.0	%
Operating income (loss)	$	11.3	$	17.3	$	26.2	$	15.8	Operating income (loss)		3.4	%	4.7	%	6.4	%	4.0	%
Restructuring costs		1.4		2.6		2.6		1.1	Restructuring costs		0.4		0.7		0.7		0.3
Adjusted operating income (loss)	$	12.7	$	19.9	$	28.8	$	16.9	Adjusted operating income (loss)		3.8	%	5.4	%	7.1	%	4.3	%

EMEA - $		Q1 2011			Q2 2011			Q3 2011		Q4 2011		EMEA - %		Q1 2011		Q2 2011		Q3 2011		Q4 2011
	(unaudited)												(unaudited)
Revenue	$	110.7		$	121.8		$	161.4	$	153.4		Revenue		100.0	%	100.0	%	100.0	%	100.0	%
Cost of sales		81.1			88.6			112.5		108.3		Cost of sales		73.3		72.7		69.7		70.6
Restructuring (benefits) costs		-			9.7			4.1		4.9		Restructuring (benefits) costs		-		8.0		2.5		3.2
Gross profit		29.6			23.5			44.8		40.2		Gross margin		26.7		19.3		27.8		26.2
Operating expenses		37.1			34.9			41.4		42.7		Operating expenses		33.5		28.7		25.7		27.8
Restructuring costs		0.2			(0.1	)		0.2		0.1		Restructuring costs		0.2		(0.1	)	0.1		0.1
Operating income (loss)	$	(7.7	)	$	(11.3	)	$	3.2	$	(2.6	)	Operating income (loss)		(7.0	%)	(9.3	%)	2.0	%	(1.7	%)
Operating income (loss)	$	(7.7	)	$	(11.3	)	$	3.2	$	(2.6	)	Operating income (loss)		(7.0	%)	(9.3	%)	2.0	%	(1.7	%)
Restructuring (benefits) costs		0.2			9.6			4.3		5.0		Restructuring (benefits) costs		0.2		7.9		2.6		3.3
Adjusted operating income (loss)	$	(7.5	)	$	(1.7	)	$	7.5	$	2.4		Adjusted operating income (loss)		(6.8	%)	(1.4	%)	4.6	%	1.6	%

Other - $		Q1 2011		Q2 2011		Q3 2011		Q4 2011		Other - %		Q1 2011		Q2 2011		Q3 2011		Q4 2011
	(unaudited)										(unaudited)
Revenue	$	98.9	$	108.4	$	104.6	$	73.3		Revenue		100.0	%	100.0	%	100.0	%	100.0	%
Cost of sales		60.7		66.2		62.9		47.2		Cost of sales		61.4		61.1		60.1		64.4
Restructuring (benefits) costs		0.1		0.1		0.4		(0.1	)	Restructuring (benefits) costs		0.1		0.1		0.4		(0.1	)
Gross profit		38.1		42.1		41.3		26.2		Gross margin		38.5		38.8		39.5		35.7
Operating expenses		36.1		34.3		36.1		24.5		Operating expenses		36.5		31.6		34.5		33.4
Restructuring costs		0.8		0.7		0.7		1.1		Restructuring costs		0.8		0.7		0.7		1.5
Operating income (loss)	$	1.2	$	7.1	$	4.5	$	0.6		Operating income (loss)		1.2	%	6.5	%	4.3	%	0.8	%
Operating income (loss)	$	1.2	$	7.1	$	4.5	$	0.6		Operating income (loss)		1.2	%	6.5	%	4.3	%	0.8	%
Restructuring (benefits) costs		0.9		0.8		1.1		1.0		Restructuring (benefits) costs		0.9		0.8		1.1		1.4
Adjusted operating income (loss)	$	2.1	$	7.9	$	5.6	$	1.6		Adjusted operating income (loss)		2.1	%	7.3	%	5.4	%	2.2	%
Corporate - $		Q1 2011		Q2 2011		Q3 2011		Q4 2011
	(unaudited)
Operating expenses	$	6.2	$	6.6	$	7.1	$	(5.8	)