Reuters logo
UPDATE 1-Office Depot posts Q1 profit on lower costs
May 1, 2012 / 11:31 AM / in 5 years

UPDATE 1-Office Depot posts Q1 profit on lower costs

* Q1 EPS ex-items 5 cents, in line with Street view

* Sales fall 3.4 pct to $2.87 billion

NEW YORK, May 1 (Reuters) - Office Depot Inc reported a quarterly profit versus a year-ago loss as the second-largest U.S. office supply retailer kept a tight lid on costs to offset weak sales.

Net earnings were $41 million, or 14 cents a share, in the first quarter, compared with a year-ago loss of $15 million, or 5 cents a share.

Excluding one-time charges, debt extinguishment costs and a favorable pension settlement, the profit was 5 cents a share, in line with analysts’ average forecast, according to Thomson Reuters I/B/E/S.

Sales fell 3.4 percent to $2.87 billion, while analysts expected $2.89 billion.

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below