OFFICE DEPOT DOUBLES 4TH Q. PROFIT

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OFFICE DEPOT DOUBLES 4TH Q. PROFIT

 user 2006-02-20 at 10:02:00 am Views: 62
  • #14011

    Depot doubles Q4 profit
    February
    2006 – Delray Beach (FL): Office Depot has said its Q4 profit doubled
    following lower costs and stronG North American sales.

    The
    company reported net income of $106.3 million, or EPS of $0.34, up from
    $52.1 million, or an EPS of $0.17 cents per share, a year earlier.
    Revenue
    grew 7 percent to $3.72 billion from $3.47 billion. CEO Steve Odland
    said he was pleased with the ovall performance of North America in Q4
    as the retail division recorded its eighth consecutive quarter of
    positive comp sales. However he added that “given the strong impact of
    the holiday season on this comp, we would caution people not to expect
    this level of performance going forward”. In regard to Depot’s
    international business, Odland said results were “still not where we
    would like them to be”