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United Stationers posts strong Q2
August
2006 —Des Plaines (IL): United Stationers has posted a doubling of Q2
net income to $41.4 million, from $20.9 million in Q2 2005.Diluted
earnings per share were $1.29, compared to $0.62 in the previous
year.During the quarter, the company completed the sale of its Canadian
Division and completed on the acquisition of Sweet Paper.Q2 net sales
rose to $1.1 billion from $1 billion a year earlier. Sales from
continuing operations increased by $65 million, a 6.2 percent increase
over the previous quarter.The company posted an improvement to its
underlying gross margin to 14.9 percent, attributable to a favourable
product mix and the benefits of the company’s global sourcing
initiatives.The quarter benefited from an additional two months of
sales related to the Sweet Paper acquisition and from one-time product
content syndication/marketing programme income and the sale of two
distribution facilities.
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