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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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