Date: Friday November 4, 2005 10:21:00 am
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United Stationers Q3 profit down
NOV 2005 – Des Plaines (IL): United Stationers has reported a slip in Q3 profit due to the effects of Hurricane Katrina, higher fuel prices and IT costs.
Net income fell to $26.1 million, or EPS of $0.77, from $26.3 million, or EPS of $0.78, the year before. Sales were up 13 per cent to $1.2 billion, compared to $1 billion a year earlier.
The company said it incurred $3.1 million in costs due to Hurricane Katrina, and was hit by charges and expenses totalling $3.9 million from IT investment and the opening of a New Jersey distribution centre. Higher fuel prices hurt net income by approximately $1 million.
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