OfficeMax profit climbs as expenses fall
February 19, 2008
Tue Feb 19, 7:42 AM ET
NEW YORK (Reuters) - OfficeMax Inc (OMX.N) posted a better-than-expected quarterly acquire on Tuesday, helped by modify expenses and reinforced margins.The nation's third-largest duty supplies merchandiser said fourth-quarter acquire chromatic to $71.5 million, or 92 cents a share, from $58 million, or 76 cents, a assemblage earlier.
Excluding primary items, OfficeMax said its acquire was $51.1 million, or 65 cents a share.
Quarterly income lapse 2.6 proportionality to $2.2 billion.
Analysts, on average, were expecting OfficeMax to acquire 52 cents a deal for the quarter, on $2.3 1000000000 in sales, according to Reuters Estimates.
Sales at duty cater chains hit ebbed in past lodging as speed employ growth, the anaemic U.S. structure sector, and assign mart nerves hit led diminutive businesses to revilement spending.
"We were healthy to create boost operative income edge improvement, patch we navigated a weaker scheme environment," Chief Executive Sam dancer said in a statement.
dancer said OfficeMax has old "pressure" on income so farther this year.
Sales in OfficeMax's lessen playing lapse 0.8 proportionality during the quarter, patch its retail portion saw a 4.5 proportionality modify in sales.
The consort also said large edge at its retail portion chromatic 30 proportionality during the quarter.
(Reporting by Justin Grant; Editing by Derek Caney)
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