Office Depot Inc. (NYSE: ODP) said this morning that it swung to a third-quarter loss of $69.6 million, or $0.25 per share, due in part to declining same-store sales in North America on dwindling sales of computers and related products.
Excluding restructuring and impairment charges, the Boca Raton-based specialty retailer posted adjusted earnings per share (EPS) of $0.06 on revenues of $2.69 billion for the quarter. In the same period a year ago, the company reported $0.00 per share on revenues of $2.84 billion. The quarter’s results also compare to the consensus estimates for EPS of $0.1 and $2.73 million in revenues.
The company also said its total gross profit margin increased about 90 basis points in the third quarter of 2012, compared to the prior year period. And Office Depot ended the quarter with free cash flow of $190 million, up significantly from $139 million reported in the year-ago period.
The report did not offer guidance, but the Thomson Reuters consensus estimates call for EPS to tick up to $0.04 on sales of $2.85 billion. For the full year, analysts are looking for a net loss of $0.03 per share and $10.98 billion in revenues.
Office Depot shares are inactive in premarket trading but closed yesterday at $2.51. The 52-week range is $1.51 to $3.81.
Get Ready To Retire (Sponsored)
Start by taking a quick retirement quiz from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes, or less.
Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests.
Here’s how it works:
1. Answer SmartAsset advisor match quiz
2. Review your pre-screened matches at your leisure. Check out the advisors’ profiles.
3. Speak with advisors at no cost to you. Have an introductory call on the phone or introduction in person and choose whom to work with in the future
Get started right here.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.