WASHINGTON (dpa-AFX) - Office Depot Inc. (ODP) revealed earnings for first quarter that dropped compared to the same period last year.
The company said its earnings declined to $57 million, or $0.10 per share. This was lower than $71 million, or $0.13 per share, in last year's first quarter.
Analysts had expected the company to earn $0.12 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company said revenue for the quarter fell 8.8% to $3.54 billion. This was down from $3.88 billion last year.
Office Depot Inc. earnings at a glance:
-Earnings (Q1): $57 Mln. vs. $71 Mln. last year. -Earnings Decline (Y-o-Y): -19.7% -EPS (Q1): $0.10 vs. $0.13 last year. -EPS Decline (Y-o-Y): -23.1% -Analysts Estimate: $0.12 -Revenue (Q1): $3.54 Bln vs. $3.88 Bln last year. -Revenue Change (Y-o-Y): -8.8%
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