"We demonstrated progress on our turnaround plan in the fourth quarter and for the full year 2007"
OfficeMax Inc. , citing 'progress in our turnaround plan,' said Tuesday that fourth-quarter earnings rose solidly despite a decline in sales.
The Naperville office-products retail chain had net income in the latest quarter of $71.5 million, or 92 cents a diluted share, up from the year-earlier $58.0 million, or 76 cents a share.
Revenues, reflecting the divestiture of certain operations, slipped 2.6 percent to $2.20 billion from $2.26 billion.
Excluding special items that affected both quarters, OfficeMax said, underlying earnings were $51.1 million, or 65 cents a share, up 37 percent from the year-ago quarter's adjusted $37.2 million, or 48 cents a share. Read more
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OfficeMax Inc. , citing 'progress in our turnaround plan,' said Tuesday that fourth-quarter earnings rose solidly despite a decline in sales.
The Naperville office-products retail chain had net income in the latest quarter of $71.5 million, or 92 cents a diluted share, up from the year-earlier $58.0 million, or 76 cents a share.
Revenues, reflecting the divestiture of certain operations, slipped 2.6 percent to $2.20 billion from $2.26 billion.
Excluding special items that affected both quarters, OfficeMax said, underlying earnings were $51.1 million, or 65 cents a share, up 37 percent from the year-ago quarter's adjusted $37.2 million, or 48 cents a share. Read more
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