Office Depot, Inc. (ODP), a global provider of office products, services, and solutions formed by the merger of Office Depot and OfficeMax Incorporated, reported a net loss available to stockholders of $84 million or $0.15 per share for the fourth quarter ended December 27, 2014. In the fourth quarter of prior year, net loss to shareholders was $144 million or $0.34 per share. Office Depot's reported results for the fourth quarter ended December 27, 2014 include the financial results from OfficeMax, whereas prior year reported results include only OfficeMax's operations from November 5, 2013, the date of the merger, through December 28, 2013. Adjusted net income available to stockholders for the fourth quarter of 2014 was $40 million, or $0.07 per share.
On average, 16 analysts polled by Thomson Reuters expected the company to report profit per share of $0.04 for the quarter. Analysts' estimates typically exclude special items.
Total reported sales for the fourth quarter of 2014 were $3.8 billion compared to $3.5 billion in the fourth quarter of 2013, and were 6% lower than combined pro forma sales of $4.1 billion in the fourth quarter of the prior year. Analysts expected revenue of $3.91 billion for the quarter.
Office Depot expects total company sales in 2015 to be lower than 2014, primarily due to its decision to close certain stores, the negative impact of currency translation, and continued challenging market conditions. Due to the announced agreement to be acquired by Staples, Office Depot is withdrawing previous guidance for 2015 adjusted operating income and free cash flow based on the associated uncertainty with vendors, customers, and employees.
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