Depot doubles Q4 profit

16 February 2006 – Delray Beach (FL): Office Depot has said its Q4 profit doubled following lower costs and strong North American sales.
 
The company reported net income of $106.3 million, or EPS of $0.34, up from $52.1 million, or an EPS of $0.17 cents per share, a year earlier.
 
Revenue grew 7 percent to $3.72 billion from $3.47 billion. 
 
CEO Steve Odland said he was pleased with the overall performance of North America in Q4 as the retail division recorded its eighth consecutive quarter of positive comp sales. However he added that "given the strong impact of the holiday season on this comp, we would caution people not to expect this level of performance going forward". In regard to Depot’s international business, Odland said results were "still not where we would like them to be".