‘Max sets $9.8m legal reserve

3 May 2005 – Itacsa (IL): OfficeMax has established a pre-tax additional reserve of $9.8 million against its Q1 results, which were announced on 21 April.

The reserve stems from information received after issuing Q1 results and relates to an ongoing 2003 legal dispute, the company said.

The OP giant will incorporate the reserve in its quarterly results due to be filed with the Securities and Exchange Commission by 5 May, when the company is expected to report a net loss of $5.3 million, or EPS of $0.07.