4 August 2006 —Des Plaines (IL): United Stationers has posted a doubling of Q2 net income to $41.4 million, from $20.9 million in Q2 2005.
Diluted earnings per share were $1.29, compared to $0.62 in the previous year.
During the quarter, the company completed the sale of its Canadian Division and completed on the acquisition of Sweet Paper.
Q2 net sales rose to $1.1 billion from $1 billion a year earlier. Sales from continuing operations increased by $65 million, a 6.2 percent increase over the previous quarter.
The company posted an improvement to its underlying gross margin to 14.9 percent, attributable to a favourable product mix and the benefits of the company’s global sourcing initiatives.
The quarter benefited from an additional two months of sales related to the Sweet Paper acquisition and from one-time product content syndication/marketing programme income and the sale of two distribution facilities.
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