OfficeMax’s Quarterly Loss Smaller, Forecast Up For 2010 (OMX)
February 17, 2010 6:14 PM
OfficeMax, Inc. (NYSE: OMX), provider of office supplies, paper, and other related products, posted loss of $3.2 million in the fourth-quarter, compared to a loss of $396.0 million a year earlier.
The loss which was 3 cents per share was also lower than analysts’ expectations of 7 cents per share. The quarterly sales fell by about 4% to $1.81 billion but were higher than analyst estimates of $1.73 billion.
OfficeMax suffered from the challenging economic conditions, and unemployment trends in the US, and believes it may be adversely affected by these in the near term. The company, however, believes that it has good liquidity levels, and is well positioned to take advantage when the economy recovers.
OfficeMax projected 2010 sales, and operating margins to be slightly higher than the 2009 levels.
