Office Depot Inc. said its normalized net income for the fiscal first quarter ended March 28 amounted to 13 cents per share, compared with the S&P Capital IQ consensus estimate of 13 cents per share.
EPS increased year over year from 6 cents.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $73.8 million, a gain from $32.8 million in the year-earlier period.
The normalized profit margin rose to 1.9% from 0.8% in the year-earlier period.
Total revenue decreased 11.0% year over year to $3.88 billion from $4.35 billion, and total operating expenses fell 12.6% on an annual basis to $3.74 billion from $4.28 billion.
Reported net income came to $44.2 million, or 8 cents per share, compared to a loss of $111.3 million, or a loss of 21 cents per share, in the year-earlier period.
