United Stationers, Inc. (USTR) Misses Q1 EPS by 2c

United Stationers, Inc. (NASDAQ: USTR) reported Q1 EPS of $0.55, $0.02 worse than the analyst estimate of $0.57. Revenue for the quarter came in at $1.25 billion versus the consensus estimate of $1.22 billion.

Outlook

"We recently completed the bid process at Office Depot. As a result of this process, we were named the second call office products supplier, which will result in the loss of some business. However, we were also named the primary supplier for janitorial and breakroom products, which will result in some new business and is consistent with our diversification strategy into growth categories. Many factors can influence the financial impact of this specific customer situation, but absent any mitigating actions we will take, we estimate a reduction in earnings per share in a range of $0.05 to $0.08 in the second half of 2014. Office Depot continues to be a valued customer, and we look forward to supporting both categories of business. We also remain well positioned with a robust sales pipeline and active discussions regarding new business with a range of strategic customers," Phipps commented.

"We remain committed to our long-term strategy of strengthening and extending our core businesses while diversifying into higher growth and higher margin channels and categories. We continue to see opportunities for growth in the janitorial and breakroom, industrial, and online markets and plan to capitalize on them," Phipps concluded.

For earnings history and earnings-related data on United Stationers, Inc. (USTR) click here.

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