United Stationers (USTR) Tops Q1 EPS by 1c
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United Stationers Inc. (Nasdaq: USTR) reports Q1 EPS of $0.88, 1 cent better than the analyst estimate of $0.87. Revenues for the quarter were $1.25 billion, versus the consensus of $1.28 billion.
“We are taking action to help offset the effects of a weaker economy that adversely affected sales, particularly in higher margin discretionary products,” said Richard W. Gochnauer, president and chief executive officer of United Stationers. “We reduced product purchases and are managing inventory levels consistent with the sales environment. These actions reduced volume-related supplier allowances earned, while improving inventory turnover, working capital efficiency and cash flow. On a positive note, our sales and earnings were boosted by the investments we have made in the janitorial/breakroom category and the acquisition of ORS Nasco."
United Stationers Inc. (United) is a broad line wholesale distributor of business products.[SM]
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