UPDATE 1-Staples posts weak Q4; says will not give '09 outlook

miércoles 11 de marzo de 2009 13:13 CET

* Q4 adj EPS $0.36/shr vs est $0.42/shr

* Revenue $6.17 bln vs est $6.79 bln

* Says will not give 2009 outlook

March 11 (Reuters) - Staples Inc (SPLS.O: Cotización) posted a 14 percent fall in quarterly profit, hurt by weak sales of furniture and computers, and said it will not give outlook for 2009 due to uncertain economic conditions.

Staples continues to see cost savings of up to $300 million over the three-year integration period from the acquisition of Corporate Express, which it bought in July last year.

For the quarter ended Jan. 31, the world's largest office products retailer posted net income of $286.0 million, or 40 cents a share, compared with $333.2 million, or 47 cents a share, a year earlier.

Excluding charges related to the Corporate Express acquisition, the company earned 36 cents a share.

Revenue rose 16 percent to $6.17 billion. Excluding sales from Corporate Express, revenue fell 14 percent in the quarter.

Analysts were expecting the company to earn 42 cents a share, before special items, on revenue of $6.79 billion, according to Reuters Estimates.

Shares of Staples, which competes with OfficeMax Inc OMX.N and Office Depot Inc ODP.N, were down 5 percent at $15.00 in trading before the bell. (Reporting by Nivedita Bhattacharjee in Bangalore; Editing by Anne Pallivathuckal)