Office Depot profit doubles on one-time gains; adjusted results miss Street

Boca Raton, Fla. -- Office Depot's fiscal third-quarter net income more than doubled, but its adjusted results missed analysts’ expectations amid sales declines in North America.

The company earned $91.7 million for the period ended Sept. 24, compared with $32 million a year earlier. But excluding $6 million in restructuring charges and other costs and a $99 million tax benefit, the company lost about $700,000, or break-even per share.

Revenue decreased 2% to $2.84 billion from $2.9 billion amid declining for its North American retail and business solutions units.

Revenue for the international division was up 1%.
 

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