Staples Inc. Reveals 7% Drop In Q1 Earnings

(RTTNews) - Staples Inc. (SPLS) reported a profit for first quarter that decreased compared to the same period last year.

The company said its profit fell to $113 million, or $0.17 per share. This was down from $121 million, or $0.19 per share, in last year's first quarter.

Analysts had expected the company to earn $0.17 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 4.8% to $4.15 billion. This was down from $4.36 billion last year.

Staples Inc. earnings at a glance:

-Earnings (Q1): $113 Mln. vs. $121 Mln. last year. -Earnings Decline (Y-o-Y): -6.6% -EPS (Q1): $0.17 vs. $0.19 last year. -EPS Decline (Y-o-Y): -10.5% -Analysts Estimate: $0.17 -Revenue (Q1): $4.15 Bln vs. $4.36 Bln last year. -Revenue Change (Y-o-Y): -4.8%

-Guidance: Next quarter EPS guidance: $0.10 - $0.13