United Stationers Inc. Reports Second Quarter 2006 Results and Announces New Share Repurchase Authorization.
Business Wire › August 03, 2006
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United Stationers Inc. Reports Second Quarter 2006 Results and Announces New Share Repurchase Authorization.
DES PLAINES, Ill. -- United Stationers Inc. (NASDAQ:USTR) reported second quarter 2006 net sales of $1.1 billion, versus $1.0 billion for the second quarter of 2005. Net income for the second quarter of 2006 was $41.4 million, compared with $20.9 million in the same period last year. Diluted earnings per share for the second quarter of 2006 were $1.29, up significantly from $0.62 in the prior-year quarter. The second quarter of 2006 benefited from one-time product content syndication/marketing program income and the sale of two distribution facilities. In addition, the company completed the sale of its Canadian Division on June 9, 2006.
"Our record second quarter results reflect strong progress in many key areas of our business as well as significant one-time benefits," said Richard W. Gochnauer, president and chief executive officer. "We are taking the appropriate actions to ensure that our underlying operating performance continues to improve. Longer term, we believe we have further opportunities to improve our profitability through our margin initiatives and by extending our War on Waste (WOW) initiatives to other areas of the business." Second Quarter Results - Continuing Ope...See the full content of this document
