Office Depot Returns to Profit After Three Quarters of Losses

Features Reuters

Office supply retailer Office Depot Inc reported its first quarterly profit after three quarters of losses, and raised its full-year adjusted operating income forecast.

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Net income attributable to common shareholders was $29 million, or 5 cents per share, for the third quarter ended Sept. 27, compared with $133 million, or 41 cents per share, a year earlier, when it had a gain from the sale of its Mexico joint venture.

Revenue rose to $4.1 billion from $2.62 billion after including sales from its OfficeMax acquisition.

Office Depot raised its 2014 forecast for adjusted operating income to between $255 million and $265 million. It had earlier expected not less than $200 million.

(Reporting By Yashaswini Swamynathan in Bangalore; Editing by Feroze Jamal)