Staples (NASDAQ:SPLS) saw its profit fall in the most recent quarter.
Earnings and Revenue The company fell short of estimates with EPS of 27 cents a share and revenues of $6.1 billion. Analysts were expecting EPS of 30 cents a share and revenues of $6.19 billion. The company's reported EPS came in below the low estimate of 14 analysts of a profit of 28 cents.
The company's net income for the quarter was $187.1 million. According to the reported number, this is down 5.6% from last year's levels. Revenue fell 1.1% from $6.17 billion in the same period last year.
Company Fundamental Trends With last quarter's falling profit, The company ends a run of at least four consecutive quarters of year-over-year profit increases. Slumping revenue in the last quarter ends The company's streak of at least four consecutive quarters of revenue increases.
History Against Expectations The company missed estimates last quarter after meeting expectations the quarter before. It reported net income of 41 cents.
Official Comment: "In North America we continue to build momentum in categories beyond office supplies while trends in our international business remain soft," said Ron Sargent, Staples' chairman and chief executive officer. "Our plans remain on track to grow both sales and earnings during 2012."
Estimates provided by Zacks Investment Research and company fundamentals from Xignite Financials.