OfficeMax Beats on Earnings, Reinstates Dividend


24/7 Wall St.

OfficeMax Inc. (NYSE: OMX) reported second-quarter earnings per share (EPS) of $0.12 and $1.6 billion in revenue before markets opened this morning. EPS surpassed last year’s total of $0.07, and revenue declined from last year’s second-quarter total of $1.65 billion by 2.7%. The results compare to the Thomson Reuters consensus estimates for EPS of $0.07 and $1.64 billion in revenue.

OfficeMax reinstated a quarterly dividend of $0.02, with the first payment scheduled for August 31. The company suspended its dividend in the fourth quarter of 2008.

The office supply retailer expects third-quarter revenue to be flat or slightly higher than the same period a year ago, when revenue totaled $1.77 billion. OfficeMax also expects third-quarter adjusted operating income margin of 2.3%, in line with last year’s number. For the full-fiscal year, the company expects revenues in line with the 2011 total of $7.12 billion. That total includes an…

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