(Source: Datamonitor)
OfficeMax, an office products and services company, has reported a net income available to its common shareholders of $5.66 million, or $0.07 per share, for the third quarter ended September 26, 2009, compared to a net loss available to its common shareholders of $432.69 million, or $5.7 per share, for the third quarter of 2008.
For the third quarter of 2009, sales were $1.83 billion, a decline of 12.6%, compared to $2.1 billion for the same quarter of 2008.
For the first nine months of 2009, sales were $5.4 billion, compared to $6.38 billion for the same period of 2008. Net income available to its common shareholders was $1.09 million, or $0.01 per share, compared to a net loss available to its common shareholders of $1.26 billion, or $16.69 per share, for the same period of 2008.
Sam Duncan, chairman and CEO of OfficeMax, said: "We are proud of the progress we are making with our business in this tough economy. While continued lower sales levels strained our profitability this quarter, we managed to mitigate the impact by reducing costs and improving our operations. Our relentless focus on implementing disciplined growth initiatives, differentiating our business, and increasing our productivity continue to significantly benefit our performance."
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