Staples 2nd-quarter net income rises 36 percent

[August 17, 2011]  FRAMINGHAM, Mass. (AP) -- Staples says second-quarter net income rose 36 percent, helped by a tax refund and stronger international revenue.

The office supply retailer also gave a full-year forecast that exceeds Wall Street's expectations.

Staples Inc. said Wednesday that net income rose to $176.4 million, or 25 cents per share, from $129.8 million, or 18 cents per share last year.

Net income totaled 22 cents per share excluding a tax refund. Analysts expected earnings of 20 cents per share.

Revenue rose 5 percent to $5.82 billion. Analysts expected $5.64 billion.

Revenue from Staples' North American Delivery business rose 3 percent to $2.4 billion. Its North American retail revenue rose 1.7 percent to $2 billion.

The Framingham, Mass.-based company says international revenue rose 15 percent to $1.3 billion, helped by favorable foreign currency exchange.

[Associated Press]

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