Office Depot 2007 Annual Report Download - page 75

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73
First Quarter Second Quarter Third Quarter Fourth Quarter(1)
Fiscal Year Ended December 30, 2006
Net sales........................................................... $ 3,815,700 $ 3,494,907 $ 3,857,144 $ 3,843,030
Gross profit ...................................................... 1,201,906 1,078,242 1,180,095 1,187,101
Net earnings..................................................... 129,530 118,306 129,051 126,584
Net earnings per share*:
Basic ............................................................ $ 0.44 $ 0.42 $ 0.46 $ 0.46
Diluted ......................................................... 0.43 0.41 0.45 0.45
____________
* Due to rounding, the sum of the quarterly earnings per share amounts may not equal the reported earnings per
share for the year.
(1) Net earnings for the quarter includes the following pretax items: $31.0 million related to Charges, $16.5 million
for a legal settlement, $21.4 million in a gain on the sale of our corporate campus and $5.7 million of loss on
extinguishment of debt.
NOTE P — SUBSEQUENT EVENTS
In February 2008, the board of directors authorized the Company to retire shares of common stock held in treasury.
The treasury stock will be returned to the status of authorized and unissued. The balances of treasury stock at cost
will be applied to other equity accounts, resulting in no net change to total stockholders’ equity from this retirement.
Also in February 2008, minority shareholders in our venture in Israel have exercised their existing option to have
Office Depot purchase their shares. The closing is anticipated in April and will result in Office Depot owning 100%
of the shares outstanding for this entity.