SOURCE:
AP
2008-08-19 05:43:51
NEW YORK – The Home Depot Inc., the nation’s largest home improvement retailer, is reporting a 24 percent drop in second-quarter profits but beat expectations. The company is reiterating its downbeat outlook for the year as it struggles with a weak home market.
The Atlanta-based company says Tuesday that net income was $1.2 billion, or 71 cents per share, in the three month period ended Aug. 3. That compares with $1.58 billion, or 81 cents per share, in the year-ago period.
Sales for the second quarter totaled $21 billion, a 5.4 percent decrease from $22.1 billion in the year-ago period. Thomson Reuters says it was projecting earnings per share of 61 cents on revenue of $20.58 billion.
Major Newsire & Press Release Distribution with Basic Starting at only $19 and Complete OTCBB / Financial Distribution only $89
Get Unlimited Organic Website Traffic to your Website
TheNFG.com now offers Organic Lead Generation & Traffic Solutions
