Boise Cascade Issues Earnings Warning

Business-to-business direct marketer Boise Cascade Office Products Corp., Itasca, IL, said last week that its third-quarter earnings may be "modestly below" the 21 cents it earned in the second quarter and below analyst estimates of 25 cents per share. The company blamed lower-than-expected performance of its worldwide direct marketing operations, as well as lower margins in its paper business and disruption of business and other costs associated with the relocation of a distribution center for its earnings downgrade. President/CEO Chris Milliken said that its U.S. DM business continues to perform well, but that the company will take action to improve on its expected performance. According to preliminary third-quarter estimates from earnings tracker First Call, 57 percent of 180 reporting companies are expecting a negative earnings surprise. That compares to 66 percent that reported lower-than-expected earnings in the second quarter.

This material may not be published, broadcast, rewritten or redistributed in any form without prior authorization. Your use of this website constitutes acceptance of Haymarket Media's Privacy Policy and Terms & Conditions