Last10K.com

Office Depot Inc (ODP) SEC Filing 10-K Annual report for the fiscal year ending Saturday, December 29, 2018

Office Depot Inc

HISTORY TOOLS
CIK: 800240 Ticker: ODP

 

Exhibit 99.1

CONTACTS:

 

Tim Perrott

                  Danny Jovic

Investor Relations

                  Media Relations

561-438-4629

                  561-438-1594

Tim.Perrott@officedepot.com

                  Danny.Jovic@officedepot.com

Office Depot Announces Fourth Quarter and Full Year 2018 Results

Delivered strong revenue growth and free cash flow; expanded distribution network; grew services revenue; improved balance sheet and returned capital to shareholders in 2018.

Poised for profitable growth in 2019

Full Year 2018 Highlights

Reported Sales of $11.0 Billion, up 8%

Operating Income of $254 Million and Net Income from Continuing Operations of $99 Million

Adjusted Operating Income of $360 Million and Adjusted EBITDA of $567 Million

Generated $616 Million in Operating Cash Flow

Invested in Distribution Network, eCommerce Platform and Demand Generation

Fourth Quarter 2018 Highlights

Reported Sales of $2.7 Billion, up 3%

Services Revenue 16% of Total Revenue

Operating Income of $24 Million, Due to Lower Divisional Performance and FTC-related Accrual

Adjusted Operating Income of $84 Million

CompuCom Named Leader in Gartner Magic Quadrant

Boca Raton, Fla., February 27, 2019 —

Office Depot, Inc. (“Office Depot,” or the “Company”) (NASDAQ: ODP), a leading integrated business-to-business (“B2B”) distribution platform of business services and supplies, products and technology solutions, today announced results for the fourth quarter and full year ended December 29, 2018.

Consolidated (in millions, except per share amounts)

4Q18

4Q17

FY18

FY17

Selected GAAP measures:

 

 

 

 

   Sales

$2,670

$2,581

$11,015

$10,240

   Sales change from prior year period

3%

 

8%

 

   Operating income

$24

$56

$254

$327

   Operating income margin

0.9%

2.2%

2.3%

3.2%

   Net income (loss) from continuing operations

$(14)

$(48)

$99

$146

Diluted earnings (loss) per share from continuing operations

$(0.02)

$(0.09)

$0.18

$0.27

   Operating Cash Flow (1)

$61

$59

$616

$467

Selected Non-GAAP measures: (2)

 

 

 

 

   Adjusted EBITDA (3)

$138

$138

$567

$603

   Adjusted operating income

$84

$92

$360

$432

   Adjusted operating income margin

3.1%

3.6%

3.3%

4.2%

Adjusted net earnings per share from continuing operations (most dilutive)

$0.09

$0.08

$0.35

$0.45

   Free Cash Flow (1) (4)

$(5)

$10

$429

$326

 

The following information was filed by Office Depot Inc (ODP) on Wednesday, February 27, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

View differences made from one year to another to evaluate Office Depot Inc's financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-K Annual Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Office Depot Inc.

Continue

Assess how Office Depot Inc's management team is paid from their Annual Proxy

Definitive Proxy Statement (Form DEF 14A)
Screenshot example of actual Proxy Statement

Office Depot Inc's Definitive Proxy Statement (Form DEF 14A) filed after their 2019 10-K Annual Report includes:

  • Voting Procedures
  • Board Members
  • Executive Team
  • Salaries, Bonuses, Perks
  • Peers / Competitors

Continue

SEC Filing Tools

Rating

Learn More
Bullish Bearish Neutral
Filter Sentiment:
All
Positive
Negative
Filter Category:
All
Financial
Revenue
M & A
Legal
Other
Filter Subcategory:
All
Earnings
Shares
Cash Flow
Product
Expense
Income
Debt
Dividend
Geography
Other
Inside Office Depot Inc's 10-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income (Loss)
Consolidated Statements Of Comprehensive Income (Loss) (Parenthetical)
Consolidated Statements Of Operations
Consolidated Statements Of Stockholders' Equity
Consolidated Statements Of Stockholders' Equity (Parenthetical)
Accumulated Other Comprehensive Loss Activity, Net Of Tax (Detail)
Acquisitions
Acquisitions (Tables)
Acquisitions - Additional Information (Detail)
Allocation Of Pension Plan Assets By Category (Detail)
Allocation Of Plan Assets (Detail)
Amounts Recognized In Consolidated Balance Sheets Related To Defined Benefit Pension And Other Postretirement Benefit Plans (Detail)
Anticipated Benefit Payments (Detail)
Assets Held For Sale Activity (Detail)
Assumed Healthcare Cost Trend Rates (Detail)
Assumptions Used In Calculating Funded Status (Detail)
Calculation Of Net Earnings (Loss) Per Common Share (Detail)
Changes In Pension And Other Postretirement Benefit Obligations, Plan Assets And Funded Status (Detail)
Commitments And Contingencies
Commitments And Contingencies - Additional Information (Detail)
Components Of Net Periodic Pension (Benefit) Cost (Detail)
Components Of Net Periodic Pension Cost (Benefit) (Detail)
Debt
Debt (Tables)
Debt - Additional Information (Detail)
Definite Lived Intangible Assets Included In Other Intangible Assets Net (Detail)
Derivative Instruments And Fair Value Measurements
Derivative Instruments And Fair Value Measurements (Tables)
Derivative Instruments And Fair Value Measurements - Additional Information (Detail)
Discontinued Operations
Discontinued Operations (Tables)
Discontinued Operations - Additional Information (Detail)
Earnings Per Share
Earnings Per Share (Tables)
Earnings Per Share - Additional Information (Detail)
Employee Benefit Plans
Employee Benefit Plans (Tables)
Employee Benefit Plans - Additional Information (Detail)
Estimated Future Amortization Expense For Intangible Assets (Detail)
Estimated Future Amortization Expense Related To Capitalized Software (Detail)
Estimated Future Benefit Payments (Detail)
Fair Value Of Pension Plan Assets (Detail)
Fair Value Of Plan Assets (Detail)
Future Minimum Lease Payments Due Under Non-Cancelable Portions Of Leases (Detail)
Goodwill And Other Intangible Assets
Goodwill And Other Intangible Assets (Tables)
Goodwill And Other Intangible Assets - Additional Information (Detail)
Impacts Of Adoption Of New Standard On Company's Statement Of Operations And Balance Sheet (Detail)
Income Taxes
Income Taxes (Tables)
Income Taxes - Additional Information (Detail)
Leases
Leases (Tables)
Leases - Additional Information (Detail)
Major Component Of Discontinued Operations, Net Of Tax (Detail)
Merger And Restructuring Activity
Merger And Restructuring Activity (Tables)
Merger And Restructuring Activity - Additional Information (Detail)
Other Changes In Plan Assets And Benefit Obligations Recognized In Other Comprehensive Loss (Income) (Detail)
Property And Equipment
Property And Equipment (Tables)
Property And Equipment - Additional Information (Detail)
Quarterly Financial Data (Unaudited)
Quarterly Financial Data (Unaudited) (Tables)
Reconciliation Of Income Taxes At Federal Statutory Rate To Provision For Income Taxes (Detail)
Reconciliation Of Measure Of Division Operating Income To Consolidated Income Before Income Taxes (Detail)
Reconciliation Of The Change In Fair Value Of The Pension Plan Assets Calculated Based On Level 3 Inputs (Detail)
Revenue Recognition
Revenue Recognition (Tables)
Revenue Recognition - Additional Information (Detail)
Schedule Income Tax Expense Related To Income From Continuing Operations (Detail)
Schedule Of Assets Held Under Capital Leases (Detail)
Schedule Of Components Of Deferred Income Tax Assets And Liabilities (Detail)
Schedule Of Components Of Income From Continuing Operations Before Income Taxes (Detail)
Schedule Of Debt (Detail)
Schedule Of Debt (Parenthetical) (Detail)
Schedule Of Fair Value Of Assets And Liabilities (Detail)
Schedule Of Fair Value Of Assets And Liabilities (Parenthetical) (Detail)
Schedule Of Goodwill By Segment (Detail)
Schedule Of Maturities Of Recourse Debt, Capital Lease And Other Financing Obligations (Detail)
Schedule Of Property And Equipment (Detail)
Schedule Of Quarterly Financial Data (Detail)
Schedule Of Quarterly Financial Data (Parenthetical) (Detail)
Schedule Of Reconciliation Of Changes In Projected Benefit Obligation, Fair Value Of Plan Assets And Funded Status Of Plan (Detail)
Segment Information
Segment Information (Detail)
Segment Information (Parenthetical) (Detail)
Segment Information (Tables)
Segment Information - Additional Information (Detail)
Severance And Facility Closure Costs (Detail)
Stock-Based Compensation
Stock-Based Compensation (Tables)
Stock-Based Compensation - Additional Information (Detail)
Stockholders' Equity
Stockholders' Equity (Tables)
Stockholders' Equity - Additional Information (Detail)
Summary Of Activity Related To Unrecognized Tax Benefit (Detail)
Summary Of Disaggregated Revenue By Division, Major Product And Service Categories (Detail)
Summary Of Information About Stock Options Outstanding And Exercisable (Detail)
Summary Of Major Components Of Merger And Restructuring Expenses (Income), Net (Detail)
Summary Of Preliminary And Final Allocation Of Purchase Consideration To Assets Acquired And Liabilities Assumed (Detail)
Summary Of Preliminary And Final Allocation Of Purchase Consideration To Assets Acquired And Liabilities Assumed (Parenthetical) (Detail)
Summary Of Receivables, Contract Assets And Contract Liabilities From Contracts With Customers (Detail)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Policies)
Summary Of Significant Accounting Policies (Tables)
Summary Of Significant Accounting Policies - Additional Information (Detail)
Summary Of Status Of Nonvested Shares (Detail)
Summary Of Stock Option Activity Awards (Detail)
Summary Of The Activity In The Performance-Based Long-Term Incentive Program Since Inception (Detail)
Summary Of Valuation Allowances (Detail)
Timber Notes/Non-Recourse Debt
Timber Notes/Non-Recourse Debt - Additional Information (Detail)
Weighted Average Assumptions Used In The Measurement Of Benefit Obligations (Detail)
Weighted Average Assumptions Used In The Measurement Of Net Periodic Benefit Cost (Detail)
Ticker: ODP
CIK: 800240
Form Type: 10-K Annual Report
Accession Number: 0001564590-19-004964
Submitted to the SEC: Wed Feb 27 2019 11:50:39 AM EST
Accepted by the SEC: Wed Feb 27 2019
Period: Saturday, December 29, 2018
Industry: Retail Miscellaneous Shopping Goods Stores

External Resources:
Stock Quote
Social Media
SEC.gov

Bookmark the Permalink:
https://last10k.com/sec-filings/odp/0001564590-19-004964.htm