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Office Depot has big sales decline

From Miami Herald Wire Services

Office supplies retailer Office Depot said Thursday that its third-quarter loss widened, thanks in part to a sales decline of 17 percent.

The Boca Raton-based company said that it lost $413 million, or $1.51 per share, in the quarter ended Sept. 26. That's compared with a loss of $7 million, or 2 cents per share, in the same period a year ago.

Total sales fell to $3.03 billion from $3.66 billion a year ago.

Analysts on average had expected a loss of 10 cents per share on revenue of $3.08 billion for the quarter.

MOTOROLA: The company, which has operations in Plantation, reported an unexpected quarterly profit as operating losses in its struggling mobile phone division narrowed. The company also forecast stronger-than-anticipated earnings for the current period.

The company, based in Schaumburg, Ill., earned $12 million, or a penny per share, in the three months that ended Oct. 2. That compares with a loss of $397 million, or 18 cents per share, in the same quarter a year ago.

Sales fell 27 percent to $5.4 billion from $7.48 billion a year ago.

AETNA: The managed care company earned $326.2 million, or 73 cents per share, in the third quarter. That represents an increase from $277.3 million, or 58 cents per share, in the same quarter last year, when Aetna said it incurred heavy capital losses in ``then-deteriorating global economic conditions.''

Revenue grew 9 percent to $8.7 billion.

AVON PRODUCTS: The company said having 10 percent more people selling its products during the third quarter helped sales, but the stronger dollar hurt its revenue from some markets, and its profit fell 30 percent.

The cosmetics, gift and home products company earned $156.2 million, or 36 cents per share, for the period ended Sept. 30. That's down from $222.6 million, or 52 cents per share, a year earlier.

The stronger dollar caused revenue to dip 4 percent to $2.55 billion from $2.64 billion, with foreign exchange softening sales by 11 percentage points. A strong dollar dampens foreign sales for U.S. companies because overseas sales convert back to fewer U.S. dollars.

COLGATE-PALMOLIVE: Third-quarter profit rose 18 percent as new products took market share and shoppers continued to pay higher prices for its products.

The maker of toothpaste, dish soap and Ajax cleanser said that it earned $590 million, or $1.12 per share, in the quarter that ended in September. A year ago, Colgate earned $500 million, or 94 cents per share.

Revenue rose to $4 billion from $3.99 billion, helped by a 5 percent rise in prices worldwide. Colgate has raised prices to keep up with higher ingredient costs.

EXPEDIA: Bookings are up at the online travel company, pushing its profit up despite prices for flights and hotels holding or softening.

The company said it earned $117 million, or 40 cents a share, in the three-month period that ended Sept. 30. That's up from $94.8 million, or 33 cents a share, a year earlier. Revenue rose 2 percent to $852.4 million, above analyst estimates of $828.9 million.

EXXON MOBIL: Net income slumped 68 percent to $4.73 billion, or 98 cents per share, when compared with the same July-September period in 2008, the most lucrative ever for the oil industry.

Last year, crude spiked to near $150 a barrel, helping Exxon break its own profit records.

PROCTER & GAMBLE: The world's largest consumer products company reported better-than-expected first-quarter results Thursday and forecast a better outlook after a year of households cutting spending and trading down to cheaper brands.

The maker of Tide and Pampers reported profit was off 1 percent at $3.35 billion, or 1.06 per share, compared to $3.31 billion, or $1.03 per share, a year ago. Sales fell 6 percent to 19.8 billion. Analysts expected earnings of 99 cents on $19.83 billion for Cincinnati-based P&G.

SPRINT NEXTEL: The nation's third-largest wireless carrier reported a wider third-quarter loss and a larger exodus of customers despite an improved slate of phones and cheaper rates.

The company said it lost $478 million, or 17 cents per share during the three-month period ending Sept. 30. By comparison, it lost $326 million, or 11 cents per share, during the same period a year ago.

Revenue during the quarter slipped 9 percent to $8.04 billion from $8.8 billion, below the $8.09 billion expected by analysts.

WASTE MANAGEMENT: The nation's largest trash hauler reported net income was $277 million, or 56 cents per share, down 11 percent from $310 million, or 63 cents per share, in the third quarter of 2008. The latest quarter's results included a benefit of 2 cents per share from certain income tax adjustments and charges related to restructuring.

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