United Stationers Posts Solid Earnings (USTR)

United Stationers Inc. USTR reports Q2 earnings of $1.03 versus estimates of $1.02. United Stationers Inc. reports Q2 revenues of $1.22 billion versus estimates of $1.21 billion. Revenues increased 5.3% year over year. The company also said that gross margin in Q2 was 14.7% of sales, up 60 basis points, compared with 14.1% in the prior-year quarter. Share repurchases during the quarter totaled 1.1 million shares for $63.0 million. "Successful execution of our growth strategies, together with modestly improving economic conditions, drove our positive second quarter sales performance," said Richard W. Gochnauer, president and chief executive officer. "Disciplined cost management, coupled with higher supplier allowances, delivered stronger operating margins. We continued to make investments in key initiatives to position us for future growth, and enhanced shareholder value through share repurchases in the quarter." Shares of USTR were flat in the after-hours trade.