NEW YORK (TheStreet) -- Office Depot (ODP) - Get ODP CORPORATION Report stock is down by 4.21% to $5 in pre-market trading on Tuesday after the company reported lower-than-expected 2015 fourth quarter results.
Before the market open on Tuesday, the office supply retailer reported earnings of 7 cents per share, while analysts were expecting earnings of 11 cents per share.
Revenue of $3.47 billion was slightly lower than Wall Street's projections for revenue of $3.56 billion. Sales declined by 9% year-over-year during the quarter due to the impact of store closures, Office Depot said in a statement.
Additionally, the company experienced "substantial business disruption" related to Staples' (SPLS) pending acquisition of the company, CEO Roland Smith said in a statement.
"We look forward to presenting our case in U.S. federal district court and expect resolution by May 10, 2016," Smith said. "We continue to believe that this transaction provides substantial benefits to our customers and shareholders."
Separately, Office Depot has a "hold" rating and a letter grade of C- at TheStreet Ratings because of the company's strengths, such as largely solid financial position with reasonable debt levels by most measures and notable return on equity, and its weaknesses, including unimpressive growth in net income, weak operating cash flow and generally disappointing stock performance.
You can view the full analysis from the report here: ODP
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