Home Depot Reports Strong Fiscal 1st Qtr.

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Atlanta - The Home Depot posted higher net earnings and sales in its fiscal first quarter.

Net earnings were $725 million in the quarter, ended May 2, compared with the prior year's $514 million in the first quarter.

Sales for the first quarter totaled $16.9 billion, a 4.3 percent increase from the first quarter of fiscal 2009.

Comp-store sales for the first quarter were positive 4.8 percent, and comp sales for U.S. stores were positive 3.3 percent. On an adjusted basis, which excludes the impact of sales related to the closing of the Expo businesses in the first quarter of fiscal 2009, sales increased 5.7 percent.

First quarter of fiscal 2010 results reflect a net impact to earnings of $33 million related to the extension of Home Depot's guarantee of a third-party senior secured loan.


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