New England Business Service, Inc. Discusses Outlook for Year and Preliminary Q2 Results
Press release from the issuing company
GROTON, Mass.-Jan. 9, 2001--New England Business Service, Inc. (NYSE:NEB) today discussed its outlook for the year ending June 30, 2001 and announced preliminary results for the second quarter ended December 23, 2000.
Mr. Robert J. Murray, Chairman and CEO, stated, "While we continue to anticipate record performance for the year, we now expect revenues to grow approximately 17% to 19% reaching $570 to $580 million, and earnings per share to grow approximately 6% to 9% to the $2.20 to $2.25 range, excluding one-time charges, and in the $1.88 to $1.93 range as reported. These growth rates for revenues and earnings are approximately 2 to 3 percentage points lower than our previous guidance, and reflect a more cautious posture for the remainder of the year in light of general economic weakness. We are continuing to make significant investments in opportunities for growth, and are vigilantly managing costs across the business."
Murray added, "For the second quarter ended December 23, 2000, preliminary results indicate that sales grew approximately 13% to $155 million and earnings per share advanced approximately 10% to $.68 or $.69 without one-time items, or $.65 to $.66 as reported. While this performance was at the lower end of our expectations, we believe it continues to confirm that our strategies are producing results."
A Company conference call to review results for the second quarter, and to further discuss the outlook for the remainder of the current fiscal year will be broadcast live on the investor relations section of the Company's Web site www.nebs.com at 11:00 AM EST on Thursday, January 18, 2001. A replay will be available at the same location.
New England Business Service, Inc. is a leading business-to-business direct marketing company with 2.6 million active small business customers in the United States, Canada, the United Kingdom and France. The Company supplies a wide variety of business products and services which are marketed through direct mail, telesales, a direct sales force, dealers and the Internet. More information about New England Business Service, Inc. is available at the Company's Web site www.nebs.com.
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