NEENAH, Wis.--Sept. 22, 2004-- Outlook Group Corp. today reported net sales of $17,207,000 for the first quarter ended August 28, 2004, an increase from sales of $17,061,000 for the first quarter of the prior year. Net earnings were $703,000 or $0.21 per diluted share for the first quarter of fiscal 2005, compared to a net loss of $207,000 or ($0.06) per diluted share for the same period in the prior year.
"We continued our steady improvement in the first quarter. Among other factors, the significant increase in earnings reflected the gains in production efficiency we are realizing as a result of the investments we made last year in new equipment and training for several major long-term projects. We also completed a number of profitable one-time projects in the first quarter," said Joseph J. Baksha, president and chief operating officer of Outlook Group.
"Although the industry environment continues to be very challenging, our strategy to differentiate Outlook Group by offering a complete portfolio of supply chain management solutions has proven to be very successful. We added several new long-term agreements in the first quarter, including a five-year agreement for the production of Cool Qube(TM) high-end tissue boxes developed by Trinova Design," said Baksha. "Including the new business, long-term agreements now account for approximately 75% of our total annualized sales."
Baksha said that while the company's focus is on supply chain management solutions, printing continues to be a foundation of the business. "Our high quality printing capabilities were recently recognized by the 'Benny' we received in the 2004 Premier Print Awards for our new corporate capabilities brochure. This is the graphic arts industry's largest and most prestigious worldwide print competition," he noted.
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