NEENAH, Wis.--March 18, 2004-- Outlook Group Corp. today reported increased sales and earnings for the third quarter ended February 28, 2004.
Net sales for the third quarter of fiscal 2004 were $17,236,000, a 36.8% increase from sales of $12,596,000 for the third quarter of fiscal 2003. Net earnings were $207,000 or $0.06 per diluted share for the third quarter of fiscal 2004, compared to a net loss of $638,000 or $(0.19) per diluted share for the same period in the prior year.
For the first three quarters of fiscal 2004, net sales were $53,639,000, a 14.3% increase from sales of $46,914,000 for the same period in the prior year. Net earnings were $555,000 or $0.16 per diluted share for the first three quarters of fiscal 2004, up from earnings of $268,000 or $0.08 per diluted share for the same period in the last fiscal year. The results for the first three quarters of 2003 included the effect of a net change in accounting principle of $236,000 resulting from the recognition of a goodwill impairment charge. Before the effect of that change, earnings for the first three quarters of 2003 were $504,000 or $0.15 per diluted share.
"Our strategy to focus on long-term contracts enabled us to maintain production volumes and increase sales and earnings in the third quarter, which is traditionally a slow period for us. The added stability of our long-term contracts provides a distinct advantage to Outlook Group in a marketplace that remains very competitive," said Joseph J. Baksha, president and chief operating officer of Outlook Group.
"We are continuing to pursue additional long-term contracts with large companies that will benefit from our complete supply chain solution. Our strategy to offer a complete package of integrated services including printing, packaging, mailing list development and direct mail services continues to differentiate Outlook Group in the marketplace," said Baksha.
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