New England Business Service Inc. reported net income of $4.6 million during third quarter 2002, up from $3.5 million last year. Its quarterly revenue was $132.9 million, $24,000 higher than it generated one year ago.
Among its five operating units, only apparel took a loss. The company attributed the drop to lower promotional spending throughout the industry. The unit lost $992,000, compared to generating $506,000 a year ago, and had sales of $12 million, down from $12.6 million. The quarter ended March 30.
Its largest unit, Direct Marketing – US, generated $13.7 million in operating profit during the quarter, up from $12.8 million a year ago. Total sales for the unit were $66.5 million, down from $67.8 million. Direct Sales – US had $27.1 million in sales, up from $24.9 million. This unit's income more than doubled, from $1.2 million to $2.6 million.
Packaging and Display products' income rose by $35,000, to $18.3 million, while its income jumped from $50,000 to $441,000. International sales slipped from $9.3 million to just over $9 million, but its income rose from $351,000 to $656,000.
New England Business Service is a business-to-business direct marketing firm based in Groton, MA. The company serves 2.6 million small business customers throughout the U.S., Canada, the U.K. and France.
