Mail-Well Inc. announced a net loss of $2.3 million for the second quarter ended June 30. Sales for the second quarter were $408 million.
For the six months of 2003, net income was $400,000. Sales for the six-month period were $835 million.
For the same periods of 2002, net loss was $38.2 million for the second quarter, and $17 million for the six-month period. The 2002 losses included a charge for restructuring of $9.3 million, a loss of $8.7 million on debt restructuring and impairment losses related to discontinued operations and assets held for sale of $19.3 million.
The second quarter has always been weak, and the results were in line with expectations, said Paul Reilly, chairman of the Englewood, CO, printer. “The year over year increase in sales and profitability in the Print Segment has continued as expected and has more than offset the drop in volumes and prices experienced in both the Envelope and Printed Office Product segments,” Reilly said in a statement.
