For the three months ended April 5, 1999, Banta Corp., Menasha, WI, reported sales of $309,286,000 and net earnings of $9,712,000, lower than sales of $330,810,000 and net earnings of $11,032,000 for the same period in 1998. In a statement, Banta claimed the results are consistent with its April 12 announcement that earnings would be lower in the first half of the year. Earnings, the company continued, would be higher in the second half due to seasonal print demands and strategic restructuring.
Basic and diluted earnings per share with $.35, as compared to $.37 for the same quarter last year. Basic average shares outstanding dropped to 27,917,367 this year, from 29,732,330 in 1998, while diluted average share outstanding fell from 29,868,988 to 27,940.429.
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