Mail-Well Inc.’s third-quarter revenue slipped from $429 million in third-quarter 2002 to $412 million during the quarter just ended, but it generated net income of $2.2 million, compared to a net loss of $22 million a year ago. The quarter ended Sept. 30.
Among its three divisions, commercial printing was flat, generating around $195 million in both quarters. Revenue from envelopes fell from $183 million to $168 million, while printed office materials, which garnered $51 million a year ago, pulled in $50 million.
But the story was very different for each division’s operating income. Commercial printing, which had taken a $5.6 million loss a year ago, earned $6.5 million. Envelopes showed $16 million in income, compared with $10.4 million. Printed office products, which fell victim to competitive pricing issues, saw its income slip from $4.9 million to $4 million.
During third-quarter 2002, the company also took restructuring charges of $39.4 million and a loss of $5.8 million for disposal of discontinued operations. Neither of these charges were repeated in the quarter just ended.
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