Von Hoffmann Corp. Announces Improved First Quarter Results
St. Louis, MO--Von Hoffmann Corp., a leading North American education and commercial printer, today announced results for the quarter ended March 31, 2003.
Net sales for the first quarter of 2003 were $93.8 million, representing 13.4% increase over prior year's quarter of $82.7 million. Net loss for the first quarter of 2003 was $0.4 million compared to a loss of $5.8 million in the first quarter of 2002. Prior year results include a loss on debt extinguishment of $3.1 million (After - tax impact of $2.0 million) as a result of the write-off of debt issuance costs during our debt refinancing completed in March 2002. Earnings before income taxes, depreciation and amortization (EBITDA) were $15.1 million for the first quarter of 2003 compared to $8.3 million, or $12.4 million excluding the loss on debt extinguishment and non-recurring special consulting expenses incurred in the first quarter of 2002. The EBITDA performance represents a 21.8% improvement over adjusted 2002 results.
- Places:
- St. Louis, Missouri