Banta Plans Restructuring
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Banta management believes that despite the prospect of sluggish economic conditions continuing through the first half of 2003, Banta's earnings for the first six months of 2003—before the restructuring charges—should equal or modestly exceed the same period in 2002.
Overall, Streeter says Banta recorded strong operating performance during 2002, despite a very difficult economic environment. "Reduced advertising and promotional spending negatively impacted many of our businesses, especially direct marketing and publications." Sales for 2002 were $1.37 billion versus $1.46 billion in 2001.
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- People:
- Stephanie Streeter
- Places:
- Maple Grove
- St. Paul, MN
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