Standard Register Launches New Corporate Strategy, Posts Financial Results
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The company reported revenue of $164.9 million and net income of $0.5 million for the first quarter, which ended April 3, 2011. Those results compare to revenue of $167.4 million and a net loss of $0.8 million for the same quarter of last year. Revenue was down slightly relative to the prior year. Increases in core growth solutions were offset by expected declines in legacy products in every segment but industrial. Legacy products represent the majority of the Standard Register’s portfolio and provide a foundation of stability, however the company expects that future revenue growth will be driven by increases in core solution sales throughout all focus markets.
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