Standard Register Launches New Corporate Strategy, Posts Financial Results
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Gross margin as a percent of revenue improved to 32.5 percent for the quarter vs. 32.0 percent in the prior year. LIFO inventory adjustment was negligible for the current quarter versus a favorable LIFO adjustment of $1.7 million for the prior year. Selling, general and administrative expenses, excluding pension loss amortization were down $3.3 million from the prior year. Continuous improvement initiatives allowed the Company to enhance its cost structure which, allowed all three business units to show increases in their operating profit over the prior year.
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