Revenue grew 3.4% to $260.1 million and adjusted operating income improved to $17.0 million, a 59% increase vs. $10.6 million for the same quarter last year. Adjusted net income was $9.0 million, compared to $4.6 million for the prior year. Operating income was $15.4 million in the quarter, vs. operating income of $6.6 million in the prior year quarter, an improvement of 134%.
Joe R. Davis
Revenue for the quarter was $236.7 million, a 4.8% increase compared to the prior year quarter. Adjusted Net Income was $4.9 million, compared to $.6 million for the prior year.
George B. Glisan and Jeffrey A. Hale will reprise their roles as CEO and CFO, respectively, with the new Hickory Printing Solutions.
Revenue for the March quarter was $237.0 million, a 4.1% decline compared to the prior year quarter. Operating income of $1.5 million in the March 2010 quarter compared to an operating loss of $16.2 million in the prior year quarter.
CGX's revenue for the quarter was $276.4 million, down 12.5%, and its operating income totaled $18.6 million vs. a net oeprating loss of $55.5 million in the December 2008 quarter.
Modern ranked #308 on the most recent Printing Impressions 400 listing with $15.87 million in sales. Owner David Margiotta and certain other employees have joined AGS Custom Graphics.