Mail-Well Sales Drop in Q4

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Sales for print and production firm Mail-Well Inc. fell to $390 million in fourth-quarter 2001, but the company said yesterday that it achieved higher earnings, excluding restructuring charges, because of cost-cutting measures.

Sales for the last three months of 2001 were below the $412 million the company made in fourth-quarter 2000. However, Mail-Well reported earnings of 9 cents per share in the fourth quarter, up from 4 cents per share in the same period last year.

Including charges stemming from the ongoing consolidation of its businesses, Mail-Well reported a $45.7 million loss, or 96 cents per share, for the quarter. The company also is in the process of selling its label and printed office products operations.

Mail-Well said it was on target to produce earnings of $145 million, or 63 cents per share, in 2002.

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