October 16, 1998
Mail-Well Reports Record Results
Envelope and printing industry consolidator Mail-Well Inc., Englewood, CO, last week reported record sales, income and earnings for the third quarter and first nine months of the year. Net sales for the quarter jumped 73 percent to $404.1 million, net income increased 69 percent to $12.7 million while earnings per share were up 25 percent to 25 cents. For the nine-month period, net sales were up 64 percent to a record $1.1 billion, net income up 67 percent to a $33.6 million and EPS up 24 percent to 67 cents. CEO Gerald Mahoney said envelope demand from the direct mail sector was lower than expected but commercial printing, business communications and label demand held steady.