3Q Revenue Hits Record $269 Million for Advo

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Cooperative advertising mail company Advo Inc., this week reported its revenue for the third quarter ended June 27 was a record $269 million, up 4.2 percent from the same quarter last year.

Advo, Windsor, CT, reported operating income for the third quarter was $23.2 million, up 21.3 percent from $19.1 million in third-quarter 1997. The company reported diluted earning per share was 52 cents compared to 38 cents, an increase of 37 percent over the same quarter last year.

According to Advo, the revenue increase was driven by a 1.6 percent revenue-per-piece increase and a 1 percent pieces-per-package increase, which were offset somewhat by a reduction in mail packages distributed. Advo's co-op mail program, Mailbox Values, reaches 60 million households weekly.
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