Direct mail marketer Advo Inc., Windsor, CT, lowered its revenue and profit expectations through the remainder of the 2002 fiscal year The company said the lower projections were due to softness in mail volumes and slower than anticipated growth in the third quarter.
The company expects third quarter revenue of $278 million to $280 million, down slightly from $281.8 million last year. Net income is projected to be $12 million to $13 million, excluding special charges, versus $13.5 million last year.
Revenue for the fourth quarter is expected to be $290 million to $295 million, up slightly from $286.1 million last year, and revenue is expected to be $13 million to $14 million. Yearend revenue is expcted to be the same or slightly lower than last year's 1.1 billion.