Standard Register Reports 2014 Third Quarter Results
Standard Register, Dayton, Ohio, reported its third quarter financial results which resulted in $219.4 million in revenue with a net loss of $5.6 million. However, this quarter is a 10 percent improvement over the same time period last year during which the company brought in $199.4 million with a net loss of $23.2 million.
These results include two moths of operations from WorkflowOne, an August 2013 acquisition.
"We are continuing to see the results from our efforts to increase sales of our entire portfolio of products and solutions, improve margins through consolidation of operations and contain all other costs. The net effect for the quarter was continued improvement in gross margin and adjusted EBITDA," said Joseph P. Morgan Jr., president and CEO. “The focused, purposeful investments we have made in growth areas are also producing results, including penetration of our customer base for promotional products, sales of multi-year software subscription solutions in healthcare technology, and double-digit growth in our label production and promotional products storage and distribution operations in Mexico."
The company's two business units—business solutions and health care—bringing in $153.7 million (a 12.6 percent increase over 2013) and $65.7 million (a 4.5 percent increase over 2013) in the third quarter, respectively.
"Our expertise in integrating electronic and written communications is adding value across our customer base," Morgan said. "Recent business wins are coming on line and contributing to revenue. Today, we are in a stronger position, with improved sales performance, a robust pipeline, and a degree of stabilization in the declining demand for traditional printed forms."
For more information, visit www.standardregister.com.