Business Services Industry
Windsor, Conn., Direct-Mail Company Revenues Rise 6 Percent.
Knight Ridder/Tribune Business News, April, 2004
The Hartford Courant, Conn. Knight Ridder/Tribune Business News
Apr. 16--ADVO Inc., the Windsor-based direct-mail company, had a 6 percent boost in revenue and a record 38 cents a share in earnings for the first quarter, despite the loss of millions in ad dollars from the grocery strike in California.
ADVO, the postal service's largest private customer, reported revenues of $304.3 million for the quarter ending March 27. Net income rose 5.5 percent to $11.5 million.
Total advertising volume was up 8 percent, and with the resolution of the grocery strike in March, company officials said they are maintaining their previous guidance that the company would earn between $1.72 and $1.80 a share for the full year.
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