(Moore Corporation)

Print Action, Jun 2003

MOORE CORPORATION and Wallace Computer Services were expected to close their merger agreement. Wallace stockholders were given a May 15 deadline to decide whether to receive cash or Moore common shares in exchange for their Wallace common shares. Moore also reported 2003 first quarter net earnings of $29.2 million versus a 2002 first quarter net earnings of $12.5 million.

Net sales for the 2003 first quarter were $511.1 million, down from $529.5 million in the first quarter of 2002. The company blamed the decline on the U.S. and Canadian forms and labels business and domestic direct-mail operations.