Great numbers
HA-LO Industries Reports Record First Quarter; Quarterly Net Income Up 58%; Sales Climb 26%
NILES, Ill., April 29 /PRNewswire/ -- HA-LO Industries, Inc. (NYSE: HMK - news), the nation's leading provider of promotional and premium advertising products, today reported record sales and earnings for the first quarter ended March 31, 1999.
Summary of Financial Highlights
(unaudited, amounts in thousands, except per share amount)
March 31, 1999 March 31, 1998 Chg.
Net sales $ 156,967 $ 124,815 26%
Net income $ 4,199 $ 2,654 58%
EPS diluted $ 0.09 $ 0.06 50%
EPS diluted/recurring $ 0.09 $ 0.08 13%
Diluted Shares
Outstanding 49,171 42,210 16%
Key Recent Developments
* Ranked among the Top 50 Advertising and Marketing Organizations in the
world according to Advertising Age (#20) for the first time in HA-LO's
history.
* Completed the acquisitions of Parsons International, Grotte Advertising
Co. and Idea Man, Inc.
* 3-for-2 stock split effective February 19, 1999.
First Quarter 1999
First quarter net income rose 58 percent to $4,199,000 or nine cents per diluted share from $2,654,000 or six cents per diluted share for the same period last year. Sales for the first quarter of 1999 rose 26 percent to $156,967,000 from $124,815,000 for the same period of the previous year. First quarter results from 1998 include pretax non-recurring charges of $1,500,000 (two cents per diluted share).
CEO Lou Weisbach Comments on Results
Lou Weisbach, president and chief executive officer, noted ''HA-LO's first quarter results continue our record growth and performance. We continue to execute our strategy of growth within our core promotional products group. In addition, our recent acquisitions of leading companies in the marketing services arena continue to fulfill our vision of developing a complete Brand Marketing Organization - A Brand Marketing Organization that provides clients a competitive edge by reaching consumers at the most direct points of brand contact, including the internet. This exciting story was introduced in our annual report and has received overwhelming responses from existing and prospective clients.'' |
