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Tuesday, September 14, 2004
Merrill Corporation Announces Increased Earnings in Second Quarter and Year-To-Date
Merrill Corporation announces a 55 percent increase in earnings for the fiscal second quarter ended July 31, 2004.
St. Paul, Minn. - Merrill Corporation (www.merrillcorp.com ), a global, diversified communications and document services provider, today announced a 55 percent increase in earnings for the fiscal second quarter ended July 31, 2004. Revenue for the quarter was $180 million, an increase of 17 percent, compared to the second quarter of fiscal 2004. Net income for the fiscal quarter ended July 31, 2004, was $4.1 million, an increase of $1.4 million from the $2.7 million for the same period in the prior fiscal year. Revenue for the first half of fiscal year 2005 was $369 million, an increase of 20 percent compared to the first half of fiscal 2004. Net income for the first six months ended July 31, 2004, was $15.4 million, an increase of $9.2 million from the $6.2 million for the same period in the prior fiscal year.
"We are very pleased with our strong second quarter revenue and earnings performance," said John Castro, CEO of Merrill Corporation. "More robust levels of financial market activity, in both our domestic and international markets, continued during the second quarter, resulting in strong revenue growth in our Financial Document Services business. We also saw good growth in the quarter-over-quarter revenues in our Strategic Communications Services business including financial services and brand management services. This overall revenue growth combined with our control of fixed costs, enabled us to realize significant profits from that growth. Additionally, we continue to grow our diversified business, most notably marketing and communication services to the real estate industry," said Castro. About Merrill Corporation
Merrill Corporation (www.merrillcorp.com ) is a diversified communications and document services company applying advanced information systems and intranet/Internet technology to provide a wide range of services to its financial, legal and corporate clients. Merrill's services integrate traditional composition, imaging and printing services with online document management, distribution and collaborative solutions. This integrated approach helps streamline the preparation and distribution of business-to-business communication materials. Merrill Corporation serves its domestic clients through 45 offices in 33 cities throughout the United States. Its international clients are served through the client service centers in London, Paris and Frankfurt, as well as a joint venture with Quebecor World in Canada and other affiliate relationships in Europe, Asia, Latin America and Australia.
# # # Forward-Looking Statements
Merrill Corporation cautions investors that certain statements contained in this press release that state management's intentions, hopes, beliefs, expectations or predictions of the future are forward-looking statements.
Management wishes to caution the reader these forward-looking statements are not historical facts and are only estimates or predictions. Actual results may differ materially from those projected as a result of risks and uncertainties including, but not limited to, the competitive environment in our business, demand for our product and service offerings, projections of future sales, changes in technology, our ability to retain employees and other risks. Forward-looking statements can be identified through the use of words such as "may," "will," "intend," "plan," "expect," "anticipate," "could," "should," "would," "believe," "estimate," "contemplate," "potential," "continue," "possible" and "proposed."
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