Phoenix Broadens Sales Base
by Jim Milliot -- Publishers Weekly, 5/5/2003
Phoenix Color Corp. reported that total revenue for 2002 rose 4.3%, to $138 million, and that its operating loss was reduced to $1.6 million from $15 million in 2001. While the production of book components still accounted for the majority of Phoenix's sales at 63.2%, sales from the production of illustrated books and from the manufacturing of completed books rose in the year and represented 17.6% and 19.2%, respectively, of total revenues.
The company has more than 400 customers, and its largest accounts are HarperCollins and Pearson Publishing, which each represent about 13% of Phoenix's total sales. The company said in its year-end filing with the Securities and Exchange Commission that it intends to expand its 35-person sales force in a bid to add new clients, including regional publishers. The company has also formed a new marketing department to help its sales team promote Phoenix's services.
