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Mixed Results From Pages
-- 12/1/97
Pages Inc. reported revenues of $3.1 million for its third quarter ended Sept. 30, 1997, down from $3.4 million in the comparable period in 1996. In the period, the company cut its net loss to $1.8 million, from slightly more than $2 million in last year's third quarter. For the nine-month period, sales fell 12.8%, to $17.2 million, while Pages reported a net loss of $2.8 million, compared to net income of $465,460 in the 1996 third quarter. Last year's results reflected the sale of its U.K. operations, as well as the closing of its Canadian unit.
Bob Davies, Pages' chairman, said that excluding the gain and income from discontinued operations, results improved by 11% in the January-through-September period. Davies said he was pleased with the results from two new fair programs, Pages Plus and Good Books, that the company began testing this fall. According to Davies, the new programs contributed to an 11% increase in average revenues per fair. The company is planning a nationwide rollout of the fairs in spring 1998. To help fund the rollout, Pages has received $3 million in new financing.
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