"During the quarter we saw revenue growth across our envelope, labels and packaging businesses. In our envelope operations we have continued to see strong growth in direct mail volumes as credit card mailing volumes have increased over 15 percent year to date. The envelope pricing pressures due to recent industry dynamics, which continued in the third quarter, have recently begun to reverse due to market normalization and as industry capacity continues to be rationalized," said Robert G. Burton, Sr., chairman and chief executive officer. "As we discussed on our last conference call, we are currently reviewing all strategic options for our operations as we look to reposition the company for the future. During the third quarter we completed the divestiture of our custom envelope division for approximately $50 million in value and we are currently evaluating several options regarding other parts of our businesses. As we look toward 2014, I am very pleased with the direction the company is heading. I am optimistic the strategy we have put in place will create value and deliver improved results our shareholders expect. I look forward to updating our investors in more detail on our conference call tomorrow."
- People:
- Robert G. Burton
- Places:
- Stamford, Conn.