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Gross margin as a percentage of revenue decreased to 29.6 percent from 30.6 percent for the same quarter last year. Pricing pressure and declines in volume contributed to the change. Selling, general and administrative (SG&A) expenses declined 15.2 percent in the quarter reflecting the realization of the restructuring cost reduction efforts, which are on track with the $60 million of savings expected for the year. Capital expenditures were $4.4 million compared to $0.7 million in last year's quarter. The company continues to invest in software technology for its customer communications solutions, and systems to improve efficiency and inform management decisions.
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- People:
- Joseph P. Morgan
- Places:
- Dayton, Ohio
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