Standard Register dips 12% after Q2 results miss Street view, revenues decline
The Standard Register Company (NYSE:SR) has shed more than 12% today after announcing its second-quarter results fell below analysts’ expectations. For the quarter ended June 29, net income was $1.4 million, or $0.05 per share, compared with a net loss of $4.6 million, or $0.16 a share, for the same quarter a year ago. Wall Street was expecting earnings per share of $0.08. Revenues were $198.8 million, versus $211.2 million for the period a year earlier.
“Our revenue definitely reflects the effects of softening business activity among many of our customers during the first two quarters of this year,” said president and CEO Dennis Rediker.
Shares of the Dayton, Ohio-based custom printing company are off $1.19 at $9.07. Trading volume is more than double the average number of shares. The stock has ranged from $7.08 to $14.70 during the past year.
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