Feb. 21--Standard Register returned to net income in the fourth quarter of 2013, and greatly cut its losses for the full year, the document- and business-services company reported Friday.
The Dayton-based company reported net income of $9,072,000, or $1.14 per diluted share, for the final quarter of 2013, a marked improvement over the net loss of $35 million, or a loss of $6.03 per diluted share, it reported for the same quarter in 2012.
For the full year 2013, Standard Register reported a net loss of $7.4 million, or $1.16 per diluted share. That's down from the full-year net loss of nearly $28.5 million, or $4.88 per share, reported for all of 2012.
Revenue for the fourth quarter was up, too, $242 million in 2013's fourth quarter compared to $143.6 million in 2012's last quarter.
In a statement, Joseph Morgan Jr., Standard Register's chief executive and president, credited the company's acquisition last year of local competitor Workflow One, among other factors, with strengthening the company.
"During 2013 we made good progress toward long-term growth of the business," Morgan said. "We broadened our customer base, portfolio of solutions and opportunity for cross-selling with the largest acquisition the company has made in recent history, and we are integrating at a rapid pace.
Fourth quarter results include revenue from the mid-year acquisition of Workflow One.
Standard Register has about 800 Dayton employees and more than 3,000 nationally. The company's stock closed at $7.60 Thursday, down from $7.76 the previous day.
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