This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

MOD-PAC CORP. Reports Revenue Of $14.4 Million In The 2013 First Quarter

  • First quarter product sales increased 4.8% to 14.3 million; Custom folding carton sales up 7.6% to $11.2 million
  • Gross margin expanded 540 basis points to 18.3% in the first quarter on improved leverage and continued cost control
  • Achieved quarterly net income of $0.3 million, a measurable improvement from a net loss of $0.1 million in prior-year period
  • Generated $0.8 million in cash from operating activities during the first quarter of 2013

BUFFALO, N.Y., May 1, 2013 (GLOBE NEWSWIRE) -- MOD-PAC CORP. (Nasdaq:MPAC) (the "Company"), a high value-added, on-demand print services firm that designs and manufactures custom and stock folding cartons, today announced financial results for its first quarter of 2013 ended March 30, 2013.

Revenue increased $0.6 million, or 4.5%, to $14.4 million in the first quarter from $13.8 million in the prior-year period on solid custom folding carton sales. The Company realized net income of $0.3 million, or $0.09 per diluted share, for the first quarter of 2013, an improvement from a net loss of $0.1 million, or $0.04 per diluted share, in the 2012 first quarter, reflecting leverage on higher sales and continued cost control. 

Daniel G. Keane, President and CEO, commented, "We realized measurable growth in our core business, custom folding cartons, by capturing additional market share from existing customers. We also achieved margin expansion and an improved bottom-line as a result of our efforts to improve the leverage within the business."

Product Line Sales Review: Custom Folding Carton Growth Offsets Lower Stock Packaging and Personalized Print Sales
  • Sales of custom folding cartons increased $0.8 million, or 7.6%, to $11.2 million from $10.4 million in the first quarter of 2012. The increase was primarily due to market share gains by capturing new product lines from several existing customers.  
  • Stock packaging sales were $2.6 million during the three months of 2013, a slight decrease from $2.7 million in the first quarter of 2012.  
  • First quarter personalized print sales were $0.6 million consistent with the prior-year period. 

David B. Lupp, Chief Operating Officer and Chief Financial Officer, stated, "Our focus and sales efforts have been directed towards our custom folding cartons business, specifically for the private label segment, and we believe our improved results are a direct reflection of the successful execution of this strategy. The growth in this business line combined with cost containment and increased efficiency has allowed us to achieve greater operational leverage."

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.54 -1.40%
FB $117.13 0.34%
GOOG $694.22 0.46%
TSLA $246.47 -0.50%
YHOO $36.39 -0.55%


Chart of I:DJI
DOW 17,709.85 -120.91 -0.68%
S&P 500 2,064.99 -10.82 -0.52%
NASDAQ 4,777.2430 -28.0480 -0.58%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs