by Christopher Freeburn | September 28, 2012 11:19 am
American Greetings (NYSE:AM) announced on Friday that it lost $4.3 million during its fiscal second quarter, compared to earnings of $14.5 million in the same period last year.
That meant a loss of 13 cents per share for the quarter. Excluding a charge of 37 cents per share relating its its acquisition of bankrupt British card chain, Clinton Cards, American Greetings earned 24 cents a share, the Associated Press noted.
The card maker said that revenue during the quarter was $393.8 million, up 6% from $370.2 million in 2011.
Sales from 400 newly-added Clinton Cards stores boosted quarterly revenue by $26 million.
Earlier this week, American Greetings reported that it’s board is reviewing a $580 million buyout bid from a group of investors including its current CEO Zev Weiss and other members of the Weiss family.
Shares of American Greetings slipped fractionally in Friday morning trading.
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