Moore reports loss on dramatic restructuring

Article Abstract:

Moore Corp. Ltd., a business forms firm headquartered in Toronto, Canada, posted a $644 million in loss from operations in the third quarter ended Sep. 30, 1998, largely due to a writedown of C$630 million. The writedown covers the costs of the restructuring of the company, which was also taking a one-time charge of C$15 million, including expenditures of C$9 million connected with the year 2000 compliance matter. Moore is selling non-core holdings, including its Rediform unit based in Dallas, TX, and its forms and labels business in Europe. In addition, the Toronto company is eliminating 1,900 jobs, representing 10% of the company's total employment.

Comment:

Posts a $644 mil in loss from operations in the 3rd qtr ended 9/30/98 largely due to a writedown of C$630 mil

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Moore projects operating loss

Article Abstract:

Moore Corp. Ltd. of Toronto, Canada, is poised to declare an operating loss for the second quarter of 1998, ending Jun. 30, 1998. The company arrived at this conclusion following its preliminary assessment of the company's performance so far in the second quarter of 1998. The projected operating loss is attributed to the outcome of lower volumes and the high cost structure of Moore's forms division and seasonal weakness. Likewise, the C$15 million in onetime corporate fees and proposed budget to solve the Year 2000 computer bug will negatively affect Moore's results in the second quarter of 1998.

Comment:

Is poised to declare an operating loss for the second quarter of 1998, ending 6/30/98

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Moore posts fourth-quarter loss

Article Abstract:

Moore Corporation Ltd had a loss of $35 million for 4th qtr 2000 compared with a profit of $72 million for 4th qtr 1999. A loss of business and an increase in computer system costs caused the loss for the quarter.

Manifold business forms, Statistical Data Included, Finance, Company Profile

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