Day Runner Ends Strong Debut Week on Wall Street

Orange County's latest newcomer to Wall Street, Day Runner Inc., ended its debut week in style. The Fullerton company's stock closed Friday at $20.25 a share, up 35% from Wednesday's initial public offering price of $15.

Day Runner, which manufactures paper-based personal organizers, raised $15 million in its offering, selling 1 million shares of stock to the public. Another 575,000 shares were sold by major stockholders. The stock closed Wednesday at $17.75, and on Thursday closed at $18.50.

Wall Street analysts had predicted that the stock would get off to a strong start.

The company, founded 10 years ago in a West Hollywood garage, has seen its profits soar since the mid-1980s. Annual sales grew from $11.1 million in 1987 to $53.2 million last year.

Copyright © 2019, Los Angeles Times
EDITION: California | U.S. & World