Day Runner Income Dashes Up 26.7% in Record-Breaking ’93

Day Runner Inc. on Monday credited a strong fourth quarter and increased business from wholesale clubs and large office product retailers for record 1993 sales and earnings.

Net income rose by 26.7% to $5.6 million, or 93 cents per share, up from $4.5 million, or 77 cents per share, a year earlier. Revenue rose to $81.9 million last year from $71.2 million.

Earnings during the unusually strong fourth quarter rose by 71.6% to $3.2 million. Fourth-quarter revenue rose to $32.3 million, up from $22.8 million a year earlier.

“The fourth quarter of 1993 was the best quarter in Day Runner’s history,” said Mark Vidovich, Day Runner chairman and chief executive. “We believe that the solid groundwork we laid earlier in 1993 paid off during the crucial last three months of the year.”

While Day Runner historically reports strong second and fourth quarters, the final reporting period of 1993 was driven by “significant growth in our sales to mass market customers, including wholesale clubs, the office products super-store channel and international customers,” Vidovich said.

In a related move, Day Runner changed its fiscal year end from Dec. 31 to June 30. The change will “allow us to to do our intensive business planning during our less busy season,” Vidovich said. The company will report a six-month fiscal year ending June 30, and begin the 1995 fiscal year on July 1.

Day Runner manufactures and markets paper-based personal organizers for the retail market.