Day Runner Profit Up

Day Runner Inc., a personal and business planner maker said Wednesday that profit for its fiscal 1997 rose 6% to $12.5 million, or $1.90 a share, from $11.8 million, or $1.79 a share, the previous year.

Revenue for the 12 months ended June 30 rose 1.8% to $127.4 million from $125.1 million. The company said its annual profit was constrained by the cost of several unsuccessful acquisition bids that lopped almost $1 million from net income.

For the final quarter, Day Runner’s profit rose 41% to $4.1 million, or 65 cents a share, from $2.9 million, or 45 cents a share. Revenue for the April-through-June period rose 10.8% to $37.8 million from $34.1 million.

The company said it has obtained licenses to market planners and organizers using the popular Far Side and Dilbert cartoons and that it expects the new lines to add to sales in coming quarters.

Separately, Day Runner reported Wednesday that it repurchased 513,100 shares of its common stock during its 1997 fiscal year at an average price of $26.39 per share, including 288,800 shares acquired in the fourth quarter at an average price of $26.93. The company in February authorized repurchase of up to 600,000 shares.

Day Runner also said that it has completed its previously announced cash purchase of Ultima Distribution Inc., the Canadian distributor of its products, for $725,000.