MOD-PAC CP
			Symbol			MPAC

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MOD-PAC CORP. Reports Earnings per Share of $0.29 on $12.6 million in Revenue in Third Quarter 2009

2009-11-04 07:05 ET - News Release

• Third quarter net income of $1.01 million, up from $14 thousand in prior year, despite relatively flat total revenue

• Product line rationalization drove margin expansion: Third quarter gross and operating margins each up 440 basis points to 20.0% and 5.4%, respectively

• Custom folding carton sales increased 14.8% for the quarter and 16.7% for the nine months; Offset declines in other product lines

• Generated $1.0 million in cash from operations in the quarter on higher net income; Asset sales and surrendered insurance policies net additional $1.1 million in cash in quarter

• Reduced outstanding line of credit by $1.7 million; $0.3 million cash on hand

Company Website: http://www.modpac.com
BUFFALO, N.Y. -- (Business Wire)

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