MOD-PAC cuts losses in 3Q
MOD-PAC Corp. said revenues declined in the third quarter but the printer and paper board packaging company was able to turn a slight profit.
Net income was $14,000 compared to a $1.1 million loss last year.
Revenue totaled $12.6 million, off 3.4 percent from $13.1 million in the 2007 second quarter cash loan till pay day in one hour.
Officials of the Buffalo-based company (NASDAQ: MPAC) said the sluggish economy hampered sales but restructured operations have helped reduce costs.