Anacomp announces Q3 '98 financial results

Anacomp (Nasdaq: ANCO) reports Q3 '98 financial results. Revenue of $121.0 million compares with Q3 '97 revenue of $114.0 million. Including amortization of assets and restructuring charges, a net loss of $23.6 million, compared with a Q3 '97 net loss of $14.0 million. Services revenue was up 24% from Q3 '97 to Q3 '98, offsetting a 6% decline in equipment and supply sales. During the quarter Anacomp completed the purchase of First Image (later selling two of the business units for $45 million), giving the company several thousand new customers in 20 new cities. Anacomp also spent $8.5 million to restructure into six business units in order to cut overhead, expand the company's services business, and migrate customers to newer products and services.