Following a tumultuous year that saw the ouster by shareholders of co-founder Laurence Orbach, Quarto reported 2012 results and reasserted their plans for the future, which include the possibility of selling off some of their hodgepodge of assets to help pay down their debt. (Borrowings include approximately $91 million in medium- and long-term loans). Sales fell $5.2 million to $180.9 million for the year. Profit before amortization and special items was $16.6 million, and after-tax profit of $5.5 million was down over 30 percent from $8.1 million a year ago. US trade sales of $59 million fell 12 percent, due […]
