American Experiences Best Month in 23 Years
January 28, 2004
Press Release
American Solutions for Business Experiences Best Month in 23 Years
Employee-owned Company Anticipates Strong Future
Glenwood, Minnesota As America watches and waits for the economy to recover, people at American Solutions for Business are feeling the impact of renewed activity and elevated sales. Even after 9/11 when this country experienced a widespread economic slowdown, this Minnesota-based company experienced positive growth and a strong bottom line. Things are looking even better now.
In December 2003, American experienced its largest billing month in the company’s 23-year history. The company saw an increase in revenue of nearly 18 percent over the same period in 2002. This trend is also reflected in the company’s bottom line as American continues to exceed prior year’s revenue and income. Year-to-date net earnings for a six-month period ending in December 2003 were up 114 percent from the same period during the previous year. With their fiscal year only half over, indications are that American Solutions for Business is well positioned for unprecedented growth.
Craig McLain, Chief Operating Officer, said recently, “This type of performance will have a significant impact on our ESOP share price. We look for great things at year-end if we can keep the momentum through June.” American became employee-owned in 2000 through the formation of an ESOP (Employee Stock Ownership Plan). Under the ESOP, which is non-contributory, shares in the corporation are purchased annually with corporate profits and allocated to employees in good standing.
A distributor of printing, promotions, office supplies, corporate apparel, e-commerce solutions and enterprise-wide document management, American Solutions for Business employs over 500 sales associates and 290 staff people throughout the country.
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