USA: Clothing Tag Maker Paxar Posts Q2 Profit Plunge
Garment tag and label maker Paxar Corp on Tuesday posted a steep slide in second quarter net profit as it was hurt by restructuring charges for job cuts and severance payments to its former CEO. The New York-based company said in a news release net income for the 13 weeks to June 30 fell to $7 million, or 18 cents per share, from $31.1m, or 32 cents per share, in the year-ago period.
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