Pareto Corp. saw its fourth-quarter net earnings rise to $1.6 million, up slightly from $1.4 million, the marketing firm said today.
On a per-share basis, the net income was four cents up from three cents.
Revenue for the quarter was $21.7 million, up 4% from $20.9 million, in the fourth quarter of 2007.
Pareto president and chief executive Kerry Shapansky said every one of the company’s retail promotion clients increased their spending with Pareto in 2008.
“I am pleased that we were able to continue to grow our business, particularly in the second half of the year, even as the broader economy fell into decline,” Shapansky stated.
“Pareto became a more disciplined business in 2008. We worked hard to trim costs, improve our processes, and narrow our strategic focus to areas where we can be best in class,” he added.
Pareto’s full year profit was $3.6 million or eight cents per share, up from 2007 net earnings of $3.1 million or seven cents per share.
Revenue for the year was $77.2 million, up 4% from $74.3 million in 2007.
Pareto shares were unchanged at 49 cents in Thursday morning trading on the Toronto Stock Exchange.
