New England Business Services Inc. reported third-quarter revenue of $127.3 million, a decline of 4.2% compared with the same period last year.
But net income totaled $5.9 million, a jump from the $4.6 million recorded during the third quarter of 2002.
However, net income would have been $600,000 lower this year and $300,000 higher last year without non-recurring items.
“Given our third-quarter results and continuing uncertainty of the U.S. economy, we now expect revenue for the year to be 3-5% below last year,” said CEO Robert J. Murray in a statement.
The business-to-business direct marketer realized a $1 million pretax gain during the third quarter from the sale of its equity interest in Advantage Payroll Services Inc. Last year