Ha-Lo profits fall 80%

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Ha-Lo Industries, Chicago, said fourth-quarter net income slid by 80% from the year-ago period to $2 million, while sales increased 6% to $185.8 million. Yearend results: net income down 85% to $4.5 million, sales up 10% to $650.4 million. Ha-Lo, a brand marketing company specializing in promotional and premium items, said profitability will no longer be its near-term focus as it converts to an Internet business with the acquisition of Starbelly.com.

Copyright February 2000, Crain Communications Inc.

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