Brand marketing company Ha-Lo Industries, Niles, Ill., reported a net loss of $4.6 million for the first quarter, vs. net income of $4.2 million in the year-ago period. First-quarter sales increased 2.7% to $161.2 million. The company said its financial profile will change after its $240 million acquisition of Starbelly.com, expected to occur early next month. The combined promotional products business will be name Starbelly.com, a division of Ha-Lo. "Longer term, we look forward to extending our e-transformation strategy to our marketing services segment of our business," said Ha-Lo President-CEO John Kelley. "Through e-transformation, both the promotional products and marketing services groups are primed to unleashed significant corporate value."
Copyright April 2000, Crain Communications Inc.