December 24, 2004 |
American Greetings Corp. said third-quarter profit rose 35% as a boost from the sale of its reading glasses division offset low sales of cards and gift wrap. The company also reduced its earnings forecast for the year. The Cleveland-based company said it earned $62.8 million, or 78 cents a share, in the quarter. That's up from $46.4 million, or 60 cents a share, in the third quarter a year earlier.
December 18, 2004 |
American Greetings Corp., a 100-year-old greeting-card company, said it bought a major stake in Hatchery, which develops and produces family and children's entertainment. Terms were not disclosed. The partnership will enable American Greetings, creator of Care Bears and Strawberry Shortcake, to use its characters in Hatchery's films, videos and TV shows.
July 26, 2003 |
The former president of American Greetings Corp. has settled accusations that he used insider information to avoid nearly $500,000 in stock losses, the Securities and Exchange Commission said. Edward Fruchtenbaum, who has denied wrongdoing, agreed to pay back $79,437 of his gains plus $267,022 in fines and court costs. The settlement also prohibits him from serving as an officer or director of a publicly held company for five years, the SEC said.
September 14, 2001 |
American Greetings Corp. said it would buy rival Bluemountain.com for $35 million in cash, just two years after At Home Corp. paid $780 million in cash and stock for the e-mail greeting card publisher. The deal gives debt-laden high-speed Internet access firm At Home some much-needed cash. The Redwood City, Calif.-based company had warned that it lacked enough funds to carry it through the end of the year. American Greetings, which operates the AmericanGreetings.com, Egreetings.
February 6, 2001 |
American Greetings Corp. said it will miss fiscal fourth-quarter and full-year profit estimates because of a $33-million charge to revise the value of its investment in Egreetings Network Inc. The company, which acquired 20% of Egreetings with the purchase of Gibson Greetings last year, also said its online unit will acquire the rest of Egreetings for about $28.6 million, or 85 cents a share.
January 31, 2001 |
American Greetings Corp., the second-largest U.S. greeting card maker, sued its No. 1 rival, Hallmark Cards Inc., over patents for ordering personalized cards online. In a lawsuit filed Jan. 25 in federal court in Ohio, American Greetings contends that Hallmark's three patents, awarded in 1996, 1999 and 2000, "are invalid under the laws of the U.S." because Hallmark knew of earlier inventions before the patents were issued. The suit says that Kansas City, Mo.