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The Waverley Group Inc history
The Waverley Group Inc company history timeline
Armed with $14 million in cash from periodical subscriptions paid in advance, the company also began making acquisitions, buying Nurseco Inc., a small nursing publishing firm, in 1985.
When the labor-intensive, but nonunionized, printing division began lagging in profits, the company in 1986 changed medical carriers, eliminated automatic annual bonuses, cut back vacations, and raised the work week from 38 to 40 hours without an increase in pay.
Among these expenditures was the purchase, in 1988, of Rynd Communications, Inc. for $1.6 million and MedDeck, Inc. for more than $2.2 million.
In 1990 Waverly's net sales jumped to $121.7 million and its net income to almost $4 million.
Long-term debt had been reduced to $3.7 million at the end of the year, compared to $12.2 million at the end of 1991.
By 1992 the company had formed joint ventures with local partners to sell medical books in Australia, Hong Kong, and Japan, and to print them in Poland.
Waverly Press had accounted for about 22 percent of the parent company's revenues of $161 million in 1992.
July 27-31, 1993: Waverley Country Club hosts the 46th Annual United States Junior Amateur Championship.
In 1996 members of the Passano family still held 59 percent of the company's common stock.
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The Waverley Group Inc may also be known as or be related to The Waverley Group Inc and WAVERLEY GROUP INC.