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Outlook Graphics--Wisconsin 7/27/92 [OA 7577] [2]
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Outlook Graphics--Wisconsin 7/27/92 [OA 7577] [2]
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Speech Backup Chronological Files
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Originally Processed With FOIA(s):
FOIA Number:
S
S
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MARKER
This is not a textual record. This is used as an
administrative marker by the George Bush Presidential
Library Staff.
Record Group/Collection: George H.W. Bush Presidential Records
Collection/Office of Origin:
Speechwriting, White House Office of
Series:
Speech File Backup Files
Subseries:
Chron File, 1989-1993
OA/ID Number:
13823
Folder ID Number:
13823-006
Folder Title:
Outlook Graphics--Wisconsin 7/27/92 [OA 7577] [2]
Stack:
Row:
Section:
Shelf:
Position:
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26
22
6
6
OUTLOOK GRAPHICS IN NEENAH WISC
--co prints boxes, baseball cards, football cards, special Desert
Storm Cards (pictures of POTUS), will present POTUS with a framed
sheet of the Desert Storm Cards
--contact: Pres. Dave Erdmann or asst John Wiley (414) 722-2333
--Fox Cities Chamber of Commerce: Greg Hunt (414) 734-7171
--Scot Schmuoller from Wisc Dept of Admin overseeing the
apprenticeship (608)267-2704 or Jim Milslagle of Banta CO.
(414) 722-7777.
--youth apprent prog : take kids from vocational and technical
schools, not going to college, etc, have them working in places
like this 3 days a week then going to votech 2 days a week
--problem: they're not even starting yet, kids starting to train
on machines early
Can't say it's already been a success
need
to talk about its promise.
--this area has had a lot of growth
but people they're selling
to are cutting back
THE WHITE HOUSE
WASHINGTON
July 24, 1992
INFORMATION
MEMORANDUM FOR THE PRESIDENT
THROUGH:
STEVEN PROVOST
Mer fasp
FROM:
ANDREW FERGUSON
a7
SUBJECT:
OUTLOOK GRAPHICS
NEENAH, WISCONSIN
I. SUMMARY
On Monday, July 27, at 2:00 p.m., you will deliver remarks
(17 minutes, on prompter) to approximately 700 employees of
Outlook Graphics Corporation.
II. DISCUSSION
This speech is almost identical to the Michigan draft, with
the exception of the introductory remarks on the first page, the
Youth Apprenticeship section on page 5, and remarks about the
Democratically controlled Congress on page 8. In addition, cuts
have been made to compensate for the additional material on youth
apprenticeship.
Note: Outlook Graphics is a manufacturer of sports trading
cards, including a George Bush series; hence, the joke on page 1.
(Provost/Ferguson/Grossman)
July 24, 1992
WISCONSIN
Draft Two
PRESIDENTIAL REMARKS: OUTLOOK GRAPHICS
NEENAH, WISCONSIN
JULY 27, 1992
2:00 PM
Thank you and good afternoon everyone.
(Acknowledgments)
It's a great pleasure to be here. For any sports fan, it's
a thrill to be with the producers of America's sports trading
cards. ((And for me it's a little humbling. I don't dare ask
you how many hundreds of George Bush cards you have to trade to
get even one Michael Jordan.))
I've come here to talk a little bit about our future
about the kind of nation we want for ourselves
and our
children. The world has undergone remarkable changes the past
few years. Today our kids worry about the usual things
about
school, friends, about such earth-shattering questions as
where can I get an Olympic "Dream Team" card. But I can tell you
one thing they don't worry about any more -- one thing they might
have worried about just a short while ago
...
the spectre of
nuclear war.
Today
America is safer than ever before. Safer than we
were a decade ago. Safer than we were a year ago. Safer than we
were just a few weeks ago when I sat down with Boris Yeltsin
and agreed to eliminate some of the most dangerous nuclear
weapons on earth.
2
Now that we have changed the world
it is high time to
change America. Time to turn our attention to pressing
challenges like how to give a pink slip to our slow-growth
economy. How to make America's families more like the Waltons,
and less like the Simpsons. And how to take back our streets
from the crack dealers and the criminals.
This election year, we are told, is about how we can change
to meet these challenges. But this election is not just about
change, because change has a flip side. It's called trust. When
you get down to it, this election will be like every other. When
you go into that voting booth and pull the curtain behind you:
"trust" matters.
And that's the way it should be. Many times, in the White
House late at night, the phone rings. Usually it's a young aide
double-checking the next day's schedule. But occasionally, it's
another voice -- more serious, solemn -- carrying news of a coup
in a powerful country, or the invasion of an ally halfway around
the world. The American people need to know that the man who
answers that phone has the experience, the seasoning, to do the
right thing.
That's trust in the traditional sense. But people who've
spent their lives in government forget that trust is more even
than that. I'm a Texan -- raised my children there, built my
business there. I've learned that our country's heartbeat can be
felt in places like Neenah, Wisconsin
not Washington, D.C.
3
And so I stake my claim on a simple philosophy: to lead a great
nation you must first trust the people you lead.
If you look at almost every important issue we face
you
see a clear choice -- a choice between those who put their faith
in average Americans --- and those who put their faith in
government.
Let me explain what I mean. Starting with the basics --
home and family.
The most difficult question many parents face is --- "who
will care for the kids while we're working?" A few years ago,
Washington wanted to help, but their idea was to rock the cradle
with the heavy hand of bureaucracy. All the plans boiled down to
creating some new kind of government apparatus, like a Pentagon
for child care.
I fought for a different approach and won. Our landmark
legislation allows parents -- not the government -- to decide
whether your children are cared for in school, a relative's home,
or church.
When it comes to raising children, I say: why not trust the
people?
What about our education system? To renew America we must
renew our schools, we all know this, but money alone won't do it.
We already spend more money per student than almost any other
country; and our kids still rank near the bottom in crucial
subjects like math and science. Again: a lot of ideas floating
around, most of them to pump more tax money into the same system.
4
I say try something different. Open up schools to
competition, and trust you to decide whether you want your kids
to learn in a public school, a private school or a religious
school.
When it comes to education, again I say: "why not trust the
people?"
What about government regulation? Sure, some of it is
necessary, even essential. But if you believe that there is a
government solution to every problem, an alphabet agency for
every issue, than you look at regulation not as a necessary evil,
but as a necessary way to rein in people's evil tendencies. The
results can be crazy, as this story proves.
The time had come recently for a government agency to update
its rules on hard hats. That's right: hard hats. And someone in
that agency stumbled upon a potential national crisis --- workers
being infected from hard hats. The alarms went off. The
bureaucratic blood boiled. One small fact was overlooked. There
wasn't a single documented case, anywhere in the United States,
of anyone getting infected from someone else's hard hat.
That didn't deter the bureaucrat. So with the best of
intentions, the rule was written: every hard hat must be
disinfected before one worker passed it to another. Estimated
cost to business: $13 million a year. Measurable benefit:
slightly less than zero.
Luckily, this story has a happy ending, but only because we
were there to give it one. We found the regulation before it hit
5
the books, and said: we think America can survive without this
particular hard hat regulation.
But can you imagine what might have happened if these
enterprising regulators had made their way into the vast,
unregulated territory of lunch pails and thermos bottles?//
Some believe the solution to our problems is more government
regulation. I take a different view. I've put a moratorium on
new federal regulations, to give businesses like this one room to
breathe, and grow and create jobs.
On child care, education, regulation, it's a matter of trust
trusting Americans to make their own choices.
The point is not to let people fend for themselves.
Americans are a generous people; and government must never shirk
its responsibilities. But programs have to give people a hand-
up
and trust human ingenuity to take it from there.
You'll find a good example of what government can do right
here at Outlook. Last April, I challenged the nation's governors
to join me in helping our young people enter the world of work.
I am particularly concerned about teenagers
who want to work
want to learn a skill
but may be tempted to drop out of
school. True to form, Gov. Tommy Thompson is already reaching
out to these young people, along with concerned businessmen and
community leaders. The youth apprenticeship program will
encourage these kids to complete a sound high-school education,
while getting on-the-job training at companies like Outlook.
This program connects education with the real world of work.
6
Government can help make that connection -- and I salute Gov.
Thompson for helping me create a workforce that's up and ready
for the challenges of the next century.
So I believe we can give Americans the tools
and then
it's a matter of trust -- trusting Americans to make their own
choices. And when it comes to the most pressing issue of this
election year -- revving up our economy -- forgetting this idea
of trust is not just a nuisance; it can be downright dangerous.
The revolutions of the past few years herald a new era of
global economic competition, with free markets from Siberia to
Santiago.
Can the U.S. compete
now that everyone is playing our
game? I know we can. Despite all the criticism you've heard
lately, keep in mind a few facts. We are the largest economy in
the world. Inflation, the Willie Sutton who robs the middle
class of dreams, has been put safely behind bars. The last time
interest rates stayed this low, the Brady Bunch hadn't even
started re-runs yet. Despite all the stories about our problems,
our workers are still the most productive in the world -- more
productive than the English, the Germans, the Japanese.
But while our economy is growing, it must grow faster. The
question is: how do we do it? The other side suggests a simple
two-part solution. First, jack up government spending! And
then: raise taxes!
Now as you evaluate their idea, keep this in mind. Here in
Wisconsin, whether you like it or not, you already work 126 days
7
just to pay your taxes -- before you earn a single dime to spend
on your family. I don't think I have to ask -- does anyone want
to go for 127?//
All this talk of spending and taxes causes me to wonder
if the other side is a little hard of hearing. Abraham Lincoln
spoke of government "of the people, by the people, for the
people.' But they seem to keep saying
...
of the government, by
the government, and for the government.
They're hard to dissuade. I'll give you a great example.
In January I proposed a common-sense, comprehensive plan to get
this economy moving faster, now.
The first sound of a strong economy is usually the sound of
hammers pounding away at new homesites. So I proposed tax
incentives to build new homes, and a $5,000 tax break for
families who want to buy their first one. Here in Wisconsin,
that equals nine months of mortgage payments on the average
house.
I understand that private enterprise is the horse that pulls
our wagon -- no government program ever created a real job
((although government did keep Johnny Carson in business for 30
years) ) So I proposed incentives for businesses to grow and
hire. It's estimated those incentives would have spurred the
creation of at least half a million jobs
if they had been
approved when I proposed them.
8
But they weren't approved. Instead, Congress sent back
what you might call an "anti-trust" program. New government
spending, and new taxes.
So I sent their plan back. I told them to try again. But
they still haven't done anything. And it leads me to a theory.
In your business, certain numbers mean something. Number 16 is
Joe Montana, Number 34 is Nolan Ryan, Number 33 is Patrick Ewing.
But there's another number that tells you all you need to know
about what's wrong with Washington: Number 38. That's how many
years the same party has had control of Congress. I say it's
time to trade in old Number 38. Give me a Republican Congress so
America can stay Number One.
You see
it all comes down to a question of trust. I
trust you to spend and save your money more wisely than any
budget planner in Washington.
This is common sense, and I agree. But there's a certain
type of person attracted to government for whom the word "trust"
has a strange meaning. Most of them have spent their lives in
government, and don't have much experience in the real world.
They say they want to
"put people first. "
But
if
you
look closely at what they're advocating
the people they put
first are all on a government payroll.
A leader of a free people must understand that government
can not only help, it can hinder. He must have the confidence to
say: "I trust you. # I trust the people. //
9
Yes, America will change, just as we have changed the world.
The question now is: Who will change America for the better?
Trust me when I tell you this: it won't be a team of economists
from Harvard, or a gaggle of social scientists from a Washington
think tank.
If you want to know who's going to change America -- look
around you. It's going to be the guy who works an extra shift
every week so his son can go to the school of his choice. It's
going to be the small businesswoman who takes a risk on a new
product. The computer hacker working in a lonely garage, the
merit scholar from South Central L.A., the entrepreneur with a
future as big as his dreams.
There's your answer: The American people are going to change
America.
But only if they have a government with the wisdom to know
its own limits, with a leadership who knows where the true
American imagination lies. Countries around the world have at
long last understood the power of trusting the people. America
will change by reaffirming the lesson it has taught the world --
by trusting a leader who trusts you.
Thank you and God bless you, and God bless the United States
of America.
#
#
THE WHITE HOUSE
WASHINGTON
July 24, 1992
INFORMATION
MEMORANDUM FOR THE PRESIDENT
THROUGH:
STEVEN PROVOST Mer fasp
FROM:
ANDREW FERGUSON at
SUBJECT:
OUTLOOK GRAPHICS
NEENAH, WISCONSIN
I. SUMMARY
On Monday, July 27, at 2:00 p.m., you will deliver remarks
(17 minutes, on prompter) to approximately 700 employees of
Outlook Graphics Corporation.
II. DISCUSSION
This speech is almost identical to the Michigan draft, with
the exception of the introductory remarks on the first page, the
Youth Apprenticeship section on page 5, and remarks about the
Democratically controlled Congress on page 8. In addition, cuts
have been made to compensate for the additional material on youth
apprenticeship.
Note: Outlook Graphics is a manufacturer of sports trading
cards, including a George Bush series; hence, the joke on page 1.
(Provost/Ferguson/Grossman)
July 24, 1992
WISCONSIN
Draft Two
PRESIDENTIAL REMARKS: OUTLOOK GRAPHICS
NEENAH, WISCONSIN
JULY 27, 1992
2:00 PM
Thank you and good afternoon everyone.
(Acknowledgments)
It's a great pleasure to be here. For any sports fan, it's
a thrill to be with the producers of America's sports trading
cards. ((And for me it's a little humbling. I don't dare ask
you how many hundreds of George Bush cards you have to trade to
get even one Michael Jordan.))
I've come here to talk a little bit about our future
...
about the kind of nation we want for ourselves
and our
children. The world has undergone remarkable changes the past
few years. Today our kids worry about the usual things
about
school, friends, about such earth-shattering questions as
where can I get an Olympic "Dream Team" card. But I can tell you
one thing they don't worry about any more -- one thing they might
have worried about just a short while ago
...
the spectre of
nuclear war.
Today
America is safer than ever before. Safer than we
were a decade ago. Safer than we were a year ago. Safer than we
were just a few weeks ago
when I sat down with Boris Yeltsin
and agreed to eliminate some of the most dangerous nuclear
weapons on earth.
2
Now that we have changed the world
it is high time to
change America. Time to turn our attention to pressing
challenges like how to give a pink slip to our slow-growth
economy. How to make America's families more like the Waltons,
and less like the Simpsons. And how to take back our streets
from the crack dealers and the criminals.
This election year, we are told, is about how we can change
to meet these challenges. But this election is not just about
change, because change has a flip side. It's called trust. When
you get down to it, this election will be like every other. When
you go into that voting booth and pull the curtain behind you:
"trust" matters.
And that's the way it should be. Many times, in the White
House late at night, the phone rings. Usually it's a young aide
double-checking the next day's schedule. But occasionally, it's
another voice -- more serious, solemn -- carrying news of a coup
in a powerful country, or the invasion of an ally halfway around
the world. The American people need to know that the man who
answers that phone has the experience, the seasoning, to do the
right thing.
That's trust in the traditional sense. But people who've
spent their lives in government forget that trust is more even
than that. I'm a Texan -- raised my children there, built my
business there. I've learned that our country's heartbeat can be
felt in places like Neenah, Wisconsin
not Washington, D.C.
3
And so I stake my claim on a simple philosophy: to lead a great
nation you must first trust the people you lead.
If you look at almost every important issue we face ...
you
see a clear choice -- a choice between those who put their faith
in average Americans --- and those who put their faith in
government.
Let me explain what I mean. Starting with the basics --
home and family.
The most difficult question many parents face is --- "who
will care for the kids while we're working?" A few years ago,
Washington wanted to help, but their idea was to rock the cradle
with the heavy hand of bureaucracy. All the plans boiled down to
creating some new kind of government apparatus, like a Pentagon
for child care.
I fought for a different approach ... and won. Our landmark
legislation allows parents -- not the government -- to decide
whether your children are cared for in school, a relative's home,
or church.
When it comes to raising children, I say: why not trust the
people?
What about our education system? To renew America we must
renew our schools, we all know this, but money alone won't do it.
We already spend more money per student than almost any other
country; and our kids still rank near the bottom in crucial
subjects like math and science. Again: a lot of ideas floating
around, most of them to pump more tax money into the same system.
4
I say try something different. Open up schools to
competition, and trust you to decide whether you want your kids
to learn in a public school, a private school or a religious
school.
When it comes to education, again I say: "why not trust the
people?"
What about government regulation? Sure, some of it is
necessary, even essential. But if you believe that there is a
government solution to every problem, an alphabet agency for
every issue, than you look at regulation not as a necessary evil,
but as a necessary way to rein in people's evil tendencies. The
results can be crazy, as this story proves.
The time had come recently for a government agency to update.
its rules on hard hats. That's right: hard hats. And someone in
that agency stumbled upon a potential national crisis --- workers
being infected from hard hats. The alarms went off. The
bureaucratic blood boiled. One small fact was overlooked. There
wasn't a single documented case, anywhere in the United States,
of anyone getting infected from someone else's hard hat.
That didn't deter the bureaucrat. So with the best of
intentions, the rule was written: every hard hat must be
disinfected before one worker passed it to another. Estimated
cost to business: $13 million a year. Measurable benefit:
slightly less than zero.
Luckily, this story has a happy ending, but only because we
were there to give it one. We found the regulation before it hit
5
the books, and said: we think America can survive without this
particular hard hat regulation.
But can you imagine what might have happened if these
enterprising regulators had made their way into the vast,
unregulated territory of lunch pails and thermos bottles?//
Some believe the solution to our problems is more government
regulation. I take a different view. I've put a moratorium on
new federal regulations, to give businesses like this one room to
breathe, and grow and create jobs.
On child care, education, regulation, it's a matter of trust
trusting Americans to make their own choices.
The point is not to let people fend for themselves.
Americans are a generous people; and government must never shirk
its responsibilities. But programs have to give people a hand-
up
and trust human ingenuity to take it from there.
You'll find a good example of what government can do right
here at Outlook. Last April, I challenged the nation's governors
to join me in helping our young people enter the world of work.
I am particularly concerned about teenagers
who want to work
want to learn a skill
but may be tempted to drop out of
school. True to form, Gov. Tommy Thompson is already reaching
out to these young people, along with concerned businessmen and
community leaders. The youth apprenticeship program will
encourage these kids to complete a sound high-school education,
while getting on-the-job training at companies like Outlook.
This program connects education with the real world of work.
6
Government can help make that connection -- and I salute Gov.
Thompson for helping me create a workforce that's up and ready
for the challenges of the next century.
So I believe we can give Americans the tools
and then
it's a matter of trust -- trusting Americans to make their own
choices. And when it comes to the most pressing issue of this
election year -- revving up our economy -- forgetting this idea
of trust is not just a nuisance; it can be downright dangerous.
The revolutions of the past few years herald a new era of
global economic competition, with free markets from Siberia to
Santiago.
Can the U.S. compete
now that everyone is playing our
game? I know we can. Despite all the criticism you've heard
lately, keep in mind a few facts. We are the largest economy in
the world. Inflation, the Willie Sutton who robs the middle
class of dreams, has been put safely behind bars. The last time
interest rates stayed this low, the Brady Bunch hadn't even
started re-runs yet. Despite all the stories about our problems,
our workers are still the most productive in the world -- more
productive than the English, the Germans, the Japanese.
But while our economy is growing, it must grow faster. The
question is: how do we do it? The other side suggests a simple
two-part solution. First, jack up government spending! And
then: raise taxes!
Now as you evaluate their idea, keep this in mind. Here in
Wisconsin, whether you like it or not, you already work 126 days
7
just to pay your taxes -- before you earn a single dime to spend
on your family. I don't think I have to ask -- does anyone want
to go for 127?//
All this talk of spending and taxes causes me to wonder
if the other side is a little hard of hearing. Abraham Lincoln
spoke of government "of the people, by the people, for the
people.' But they seem to keep saying
of the government, by
the government, and for the government.
They're hard to dissuade. I'll give you a great example.
In January I proposed a common-sense, comprehensive plan to get
this economy moving faster, now.
The first sound of a strong economy is usually the sound of
hammers pounding away at new homesites. So I proposed tax
incentives to build new homes, and a $5,000 tax break for
families who want to buy their first one. Here in Wisconsin,
that equals nine months of mortgage payments on the average
house.
I understand that private enterprise is the horse that pulls
our wagon -- no government program ever created a real job
((although government did keep Johnny Carson in business for 30
years) So I proposed incentives for businesses to grow and
hire. It's estimated those incentives would have spurred the
creation of at least half a million jobs
if they had been
approved when I proposed them.
8
But they weren't approved. Instead, Congress sent back
what you might call an "anti-trust" program. New government
spending, and new taxes.
So I sent their plan back. I told them to try again. But
they still haven't done anything. And it leads me to a theory.
In your business, certain numbers mean something. Number 16 is
Joe Montana, Number 34 is Nolan Ryan, Number 33 is Patrick Ewing.
But there's another number that tells you all you need to know
about what's wrong with Washington: Number 38. That's how many
years the same party has had control of Congress. I say it's
time to trade in old Number 38. Give me a Republican Congress so
America can stay Number One.
You see
it all comes down to a question of trust. I
trust you to spend and save your money more wisely than any
budget planner in Washington.
This is common sense, and I agree. But there's a certain
type of person attracted to government for whom the word "trust"
has a strange meaning. Most of them have spent their lives in
government, and don't have much experience in the real world.
They say they want to
"put people first. " But if you
look closely at what they're advocating
the people they put
first are all on a government payroll.
A leader of a free people must understand that government
can not only help, it can hinder. He must have the confidence to
say: "I trust you." I trust the people //
9
Yes, America will change, just as we have changed the world.
The question now is: Who will change America for the better?
Trust me when I tell you this: it won't be a team of economists
from Harvard, or a gaggle of social scientists from a Washington
think tank.
If you want to know who's going to change America -- look
around you. It's going to be the guy who works an extra shift
every week so his son can go to the school of his choice. It's
going to be the small businesswoman who takes a risk on a new
product. The computer hacker working in a lonely garage, the
merit scholar from South Central L.A., the entrepreneur with a
future as big as his dreams.
There's your answer: The American people are going to change
America.
But only if they have a government with the wisdom to know
its own limits, with a leadership who knows where the true
American imagination lies. Countries around the world have at
long last understood the power of trusting the people. America
will change by reaffirming the lesson it has taught the world --
by trusting a leader who trusts you.
Thank you and God bless you, and God bless the United States
of America.
#
#
Banta Corporation
River Place
FOXCITIES
227 S. Walnut Street
225 Main Street
P.O. Box 1855
Box 8003
CHAMBER OF COMMERCE & INDUSTRY
Appleton, WI 54913-1855
Menasha, WI 54952-8003
(414) 734-7101
414 722 7777
Toll Free 1-800-999-3224
BANTA
James E. Milslagle
Gregory S. Hunt
CORPORATION
Vice President, Human Resources
Vice President
Economic Development
OUTLOOK GRAPHICS
OUTLOOK GRAPHICS:
YOUR INNOVATIVE
PARTNER
Lunchable
T
OUTLOOK'S APPROACH TO
GRAPHIC MARKETING SUPPORT
COMPANY PROFILE
Outlook Graphics has done what no one else in the industry
Outlook Graphics was formed in 1977 as specialists in
has: carved a niche as a one-stop, full service source for
printing and mailing. The company experienced explosive
powerful graphic marketing support programs. By offering
growth and by 1983, it was named to the "Inc. 500" list of
a complete range of integrated services and featuring state-
fastest growing private companies in America. In 1988,
of-the-art equipment, and the most advanced print
Outlook underwent a major expansion, nearly doubling
production processes, we at Outlook have built a reputation
its physical plant and increasing its contract packaging
for helping customers seize new marketing opportunities
capabilities. In June 1990, Outlook announced an
wherever they exist.
additional expansion effort.
Outlook Graphics' commitment to the industry means a
INNOVATIVE PARTNERS
constant effort to broaden production capabilities with the
most advanced equipment and a continual development
As partners, we work one-on-one with our clients to build
of technical expertise. Today, that includes various new
dynamic promotional marketing programs that deliver big
packaging endeavors.
results. From start to finish, whether a program requires
printing, labeling, card converting, film overwrapping,
For the employee stockholders of Outlook Graphics,
cartoning or direct mail and fulfillment, Outlook Graphics
however, it is not enough for the company to evolve
has the complete capability under one roof.
to meet industry's needs. Rather the company strives
to develop new technologies that provide customers with
new opportunities.
UNSURPASSED ADVANTAGES
Our one call concept offers unsurpassed advantages.
Outlook's comprehensive services are streamlined which
means every job is coordinated efficiently, eliminating
costly shipping between subcontractors. A central project
coordinator oversees all technical production phases,
making multifaceted projects a breeze. Additional
advantages are realized through improved security and
quality control.
CREATIVE EXCELLENCE
What really sets us apart, in addition to offering more
options and services than anyone in the industry, is our
commitment to innovation and creative excellence.
OUTLOOK GRAPHICS
As EXPERTS IN THE PRODUCTION OF PRINTED PROMOTIONAL
MATERIALS, OUTLOOK GRAPHICS SERVES AS A PRIMARY SUPPLIER TO OSCAR
MAYER FOODS CORPORATION. IN ADDITION TO PRINTING, OSCAR MAYER RELIES
ON US FOR THE ENGINEERING, MANUFACTURING, PACKAGING AND INSERTING OF
SPECIALTY ITEMS — LIKE THE POLYWRAPPED LUNCHABLES™ NAPKINS - IN THEIR
date freshness 7 days beyond
CONSUMER FOOD PRODUCTS. THE Mauer LUNCHABLE ESTM PROGRAM ILLUSTRATES THE UNOPENED shown 8f 40°F when or stored below.
COMBINED POWER OF INNOVATION, TECHNOLOGY AND INDUSTRY EXPERIENCE,
ELEMENTS Lunchables
LUNCH COMBINATIONS
Del
KEEP
Mayer
Months BARG 100% step UNITED
behables
THE
LUNCH
MINATIONS
NETWI 4.50Z
OUTLOOK GRAPHICS
FILM OVERWRAPPING
When it comes to film overwrapping, we understand that you
can't afford to take chances on deadlines or quality. Outlook
has more than 20 overwrap machines to accommodate multiple
large-run jobs at one time - and on time. Our elaborate
quality control system, which includes a state-of-the-art testing
CHARLIE BROWNS
PARTY
laboratory, uses a form of statistical process control to ensure
MIX
that your job has a 99% AQL.
ChexCereals
Our capabilities include overwrapping clear or printed film
YEARS
in single or continuous formats. Outlook's one-of-a-kind
food grade clean room has met stringent FDA standards,
SAVE an any size, any Happy flavor size, 20¢
assuring safety and quality. Most importantly, it has
received the enthusiastic approval of many leading U.S.
SELECT
consumer products companies. Need to overwrap coupons,
premiums, foods or product samples? At Outlook, the best
is guaranteed.
to Protectings
FOLDING CARTONS
NEW!
Outlook can help you produce custom paperboard packages
INSURA PLAN ANCE
that make your customers sit up and take notice. Whether you
want one-color printing or five-color, standard paper or heavy
ideals
8000
new
stock, special die cuts, gluing or crash lock bottoms, Outlook
(ewhem?
BLAK RATAGE
frome
siel
Opional Benefits Guaranteed Wide Available Variety Rates Required of Plans Scoilailable
Covere
NCH
can do it all. Really want to make an impression?
to hear
hear
THERE
you
Consider embossing, cellophane windows or
Wantsuld
Compet
Home
Ideals
tipped-down coupons or premiums.
SPECIAL OFFER
Chocolate
HERSHIYS Choeolate
AMEX Nursing
Trust Outlook to create a production line that includes
package design, printing, die cutting, folding, gluing and
inserting your product in-line. And, of course, we'll pack and
into
ship to your distribution points, if you like. One call does it all.
ideals
to Ideals. FREE receive Return this your decide book order absolutely card and
DIRECT MAIL & FULFILLMENT
Your product has been cartoned, your coupons printed or your
premiums overwrapped. Time to ship them to the next vendor
for sorting, inserting, labeling, or mailing? Not at Outlook. At
our 160,000-square-foot direct mail division, Outlook is fully
equipped to handle your shipping and fulfillment needs.
SUMMARY
Outlook has made a substantial investment in high-speed,
In an industry where speed and accuracy are essential, Outlook
high-tech equipment to maximize your time and minimize your
is committed to delivering a finished product that meets your
costs. Material collating, inserting, custom polywrapping,
exacting standards every time. High-tech equipment alone won't
labeling or ink-jet addressing can be done in line to reduce
get your job done right. It takes creative people. People of
handling costs. Even our centralized Midwestern location and
integrity. People committed to quality and customer satisfaction.
proximity to Chicago's Bulk Mailing Center are used for your
It takes the people of Outlook Graphics. Put your innovative
convenience and financial advantage.
partners to work for you today.
GRAPHICS REPRODUCTION
Brokerage
Services
Top quality marketing demands top quality printing. At Outlook,
we use our creative versatility and extensive production equipment
to your best advantage. We have the capabilities to produce high
volume sheet fed printing in up to six colors plus varnishes and
aqueous coatings. Our bindery offers intricate custom die-
cutting, trimming, scoring, folding and specialty finishing.
ASSOCIATED
What's exceptional about Outlook's sheet-fed printing is
how it enhances our total graphics capabilities. Go ahead and
use Outlook for a self-contained printing job. We compete with
the best. But combine it with our on-site overwrapping, folding
EMI
carton, card converting, or mailing capabilities, and you've
discovered a rare treasure in the graphics industry.
PARKER
LABELS
COUPONS
VINYL CARDS
P-O-S
1988
ROBERT PEPI
Outlook's extensive graphic capabilities are complemented by
SAUVIGNON NAPA VALLEY
the printed promotional products offered by our label division,
COIN -VENDED SIZE
Outlook Label Systems. Housed in its own 90,000 square foot
facility, Outlook can create virtually any narrow-web
produced piece needed.
From single and continuous coupons, to dual-ply
OLYMPIA
Scented SOFTE 9x11
2
SHE
instant redemption coupons, the options are many,
with
including product labels, stickers, vinyl cards, point-of-sale
materials and game pieces. All of these items may be enhanced
by the use of scratch-off inks, sequential numbering, or custom
ink-jet printing which may be available upon request. We can
LANDOLAKES
even take it a step further by offering complete finishing
Deli
Meister
services, such as affixing cards and labels to forms.
Turkey
Pastrami
Smoke
Caramel
Coloring
Added
Outlook's sophisticated equipment allows us to print large
quantities in a number of colors, finishes and stocks - even
12 mil vinyl. The uses - and creative possibilities - are endless.
SKYBOX
SKYBOX
BASKETBALL CARDS 1990-91 SEASON 1990-91 SEASON
CARD CONVERTING
Inaugural
Edition
It's no surprise that the licensees of the NFL, NBA and Major
League Baseball chose Outlook Graphics to produce their
collectable sports cards. Outlook has a national reputation for
producing high quality multi-color cards, wraps and displays
in phenomenal quantities.
CARDS
What does that mean for you? Next time you have
a card converting job that requires quality printing,
critical collating expertise and eye-catching
packaging, remember Outlook Graphics.
Og
OUTLOOK GRAPHICS CORP.
1180 AMERICAN DRIVE
NEENAH, WISCONSIN 54956
414-722-2333
(FAX) 414-727-4787
OUTLOOK LABEL SYSTEMS
2411 INDUSTRIAL DRIVE
NEENAH, WISCONSIN 54957-0775
414-722-1666
(FAX) 414-722-0008
© 1990 Outlook Graphics Corp.
outlook graphics
DIRECT MAIL AND FULFILLMENT
Zaandam Wrapper
Kraft wrapping
Min. book size 3⁵/1₆" X 3¹/₈"
Max. book size 11³/₄" X 15" X 1½"
Six Kirk-Rudy Labelers
Seven Inserters (Inscerco)
Two 6-pocket
Four 8-pocket
One 4-pocket
Max. envelope size 6" X 9"
One Kirk-Rudy Stamp Affixer
Two Mastermailer Inserters (Inscerco)
6 pockets
Max. envelope size 9" X 12"
Two Pitney Bowes 6100 Meter/Stackers
Kirk-Rudy Tipper
Two Ritmica H30 High Speed Overwrappers
Length 45/8" to 15"
Width 4" to 12"
Height ¹/₁₆" to 1³/16"
In-line labeling capabilities
FMC WA 720 Overwrapper
Adjustable sizes
High-speed (production speed depends on type of product)
Singles, multiples, or trays
Length 1" to 36"
Width 5" to 8½"
Height ¹/₁₆" to 25/8"
Two Doboy SK Super Mustang Overwrappers
Adjustable sizes
High-speed (production speed depends on type of
product)
Singles, multiples, or trays
Length 4" to 15"
Width 5" to 8½"
Height up to 1/2"
Uniflow
Shrink tunnel
Adjustable sizes
Weldotron Shrink Wrapper
Max. size 14" X 32" x6"
Min. 50 gauge shrinkfilm up to 2-, 3- or 4-mil poly
Two Labelaire Pressure Sensitive Labelers
Cheshire Jetstream II Ink Jet Addressing System
BINDERY AND FINISHING
Herzog & Heymann Folder
3 units
28¹/₂" X 40"
Herzog & Heymann Pharmacy Folder
2 units
3/4" in each station
In-line glue attachment
Stahl Folder
3 units
20" X 24"
Stahl Folder
3 units
22" X 35"
Stahl Folder
3 units
26" X 40"
Dexter Lawson Drill
Max. size 9" X 20"
5-hole drilling
Dexter Lawson Automatic Drill
Max. size 10" X 15"
6-hole drilling
Hang Heavy-duty Drill
Max. size 19" X 25"
5-hole drilling
Challenge Drill
Harris Saddle Stitcher
6 pockets
Min. 35/16" X 5³/4"
Max. 11" X 17"
Cover feeder
Card feeder
Ten Polar 155 EMC Monitor Programmable Trimmers
61" bed
Fifteen Polar 137 EMC Monitor Programmable Trimmers
55" bed
Colly Collator
36 stations
Min. 4" X 6"
Max. 12¹/₂" X 18½"
Two Colly Collators
72 stations
Min. 4" X 6"
Max. 12¹/2" X 18½"
Ehlermann Adjustable Collator
21 stations
Min. size 11" X 17"
Max. 25" X 38"
Brackett Auto Padder
6 stations
Uchiba 2000 Batch Counter
Max. size 26" X 40"
Baum Burster
Length 3" to 28"
Width 3" to 18½¹/₂"
Graeber Whirlwind 185 Hang Tag Machine
Transamat 145 Off-loading System
Bourg Collator
53 stations
Min. 4" x6"
Max. 11" X 17"
Rollem Slipstream Slitter Collator
Max. sheet size 36" X 42"
Min. sheet size 18" 21"
Finished card size 2½" x3½"
DESKTOP PUBLISHING AND PRINT PRODUCTION
Three Desktop Workstations
Macintosh Quadra 900
Macintosh IIci
Macintosh LC
Software Applications
QuarkXPress 3.0
Pagemaker 4.2
Aldus Preprint 1.5
Photoshop 2.0
Adobe
Illustrator 3.2
Aldus Freehand 3.1
Microsoft Word 4.0
Misomex 726 Step and Repeat Machine
3 chase sizes: 32" X 32"; 16" X 20"; 11" X 14"
±.0004 repeatability
Film or plates
CARD CONVERTING
The equipment and production techniques of the Graphics Reproduction, Film Overwrapping, Folding Carton, and
Bindery and Finishing areas are used to provide complete card converting services.
S-3/REV. 3-92
outlook graphics
GRAPHICS REPRODUCTION
Heidelberg 102 FP+L CP Tronic 5-Color Perfector Press
283/8" X 40¹/₈"
Tower coater
Heidelberg 102 F CP Tronic 5-Color Press
28³/₈" X 40¹/₈"
Tower coater
Heidelberg 102 F CP Tronic 5-Color Press
28³/₈" X 40¹/₈"
Two Komori Lithrone 644 6-Color Presses
329/32" X 44½"
Tower coater
Komori Lithrone 640 6-Color Press
28¹¹/₃₂" X 40⁹/16"
Tower coater
Heidelberg 102 ZP 2-Color Perfector Press
28³/8" X 40¹/₈"
Heidelberg MO 6-Color Press
19" X 25½"
Infrared dryer
Heidelberg MO 2-Color Press
19" X 25½"
Halm Super Jet Envelope Perfector Press
2-color
12" X 18"
Heidelberg Cylinder Letterpress
22" X 30"
Heidelberg Windmill Letterpress
10" X 12"
Miehle Letterpress
12" X 18"
NON-HEAT SET WEB
Webcom 4-Color Press
17½" x22"
LABELS AND COUPONS
Mark Andy 4200
8-color
16"
Mark Andy 4120
8- color
16"
Mark Andy 2100
10- color
7"
Mark Andy 2100
6- color
7"
Mark Andy 2200
6- color
7"
Mark Andy 830
3- color
7"
Sanjo Rotary Letterpress
8-color plus varnish
10"
Arpeco Tracker 16"
Used for splitting, rewinding, counting, and final inspection
Arpeco Tracker 10"
Used for splitting, rewinding, counting, and final inspection
Tamarack Card Affixer
Communicator Card and Sheet Affixer
Willette Blow-on Label Applicator
LSI Blow-on Label Applicator
Auto-Labe Wipe-on Label Applicator
Quadrel Labeler
FILM OVERWRAPPING
Cleanroom facilities for food-grade packaging
Nine FMC WM-18 Synchroflo Wrappers
Production speed depends on type of product
Adjustable sizes
Six WS-18 Synchroflo Wrappers
Production speed depends on type of product
Adjustable sizes
Twenty-seven FMC WS-20 Servo Horizontal Wrappers
Four Model NBN Napkin Machines
Length 10" to 18"
Width 8" to 18"
Min. fold 1½ "x2"
Shipping and warehousing available upon request
FOLDING CARTONS
Maxson 64" Sheeter
Shaftless unwind
Bobst 1080E Die Cutter
Max. sheet size 40" X 28
Bobst 1120E Die Cutter
Max. sheet size 31½"2" X 44½"
Staude Gladiator Window Patch Gluing and Lining Machine
International Speed King Folder/Gluer
47"
Jagenberg Diana 115-3 Folder/Gluer
45"
Faustel Metal Tear Edger Series D
Blank max. 24"
Metal max. 18"
Jacob White Cartoner R-600
Length 1³/₄" to 7½"
Width 1" to 4"
Depth 4½" to 14"
Jacob White Cartoner R-615
Length 21/2" to 10"
Width 7/8" to 4"
Depth 35/8" to 11"
FOXCITIES
A
Produced by the
FOXCITIES
CHAMBER OF COMMERCE & INDUSTRY
In conjunction with the
FOX CITIES GROWTH ALLIANCE
227 S. Walnut, P.O. Box 1855
Appleton, WI 54913-1855
(414) 734-7101
Toll Free 1(800) 999-3224
LITTLE CHUTE
APPLETON
KAUKAUNA
COMBINED LOCKS
FOX RIVER
KIMBERLY
MENASHA
NEENAH
LAKE
-
WINNEBAGO
0
WINNERS.
FOX
CITIES
X
GREEN BA-
AW
MIDWALKEE
MASSON
CHCAGO
227 S. Walnut Street
FOXCITIES
227 S. Walnut Street
P.O. Box 1855
P.O. Box 1855
FOXCITIES
Appleton, WI 54913-1855
Appleton, WI 54913-1855
CHAMBER OF COMMERCE & INDUSTRY
Toll Free 1-800-999-3224
(414) 734-7101
FAX 414-734-7161
CHAMBER OF COMMERCE & INDUSTRY
Toll Free 1-800-999-3224
FAX (414) 734-7161
Gregory S. Hunt
Lynn R. Peters
Vice President
Director, Business-Education Partnerships
Economic Development
(414) 734-7101
Background Information on:
FOX VALLEY EDUCATION FOR EMPLOYMENT CONSORTIUM
Striving to Create Wisconsin's Finest Workforce
In 1985 Wisconsin's legislature enacted an "Education for Employment" standard,
requiring that each school district in the state refocus its mission by recognizing the
key role it plays in job preparation and economic development.
In 1988 a dozen Fox Valley area school districts banded together in and undertook
the project as a group. Together they set priorities and created the Fox Valley
Education for Employment Council to steer their efforts.
Today the Fox Valley Education for Employment (EFE) Council, made up of equal
numbers of business leaders and educators, is leading partnership efforts in the area,
and providing a model other organizations have sought to emulate.
Activities
Recognizing that educators need to know more about the world of work in order to
best help students, the Council put together an Externship Program which to date
has allowed 23 teachers to spend time in industrial settings. It has convinced area
companies to "share the wealth" when they do in-house training programs, and 85
educators have participated in such training programs at three different companies.
In an effort to help students, teachers and families to focus on and develop non-
academic employability skills, a Council task force has invested a year developing a
program called Job Readiness Rating. It is expected that half of the districts will
begin implementation of the program in the fall of 1992, with a goal of having all 12
districts involved by 1993.
The Council has hosted a Paper and Printing Symposium annually, bringing leaders
from these two major industries together with more than 500 students. The EFE
Council also agreed this spring to take on one of Wisconsin's three Youth
Apprenticeship Pilot Projects, and expects to have at least eight student
apprentices working in the printing industry in fall of 1992.
Relationship with the Fox Cities Chamber of Commerce
In 1990 the school districts involved in the Education for Employment Consortium
determined that their efforts would move much faster if they had someone to act as a
liaison between business and industry. The Fox Cities Chamber of Commerce
agreed to hire someone to do that, and provide that person's services to the districts
involved in the Consortium. In essence a member of the Chamber of Commerce staff
serves as director to the Consortium, guiding and directing its activities.
The Fox Valley Education for Employment Consortium's
YOUTH APPRENTICESHIP PILOT PROGRAM
PRINTING
Background
The Fox Valley Youth Apprenticeship pilot project is approved by the State of Wisconsin and
made possible by the Department of Public Instruction and the Department of Industry,
Labor and Human Relations. The project itself has been put together by the Fox Valley
Education for Employment Council which is affiliated with the Fox Cities Chamber of
Commerce and Industry.
Purpose
This pilot project offers Fox Valley students an opportunity for an entirely different kind of
education and at the same time provides a model Youth Apprenticeship Program which can be
emulated by other communities. The foundation of economic life in the Fox Cities since the
mid-1800s has been the paper industry and its allied industries. The apprenticeship
program is designed for the printing industry. Printing is one of the elements in the
manufacturing sector that is thriving in and integral to the area.
How The Program Works
Students from all 12 school districts participating in the Education for Employment
Consortium may apply. Applicants must be starting their junior year of high school.
Students are interviewed by participating companies. Those selected begin their youth
apprenticeships in the fall.
Youth Apprentices will spend three days a week working in the printing industry and
two days in classes. They will take both required courses and specialized courses in
printing.
Each Youth Apprentice will receive a high school diploma and Certificate of
Occupational Proficiency. With these two documents, the student will then be able to go
directly to work in industry, to participate in a registered apprecticeship, to pursue an
associate degree from a Wisconsin technical college, or to apply to a four-year
university.
Youth Apprentices will be paid for time spent working and learning at an area
printing company.
Youth Apprentices will be offered the opportunity to visit Germany in an exchange
program sponsored by CDS International (formerly the Carl Duesenburg Society).
Consortium Members
Reprentatives from the following school districts work with business leaders in the Fox
Valley Education for Employment Consortium: Appleton, Freedom, Hilbert, Hortonville,
Kaukauna, Little Chute, Manawa, Menasha, Neenah, Omro, Shiocton and Winneconne.
ECONOMIC PROFILE
APPLETON/ FOX CITIES
WISCONSIN
The Fox Cities is one of the largest and
sprang up along the banks of the Fox
fastest growing metropolitan areas in
River in the 1800s, and have continued to
Wisconsin. With a population of more
attract people and businesses ever since.
than 170,000, the Fox Cities area is
Many of the nation's leading paper
comprised of 11 municipalities-four
companies were started in the Fox Cities,
cities, three villages and four towns.
and their development has paralleled the
area's growth and diversification.
In 1991, more than $604 million worth of
commercial and industrial projects were
Today, in addition to the paper industry,
either announced or completed in the Fox
companies engaged in plastics, printing
Cities. These projects will ultimately
and graphic arts, machinery, metals and
create more than 3,000 new jobs. Related
electronics are all thriving elements of the
signs of new residential construction are
Fox Cities manufacturing sector. Due to
everywhere and the area leads the state in
Fox Cities
the area's highly-educated work force,
land valuation growth.
service industries flourish in the area, too.
Six insurance companies as well as a host
Fortune magazine recently listed the
WISCONSIN
of financial institutions call the Fox Cities
Appleton/Fox Cities market as one of six
home.
mid-sized markets most conducive for
companies thinking about a move and an
The Fox Cities area promotes itself as "A
attractive locale in which to do business.
Refreshing Change of Place" to under-
score the fact that the Fox Cities has many
Opportunity and quality of life attracted
of the fine qualities which businesses and
people to the Fox Cities when paper mills
families look for in selecting a new
location.
POPULATION
1980
1990
Percent
Community
Census
Census
Change
Change
Fox Cities-Oshkosh MSA
291,369
317,658
26,289
9.0%
Outagamie County
128,730
140,510
11,778
9.1%
Winnebago County
131,772
140,320
8,550
6.5%
Calumet County
30,867
34,291
3,424
11.1%
Fox Cities Urban Area
155,034
171,147
16,113
10.4%
City of Appleton
58,915
65,695
6,780
11.5%
City of Neenah
22,432
23,219
1,787
3.5%
City of Menasha
14,744
14,711
-33
-0.2%
City of Kaukauna
11,310
11,982
1,672
5.9%
CLIMATE
The average season temperatures:
Spring
44° F
The Fox Cities area enjoys a continental climate characterized by
Summer
70° F
four distinct seasons, affording residents and visitors excellent
Fall
40° F
opportunities for diverse outdoor recreational activities.
Winter
19° F
Average annual rainfall
28 inches
Average annual snowfall
46 inches
EMPLOYMENT
Transportation/
Public Utilities
Government
3.9%
11.1%
Total Trade
Construction &
21.6%
Mining 4.7%
Appleton-Oshkosh-Neenah
Number of
MSA Annual Non-Farm
Employees
Employment Averages-1990
1990
Manufacturing
53,800
Services
32,900
Retail Trade
28,100
Finance,
Transportation & Utilities
6,300
Ins. &
Wholesale Trade
6,500
Real Estate
Finance, Insurance & Real Estate
7,700
4.8%
Construction & Mining
7,600
Government
17,800
Services
Manufacturing
20.5%
33.5%
MAJOR EMPLOYERS
Number
Firm
Product or Service
Employees
Kimberly-Clark Corporation
Tissue products for personal care
5,300
Appleton Papers Inc.
Carbonless and specialty coated papers
2,700
Novus Health Group
Health care providers
2,400
Miller Electric Mfg. Co.
Electric arc welders
1,550
Menasha Corporation
Corrugated containers
1,500
Wisconsin Tissue Mills
Paper napkins, table covers, etc.
1,450
Plexus Corp & Affiliates
Electronic design, manufacturing & testing
1,400
Thilmany
Specialty papers
1,372
Aid Association for Lutherans
Fraternal benefits and financial services
1,354
Outagamie County
County government
1,334
St. Elizabeth Hospital
Hospital
1,316
Appleton Area School District
Education
1,254
Neenah Foundry Company
Gray and ductile iron castings
1,220
American National Can Company
Packaging cartons and wraps
1,200
Repap Wisconsin Inc.
Specialty Papers
1,100
Pierce Manufacturing, Inc.
Fire and utility truck bodies
1,100
1991 Estimates of Local Employment
AVERAGE HOURLY WAGE RATES
Appleton-Oshkosh-Neenah MSA-1990
Educational Attainment-1987
Secretaries
$7.78
Grade School or less
3%
Word Processors
7.76
Some High School
5%
Data Entry Operators
6.67
High School
90%
Accounting Clerks
7.43
Tech School Graduate
8%
Payroll Clerks
7.67
Some College
15%
File Clerks
5.63
College Graduate
11%
Order Clerks
7.75
Post Graduate
4%
Receptionists
6.27
Computer Systems Analysts
14.42
The average annual high school dropout rate for the Fox Cities-
Computer Programmers
12.14
Oshkosh MSA is less than 2 percent.
Computer Operators
7.97
2
EDUCATION
Educational resources in the Fox Cities are among the finest in the country. Area students consistently exceed the national and
state averages in measure of performance. This is significant as Wisconsin is consistently one of the top five states in scoring on the
national ACT test score averages. The U.S. Department of Education has repeatedly recognized area schools for their scholastic
excellence.
The following post-secondary educational
Number of K-12 Public & Private Schools
facilities serve the Fox Cities:
Public
Parochial
Average
Colleges and Universities
Annual Enrollment
Schools
Schools
Lawrence University, Appleton
1,200
Elementary
40
37
St. Norbert College, De Pere
1,800
Junior High
9
2
University of Wisconsin
High School
8
3
Campus in Oshkosh
11,200
Total Enrollment 44,000
5,800
Campus in Green Bay
5,500
Center in Menasha
1,500
Technical and Vocational
Standardized Test Results
Based on mean scores reported in the nation, Wisconsin students
Fox Valley Technical College
5,000
ranked first on the American College Test (ACT) during the
Ranks among top three voc/ed schools
1988-89 testing period.
in the nation according to American Vocational
Association
TRANSPORTATION
Air Service
Trucking
Located just two miles west of Appleton, the Outagamie County
More than 60 trucking and warehousing firms serve the Fox
Airport is a Class A airport approved for jet operation and
Cities area.
provides a full contingent of passenger, charter flight, and repair
Rail Service
services. It is one of the fastest-growing airports in Wisconsin.
Rail freight service is provided by Fox River Valley Railroad and
Four commercial airlines provide non-stop service to Chicago,
Wisconsin Central Limited Line.
Cincinnati, Milwaukee and Minneapolis. Overnight, express
Public Transit
parcel, air freight services and facilities for private aircraft also
are available at the airport. Wittman Field in Oshkosh and Austin
Valley Transit provides local and inter-city commuter service to
Straubel Field in Green Bay provide additional commercial air
residents of the Fox Cities metropolitan area. Inter-regional bus
service within 30 miles of Appleton.
service is available via Greyhound Bus Lines and Wisconsin
Highways
Michigan Trailways. Special elderly and handicapped services
also are available.
Transportation in and around the Fox Cities is fast and efficient.
Water Transportation Facilities
In fact, the area has been ranked in the top 10 communities
nationally having the shortest commuting times to and from
The Port of Green Bay, 30 miles to the north, and the Port of
work. The average travel time to work for city residents is 14.6
Milwaukee, 100 miles south of Appleton, provide easy access to
minutes. Main thoroughfares include U.S. Highways 10, 41 and
the Great Lakes. Both ports handle general cargo, heavy
45. Secondary passages are State Highways 47, 55, 76, 96, 114
industrianery and equipment, and liquid and dry bulk cargoes.
and 441.
Truck and rail services link the Fox Cities to these ports.
UTILITIES/SERVICES
Electric Utilities
Gas Utilities
groundwater wells.
Three electric utilities-Wisconsin
Two gas utilities-Wisconsin Natural Gas
Sewage Treatment
Electric Power Company, Menasha Water
and Wisconsin Gas Company-provide
Four sewage treatment plants serve the
& Electric Utilities, and Kaukauna
ample and reliable supply of natural gas to
area. All four plants treat activated sludge
Electric & Water Department-provide
the Fox Cities.
and use agricultural land spreading as their
electric service to the area. Area electric
Water Supply
method of disposal. Adequate capacity is
rates are approximately 30% below
Sources of high-quality, fresh water are
available for new industry.
those in most metropolitan areas.
abundant in the Fox Cities. Water
supplied by publicly-owned water utilities
is drawn from Lake Winnebago or from
COMMUNICATIONS
Companies are looking to Wisconsin
Telecommunications
exchange Point of Presence in Appleton.
because of its pro-business climate; central
Wisconsin Bell (a subsidiary of
Fiber Optics
time zone location; extensive deployment
Ameritech) provides local and intra-state
Fiber optic cable is rapidly being deployed
of digital and fiber optic technologies, and
phone service utilizing analog, digital and
in the Fox Cities. For instance, Wisconsin
a well-educated, highly-productive
fiber optic equipment. AT&T, MCI, US
Bell has more than 45 miles of fiber optic
workforce which speaks in a clear, easily-
Sprint and 20 other interchange carriers
cable in the area. Norlight Telecommuni-
understood manner.
provide long distance service. In addition,
cations also serves the Fox Cities and has
AT&T, MCI and US Sprint have an inter-
a Point of Presence in Appleton.
GOVERNMENT / DEVELOPMENT INCENTIVES
Government
Each of the three counties has an elected
business. These efforts have resulted in
Fund (Major Economic Development
county executive and board of supervisors.
Wisconsin businesses having one of the
Program, Customized Labor Training
The four cities-Appleton, Neenah,
lowest total tax burdens in the
Fund, Technology Development Fund)
Menasha and Kaukauna-have elected
nation. Wisconsin state taxes include a
and other specialized programs. Local
mayors and city councils. Other incorpo-
corporate income tax of 7.9%, individual
Programs: Well-educated, highly-skilled
rated areas are called villages and have
income tax ranging from 4.9% to 6.93%,
work force that is up to 30 percent more
elected village presidents and boards of
(a 60% capital gains exemption is avail-
productive than the national average, 11
trustees. Unincorporated areas are known
able), retail sales tax of 5%, and gasoline
inexpensive business parks ($18,000 per
as towns and have elected town chairmen
tax of 20 cents per gallon. Local property
acre average) with highway access,
and boards of supervisors.
tax rates (per $1,000 of assessed value)
subsidized employee recruitment &
Taxes
range between $26.18 and $33.06 and
training, IRBs, Tax Incremental Financing
In recent years, Wisconsin has made
average $30.39.
as well as site/building location &
numerous positive tax changes affecting
Development Incentives
selection assistance.
State Programs: Wisconsin Development
COST OF LIVING
Paychecks go farther in the Fox Cities
computed by the American Chamber of
Cities is well below the national average.
since the area boasts a very affordable cost
Commerce Researcher's Association
The average sale price of a house in the
of living. In fact, the composite index
indicates that the cost of living in the Fox
Fox Cities is under $75,000.
HEALTH CARE
Four area hosptials-Appleton Medical
combined capacity of nearly 1,000 beds
more than 350 physicians and nearly 130
Center, Kaukauna Community Hospital,
and offer a complete range of high-quality
dentists. In a recent study, the Fox Cities
St. Elizabeth Hospital, and Theda Clark
health care programs and facilities. The
ranked among the least expensive regions
Regional Medical Center-have a
Fox Cities health care network includes
in the U.S. for hospital and physician care.
QUALITY OF LIFE
The Fox Cities offer numerous high-
ping, minor league baseball, community
boating facilities along one of the nation's
quality golf courses, fascinating museums,
festivals, greyhound and stock car racing,
largest, inland, fresh water lakes.
live and movie theaters, abundant shop-
state park, nature preserves and many
FOR MORE INFORMATION
To learn more about the advantages of a Fox Cities business location, please contact:
FOXCITIES
CHAMBER OF COMMERCE & INDUSTRY
Greg Hunt, Vice President
Economic Development
Phone
227 S. Walnut Street, P.O. Box 1855
414-734-7101 FAX 414 734-7161
Appleton, WI 54913-1855
800-999-3224
CITIES/COVER STORIES
THE BEST CITIES
FOR BUSINESS
Finding skilled, reliable employees may be companies' most important challenge in the Nineties.
Here are the sometimes surprising places to look for America's top workers.
by Patricia Sellers
THE ALLURE OF SMALLER CITIES
Companies shopping for locations
Cost concerns also prompt companies to
should consider a lesson car buyers
go to midsize cities like Wichita (493,251),
learned years ago: Small to midsize models
where white-collar salaries average just over
often do the job more efficiently than bigger,
$19,000 a year, vs. the U.S. average of $25,326.
better-known alternatives. As growth of the
Fort Myers (332,903), Albuquerque (509,950),
labor force slows and the need for quality
and Colorado Springs (409,193) are all grow-
workers intensifies, more companies will
ing fast and offer ample labor. Fort Myers is
place operations in smaller cities. Among
diversifying its tourism-based economy; with
those that caught Fortune's attention: Al-
a large elderly population and low wages, it
buquerque, New Mexico; Appleton, Wis-
seems attractive for back-office operations.
consin; Colorado Springs, Colorado; Fort
Companies in small areas where the qual-
Myers, Floria; Spokane, Washington; and
ity of life is high and the stress level low enjoy
Wischita, Kansas.
a stable work force. Neil Davenport, CEO of
Moran Stahl & Boyer surveys reveal
Cray Computer in Colorado Springs, says,
that the overall quality and productivity of
"We find that people often would rather stay
employees in these cities is significantly
in Colorado Springs than move to advance
higher than in large cities, partly because
their careers--which at times strikes me as
of superior school systems. In Spokane
odd." Smaller cities often earn high marks
(metropolitan area. population: 363,078),
for employees' work ethics. In Appleton
schools are among the best in a state noted for
(317,429) absenteeism is markedly low--
exemplary education.
and when Wisconsin's daunting winter sets
in, employees have been known to go to
work on snowmobiles. -Antony J. Michels
Reprinted from Fortune
October 22, 1990
"REFRESHING
(414) 734-3358
Appleton, WI 54915
110 Fox River Drive
and Visitors Bureau
Fox Cities Convention
m
CHANGE/PLACE
Fox Cities
Fox Cities
Fox Cities Convention
and Visitors Bureau
110 Fox River Drive
Appleton, WI 54915
(414) 734-3358
Wisconsin
You're Among Friends
G
et ready for a refreshing change of place in
filled with the grand homes of other former paper
CLASSIC ARTS DINNER THEATRE in Appleton is a
the Fox Cities of east central Wisconsin -the
industrialists, as well as two beautiful parks along
great place for an afternoon or evening of comedy,
perfect getaway! Located along the picturesque Fox
the Fox River.
music and fun.
River, this cluster of communities pampers visitors
On the banks of the Fox River are two of the
For shoppers, the Fox Cities offers many options.
with a variety of unique museums and shopping
most historic homes in the state, both of which you
THE FOX RIVER MALL is one of the state's largest
areas, wonderful restaurants and great hotels and
will want to tour. HEARTHSTONE MANOR in
malls. DOWNTOWN NEENAH and APPLETON are
motels. You'll find lots to see and do in the Fox
Appleton is the world's first home lit by a central
filled with unique, one-of-a-kind specialty shops
Cities!
hydro-electric station. Its electrical system was
and special malls of their own. Bargain hunters will
Your visit to the Fox Cities will be a magical
installed by Edison's staff, and its fireplaces are
delight in the area's varied factory outlet stores.
experience. The world famous magician/escape
outlined in rare Minton tiles. The GRIGNON
For outdoor activities, you'll find a number of
artist Harry Houdini grew up in Appleton. The
MANSION in Kaukauna, built at the site of an early
challenging golf courses in the Fox Cities, public
HOUDINI HISTORICAL CENTER inside the
trading post, will give you a look at life when the
tennis courts, and great hiking trails, especially
OUTAGAMIE MUSEUM houses a large collection of
first settlers arrived in the Fox Cities.
those at the THOUSAND ISLANDS ENVIRON-
Houdini memorabilia. The museum features the
FOX VALLEY GREYHOUND PARK, the Fox Cities'
MENTAL CENTER in Kaukauna and the GORDON
Fox Cities' industrial history, including
newest attraction, features exciting year-round
BUBOLZ NATURE PRESERVE outside Appleton.
papermaking, the largest area industry. Houdini is
greyhound racing. Kaukauna is also home to
Lake Winnebago and the Fox River are known for
further remembered in Appleton's HOUDINI
WISCONSIN INTERNATIONAL RACEWAY, with
great fishing and boating. Each community has a
PLAZA and its sculpture Metamorphosis which
thrilling stock car and drag races during the spring
number of beautiful parks for family outings.
depicts Houdini's most famous escape.
and summer. The
With all there is to do in the Fox Cities, you'll
No visit to the Fox Cities would be complete
APPLETON FOXES, a
want to stay a while. We have 23 hotels and motels
without a stop at the BERGSTROM-MAHLER
class A farm team of
offering everything from budget to full-service
MUSEUM in Neenah. It houses one of the world's
the Kansas City Royals,
accommodations. None is more than a short drive
largest and finest collections of glass paperweights.
play at Goodland
from any of our attractions.
The museum itself is a work of art, housed in the
Field from April-
The Fox Cities
for a refreshing change of
beautiful old mansion of one of the early paper
September with all the
place. Friendliness, excitement, unique things to
barons. The neighborhood around the museum is
excitement of major
see and do
the perfect combination for a
league baseball at half
relaxing and memorable getaway.
the price.
Plan to spend some
time in Lawrence
University's WRISTON ART CENTER or the AGA-
CENTER FOR VISUAL ARTS, two of many art
galleries scattered throughout the Fox Cities. The
$250
REWARD:
POINTS OF INTEREST
Bergstrom-Mahler
Houses one of the largest and
Planetarium
The stars and skies recreated for
Museum
finest glass paperweight
U.W. Fox Valley
your entertainment and
collections in the world.
education.
165 North Park Avenue,
1478 Midway Road,
Neenah. 751-4658
Menasha. 832-2600
LYNNDALE
Bubolz Nature
Hiking and cross-country ski
Simon's Specialty
You can see Wisconsin cheese
Preserve
trails, planned activities.
Cheese
being made. Sample and buy.
5
4815 North Lynndale,
Picnic tables.
Appleton. 731-6041
1 block North of Hwy. 41 on N,
GREENVINE
00
11
Little Chute. 788-6311
NORTHLAND
Children's Farm
3
Young farm animals in a lovely
76
park setting. Open May to
Thousand Islands
Hiking, canoeing and other
ONEIDA
APPLE
September.
Environmental
nature activities, all within view
WISCONSIN
Plamann Park,
Center
of the Fox River.
TWO-MILE ROAD
96
10
WISCONSIN
Appleton. 733-3019
Dodge Street,
19
10
Kaukauna. 766-4733
BADGER
Classic Arts
Musical plays and original
125
CA
COLLEGE
COLLEGE
Dinner Theatre
revues, along with dinner
Vande Walle's
See chocolates and pastries
14
18
served right in the theatre.
Candies
being made. Plenty to taste and
41
OUTAGAMIE
110 Nicolet Road,
buy.
COUNTY
Appleton. 734-2787
400 North Mall Drive,
AIRPORT
BB
SEY
MOUR
Appleton. 738-7799
Fox Valley
Exciting greyhound racing
PROSPECT
20
VALLEY
5
Greyhound Park
with matinee and evening
Wisconsin
Stock car and drag racing from
racing. Clubhouse dining and
International
DRIVE
47
April to September.
12
snack bars.
Raceway
Hwy. K,
MIDWAY
Hwy. 41 & 55,
Kaukauna. 766-5577
World's First Hydro-
Authentic reproduction of the
IRISH ROAD
15
MENASHA
ONEIDA
Kaukauna. 766-RACE
441
Goodland Field
Appleton Foxes
1500 West Spencer Street,
Vulcan Street,
Appleton. 733-4152
150
WINCHESTER
Grignon Mansion
Historically preserved home of
ROAD
LITTLE DES MORTS
ETON
Catch the fun! Kansas City
Electric Central
small electric station near the
6
Royals farm club baseball.
Station
original Fox River site.
AMERICAN
RACINE
10
PLANK
BUTTE
114
Appleton.
MAIN
LAK
Wriston Art Center
Distinguished by its glass walls
7
Charles Grignon, fur-trader.
and turrets, fanciful curves and
MAIN
1313 Augustine Street,
curls, and recessed
150
Kaukauna. 766-3122
amphitheatre, this whimsical
GREEN
TH
structure houses fine art and
Hearthstone
8
World's first hydro-electrically
student exhibits.
CONNE
NEENAH
lit home. Fascinating
Lawrence University Campus,
CECIL
architecture and antiques.
Appleton. 832-6621
625 West Prospect Avenue,
Appleton. 730-8204
114
COMMERCIAL
*
Fox Cities Visitors Center
8
Houdini Walking
Learn about Harry Houdini's
9
110 Fox River Drive, Appleton. 734-3358
Tour
life in Appleton. Starts at
BREEZEWOOD
BELL
Houdini Plaza.
100 West College Avenue,
Appleton.
While you're here, be
Lawrence
A beautiful campus situated on
12
sure to call the
University
the Fox River.
East College Avenue,
Appleton. 832-7000
Fox Cities Fun Line
Outagamie Museum/Historical museum featuring
(evenings & weekends)
Houdini Historical Houdini and papermaking
Center
exhibits.
734-3358
330 East College Avenue,
for event information
Appleton. 735-9370
ACCOMMODATIONS
1
Woodfield Suites
3730 W. College Ave.
R, IP,
21
Budgetel Inn
3920 W. College Ave.
R, OP, M
Appleton. 734-9231
OP, M
Appleton. 734-6070
55
2
REEDOM
Valley Inn
105 Walnut St.
R,C,M
22
Bloomer's Motel
2603 N. Richmond St.
R
BALLARD
41
Neenah. 725-8441
Appleton. 739-3189
3
Twin City Motel
375 S. Green Bay Rd.
23
Amora Villa
200 N. Perkins St.
R, IP,M
41
96
Neenah. 725-3941
Motor Lodge
Appleton. 735-2733
LITTLE CHUTE
4
Super 8 Motel
3624 W. College Ave.
24 American
1032 S. Westland Dr.
NORTH
Appleton. 731-0880
Motor Inn
Appleton. 733-7351
MAIN
DRAPER
ON
96
5
Snug Inn
3437 N. Richmond St.
KIMBERLY
FOX RIVER
Appleton. 739-7316
R Restaurant
IP Pool, indoor
KIMBERLY
KAUKAUNA
M Meeting Room
OP Pool, outdoor
COMBINED
6
Road Star Inn
3623 W. College Ave.
C Convention Facilities
LOCKS
NEWBERRY
WASHINGTON
CROOKS
Appleton. 731-5271
If you need additional information about any of these
motels/hotels call the Fox Cities Convention and Visitors Bureau
CE
7
Queen Anne
837 E. College Ave.
(414) 734-3358.
JOHN
Bed & Breakfast
Appleton. 739-7966
KK
8
Parkway Motel
1181 Gillingham Rd.
OP
CALUMET
Neenah. 725-3244
55
9
Paper Valley
333 W. College Ave.
R, IP, C, M
Hotel &
Appleton. 733-8000
ANNUAL EVENTS
Conference
Center
10
10
Northland Motel
138 E. Northland Ave.
February
Icescape Winter Festival
114
Appleton. 739-8847
March
St. Patrick's Day Parade
11
Northern Inn
420 W. Northland Ave.
Appleton. 733-4936
May
Menasha Riverfest
WINNEBAGO
Spring Fur Trade Event
12
Norm's Motel
1403 Green Valley Rd.
The Great Wisconsin Cheese Festival
Neenah. 725-6984
June
Kaukauna River Jam
FOX CITIES
13
Midway Motor
3033 W. College Ave.
R, IP, M
America's Largest Flag Day Parade
Lodge
Appleton. 731-4141
114
(Best Western)
July
Appleton Auto and Swap Show
Neenah-Menasha Communityfest
14
Holiday Inn
150 Nicolet Rd.
R, IP, C, M
of Appleton
Appleton. 735-9955
August
AGA Art in the Park
Otto Grunski Polski Festyn
15
Fox Valley Inn
2000 Holly Rd.
R,M
Civil War Encampment
Neenah, 734-9872
September
Kermis Dutch Festival
16
Fox City Motel
632 Hyland Ave.
55
Kaukauna. 766-3731
October
Octoberfest
17
Exel Inn
210 N. Westhill Blvd.
November
Christmas Parade
Appleton. 733-5551
Wonderland of Trees
18
Dreamland Motel
918 S. Westland Dr.
December
Victorian Christmas, Hearthstone
Appleton. 733-3577
Candlelight Tours, Grignon Mansion
19
Comfort Suites
3809 W. Wisconsin Ave. IP, M
Appleton. 730-3800
20
Colonial Inn
3913 W. Prospect Ave.
IP, M
Appleton. 730-8447
T b e
Fox Cities
here is a time and a place.
Now is the time.
This is the place!
The Fox Cities
2
THE FOX CITIES
5
LOCATION
7
BUSINESS & INDUSTRY
10
PLAYING HOST
13
LIFESTYLES
17
EDUCATION
18
CULTURAL ENRICHMENT
This is a Profile Publication
created and produced for the
FOX CITIES CHAMBER OF
COMMERCE AND INDUSTRY.
21
P.O. Box 1855
HEALTH CARE
Appleton, WI 54913-1855
Copyright © 1992
by Profile Publications, Inc.
22
P.O. Box 436
Crystal Lake, IL 60014
RECREATION
Acknowledgments:
APPLE STUDIO LTD.
25
R.A. Ballin Photography
FOX CITIES FACTS
David Anthony, Photography
Carol Kropidlowski, Photographer
Printed by Master Litho
1
The Fox Cities
ver the years, major publi-
cations including For-
tune magazine have
given national credence to the
claim that there is no more inviting place
than the Fox Cities to live, work, and
raise a family.
The communities along the Fox - the
cities of Appleton, Neenah, Menasha,
Kaukauna, the villages of Little Chute,
Kimberly, and Combined Locks, and the
towns of Neenah, Menasha, Grand Chute,
and Greenville — give homage to the
Fox River, paper, and progress. They
share a common heritage in the Fox
River. Paper is the center of their his-
tories.
Together, they share a total population
of 175,000, the fourth largest population
center in Wisconsin. The Metropolitan
Statistical Area (MSA) of which the Fox
Cities is a part, encompasses over
315,000 people; Appleton is the largest
community with over 66,000 residents.
As a community, these municipalities
provide convenience and amentities
associated with urban life yet maintain
small town charm.
While each of the 11 communities
exhibits a unique character, all attest to
these facts: Affordable homes are plenti-
ful. School systems, whether public or
parochial, share a common theme of ex-
cellence. Shopping is abundant and con-
venient. Expert medical care is close at
hand. A broad array of leisure time ac-
tivities, from concerts and art exhibits to
boating and ice fishing, is ever present.
These definitive assets combine with a
substantial industrial base, ranging from
mighty international companies to small,
locally-owned enterprises, from high-
tech to traditional.
Inviting? Come visit the Fox Cities.
Come packed to stay.
2
the
Location
T Winnebago and rapidly flows
he Fox Cities area is
located in east central Wis-
where the Fox River exits
north toward the open waters of Green
Bay and on to the Great Lakes.
Transportation makes the area a
strategic place for business and industry.
A superb network of expanding major
U.S., state, and local highways make
travel and shipping to major metropoli-
tan centers easy and efficient. More than
60 motor freight carriers and an en-
hanced rail system service the area. A
Great Lakes port is within 40 miles of the
Fox Cities.
Outagamie County Airport, the nearest
of three airports within 30 miles, offers
commercial passenger, charter and
freight service to the nation. Its pas-
senger operations are the fastest growing
in Wisconsin. The airport is home to Air
Wisconsin, the largest regional airline in
the nation.
Valley Transit provides inter-commu-
nity bus transportation, allowing resi-
dents a commuting option from home to
The Fox Cities
The Center of it All
Lake Superior
MINNESOTA
WISCONSIN
1
Lake
FOX
Huron
CITIES
2
3
Lake
MICHIGAN
Michigan
Lake
Erie
4
IOWA
INDIANA
Hours to Fox Cities by Car
ILLINOIS
1
MINNEAPOLIS/ST. PAUL
5.5
2
MADISON
1.5
3
MILWAUKEE
1.5
4
CHICAGO
3
5
Business & Industry
ince late in the last
century, paper has
been the dominant indus-
try in the Fox Cities area.
While paper continues strong, rep-
resented by such well-known names as
Kimberly-Clark and James River Corpora-
tion, the area's industrial base has
widened broadly to encompass plastics,
high-tech, electronics, food processing,
and machinery. Insurance is one of the
principal service industries in the Fox
Cities area.
The area has 11 industrial and busi-
ness parks totaling more than 1,500
acres. Fully developed and affordably
priced land is available for new or ex-
panding firms.
Products originating in the Fox Cities
area include paper and paper-related
products, printing and graphic arts,
marine cranes, machine tools, and non-
ferrous metal castings. Others are com-
puter battery backup systems, batteries,
wire mesh, watermark designs, chemi-
cals, farm implements, plastic shrink
wrap, stainless and carbon steel pipe,
and food processing. In addition there
are industrial valves, inks, health care
products, varnishes and stains, electronic
automation products, wood products, arc
welders, and fire and utility truck bodies.
The Fox Cities is a dynamic place of
industrial diversity.
continued
7
Business & Industry
T continue to grow in the
he entrepreneurial
spirit flourishes in the Fox
Cities. New small business
service, manufacturing and retail seg-
ments of the business community.
State-of-the-art technology has enabled
small business people to enter and
compete in the marketplace. Large
companies ranging from heavy maufac-
turing to service industries are upgrad-
DAYTONS
ing facilities with new technology and
better-tooled equipment, enabling them
to produce even higher quality products
in less time at a lower cost.
The retail sector of the community
offers a fine mix of merchandise from
upscale fashions to quality goods at
affordable prices.
MARKETPLACE
The area boasts not only one of the
country's first enclosed shopping cen-
ters-Valley Fair Mall on the boundary
between Appleton and Menasha - but
also one of the state's largest shopping
malls - Fox River Mall. This complex,
GILTEDGE
encompassing more than 1.1 million
square feet of space, hosts five anchor
stores and more than 160 other retail
shops. Among the anchors is an elegant
Dayton's department store, which high-
lights a new wing offering high-end
fashions, novelty and personal care
stores.
Retail opportunities abound in each
of the communities of the Fox Cities.
Several downtowns have renovated
historic facades and capitalized on their
ethnic backgrounds to offer a unique
shopping atmosphere. Locally made
products can be found in outlet stores
and specialty shops.
Quality and unique products abound
in the Fox Cities.
8
BUILT
Playing Host
he Fox Cities wel-
comes visitors and business
travelers with more than
1,600 modern hotel and motel
rooms and ample meeting facilities for
mid-size conventions.
Each of the Fox Cities boasts a prosper-
ous downtown business district. And
whether you prefer to shop in the central
business district or in the spaciousness of
an enclosed mall, you will find retail mar-
ketplaces to suit your needs.
History is at home in the Fox Cities -
at home in the restored mansions of
pioneering fur traders, paper barons and
captains of industry, all open to the
public. Twelve local museums have signifi-
cant art and historical collections.
Colorful, "tasteful" celebrations of local
ethnic heritage offer local residents and
visitors alike an opportunity to enjoy the
music, costumes, traditions and favorite
dishes of the nationalities who settled the
Fox Cities. Festivals, parades and other
community events abound here.
The Fox Cities is a perfect spot to spend
a weekend getaway. Time it right, and you
may be able to watch marathoners stride
past your hotel. Or stand aside as a pack
of speeding bicyclists compete in chal-
lenge cup and charitable races. You can
!OHNSBUR
be a spectator or a participant in any
number of sporting events in the Fox
Cities.
Cap off your visit with dinner at any of
the many fine restaurants specializing in
everything from ethnic cuisine to fast
food. Take in a movie at one of the five
theater complexes with a total of 18
screens. Five additional area theaters fea-
ture live performances, including dinner
theater.
The pleasures of the Fox Cities are
myriad.
10
ALL
LISH
L
Lifestyles
he Fox Cities is one
of the fastest growing
urban areas in Wisconsin
and boasts a cost of living which
is below the national average.
Quality, affordable housing is one of
the Fox Cities many attractions. The
home building market is steady and
strong - the area's stable economy tradi-
tionally does not feel the ups and downs
of real estate trends experienced by
other parts of the country.
The homes of the Fox Cities range
from turn-of-the-century Victorian man-
sions to spacious modern homes, from
high-rise condominiums to apartment
complexes with recreational amenities.
Included are well-kept homes along
tree-lined streets and sprawling country
estates. There are riverside and lakefront
AND
homes and those which are tucked
alongside golf course fairways.
continued
13
Lifestyles
R
esidents feel at home
in the Fox Cities.
Families occupy mod-
erately priced as well as
executive homes enjoying the small-town
atmosphere that enables them to feel
comfortable to relax and play in the
parks, recreational facilities and water-
ways that can be found in most neighbor-
hoods. Children play freely along the
sidewalks and in the playgrounds. The
area enjoys one of the ten lowest rates of
violent crime in the country.
Home is never a long drive from the
workplace. The Fox Cities have one of the
10 shortest commuting times to and from
work. Residents have their choice of in-
town convenience and neighborliness,
or the tranquility of country living as
near as the outskirts of town.
Career-minded residents find that airy
condominiums and townhouses right in
the heart of the cities are convenient,
have character and keep residents acces-
sible to business, shopping and recrea-
tional facilities. Revitalization of historic
pockets of the cities are creating innova-
tive riverfront housing.
In the Fox Cities, there is a place to
call home for everyone.
14
Education
he six public school
systems of the Fox Cities
are national award win-
ners, demonstrating exceptional
skills in all aspects of education.
Five public and parochial schools in
Menasha and Neenah have received
national Excellence in Education awards,
and seven others have been similarly
recognized by the State of Wisconsin.
-The Appleton Area School District
earned an "Excellence in Education"
award from the Wisconsin Manufacturers
and Commerce organization for its Staff
Development - Professional Educator
Institutes.
-Little Chute Area School District's
middle school was the first area school
to receive the federal "Drug Free School"
designation.
Appleton's Lawrence University, char-
tered in 1847, heads the list of the Fox
Cities area's five institutions of higher
learning.
Lawrence is ranked among the nation's
best small, private liberal arts colleges.
Lawrence offers Bachelor of Arts degrees
in 25 majors, including the Bachelor of
Music degree awarded by its Conserva-
tory of Music. An important conduit
bringing renowned classical and jazz per-
formances to the area, Lawrence now
also boasts the new Wriston Arts Center.
MENASHA
The University of Wisconsin - Fox Val-
ley, located in Menasha, is a gateway cam-
pus for the state university system and
serves more than 1,500 students on a
recently expanded metro campus.
Fox Valley Technical College, ranked
among the three top vocational-technical
schools in the nation, has an enrollment
of about 5,000 full-time students and
offers more than 55 programs in 15
career specialties.
17
Cultural Enrichment
he arts are alive and
well in the Fox Cities, re-
flecting the area's high
cultural interest and attainment.
The Fox Valley Arts Alliance actively
promotes the arts, and has for more than
10 years. An umbrella unit, the Alliance
aids the efforts of more than 50 arts-
oriented organizations, representing the
arts in all their hues and tones, and is a
voice for Fox Valley artists within state
and regional circles.
Several of these groups have been part
of the Fox Cities community for decades.
The Fox Valley Symphony Orchestra has
observed its 25th anniversary. The AGA-
Center for Visual Arts is 30 years old. The
Attic Theatre, a thriving community
theatre company, has performed for
more than 40 seasons; the Chaminade
Chorus for 50! And, the MacDowell
Chorus is nearing its 60th season!
Festivals are traditional times of gather-
ing for Fox Cities families. Highlights
from the area's festival calendar include
Octoberfest, Riverfest, the Great Wiscon-
sin Cheese Festival, Paperfest, Otto
Grunski Polski Festyn, the Kermis Dutch
Celebration, Communityfest, Flag Day
and Christmas parade. AGA's Art in the
Park, a popular one-day extravaganza
held in City Park, and a similar art fair
in Neenah's waterfront Riverside Park,
attract art enthusiasts and festival goers
each summer.
The several galleries, museums, and
historical sites of the Fox Cities are attrac-
tions as well, drawing residents and
visitors alike.
18
0
83-0-0- 0
Health Care
&
xpert health care and
treatment are assured in
the Fox Cities area by four
hospitals with more than
1,200 beds and some 350 physicians rep-
resenting all major medical specialties.
Appleton Medical Center offers com-
prehensive medical services, including
open heart surgery and cardiac care and
rehabilitation. Its Appleton Heart Insti-
tute is involved in a North American
study of a drug to lower cholesterol.
St. Elizabeth Hospital continues to ex-
pand its extensive facilities and services.
Noted for its emergency care and a vari-
ety of health maintenance programs, St.
Elizabeth also operates Kaukauna Com-
munity Hospital, a 50-bed acute care
facility.
Neenah's Theda Clark Regional Medi-
cal Center is the designated renal
dialysis center for the Fox Valley and
offers such services as CT scans, ultra-
sound, nuclear medicine, and a regional
neonatal intensive care nursery. It was
the first hospital in the nation to use a
new cardiovascular imaging system
designed to show distortion-free images
of the cardiovascular system.
Several medical clinics serve the Fox
Cities area. The largest is the La Salle
Clinic with about a dozen sites and more
than 110 physicians on staff.
Caring is a Fox Cities tradition.
21
Recreation
he beauty and the
joys of nature's four sea-
sons surround the Fox
Cities, inviting residents to a
myriad of outdoor activities, from sum-
mertime picnics to wintertime ice
fishing.
Families are beckoned by more than
30 municipal, county, and state parks,
with a variety of recreational facilities
and equipment. Boat owners have access
to 14 launching sites on the Fox River
and Lake Winnebago, one of the nation's
largest fresh water inland lake. The most
avid golfer's appetite is satiated by the
area's 14 public and five private golf
courses with a total of more than 260
holes.
The Fox Cities also offers a wealth of
indoor recreational opportunities, rang-
ing from two excellent YMCAs to a vari-
ety of health and fitness clubs, soccer
fields, bowling centers, roller rinks, ball
diamonds, tennis and racquetball courts,
and ice arena.
For sports spectators, there are the Ap-
pleton Foxes, a Kansas City Royals farm
club; Kaukauna's Wisconsin International
Raceway, and the Fox Valley Greyhound
Park. The NFL's Green Bay Packers are a
mere 30 miles away. Wisconsin's famed
Door County, the "Cape Cod of the Mid-
west," is an easy drive away. Of course,
Milwaukee's theaters, museums, gal-
leries, and professional baseball and bas-
ketball teams are just two hours from the
Fox Cities.
The Fox Cities is a place for fun.
22
Fox Cities Facts
HE FOX CITIES: The
cities of Appleton,
Kaukauna, Menasha, and
Neenah, and the villages of Com-
bined Locks, Kimberly, and Little Chute,
and the towns of Neenah, Menasha, Grand
Chute, and Greenville. Economic hub for
a three-county area.
Transportation in the Fox Cities
AIR: Outagamie County Airport served by
three commercial airlines. Air freight,
charter service, and general aviation
services available.
HIGHWAYS: U.S. Highways 10, 41, and 45.
State Highways 47, 55, 76, 96, and 114. The
area ranks among the top 10 metro-
politan centers in the U.S. having the shor-
test commuting times to and from work.
HILDEBRAND'S
PUBLIC: Valley Transit provides bus serv-
ice among the Fox Cities communities.
Three inter-regional bus lines and charter
bus services are available.
TRUCK: More than 60 trucking and ware-
housing firms provide local, long-dis-
tance, and storage services.
RAIL: The Fox River Valley Railroad and
Wisconsin Central Limited, provide freight
services.
WATER: Ports of Green Bay, 30 miles
north, and Milwaukee, 100 miles south,
provide access to the Great Lakes Seaway.
Utilities in the Fox Cities
WATER: Publicly-owned water utilities
draw from Lake Winnebago and deep
wells. The Fox River is an emergency
source.
GAS: Natural gas provided by Wisconsin
Natural Gas and Wisconsin Gas Company.
ELECTRICITY: Wisconsin Electric Power
Company, Menasha Water & Electric
Utilities, and Kaukauna Electric & Water
Department.
continued
25
Fox Cities Facts
Utilities in the Fox Cities
TELEPHONE: Wisconsin Bell, Inc., and
numerous independent long distance
suppliers.
Services in the Fox Cities
POSTAL: U.S. Postal Service offices in each
of the Fox Cities.
TELEVISION AND RADIO: WBAY-TV (CBS),
WFRV-TV (ABC), WLUK-TV (NBC), WPNE-
TV (PBS), AND WLRE-TV, all located in
Green Bay. WXGZ-TV in Appleton. Cablevi-
sion of the Fox Cities, and Warner AMEX
Cable TV of Neenah/Menasha, each offer-
ing more than 30 channels. More than 20
radio stations serve the area.
FINANCIAL INSTITUTIONS: 14 banks and
branch offices, nine savings and loans.
Nearly 40 credit unions.
NEWSPAPERS: The Post-Crescent and the
Oshkosh Northwestern publish daily.
Several area weekly and monthly
publications.
Education in the Fox Cities
PUBLIC SCHOOLS: Appleton Area School
District, Kaukauna School District, Kim-
berly School District, Little Chute Area
Schools, Menasha Joint School District,
and Neenah Joint School District.
PAROCHIAL SCHOOLS: More than 40
parochial schools in the Fox Cities area.
COLLEGES AND UNIVERSITIES:
Lawrence University, University of Wiscon-
sin - Fox Valley, Fox Valley Technical
College.
PRESCHOOLS: 30 preschools and kinder-
gartens in the Fox Cities area.
26
Fox Cities Facts
Attractions:
Amelia Bubolz Doll Collection, more than
1,000 antique dolls from Europe and the
U.S.
Grignon Mansion, home to a pioneering
fur trader, listed in the National Register
of Historic Places.
Replica of First Hydroelectric Power
Station, important because in 1882 the
original station made Appleton the first
city in the world to have electricity
generated by water power.
1000 Islands Environmental Center, 240-
acre conservatory along the Fox River.
Bergstrom-Mabler Museum, with one of
the most extensive collections of decora-
tive glass paperweights in the world.
Outagamie County Museum, preserving
the history of the Fox Cities area, with
emphasis on industrial development.
Houdini Historical Center, displaying
memorabilia from the life of Harry
Houdini, an Appleton native.
University of Wisconsin Center - Fox Valley
Planetarium, sky shows open to public
throughout school year.
27
here is a time and a place.
People love the Fox Cities
for its times of the year,
nature's four colorful seasons.
They love the Fox Cities
for there is no more inviting place
to live, work, and raise a family.
28
FOXCITIES
GROWTH ALLIANCE
The Fox Cities produced for the Growth Alliance
of the Fox Cities Chamber of Commerce & Industry
227 South Walnut Street, P.O. Box 1855
Appleton, WI 54913-1855 (414) 734-7101
Og
OUTLOOK GRAPHICS CORP.
I
Wrestling
CKCARD
SAMBOX
E
###
G Edition
SAUTHS
SAVERS
JENNIEO
TURKEY HAM
FORMED
JENNIE-O
Hormel
TURKEY
Rag
Amazon
BREAST
Light&Lean
97%FAT FREE
Hickory Smoked
FRANKS
M INDIVIDUALIS REGISTERED
Oscar
Superior
Nutrition
Calories per Frank
Mayer
Hamster
Gerbil
TREAT STICKS
08:
MORE
B SECTION
MORE
MORE
PERFORMANCE
THROUGH
PARTNERSHIPS
ABOUT THE COVER
Outlook Graphics' successful
our customers are illustrated on
performance is the result of
the cover. Shown are a variety
partnerships developed with
of products produced by our
stockholders, employees,
specialty printing and converting
customers and suppliers. The
and packaging operations.
results of our partnership with
600
NMU
CONTENTS
President's Letter
2
Our Strategy
4
Our Business
5
Operations Review
6
Selected Financial Data
12
Management's Discussion and Analysis
13
Index to Financial Statements
16
Quarterly Data
27
Market Prices and Dividends
27
Corporate Information
28
OUTLOOK GRAPHICS CORP.
COMPANY PROFILE
Outlook Graphics Corp. is a
companies in the sports picture
graphic services company which
card, food, consumer products,
offers an array of related services
and printing and publishing
including specialty printing,
industries. The Company operates
converting and packaging, and
three production facilities in
distribution principally to
Neenah, Wisconsin.
FINANCIAL HIGHLIGHTS
Fiscal Year Ended May 31,
1991
1990
Change
EARNINGS STATEMENT
(dollars in thousands, except per share amounts)
Net sales
$43,275
$31,765
36.2%
Operating profit
6,369
4,738
34.4
Net earnings
3,354
2,409
39.2
BALANCE SHEET (AT FISCAL YEAR END)
Working capital
$11,953
$ 2,002
497.1%
Total assets
38,699
21,902
76.7
Long-term debt
4,409
7,005
(37.1)
Stockholders' equity
27,466
7,893
248.0
PER SHARE
Net earnings per share
$ .92
$ .69
33.3%
Average shares outstanding
3,651,023
3,471,471
NET SALES (millions)
NET EARNINGS (millions)
NET EARNINGS PER SHARE
$45
$4.0
$1.00
40
.90
3.5
35
.80
3.0
.70
30
2.5
.60
25
2.0
.50
20
1.5
.40
15
.30
1.0
10
.20
5
0.5
.10
87
88
89
90
91
87
88
89
90
91
87
88
89
90
91
1
DEAR STOCKHOLDERS
We completed an initial public
their own jobs and develop
were $7.0 million in fiscal 1991.
offering of shares of Common
themselves to their fullest
Major equipment purchases
Stock at $11.50 per share in May
potential. Their growth is
included three six-color printing
1991. All of us at Outlook Graphics
important to the Company's
presses, labeling equipment,
extend a warm welcome to the new
growth. Our challenge is to
and wrapping and trimming
stockholders who have joined us.
maintain this team spirit as we
machines. Stockholders' equity
We appreciate the confidence you
expand quality customer services
was $27,466,000 at May 31, 1991,
have placed in us by investing in
and employment in the future.
a substantial increase from
our Company. We also want to
stockholders' equity of
FISCAL 1991 RESULTS
thank our long-term stockholders
$7,893,000 at the same time
for their support throughout the
Our second set of "firsts" was the
last year.
14 years of growth which have
new highs in sales, earnings,
GROWTH AREAS
brought us to where we are today.
employment and stockholders'
At Outlook Graphics, we place a
equity achieved in fiscal 1991. For
Increased demands for specialty
great deal of importance on
the year ended May 31, 1991, sales
printing and converting
partnerships-partnerships with
rose 36% to $43,275,000. Net
capabilities were the primary
stockholders, employees, custo-
earnings were $3,354,000, a 39%
reasons for the record sales and
mers and suppliers. These valuable
increase from the prior year. Net
earnings. The sports picture card
relationships have enabled us to
earnings per share were $.92, up
industry was a source of sizeable
build a strong company. They serve
33%. These numbers reflect the
growth for us this year. We print,
as the foundation for our future
outstanding performance of our
trim, collate and wrap picture
growth as well.
people in delivering high quality
cards for customers including
Charles E.
Jeffry H. Colli
Thompson
Vice Presiden
Our partnership with employees
services at a reasonable cost.
Fleer Corp., Impel Marketing,
Executive Vice
Manufacturin
President
is especially strong. One of the
The proceeds from the initial
Inc., and The Upper Deck
attributes that we believe sets
public offering have been used to
Company. We have diversified
Outlook Graphics apart from many
reduce debt and to supply the
our picture card customer base,
other companies is the opportunity
growing capital needs of the
allowing our entry into the
we offer our employees to manage
Company. Capital expenditures
entertainment card market.
2
OUTLOOK GRAPHICS CORP.
1991 WAS A
We are also pleased with our
THE FUTURE
YEAR OF FIRSTS
first year of experience in
Our solid base in consumer
paperboard packaging and look for
products and publishing,
continued growth in this area in
combined with our established
the coming year. We continue to
expertise in trading cards,
seek other complementary service
positions us for continued progress
niches to further expand our
in fiscal 1992. There will be many
vertically integrated capabilities.
opportunities for Outlook Graphics
We define ourselves as a service
throughout the nineties. With the
company. Our ability to help our
public offering behind us, the
customers successfully market
addition of several key managers,
their products has enabled us to
and our increased financial
attract many quality companies as
strength, we are ready to make the
customers, including a number of
most of these opportunities.
Fortune 1000 companies. The
It is appropriate to close our
prospects for adding to this list in
first annual report with a thank
fiscal 1992 are excellent.
you to our partners-our
OBJECTIVES
stockholders, customers,
employees and suppliers. Your
Our corporate objectives are to:
support and commitment make
meet the needs of our customers;
Outlook Graphics a very special
effrey P. Stilp
David L.
develop a highly motivated and
reasurer and
Erdmann
company.
ontroller
Chairman and
well-trained employee group; and
President
increase the value of our stock-
Clavid L. Endian
holders' investment. These objec-
David L. Erdmann
Chairman and President
tives are the framework we use to
strategize activities and evaluate
our progress throughout the year.
3
OUR
STRATEGY
OUTLOOK GRAPHICS IS A
innovative approach to work-an
PEOPLE COMPANY.
approach which encourages
We work hard to build strong
individuals to develop their career
partnerships with our employees,
in a supportive environment.
customers and suppliers.
Sustaining the momentum of this
Our partnership with employees
important partnership is the future
begins with our management team.
for Outlook Graphics and the
Many of these experienced
people on our team.
managers have been with the
OUTLOOK GRAPHICS IS A
Company since its inception. As a
SERVICE COMPANY.
result, they know our business and
Partnerships with our customers
our customers. They have devel-
are based upon quality and
oped the approach to service which
value. We continually seek
makes Outlook Graphics unique.
complementary new service
We are proud of the fact that a
niches to enable our customers to
significant number of employees
effectively market their products.
International Masters Publishers,
are Outlook Graphics stockholders.
And we value the participation of
Inc., Kimberly-Clark Corporation,
Dedicated employees like those
our suppliers in enhancing our
Kraft General Foods, Inc., Oscar
featured in this report help us to
reputation for quality.
Mayer Foods Corporation, The
earn our reputation for quality and
We are proud to work with many
Procter & Gamble Company,
service every day with every
nationally recognized companies
virtually all of the major U.S. cereal
customer.
including AMEX Life Assurance
companies, and others. Service at
We attract and retain these
Company, Banta Corporation, Fleer
Outlook Graphics means giving
talented individuals because of our
Corp., Impel Marketing, Inc.,
110% to all of our customers.
4
OUTLOOK GRAPHICS CORP.
OUR
BUSINESS
Outlook Graphics has three major
related classes of services:
39%
SPECIALTY PRINTING,
54%
CONVERTING AND PACKAGING,
AND DISTRIBUTION.
Customers may utilize just one or a
combination of these services,
depending upon their needs. We call
this our "one-stop shop" concept.
This approach gives us a unique
competitive advantage in the
7%
marketplace.
Instead of offering a specific set
of services to customers, we design
a combination of integrated services
Dirk J. DeBraal
Richard R. Austin
Suzanne M.
Myron R. Jones
around the needs of each customer.
Plant Manager
Purchasing
McAloon
Production
Manager
Estimating
Control Manager
This continuum of services can
Manager
efficiently take a project from the
Patrick R. Rusk
Cynthia J. Kallien
George L. Hazen
initial concept to completion
Division Manager
Assistant
Personnel
Controller
Manager
without the need for subcontractors
and transporting projects to various
locations. Increased efficiency and
cost effectiveness are the benefits of
this approach for our customers.
5
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10 CORVETTE COLLECTOR'S
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07
OUTLOOK GRAPHICS CORP.
SPECIALTY
PRINTING
Increased demand for specialty
Our label division produces
printing was a key factor in our
product labels, stickers, vinyl
record 1991 earnings. This class of
cards, point-of-sale materials and
services represented 39% of sales
game pieces. These can be
in fiscal 1991.
enhanced with scratch-off inks,
Utilizing the latest in technology
sequential numbering or custom
and equipment, Outlook Graphics
printing.
provides high volume sheet-fed
The successful specialty
printing in up to six colors plus
printing operation offers quality
varnishes and aqueous coatings.
reproduction either as a single
We also offer custom die-cutting,
service or combined with collating
trimming, scoring, folding and
and packaging for a complete
specialty finishing.
project. This approach gives us the
Examples of some specialty
flexibility to meet a variety of
printing products include sports
customer requirements.
Iim Friebel
and other picture cards, recipe
cards, folding cartons, food
Jim Friebel
coupons and labels, vinyl cards
"People make the difference here.
(such as temporary credit cards),
Management recognizes the
contributions we make on an
pressure sensitive labels,
hour by hour basis, assuring that
the best work is being done on
sweepstakes and game pieces,
behalf of our customers."
and stickers.
7
THE Lunchab THE Mayer serving R LUNCH
TOWNING
the
Salam
P
OUTLOOK GRAPHICS CORP.
CONVERTING
Converting and packaging services
National Basketball Association,
AND PACKAGING
comprised 54% of fiscal 1991 sales.
the National Football League and
These operations were strong
the National Hockey League. We
contributors to 1991 profits.
have diversified this area of our
Our packaging operation
operations outside of sports cards
performs film overwrapping
to include entertainment and other
functions for a variety of products.
collectible cards which offer growth
A popular example of this capability
opportunities.
is the folding and overwrapping of
Our sports card production
the napkins for Oscar Mayer's
expertise evolved from our earlier
Lunchablesᵀ packages. Other
work on cards for board games
activities in this operation include
including Trivial Pursuit®. We also
overwrapping toys and other
convert recipe cards, children's
promotional items for inside cereal
picture cards and educational
boxes and packaging fabric softener
flashcards. Some of the specialized
sheets for laundry room vending
equipment used in this process has
machines. Outlook Graphics' food
been researched and developed by
grade clean room meets stringent
Outlook Graphics employees.
FDA standards for safety and
Our newest packaging service is
quality.
the paperboard packaging
A major activity of the
capabilities we introduced one year
converting and packaging area is
ago. We are pleased with the
Diane L, Retiner Diane Ketiner
our expertise in picture card
excellent market response for this
Diane Kettner
converting. This process involves
service, which utilizes paperboard
"In order to provide customers
printing the cards, cutting,
stock to print, die-cut, fold, glue and
with quality products and
services, you have to be a
trimming, collating, overwrapping
insert products and promotional
company made up of quality
people who care about their
and cartoning the cards for
items into folding cartons, blister
work. Like Outlook."
distribution. We currently produce
cards, pocket folders and other
cards for licensees of the American
point-of-purchase materials.
and National Baseball leagues, the
9
THE
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Home
Enter
0
End
SUI
OUTLOOK GRAPHICS CORP.
DISTRIBUTION
The final step in our one-stop
Fulfillment is the distribution of
service approach is direct mailing
items to a third party as they are
and fulfillment. This operating area
ordered by the customer. These can
was 7% of fiscal 1991 sales.
be in response to special promo-
After our customers' products
tions or replenishment of standing
have been printed, packaged or
orders for materials such as forms
overwrapped, we ship them out of
and booklets which are reprinted
our secured 160,000 square foot
and warehoused at our facility.
direct mail facility. We utilize high-
Remote access capabilities give
speed equipment to ink-jet address,
customers immediate information
collate, insert, wrap and label items
on their inventories and the ability
for bulk mailing. Zip code sorting
to reorder items by computer.
achieves maximum postage savings
From concept through
for our customers. Direct mailings
completion, printing to fulfillment,
during the past year included
this review of our operations
Phyllis Voughan
catalogs, coupon packages, federal
illustrates how Outlook Graphics
Phyllis Vaughan
income tax forms and promotional
responds to customer needs. We
"We're all team members at
materials.
truly are a one-stop source, helping
Outlook. And as a team, we work
toward serving the customer to
customers to market their products
the best of our abilities."
efficiently and cost effectively.
11
SELECTED FINANCIAL DATA
The following selected financial data of Outlook
the consolidated financial statements, related notes
Graphics Corp. (the "Company") has been derived
and Management's Discussion and Analysis contained
from the Company's audited consolidated financial
in this report.
statements and should be read in conjunction with
(in thousands, except per share amounts)
Fiscal Year Ended May 31,
1991
1990
1989(1)
1988
1987
EARNINGS STATEMENT DATA:
Net sales
$43,275
$31,765
$17,292
$11,467
$ 8,280
1
Cost of goods sold
32,407
23,013
13,204
8,807
6,316
Gross profit
10,868
8,752
4,088
2,660
1,964
Selling, general and
administrative expenses
4,499
4,014
2,601
1,802
1,415
Operating profit
6,369
4,738
1,487
858
549
Other income (expense):
Interest expense
(1,323)
(1,071)
(611)
(375)
(237)
Interest and other income
420
247
154
189
202
Earnings before income taxes
and cumulative effect of
accounting change
5,466
3,914
1,030
672
514
Income tax expense
2,112
1,505
374
275
259
Earnings before cumulative effect
of accounting change
3,354
2,409
656
397
255
Cumulative effect of accounting
change on prior years (2)
-
-
-
224
-
NET EARNINGS
$ 3,354
$ 2,409
$ 656
$ 621
$ 255
Earnings per share:
Before cumulative effect of
accounting change (2)
$ .92
$ .69
$ .21
$ .14
$ .09
NET EARNINGS PER SHARE
.92
.69
.21
.22
.09
Weighted average number of
shares outstanding
3,651,023
3,471,471
3,094,152
2,883,950
2,852,768
BALANCE Sheet DATA (AT FISCAL YEAR END):
Working capital
$11,953
$ 2,002
$ 3,115
$ 1,005
$ 573
Total assets
38,699
21,902
17,920
9,474
8,273
Long-term debt, less
current maturities
4,409
7,005
8,352
3,006
3,095
Stockholders' equity
27,466
7,893
5,402
3,477
2,757
(1) Includes the results of operations of the Company's subsidiary, Outlook Label Systems, Inc. ("Outlook
Label") from January 1, 1989. See Note K of Notes to Consolidated Financial Statements.
(2) Effective June 1, 1987, the Company changed its method of accounting for income taxes to the liability
method in accordance with Statement of Accounting Standards No. 96. The cumulative effect of this
accounting change increased earnings by $224,000 ($.08 per share) for fiscal 1988.
12
MANAGEMENT'S DISCUSSION AND ANALYSIS
RESULTS OF OPERATIONS
The following table shows, for the fiscal years indi-
Gross profit increased $2.1 million, or 24.2%, during
cated, certain items from the Company's consolidated
fiscal 1991 as compared to fiscal 1990 due to
statements of earnings expressed as a percentage of
increased sales, offset in part by lower gross profit
net sales.
margins. Gross profit as a percentage of net sales
decreased during fiscal 1991 to 25.1% from 27.5%
Percentage of Net Sales
Year Ended May 31,
1991
1990
1989
during fiscal 1990. This decrease was due primarily
to a reduction in gross margins at Outlook Label
Net sales
100.0%
100.0% 100.0%
because of a change in project mix and higher labor
Cost of goods sold
74.9
72.5
76.4
costs at the Company related to the training and
Gross profit
25.1
27.5
23.6
retention of additional employees hired to support
Selling, general and
new and increased production requirements.
administrative expenses
10.4
12.6
15.0
Selling, general and administrative expenses as a
Operating profit
14.7
14.9
8.6
percentage of net sales decreased during fiscal 1991 to
Other income (expense):
10.4% as compared to 12.6% for fiscal 1990, primarily
Interest expense
(3.1)
(3.4)
(3.5)
due to the increase in net sales and the fixed nature of
Interest and
certain selling, general and administrative expenses.
other income
1.0
.8
.9
(2.1)
(2.6)
(2.6)
Interest expense as a percentage of net sales
decreased slightly to 3.1% during fiscal 1991 from
Earnings before
3.4% for fiscal 1990. However, the dollar amount
income taxes
12.6
12.3
6.0
of interest expense increased by $252,000 to $1.3
Income tax expense
4.9
4.7
2.2
million for fiscal 1991 due to increased borrowings
NET EARNINGS
7.8%
7.6%
3.8%
to finance capital expenditures prior to the
Company's initial public offering in May 1991. Interest
income increased during fiscal 1991 primarily due
to earnings from $3.1 million cf unexpended funds
FISCAL 1991 COMPARED TO
from industrial development bond financing.
FISCAL 1990
As a result of the factors discussed above, and
Net sales for fiscal 1991 of $43.3 million were $11.5
reflecting a relatively constant effective income tax
million, or 36.2%, higher than the sales of $31.8 million
rate for both periods, net earnings for fiscal 1991
in fiscal 1990. Net sales of converting and packaging
increased by $945,000, or 39%, compared to fiscal
services increased 67.9% to $23.5 million during
1990. Net earnings as a percentage of net sales
fiscal 1991 from $14.0 million in fiscal 1990, primarily
increased slightly to 7.8% for fiscal 1991 compared to
7.6% in fiscal 1990.
due to increased volume of sports and other collectible
picture card production for new customers. This
Because of the project-oriented nature of the
increase occurred in spite of the absence of converting
Company's business, the Company's largest customers
and packaging sales in fiscal 1991 to two customers
tend to vary from year to year depending on the
which had been the Company's largest customers in
number and size of the projects completed for these
fiscal 1990. In addition, net sales of specialty printing
customers. Additionally, the Company's sales have
increased 20.0% to $16.8 million during fiscal 1991
been relatively concentrated among its largest
from $14.0 million in fiscal 1990, primarily due to
customers, as well as concentrated in the sports
increased production of sports and other collectible
picture card business which constituted 43% and 26%
picture cards.
of net sales in fiscal 1991 and 1990, respectively.
Changes in the Company's project mix and customer
base, or the demand for the Company's services
relating to sports picture cards, could affect future
sales volume and profitability.
13
MANAGEMENT'S DISCUSSION AND ANALYSIS (CONTINUED)
FISCAL 1990 COMPARED TO
LIQUIDITY AND
FISCAL 1989
CAPITAL RESOURCES
Net sales for fiscal 1990 increased by $14.5 million, or
The Company completed an initial public offering in
83.7%, over net sales for fiscal 1989. In fiscal 1990,
May 1991. The Company's issuance of 1,561,372
the Company significantly expanded its converting
shares of Common Stock netted proceeds to the
and packaging of sports picture cards, which
Company of $16.2 million. The Company used $13.5
accounted for $8.3 million, or 26.2%, of net sales in
million of the proceeds to reduce outstanding debt
fiscal 1990. Outlook Label completed its first full year
and the balance of the proceeds were retained as
of operations with the Company and generated net
working capital.
sales of $6.9 million (representing 21.8% of net
sales), as compared to $1.8 million for the five month
The Company has a bank agreement with an avail-
period included in fiscal 1989.
able revolving credit facility. As of May 31, 1991, 1990
and 1989, $0, $1.6 million and $2.2 million, respec-
Gross profit increased $4.7 million, or 114%, in fiscal
tively, had been drawn under the revolving credit
1990 as compared to fiscal 1989. Gross profit as a
facility, which provides a commitment of $3.75
percentage of net sales increased to 27.5% for fiscal
million through September 12, 1991. In addition, the
1990 from 23.6% for fiscal 1989. The improvement in
bank agreement included term loan facilities under
gross profit margins is primarily attributable to the
which $0, $6.0 million and $5.8 million, respectively,
growth in converting and packaging services and the
were outstanding as of May 31, 1991, 1990 and 1989.
resulting more efficient utilization of production
resources. Increases in Outlook Label's net sales and
The Company has generated cash flows from opera-
improvement in its margins also contributed to the
tions during each of the past three full fiscal years. The
increase in gross profit percentage.
Company's line of credit provides an additional source
of liquidity when needed.
While total selling, general and administrative
expenses increased by $1.4 million from fiscal 1989 to
The Company's policy has been to fund capital
fiscal 1990, they decreased as a percentage of net
expenditures with cash generated from operations
sales to 12.6% in fiscal 1990 from 15.0% in fiscal 1989.
and through borrowings, and by leasing certain
The increase in the dollar amount primarily reflects a
assets rather than purchasing them. In some
full year of Outlook Label operations, increased com-
instances, the Company has acquired capital equipment
pensation expense and other expenses related to the
with cash generated from operations or its revolving
growth in net sales. The decrease in the percentage
credit facility and has recovered these funds through
amount primarily resulted from the increase in net
the ensuing sales of that equipment (at cost) to
sales and the fixed nature of certain selling, general
third parties that lease the equipment back to the
and administrative expenses.
Company. Amounts recoverable from sale and lease-
back transactions relate to cash amounts recoverable
Interest expense as a percentage of net sales
by the Company at a stated date pursuant to sale/
decreased slightly to 3.4% in fiscal 1990 from 3.5% in
leaseback financing commitments not yet funded.
fiscal 1989. However, the dollar amount of interest
The Company uses sale/leaseback financing with
expense increased by $460,000 from $611,000 in fiscal
respect to new equipment, and does not sell and
1989 to $1,071,000 in fiscal 1990 due to additional bank
lease back existing equipment as a source of funds.
borrowings used to finance capital expenditures to
support the growth in sales.
The competitive requirements of the graphic services
industry require the Company to make significant
As a result of the factors discussed above, and despite
capital expenditures to maintain and improve its
an increase in the Company's effective tax rate from
equipment and facilities. During fiscal 1991, the
36.4% to 38.5%, net earnings as a percentage of net
Company made approximately $7.0 million in capital
sales increased to 7.6% in fiscal 1990 from 3.8% in
expenditures, excluding the cost of capital equip-
fiscal 1989.
ment financed through sale/leaseback transactions.
14
MANAGEMENT'S DISCUSSION AND ANALYSIS (CONTINUED)
The expenditures consisted of $5.4 million for equip-
through $2.7 million in working capital of the pro-
ment, $660,000 for expansion of the Company's
ceeds remaining from the initial public offering after
pressroom facilities, and $1.0 million for a plant
debt repayment, and through funds obtained from
expansion at Outlook Label. The Company financed
operations and borrowings. The Company's capital
its fiscal 1991 capital expenditures through increased
position has been strengthened as a result of the
bank borrowings, industrial development bond
repayment of outstanding debt with the proceeds
financing and working capital. Additionally, during
from the initial public offering. The Company
fiscal 1991, the Company entered into two operating
believes this strengthening will enhance its ability to
leases for equipment valued at $5.0 million which
obtain future additional debt financing under favor-
require total annual lease payments of $901,000.
able terms. Outlook Label also has available $3.0
million in unexpended proceeds from previous indus-
During fiscal 1990, the Company made approximately
trial development bond financing. The Company may
$4.6 million in capital expenditures of which the
also continue to obtain the use of new equipment
Company recovered $1.2 million during the first quarter
through operating lease arrangements if advanta-
of fiscal 1991 through a sale and leaseback of new
geous to the Company to do SO.
equipment. During fiscal 1990, the Company gener-
ated cash from operations of approximately $4.2
The Company's debt agreements include covenants
million, which was used primarily for the acquisition
and restrictions which require-the Company to main-
of capital equipment. Also during fiscal 1990, the
tain certain capital levels, prohibit the payment of
Company borrowed $2.1 million using industrial
dividends, restrict capital expenditures and other-
development bond financing, of which $605,000
wise require the Company to meet certain financial
remained available for future use at May 31, 1990.
tests. The Company has, in the past, received waivers
to permit it to take actions which would not other-
During fiscal 1989, the Company's capital expendi-
wise be permitted by the covenants; these waivers
tures totalled $4.3 million and were funded through
have permitted additional specified capital invest-
bank borrowings and cash generated from operations.
ments, repurchases of securities and stock dividends.
The Company anticipates capital expenditures of
The Company currently is negotiating a new debt
approximately $8.0 million in fiscal 1992. The
agreement with an expanded line of credit and less
Company intends to finance the expenditures
restrictive covenants.
IMPACT OF INFLATION
In general, the Company believes that the effects of
inflation on the Company have not been material in
recent years.
PRINCIPAL CLASSES OF SERVICES
The following table sets forth the approximate
amount and percentage of net sales contributed by
each principal class of the Company's services during
the last three fiscal years:
Fiscal Year Ended May 31,
1991
1990
1989
(dollars in thousands)
Specialty Printing
$16,754
39%
$14,007
44%
$ 8,299
48%
Converting and Packaging
23,546
54
14,037
44
5,817
34
Distribution
2,975
7
3,721
12
3,176
18
TOTAL
$43,275
100%
$31,765
100%
$17,292
100%
15
-
INDEX To FINANCIAL STATEMENTS
Consolidated Balance Sheets
17
N
Consolidated Statements of Earnings
18
Consolidated Statements of Stockholders' Equity
19
Consolidated Statements of Cash Flows
20
Notes to Consolidated Financial Statements
21
Statement of Management Responsibility
for Financial Statements
26
Report of Independent Certified Public Accountants
26
S
0
N
16
Outlook Graphics Corp. and Subsidiary
CONSOLIDATED BALANCE SHEETS
May 31,
1991
1990
(in thousands, except share amounts)
ASSETS
CURRENT ASSETS
Cash and cash equivalents (note A)
$ 3,467
$ 440
Accounts receivable, less allowance for doubtful accounts of
$208 and $202 respectively
7,347
3,226
Notes receivable-current maturities (note B)
21
65
Recoverable funds from sale/leaseback (note J)
-
1,162
Inventories (notes A and C)
4,369
2,016
Prepaid expenses
285
125
Deferred income taxes (note H)
685
342
Other
295
177
Total current assets
16,469
7,553
PROPERTY, PLANT AND EQUIPMENT-AT COST
Buildings
5,651
4,006
Machinery and equipment
16,585
12,253
Machinery and equipment deposits
848
145
23,084
16,404
Less accumulated depreciation (note A)
4,887
3,520
18,197
12,884
Land
152
125
18,349
13,009
OTHER ASSETS
Equipment acquisition trust fund (note D)
2,985
605
Goodwill (notes A and K)
521
550
Notes receivable-less current maturities (note B)
89
95
Other
286
90
3,881
1,340
TOTAL ASSETS
$38,699
$21,902
LIABILITIES AND STOCKHOLDERS EQUITY
CURRENT LIABILITIES
Current maturities of long-term debt (note E)
$ 426
$2,865
Accounts payable
2,201
667
Accrued liabilities
Salaries and wages
1,385
975
Payroll and other taxes
205
109
Interest
58
144
Other
241
119
1,889
1,347
Income taxes (note H)
-
672
Total current liabilities
4,516
5,551
LONG-TERM DEBT, less current maturities (note E)
4,409
7,005
DEFERRED INCOME TAXES (note H)
2,308
1,453
COMMITMENTS (note J)
|
-
STOCKHOLDERS' EQUITY (notes F and I)
Cumulative Preferred Stock, $.01 par value-authorized 1,000,000 shares; none issued
-
-
Common Stock, $.01 par value-authorized 15,000,000 shares; issued and outstanding,
5,055,382 and 3,489,885 shares, respectively
51
35
Additional paid in capital
18,280
2,077
Retained earnings
9,135
5,781
27,466
7,893
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY
$38,699
$21,902
The accompanying notes are an integral part of these statements.
17
Outlook Graphics Corp. and Subsidiary
CONSOLIDATED STATEMENTS OF EARNINGS
Year Ended May 31,
1991
1990
1989
(in thousands, except per share amounts)
Net sales
$43,275
$31,765
$17,292
Cost of goods sold
32,407
23,013
13,204
Gross profit
10,868
8,752
4,088
Selling, general and administrative expenses
4,499
4,014
2,601
Operating profit
6,369
4,738
1,487
Other income (expense)
Interest expense
(1,323)
(1,071)
(611)
Interest income
178
112
66
Other income
242
135
88
(903)
(824)
(457)
Earnings before income taxes
5,466
3,914
1,030
Income tax expense (note H)
2,112
1,505
374
NET EARNINGS
$ 3,354
$ 2,409
$ 656
NET EARNINGS PER SHARE (NOTE A)
$.92
$.69
$.21
Weighted average number of shares outstanding
3,651,023
3,471,471
3,094,152
The accompanying notes are an integral part of these statements.
18
Outlook Graphics Corp. and Subsidiary
CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY
Additional
Common Stock
paid in
Retained
(dollars in thousands)
Shares
Amount
capital
earnings
Total
Balance at May 31, 1988 (note F)
2,919,852
$30
$ 732
$2,716
$ 3,478
Issuance of shares under stock
purchase plan (note G)
17,045
-
39
-
39
Issuance of shares in acquisition of
Outlook Label (note K)
536,245
5
1,262
-
1,267
Repurchase of shares
(17,333)
-
(38)
-
(38)
Net earnings for 1989
-
-
-
656
656
--
Balance at May 31, 1989
3,455,809
35
1,995
3,372
5,402
Issuance of shares under stock purchase
and stock option plans (notes G and I)
36,880
-
92
I
92
Repurchase of shares
(2,804)
-
(10)
-
(10)
Net earnings for 1990
-
-
-
2,409
2,409
Balance at May 31, 1990
3,489,885
35
2,077
5,781
7,893
Issuance of shares under stock option
plan (note I)
4,125
-
9
-
9
Issuance of shares in initial public
offering (note F)
1,561,372
16
16,195
-
16,211
Net earnings for 1991
-
-
-
3,354
3,354
Payment of fractional shares
-
-
(1)
I
(1)
Balance at May 31, 1991
5,055,382
$51
$18,280
$9,135
$27,466
The accompanying notes are an integral part of these statements.
19
Outlook Graphics Corp. and Subsidiary
CONSOLIDATED STATEMENTS OF CASH FLOWS
Year Ended May 31,
1991
1990
1989
(in thousands)
Cash flows from operating activities:
Net earnings
$3,354
$2,409
$ 656
Adjustments to reconcile net earnings to net cash provided by
operating activities:
Depreciation and amortization
1,694
1,284
803
Deferred income taxes
512
343
123
Other
(7)
(5)
(23)
Change in assets and liabilities net of
effects from purchase of business:
Increase in accounts receivable
(4,121)
(159)
(853)
(Increase) decrease in inventories
(2,353)
313
(911)
Increase in prepaid expenses
(160)
(11)
(66)
Increase in other current assets
(118)
(125)
(34)
Increase (decrease) in accounts payable
1,534
(937)
641
Increase in accrued liabilities
542
547
182
Increase (decrease) in income taxes
(672)
552
(10)
Net cash provided by operating activities
205
4,211
508
Cash flows from investing activities:
(Increase) decrease in recoverable funds from sale/leaseback
1,162
(1,162)
-
Acquisition of property, plant and equipment
(6,950)
(3,449)
(4,265)
Increase in equipment acquisition trust fund
(2,380)
(605)
-
Proceeds from notes receivable
65
333
186
Proceeds from sale of equipment
39
147
157
Change in other assets
(50)
(70)
(4)
Business acquired, net of cash received
-
-
(212)
Net cash used in investing activities
(8,114)
(4,806)
(4,138)
Cash flows from financing activities:
Net payments under revolving credit agreement
(1,600)
(635)
(275)
Proceeds from long-term borrowings
8,601
2,200
4,549
Proceeds from net issuance of Common Stock
16,219
82
1
Payments on long-term borrowings
(12,036)
(612)
(782)
Change in other assets
(248)
-
-
Net cash provided by financing activities
10,936
1,035
3,493
Net increase (decrease) in cash and cash equivalents
3,027
440
(137)
Cash and cash equivalents at beginning of year
440
-
137
CASH AND CASH EQUIVALENTS
AT END OF YEAR
$ 3,467
$ 440
$ -
Supplemental disclosures of cash flow information:
Cash paid during the year for:
Interest
$ 1,409
$ 990
$ 572
Income taxes
2,393
609
260
Supplemental disclosures of non-cash investing and financing activities:
During 1989, the Company acquired all of the common stock of Outlook Label and acquired fixed assets from
Olympic Partnership in exchange for 536,245 shares of Common Stock and $250,000 in cash (see Note K).
Liabilities were assumed as follows:
Fair value of assets acquired
$3,480
Cash paid
(250)
Stock issued
(1,267)
Liabilities assumed
$1,963
On September 1, 1989, the Company issued 1,157,052 shares of Common Stock in a 3-for-2 stock split effected in
the form of a 50% stock dividend. On August 3, 1990, the Company issued 2,223,418 shares of Common Stock in a
2.75-for-1 stock split effected in the form of a 175% stock dividend.
20
The accompanying notes are an integral part of these statements.
Outlook Graphics Corp. and Subsidiary
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
NOTE A-SUMMARY OF
NOTE B-NOTES RECEIVABLE
ACCOUNTING POLICIES
Notes receivable consist of the following (in thousands):
A summary of the Company's significant accounting
1991
1990
policies consistently applied in the preparation of the
accompanying consolidated financial statements follows.
11% note, due June 28, 1990,
including interest (1)
$ -
$ 47
PRINCIPLES OF CONSOLIDATION
11% note, due September 28, 1994,
The consolidated financial statements include all the
receivable in annual payments
accounts of Outlook Graphics Corp. and Outlook
of $30,595, including interest (1) 95
113
Label Systems, Inc. ("Outlook Label") (a wholly
10% note due April 15, 1994,
owned subsidiary formerly known as Olympic Label
receivable in monthly
Systems, Inc.). All intercompany accounts and trans-
installments (2)
15
-
actions have been eliminated in the preparation of
110
160
the consolidated financial statements. The Company
Less current maturities
21
65
operates in a single industry segment, graphic services.
$ 89
$ 95
During the year ended May 31, 1991, 43% of the Company's
net sales, and 56% of the accounts receivable balance
(1) Collateralized by a guarantee from the
at May 31, 1991, relate to the production of sports and
parent company of the borrower.
other collectible picture cards.
(2) Collateralized by equipment.
REVENUE RECOGNITION
Revenue is recognized when services have been
Future maturities of notes receivable as of May 31,
completed and the product has been shipped.
1991, are as follows (in thousands):
CASH AND CASH EQUIVALENTS
1992
$ 21
1993
30
Cash and cash equivalents include cash on hand,
demand deposits and short-term investments with
1994
32
maturities of three months or less.
1995
27
$110
The Company maintains its cash balance in several
financial institutions in Wisconsin. These balances
are insured by the Federal Deposit Insurance
Corporation up to $100,000 per institution. At May 31,
1991, uninsured amounts held at these financial
NOTE C-INVENTORIES
institutions aggregate to $4,473,000.
Inventories consist of the following (in thousands):
INVENTORIES
Inventories are stated at the lower of cost or market.
1991
1990
Cost is determined using the first-in, first-out method.
Raw materials
$2,485
$1,526
Work in process
1,884
490
DEPRECIATION
Depreciation is provided for in amounts sufficient to
$4,369
$2,016
relate the cost of depreciable assets to operations
over their estimated service lives, on a straight-line
basis as follows:
Buildings
10-40 years
NOTE D-EQUIPMENT ACQUISITION
Machinery and equipment
5-10 years
TRUST FUND
Accelerated methods are used for tax purposes.
As discussed in Note E, the Company obtained proceeds
of $835,000 from the sale of industrial development
GOODWILL
bonds. During September 1990, the Company obtained
The excess of cost over the fair value of assets
an additional $4 million from the sale of industrial
acquired in the purchase of Outlook Label is being
development bonds. Unexpended funds are held by a
amortized on the straight-line basis over a period of
bank under a trust agreement and will be used to pur-
20 years. Accumulated amortization is $64,000 and
chase new machinery and equipment.
$35,000 at May 31, 1991 and 1990.
EARNINGS PER SHARE
Net earnings per share is computed based on the
weighted average number of shares of stock out-
standing during each year.
21
Outlook Graphics Corp. and Subsidiary
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)
NOTE E-LONG-TERM DEBT
Long-term debt consists of the following (in thousands):
On September 1, 1990, Outlook Label entered into an
1991
1990
agreement for industrial development bond financing
in the aggregate principal amount of $4,000,000 with
Term loans
$
-
$6,005
annual principal installments of $400,000 commenc-
Revolving loan
-
1,600
ing September 1, 1991, with interest at a floating rate
Industrial development bonds
4,835
2,245
determined by a remarketing agent (5.75% at May 31,
Various notes
-
20
1991). As of May 31, 1991, $4,000,000 was outstanding.
4,835
9,870
Less current maturities
426
2,865
The revolving loan and the industrial development
bonds are collateralized by the Company's accounts
$4,409
$7,005
receivable, inventories, property, plant and equip-
ment and the common stock of Outlook Label.
TERM LOANS
The loans were payable in monthly installments
The revolving loan and the industrial development
ranging from $13,000 to $55,000 including interest
bond obligations are subject to the terms of certain
ranging from 11.1% to prime plus .5%. These loans
loan agreements which contain provisions setting
were paid in full during May 1991.
forth, among other things, working capital, net worth
and debt to equity requirements, and restrictions on
REVOLVING LOAN
property and equipment additions, loans, invest-
The Company has a $3,750,000 revolving credit
ments, other borrowings, management consulting
agreement expiring September 12, 1991. Borrowings
services, and acquisitions and redemptions of the
thereunder bear interest at .5% over prime. The out-
Company's stock or the issuance of stock except for
standing balance was paid in full during May 1991.
cash. Additionally, the Company may not pay cash
INDUSTRIAL DEVELOPMENT BONDS
dividends without the prior consent of its lenders.
On April 1, 1980, the Company entered into an agree-
The Company has obtained waivers for certain past
ment for industrial development bond financing in
actions which otherwise would have constituted vio-
the aggregate principal amount of $650,000 with
lations of covenants under the loan agreements. The
interest ranging from 9.2% to 9.5%, due in annual
waivers relate to limitations on additional indebted-
principal installments of $55,000 through April 1992.
ness and investments in other entities, capital
These bonds were retired during May 1991.
expenditure limitations, prohibitions on repurchase
of stock, limitations on the purchase or the sale and
On June 1, 1989, the Company entered into an
leaseback of equipment, the issuance of shares of
agreement for industrial development bond financing
stock and prepayments of outstanding debt.
in the aggregate principal amount of $1,300,000 with
annual principal installments ranging from $74,000
At May 31, 1991, future maturities of long-term debt
to $321,000 commencing on June 1, 1991, with inter-
were as follows (in thousands):
est at 98% of the prime rate through June 1, 1999.
1992
$ 426
These bonds were retired during May 1991.
1993
429
On June 1, 1989, the Company entered into an
1994
432
agreement for industrial development bond financing
1995
436
in the aggregate principal amount of $835,000 with
1996
440
annual principal installments ranging from $26,000
Thereafter
2,672
to $522,000 commencing on June 1, 1991, with
Total maturities
$4,835
interest at 10% through June 1, 1994, and then at
98% of the prime rate through June 1, 1999. As of
both May 31, 1991 and 1990, $835,000 was outstanding.
22
Outlook Graphics Corp. and Subsidiary
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)
NOTE F-STOCKHOLDERS' EQUITY
NOTE H-INCOME TAXES
On August 2, 1990, the stockholders adopted
The provision for income taxes consists of the
Restated Articles of Incorporation of the Company
following (in thousands):
which increased the authorized number of shares of
1991
1990
1989
Common Stock from 2,000,000 to 15,000,000 shares.
Also authorized were 1,000,000 shares of Cumulative
Currently payable
Preferred Stock. The Board of Directors declared a
Federal
$1,288
$ 939
$206
2.75-for-1 stock split effected in the form of a 175%
State
312
223
45
stock dividend payable with respect to shares of
1,600
1,162
251
Common Stock outstanding on August 3, 1990, with
Deferred (related to)
resulting fractional interests paid in cash. A 3-for-2
Tax over book depreciation
394
436
199
stock split effected in the form of a 50% stock divi-
Capital lease-tax
199
-
-
dend was distributed to stockholders of record on
Installment sale
(10)
(51)
(25)
September 1, 1989. An amount equal to the par value
Allowance for doubtful
of the common shares issued was transferred from
accounts
(5)
(34)
(22)
additional paid in capital to the Common Stock
Inventory capitalization
(51)
3
(18)
account. These transfers have been reflected in the
Other, net
(15)
(11)
(11)
consolidated statement of stockholders' equity at
512
343
123
May 31, 1988. All share and per share amounts
included in the financial statements and notes are
$2,112
$1,505
$374
based on the increased number of shares giving
retroactive effect to these stock splits.
The effective tax rates for the years ended May 31,
1991, 1990 and 1989, were 38.6%, 38.5% and 36.4%
In May 1991, the Company completed an initial public
respectively. The variation between the effective rate
offering in which it issued 1,561,372 shares of Common
and the statutory federal income tax rate is a result
Stock at a price to the underwriters of $10.69 per
of the following, expressed as a percentage of pre-tax
share. The proceeds of the offering to the Company,
income:
after deducting all associated costs, were $16,211,000.
1991
1990
1989
Statutory federal
NOTE G-EMPLOYEE BENEFIT PLANS
income tax
34.0%
34.0%
34.0%
State income taxes
EMPLOYEE STOCK PURCHASE PLAN
net of federal income
Effective February 1990, the Company's employee
tax benefit
5.2
5.2
5.2
stock purchase plan was suspended. Under the plan,
39.2
39.2
39.2
employees were given the opportunity to purchase
shares of the Company's Common Stock at prices
Increase (decrease) in
income taxes
determined by the Board of Directors and approved
General business credits
by the stockholders. The purchase price was
(.2)
(.8)
(2.1)
Other
(.4)
.1
intended to reflect the fair value of the Company's
(.7)
stock at the time of the purchase.
38.6%
38.5%
36.4%
EMPLOYEE SAVINGS PLAN
The Company offers a 401 (k) savings plan for all
employees that meet certain eligibility requirements.
Employee contributions to the plan are made
through payroll deductions. In addition, the
Company matches 25% of the first 6% of each
employee's compensation deferral. Employer match-
ing contributions under the 401 (k) plan for the years
ended May 31, 1991, 1990 and 1989 totaled $51,000,
$34,000 and $23,000, respectively.
23
Outlook Graphics Corp. and Subsidiary
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)
NOTE I-STOCK OPTIONS
Company's other stock option plans except that any
stock options outstanding under such plans shall con-
In the fiscal year ended May 31, 1985, the stockhold-
tinue in effect until they have been exercised or have
ers approved an incentive stock option plan under
expired or otherwise terminated. No options had been
which 84,662 shares of Common Stock were available
granted under the 1990 Plan as of May 31, 1991.
for issuance. Options were granted at market value
on the date of grant, but not less than the employee
Options outstanding under the Company's stock
stock purchase plan price. The options were exercis-
option plans have been considered in the computa-
able from the date of grant and terminate three years
tion of the weighted average number of shares
from date of grant.
outstanding used to calculate net earnings per share.
Transactions for the last three fiscal years are as follows:
1991
1990
1989
NOTE J-COMMITMENTS
Options outstanding,
At May 31, 1990, the Company conducted a portion of
beginning of year
4,125
12,375
16,500
its operations in leased facilities under an operating
Granted
-
-
-
lease which would have expired in October 1991. In
Exercised
(4,125)
(8,250)
-
November 1990, a new operating lease was executed
Expired
-
- (4,125)
which expires in November 1998. The Company is
Options outstanding,
responsible for all taxes, insurance and maintenance
end of year
-
4,125
12,375
costs and has an option to purchase the property
Option price range
which expires November 30, 1992. The Company also
at May 31
$2.30 $1.94-
leases equipment under a noncancellable operating
$2.30
lease which expires in December 1996.
In April 1990, the Company acquired certain addi-
On August 17, 1989, the stockholders approved an
tional equipment, at a cost of $1,162,000, and agreed
incentive stock option plan under which 55,000
with a financial institution to a sale and leaseback of
shares of Common Stock were available for issuance.
that equipment. The terms of this sale and leaseback
Options were granted at market value as set for the
arrangement were finalized, and the transaction con-
employee stock purchase plan plus $.18. Options are
summated, in August 1990. The Company did not
exercisable on the date of grant and terminate three
realize or recognize any gain or loss resulting from
years from date of grant.
the transaction. The operating lease expires in
Transactions are as follows:
August 1997.
1991
1990
During the year ended May 31, 1991, the Company
acquired certain additional equipment at a total cost
Options outstanding,
of $3,926,000. On March 21, 1991, the equipment was
beginning of year
48,125
-
sold at its cost and is being leased back by the
Granted
I
48,125
Company through March 1995. The Company did not
Exercised
-
-
realize or recognize any gain or loss resulting from
Expired
4,125
-
the transaction.
Options outstanding,
end of year
44,000
48,125
The following is a schedule, by fiscal years, of the
rental payments due under these leases, as of May 31,
Option price
$3.09
$3.09
1991, (in thousands):
On August 2, 1990, the stockholders also approved
1992
$1,329
the 1990 Stock Option Plan (the "1990 Plan"). Options
1993
1,313
may be granted under the 1990 Plan through May 31,
1994
1,313
2000, to key salaried employees, including officers.
1995
3,162
The 1990 Plan provides for a maximum issuance of
1996
631
200,000 shares of Common Stock. The exercise price
Thereafter
820
for options granted may not be less than the quoted
Total
$8,568
market price on the date of the grant. Options may
not be exercised for at least six months after the
Rent expense for the years ended May 31, 1991, 1990 and
date of the grant except in the event of death or dis-
1989, was $705,000, $330,000 and $52,000 respectively.
ability. The 1990 Plan supersedes and replaces the
The Company had agreements to purchase additional
equipment for approximately $1,728,000 at May 31, 1991.
24
Outlook Graphics Corp. and Subsidiary
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)
NOTE K-BUSINESS ACQUISITION
NOTE -MAJOR CUSTOMERS
In February 1989 the Company acquired Outlook
During the years ended May 31, 1991, 1990 and 1989,
Label, effective for financial reporting purposes as of
the Company had sales to major customers. A major
January 1, 1989. Certain stockholders and directors
customer is defined as a customer that accounts for
of the Company were also noncontrolling stockholders
more than 10% of a company's net sales. Sales to
and directors of Outlook Label and held interests
these customers amounted to the following percent-
in the related partnership referred to below. The
ages of the Company's net sales:
stockholders of Outlook Label received 536,245
1991
1990
1989
shares of the Company's Common Stock in exchange
for all of the outstanding shares of Outlook Label.
Impel Marketing
23%
0%
0%
In addition, the Company purchased certain assets
Fleer Corp.
15
5
0
and assumed certain liabilities from a partnership,
Kellogg Company
1
15
22
related through common ownership to Outlook
Label, for $250,000.
National Football League
Properties, Inc.
0
12
0
The acquisition was accounted for as a purchase and
Banta Corporation
5
9
17
the excess of the cost over the fair value of the net
assets acquired was $585,000, which is being amor-
tized over a period of 20 years using the straight-line
method. The consolidated results of operations
include the operations of Outlook Label from
January 1, 1989.
The unaudited consolidated results of operations on
a pro forma basis as though Outlook Label had been
acquired on June 1, 1988, are as follows:
Pro forma
year ended
May 31, 1989
Net sales (in thousands)
$19,824
Net earnings (in thousands)
$ 534
Net earnings per share
$.15
25
Outlook.Graphics Corp. and Subsidiary
STATEMENT OF MANAGEMENT RESPONSIBILITY FOR FINANCIAL STATEMENTS
The consolidated financial statements and accompany-
Oversight of management's financial reporting and
ing information were prepared by and are the
internal accounting control responsibilities is
responsibility of management. The statements were pre-
exercised by the Board of Directors, through an
pared in conformity with generally accepted accounting
Audit Committee which consists solely of outside
principles and, as such, include amounts that are based
directors. The committee meets periodically with
on management's best estimates and judgments.
financial management and the independent
The internal control systems are designed to provide
accountants to ensure that each is meeting its
reliable financial information for the preparation of
responsibilities and to discuss matters concerning
financial statements, to safeguard assets against loss
auditing, internal accounting control and financial
or unauthorized use and to ensure that transactions
reporting. The independent accountants have free
access to meet with the Audit Committee without
are executed consistent with company policies and
procedures. Management believes that existing inter-
management's presence.
nal accounting control systems are achieving their
objectives and that they provide reasonable assurance
concerning the accuracy of the financial statements.
claved L. Endian
Jefrey
David L. Erdmann
Jeffrey P. Stilp
Chairman and President
Treasurer and Controller
REPORT OF INDEPENDENT CERTIFIED PUBLIC ACCOUNTANTS
Board of Directors and Stockholders
Outlook Graphics Corp. and Subsidiary
We have audited the accompanying consolidated bal-
audit includes examining, on a test basis, evidence
ance sheets of Outlook Graphics Corp. (a Wisconsin
supporting the amounts and disclosures in the finan-
corporation) and Subsidiary as of May 31, 1991 and
cial statements. An audit also includes assessing the
1990, and the related consolidated statements of
accounting principles used and significant estimates
earnings, stockholders' equity and cash flows for
made by management, as well as evaluating the over-
each of the three years in the period ended May 31,
all financial statement presentation. We believe our
1991. These financial statements are the responsibil-
audits provide a reasonable basis for our opinion.
ity of the Company's management. Our responsibility
is to express an opinion on these financial state-
In our opinion, the financial statements referred to
ments based on our audits.
above present fairly, in all material respects, the con-
solidated financial position of Outlook Graphics
We conducted our audits in accordance with gener-
Corp. and Subsidiary as of May 31, 1991 and 1990, and
ally accepted auditing standards. Those standards
the consolidated results of their operations and their
require that we plan and perform the audit to obtain
consolidated cash flows for each of the three years in
reasonable assurance about whether the financial
the period ended May 31, 1991, in conformity with
statements are free of material misstatement. An
generally accepted accounting principles.
Grant Thornton
Appleton, Wisconsin
June 27, 1991
26
QUARTERLY DATA (UNAUDITED)
The following table sets forth unaudited selected quarterly financial information for each of the two most recent
fiscal years:
Quarter
First
Second
Third
Fourth
Total
Fiscal Year Ended May 31,
1991
(in thousands, except per share amounts)
Net sales
$8,813
$9,989
$12,344
$12,129
$43,275
Gross profit
2,497
2,424
2,235
3,712
10,868
Net earnings
735
701
1,011
907
3,354
Earnings per share
.21
.20
.29
.23
.92
1990
Net sales
$7,465
$9,443
$7,957
$6,900
$31,765
Gross profit
2,249
2,672
2,234
1,597
8,752
Net earnings
674
792
619
324
2,409
Earnings per share
.20
.23
.18
.09
.69
MARKET PRICES AND DIVIDENDS
The Company's Common Stock has been quoted on the NASDAQ National Market System since the Company's
initial public offering of Common Stock, at $11.50 per share, on April 24, 1991. Prior to that date, there was no
established public trading market for the Common Stock. The following table sets forth high and low sales prices
as reported on the NASDAQ National Market System since April 24, 1991, for the indicated fiscal year periods.
High
Low
Fiscal 1991: Fourth Quarter (April 24, 1991 to May 31, 1991)
$13/2
$10/4
Fiscal 1992: First Quarter (June 1, 1991 to August 9, 1991)
$13%
$103/4
The Company has not paid any cash dividends since its inception. The Company presently intends to employ
its earnings in the continued development and expansion of its business and does not expect to pay any cash
dividends in the foreseeable future. The Company may not pay cash dividends under various existing lending
agreements without the lenders' consents so long as such agreements remain outstanding; for a description of
dividend restrictions, see Note E of Notes to Consolidated Financial Statements. Future dividend policy will
depend on the Company's earnings, capital requirements, borrowing agreements, financial conditions and
other factors considered relevant by the Board of Directors.
As of August 9, 1991, there were 754 shareholders of record of Common Stock.
27
OUTLOOK GRAPHICS CORP.
DIRECTORS
Wayne G. Beattie, 42, (1)
Roger G. Hathaway, 63 (1)(2)(3)
Charles E. Thompson, 47 (1)
Secretary and Salesperson
Retired Vice President-
Executive Vice President
Outlook Graphics Corp.
Human Resources
Outlook Graphics Corp.
Neenah Foundry Company
James L. Dillon, 46, (2) (3)
(manufacturer of construction
A. John Wiley, Jr., 48 (4)
Accountant
and industrial castings)
Salesperson
DiRenzo, Simonis & Miller,
Outlook Graphics Corp.
Certified Public Accountants
George P. Mueller, 69 (2)(3)(4)
Chairman
COMMITTEES
David L. Erdmann, 48, (1)
Integrated Paper Services, Inc.
OF THE BOARD
Chairman and President
(pulp and paper making services)
(1) Executive
Outlook Graphics Corp.
(2) Audit
Lawrence C. Silton, 49 (2) (3)
(3) Compensation
Attorney
(4) Alternate member of
Patterson, Jensen, Wylie, Silton
Executive Committee
& Seifert, S.C.
OFFICERS
David L. Erdmann, 48
Jeffry H. Collier, 38
Chairman and President
Vice President-Manufacturing
Charles E. Thompson, 47
Jeffrey P. Stilp, 33
Executive Vice President
Treasurer and Controller
Wayne G. Beattie, 42
Secretary
CORPORATE INFORMATION
CORPORATE HEADQUARTERS
TRANSFER AGENT
STOCKHOLDER/INVESTOR
Outlook Graphics Corp.
AND REGISTRAR
INFORMATION CONTACT
1180 American Drive
First Wisconsin Trust Company
For additional information on the
Neenah, Wisconsin 54956
615 E. Michigan Street
Company, please contact the
(414) 722-2333
P.O. Box 2077
stockholder services department
Milwaukee, WI 53201-2077
at the Company address.
STOCK EXCHANGE LISTING
(414) 287-3900
NASDAQ National Market System
(800) 637-7549
ANNUAL MEETING
Symbol: OUTL
The annual meeting of
Newspaper abbreviations:
FORM 10-K REPORT
stockholders of Outlook Graphics
OutGraph, OutlkGraph
Single copies of the annual report
Corp. will be held on
on Form 10-K as filed with the
Thursday, October 10, 1991,
INDEPENDENT CERTIFIED
Securities and Exchange
at 7:00 p.m. at the Paper Valley
PUBLIC ACCOUNTANTS
Commission are available to
Hotel & Conference Center,
Grant Thornton
stockholders without charge.
333 W. College Avenue,
Appleton, Wisconsin
To obtain a copy, contact the
Appleton, Wisconsin.
stockholder services department
LEGAL COUNSEL
at the Company address.
Quarles & Brady
Milwaukee, Wisconsin
28
Og
OUTLOOK GRAPHICS CORP.
1180 American Drive
Neenah, WI 54956
(414) 722-2333 :