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 CLEVELAND (AP) - American Greetings Corp. said Thursday that its first quarter profit nearly doubled from a year ago on strong sales of greeting cards designed to be more personal.
Its shares rose $1.86, or 7.4 percent, to $26.99 Thursday, after setting a one-year high of $27.79 earlier in the day. The shares have been as low as $20.65 in the past year.
The company made $30 million, or 54 cents per share, for the quarter ended May 25 compared with earnings of $15.4 million, or 24 cents per share, a year ago. Sales rose to $418 million in the quarter from $404.2 million a year ago.
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