Day Runner Prepares Reverse Stock Split

Day Runner Inc., the struggling maker of daily organizers and planners, said Friday that its board of directors authorized a 1-for-5 reverse split of the company’s stock. Under the reverse split, the Fullerton company would turn its total of more than 11.9 million shares outstanding into nearly 2.4 million shares. Day Runner said in a press release that it took the action to comply with Nasdaq listing requirements and “maintain its current listing.” The company’s stock, which traded as high as $13.75 in the last year, closed Friday at $1.03, off 6 cents. Day Runner announced the reverse split after the market closed.