Paperclips Blog | NewPage Results

07.27.2012
Vistaprint Reports Fourth Quarter and Fiscal Year 2012 Financial Results

Vistaprint N.V., a leading online provider of professional marketing products and services to micro businesses and the home, today announced financial results for the fourth quarter and fiscal year ended June 30, 2012.

Revenue for the fourth quarter of fiscal year 2012 grew to $250.4 million, a 20 percent increase over revenue of $208.8 million reported in the same quarter a year ago. Excluding Albumprinter and Webs combined revenue of $15.4 million, total fourth quarter revenue was $235.0 million. For the full fiscal year, revenue grew to $1,020.3 million, a 25 percent increase over revenue of $817.0 million in fiscal year 2011. Excluding the estimated impact from currency exchange rate fluctuations and revenue from acquired businesses, total revenue grew 17 percent year over year in the fourth quarter and 20 percent for the full year.
• Gross margin (revenue minus the cost of revenue as a percent of total revenue) in the fourth quarter was 64.6 percent, compared to 63.9 percent in the same quarter a year ago. For the full fiscal year, gross margin was 65.2 percent, compared to 64.8 percent in fiscal year 2011.
• Operating income in the fourth quarter was $5.1 million, or 2.0 percent of revenue, and reflected a 70 percent decrease compared to operating income of $17.0 million, or 8.1 percent of revenue, in the same quarter a year ago. For the full fiscal year, operating income was $55.2 million, or 5.4 percent of revenue, a 41 percent decrease compared to operating income of $93.1 million, or 11.4 percent of revenue, in the prior fiscal year.

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07.27.2012
Wausau Paper to Market Metsä Tissue’s Premium Pan Liners to North American Commercial Baking Industry

Wausau Paper and Metsä Tissue Corporation, part of Metsä Group based in Espoo, Finland, today announced a definitive multi-year agreement through which Wausau Paper will be the main North American distributor for Metsä Tissue’s line of silicone-coated pan liners, marketing these products under the Wausau Paper ProRedi® brand of commercial baking papers.

Wausau’s Paper segment is a manufacturer of technical specialty papers for the Food, Tape & Industrial, and Coated & Liner sectors. The Company is a leader in North American commercial food preparation, packaging and service segments. Its extensive line of specialty baking papers includes the Eco Select™ pan liner, winner of a 2011 Baking Management Innovation Award for Packaging and Handling products. With the addition of Metsä Tissue’s premium silicone-coated pan liners, Wausau’s ProRedi® family of products now offers North American baking professionals the broadest range of baking release papers, combining high-temperature non-char performance with superior release qualities suitable for all premium applications.

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07.27.2012
U.S. Postal Service Releases Sustainability and Energy Scorecard

The U.S. Postal Service recently presented its Sustainability and Energy Scorecard to the Office of Management and Budget (OMB). The OMB Sustainability and Energy Scorecard is a reporting tool that federal government agencies use to publicly report progress against their sustainability goals.

“The Postal Service is committed to being a sustainability leader and our scorecard results demonstrate great progress toward sustainability goals including reducing energy and potable water intensity, and greenhouse gas emissions,” said Chief Sustainability Officer, Thomas G. Day.

Progress noted in USPS’ OMB Sustainability and Energy Scorecard includes the following reductions:
•Facility energy intensity — 22.4 percent toward a 30 percent reduction goal by fiscal year (FY) 2015, from a 2003 baseline.
•Potable water intensity — 18.5 percent toward a 26 percent goal by FY 2020, from a 2007 baseline.
•Greenhouse gas emissions—16.1 percent in 2011 toward a 20 percent reduction goal by FY 2020, from a 2008 baseline.

In order to reduce energy and water intensity — measured as usage per square foot — the Postal Service uses sustainable features in its buildings, including high efficiency lighting, recycled building materials, solar energy systems and low water use fixtures. The agency has one green roof in New York City and is adding another in Syracuse, NY. These green roofs will help the Postal Service save energy and reduce pollutants in storm water runoff.
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07.27.2012
Tembec reports financial results for its third quarter ended June 23, 2012

Consolidated sales for the three-month period ended June 23, 2012, were $415 million, as compared to $448 million in the comparable period of the prior year. The Company generated a net loss of $5 million or $0.05 per share in the June 2012 quarter compared to net earnings of $17 million or $0.17 per share in the June 2011 quarter. Operating earnings before depreciation, amortization and other items (adjusted EBITDA) was $27 million for the three-month period ended June 23, 2012, as compared to adjusted EBITDA of $33 million a year ago and adjusted EBITDA of $2 million in the prior quarter.

The Specialty Cellulose and Chemical Pulp segment generated adjusted EBITDA of $18 million on sales of $167 million for the quarter ended June 23, 2012, compared to adjusted EBITDA of $31 million on sales of $176 million in the prior quarter. Sales decreased by $9 million primarily as a result of lower shipments.

The Paper segment generated adjusted EBITDA of $9 million on sales of $86 million for the quarter ended June 2012, compared to adjusted EBITDA of $4 million on sales of $79 million in the prior quarter. Higher coated bleached board and newsprint shipments caused the $7 million increase in sales. In terms of market, coated bleached board was stable. Newsprint also remained stable despite continued weaker North American demand statistics. The US $ reference prices for coated bleached board and for newsprint were unchanged. Overall, prices were unchanged quarter-over-quarter. Coated bleached board shipments were equal to 96% of capacity as compared to 86% in the prior quarter. The shipment to capacity percentage for newsprint was 87%, compared to 85% in the prior quarter. Manufacturing costs at the coated bleached board facility declined by $2 million primarily as a result of higher productivity as the mill produced 9% more tonnes. Manufacturing costs at the newsprint mill declined by $1 million, primarily due to lower energy costs.

The High-Yield Pulp segment generated adjusted EBITDA of $5 million on sales of $101 million for the quarter ended June 23, 2012, compared to negative adjusted EBITDA of $16 million on sales of $77 million in the prior quarter. Sales increased by $24 million based on a combination of higher shipments and prices. Market conditions for high-yield pulp remained weak in the most recent quarter. While the US $ reference prices for bleached eucalyptus kraft (BEK) increased over the prior quarter by US $62 per tonne, it did so from a very low price. The increase did not carry over fully to high-yield pulp as price compression had occurred previously and the BEK increase served to re-establish the normal differential in pricing.

The Forest Products segment generated negative adjusted EBITDA of $2 million on sales of $86 million for the quarter ended June 23, 2012, compared to negative adjusted EBITDA of $11 million on sales of $112 million in the prior quarter. The sale of the Company’s two B.C. sawmills at the end of the prior quarter had a significant impact on sales. The sawmills had shipped 91 million board feet of lumber in the prior quarter and had generated lumber, chip and by-product revenues of $44 million.

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07.27.2012
Weyerhaeuser Reports Second Quarter Results

Weyerhaeuser Company today reported net earnings of $84 million for the second quarter, or 16 cents per diluted share, on net sales of $1.8 billion. This compares with net earnings of $10 million on net sales from continuing operations of $1.6 billion for the same period last year.

2Q 2012 Performance - Timberlands - The segment's earnings increased $7 million compared with the first quarter, primarily due to seasonally higher fee harvest in the West and South and increased demand for domestic and export logs. Average selling prices for export logs declined, and domestic prices for Western and Southern logs rose slightly.

3Q 2012 Outlook - Weyerhaeuser expects comparable earnings from the Timberlands segment in the third quarter. The company expects higher earnings from the disposition of non-strategic timberlands, partially offset by lower domestic selling prices for Western logs and a decline in Southern log price realizations due to mix.

2Q 2012 Performance - Wood Products - Results before special items improved $43 million compared with the first quarter, primarily due to higher selling prices for lumber and oriented strand board and operational improvements. Lumber prices increased 13 percent, and prices for oriented strand board improved 9 percent. Sales volumes increased substantially.

Special items for the second quarter include a $6 million pre-tax gain on the sale of property.

3Q 2012 Outlook - Weyerhaeuser anticipates lower earnings from the Wood Products segment in the third quarter. The company expects comparable sales volumes for most products and seasonally lower selling prices for lumber.

2Q 2012 Performance - Cellulose Fibers - The segment's earnings declined $12 million. Average selling prices for pulp were approximately flat compared with first quarter. Planned maintenance costs increased and sales volumes declined due to timing of shipments and reduced pulp production resulting from operational issues experienced during the quarter. First and second quarter each included two scheduled annual maintenance outages.

3Q 2012 Outlook - Weyerhaeuser expects significantly higher earnings from the Cellulose Fibers segment in the third quarter. The company anticipates improved productivity, lower annual maintenance expense, and reduced chemical, energy and fiber costs, partially offset by slightly lower selling prices for pulp.

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07.27.2012
GNC Holdings, Inc. Reports Second Quarter 2012 Results

GNC Holdings, Inc., a leading global specialty retailer of health and wellness products, today reported its financial results for the quarter and year-to-date period ended June 30, 2012.

For the second quarter of 2012, the Company reported consolidated revenue of $619.1 million, an increase of 19.4% over consolidated revenue of $518.5 million for the second quarter of 2011. Revenue increased in each of the Company's segments: retail by 19.3%, franchise by 25.0%, and manufacturing/wholesale by 10.7%. Same store sales increased 12.9% in domestic company-owned stores (including GNC.com sales), representing the Company's 28th consecutive quarter of positive same store sales growth. In domestic franchise locations, same store sales increased 15.8%.

Adjusted EBITDA, which the Company defines as net income before interest, income taxes, depreciation, amortization, sponsor obligation payments, transaction related costs and executive severance, for the second quarter of 2012 was $129.1 million, a $41.5 million, or 47.4%, increase over adjusted EBITDA of $87.6 million for the second quarter of 2011. Adjusted EBITDA was 20.8% of revenue for the second quarter of 2012, compared to 16.9% for the second quarter of 2011.

For the second quarter of 2012, the Company reported net income of $66.7 million, compared to $36.0 million for the second quarter of 2011. Net income for the second quarter of 2011 included non-recurring expenses associated with executive severance and a partial repayment of the Company's Term Loan Facility with a portion of the proceeds from the IPO. Excluding these 2011 expenses and the related tax impact, net income for the second quarter of 2012 increased $25.4 million or 61.5% over adjusted net income of $41.3 million for the second quarter of 2011. Earnings per share were $0.62 for the second quarter of 2012, a 59.0% increase over adjusted earnings per share of $0.39 for the second quarter of 2011.

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07.27.2012
Cataloger plants mobile seeds to reduce expenditures

Usually retailers build mobile commerce sites to make money. Appleseed’s, a division of Orchard Brands, created mobile sites for its three brands to save money. Parent company Orchard Brands built m-commerce sites for others of its brands, as well, all aimed at taking advantage of a U.S. Postal Service promotion. For $299 a month per m-commerce site, Orchard Brands has saved hundreds of thousands of dollars in postage costs.

Here’s how it works. The U.S. Postal Service is running a summer promotion that gives a 3% postage discount to retailers that include two-dimensional bar codes such as QR codes in their catalogs or other mailers that link to the mobile web. QR codes when scanned by a smartphone with a free 2-D bar code reader app link a smartphone user to mobile web-based content such as a video or a mobile-optimized product page.

Appleseed’s wanted to take advantage of the discount. It mails more than 60 million catalogs a year for its AppleSeeds, TogShop and LinenSource brands. So it examined the offerings of some m-commerce technology providers and decided on mShopper. It chose the vendor because it concluded mShopper could build m-commerce sites quickly and inexpensively, the merchant’s two key considerations. The vendor launched the sites in late June and early July.
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07.27.2012
ABC Raises Fees, Defers Reporting Actions

The Audit Bureau of Circulations (ABC) is making strategic changes to its reporting requirements and will be raising fees by 3 percent before the end of the year.

ABC’s board voted to defer implementation of a new publisher’s statement that would have expanded how consumer magazines report metrics for digital publications, and those that require larger magazines to report issue-by-issue data through ABC’s Rapid Report tool until new digital reporting requirements have been vetted further.

“There were a number of announcements that came out of our March board meeting that spoke to what we call our vision task force that has been working in the magazine side of our business,” says Neal Lulofs, EVP of communications & strategic planning, GM ABC Interactive. “It has been publishers, advertisers and ad agencies and they outlined a broad vision for where we would be moving with regard to auditing and reporting, especially in the digital realm. It encompassed reporting broader digital metrics within ABC audit reports.”

As previously reported by Folio: sister pub Audience Development, the new Publisher’s Statement requires publishers to report the number of unique browsers or devices accessing their digital magazines, as well as total visits and average visit duration. The reports will also call for greater detail on print and digital magazine subscriptions and single-copy sales.

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07.27.2012
Deluxe Reports Second Quarter 2012 Financial Results

Deluxe Corporation announced its financial results for the second quarter ended June 30, 2012.

Second Quarter 2012 Highlights:
• Revenue for the quarter was $371.0 million compared to $346.3 million during the second quarter of 2011. Revenue increased 7.1% compared to 2011, driven by 14.8% growth in Small Business Services. Marketing solutions and other services revenue increased 29.9% compared to 2011 and represented 17.5% of consolidated revenue, up from 14.4% in the second quarter of 2011.
• Gross margin was 65.6 percent of revenue compared to 65.1 percent in 2011. Favorable impacts from price increases and the Company’s continued cost reduction initiatives more than offset increased delivery rates, material costs and performance based compensation expense in 2012.
• Operating income in 2012 was $73.6 million compared to $64.0 million in the second quarter of 2011. Restructuring and transaction-related costs were $2.3 million in 2012 versus $5.0 million in 2011. These costs were primarily attributable to the Company’s on-going cost reduction initiatives. Operating income was 19.8 percent of revenue compared to 18.5 percent in the prior year driven primarily by higher revenue per order and continued cost reductions.

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07.27.2012
Facebook ads around 84% of total revenue

Facebook Inc. published its Q2 2012 earnings report July 26, showing a 32% increase in revenue to $1.18 billion, with growth in users from 901 million to 955 million, said COO Sheryl Sandberg in the company earnings call. Sandberg says that in Q2, Facebook reported its advertising revenue at $992 million – about 84% of its total revenue as of Q2, and a 28% increase from the same quarter last year.

Part of the boost is due to the "encouraging results" of Facebook's expanded rollout of sponsored ads in newsfeed stories, says Sandberg, adding that that these types of advertisements perform better than ads than the site's traditional right column ads.

“Newsfeed functions in the same way on desktop [as it does on] mobile so with the Newsfeed, marketing [is seamless],” said Sanberg, “We have partnered with Nielsen to show that in a study of over 500 ad campaigns, Facebook drives 31% more brand awareness than non-Facebook ads.” She added that “the best type of advertising is a message from a friend.”

Facebook noted in its earnings report that it has “independent ROI data” from more than 60 ad campaigns on the platform, which show that 70% of campaigns resulted in a return on ad spend of three times or better, and 49% of campaigns showed a return on ad spend of five times or better.

Other efforts in Facebook advertising, Sandberg noted, include “rolling out new ad products, demonstrating ROI of ad spend, and making it easier for advertisers to work with us.” Getting small to medium size businesses to become comfortable with advertising on Facebook is a prime priority at present, Sandberg stated.

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07.27.2012
AAA Fuel Gage & Exchange Rates

AAA’s Fuel Gage Report as of 7/27/12
National Unleaded Regular:
Current Average - $3.488/gallon
Month Ago Average - $3.383/gallon
Year Ago Average - $3.698/gallon
Highest Recorded Average - $4.114/gallon on 7/17/08
Diesel:
Current Average - $3.768/gallon
Month Ago Average - $3.691/gallon
Year Ago Average - $3.961/gallon
Highest Recorded Average - $4.845/gallon on 7/17/08

Current Exchange Rates as of 7/26/12
American Dollar to Canadian Dollar = 0.992231 (120 day high - 1.01905 on April 26, 2012; low 0.961252 on June 5, 2012)
American Dollar to Chinese Yuan = 0.156611 (120 day high – 0.159363 on May 2, 2012; low 0.156521 on July 13, 2012)
American Dollar to Euro = 1.226 (120 day high - 1.3454 on February 28, 2012; low 1.2089 on July 24, 2012)
American Dollar to Japanese Yen = 0.0127988 (120 day high – 0.0128855 on February 13, 2012; low 0.0119026 on March 21, 2012)
American Dollar to Mexican Peso = 0.0742054 (120 day high – 0.0793808 on March 14, 2012; low 0.0691788 on June 1, 2012)

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07.27.2012
Oil Rises for Third Day on U.S. Economy, Euro Pledge

Oil rose for a third day as U.S. reports on durable goods and jobless claims reduced concern that economic growth is slowing, and the head of the European Central Bank pledged that the euro will survive.

Prices gained 0.5 percent as bookings for goods meant to last at least three years climbed more than projected in June and fewer Americans than forecast filed first-time claims for unemployment insurance payments last week. ECB President Mario Draghi said policy makers will do whatever is needed to preserve the European common currency.

“The bullish economic news is the main thing pushing oil prices up, and it does look a little more like we are seeing a turnaround in the economy,” said Michael Lynch, president of Strategic Energy & Economic Research in Winchester, Massachusetts. “Draghi said they are going to defend the euro and it gave the market more confidence.”

Crude for September delivery rose 42 cents to settle at $89.39 a barrel on the New York Mercantile Exchange. Prices have increased 15 percent from the year’s closing low of $77.69 a barrel on June 28.

Brent oil for September settlement climbed 88 cents, or 0.8 percent, to end the session at $105.26 a barrel on the London- based ICE Futures Europe exchange.

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07.27.2012
Congress to investigate data sellers

A group of U.S. representatives has opened an investigation of companies that collect and sell marketing databases and sales contact lists.

On Wednesday, Reps. Edward J. Markey (D-Mass.) and Joe Barton (R-Texas) sent letters to Acxiom Corp., Epsilon, Equifax Inc., Experian, Harte-Hanks, Intelius Inc., Fair Isaac Corp. (FICO), Merkle Inc. and Meredith Corp., requesting such information as the sources of the data they collect; racial, ethnic or religious information collected; methods of data collection, such as social media or mobile usage; and consumer data access and opt-out methods. The letters requested information from 14 detailed and separate categories.

Other signatories on the letters include Reps. Henry A. Waxman (D-Calif.), Steve Chabot (R-Ohio), G.K. Butterfield (D-N.C.), Austin Scott (R-Ga.), Bobby Rush (D-Ill.) and Jan Schakowsky (D-Ill.).

In addition to probing for privacy issues related to behaviorally targeted advertising, the representatives said they are troubled that data rankings of prospects "classify some people as high-value prospects ... while dismissing others as low-value." They claim the practice could restrict access to education, healthcare and employment.

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07.27.2012
Aptar Group Reports Second Quarter Results

AptarGroup, Inc. today reported second quarter results and announced that the Board of Directors declared a quarterly dividend.

For the quarter ended June 30, 2012, reported sales declined 6% to $578 million from $615 million a year ago. AptarGroup estimates that changes in currency exchange rates negatively impacted sales by approximately 8% in the quarter.

Commenting on the quarter, Stephen Hagge, President and CEO, said, “The diversity of our business enabled us to grow core sales in a challenging environment. Broad-based softness in Europe affected each of our business segments as the economic uncertainty there resulted in reduced consumer spending and increased caution by certain customers. Offsetting part of this weakness was strong demand from customers in Latin America and Asia.”

Hagge stated, “We are very pleased with the growth we are seeing in Asia and Latin America. Even with the challenges presented by some of the economic uncertainties in Europe and the U.S., we grew consolidated sales excluding currency effects by 4% over the prior year’s strong level.”

Year-to-date reported sales decreased 2% to $1.17 billion from $1.19 billion a year ago. Changes in exchange rates negatively impacted sales by approximately 6%. Reported diluted earnings per share, which included a negative impact of $0.06 per share related to Stelmi acquisition costs, decreased 9% to $1.24 per share compared to $1.37 per share a year ago. If the 2012 exchange rates were in place in 2011, AptarGroup estimates that the earnings per share for the first six months of 2011 would have been approximately $1.30 per share.

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07.27.2012
Amazon.com Announces Second Quarter Sales up 29% to $12.83 Billion

Amazon.com, Inc. today announced financial results for its second quarter ended June 30, 2012.

Operating cash flow was $3.22 billion for the trailing twelve months, compared with $3.21 billion for the trailing twelve months ended June 30, 2011. Free cash flow decreased 40% to $1.10 billion for the trailing twelve months, compared with $1.83 billion for the trailing twelve months ended June 30, 2011.

Common shares outstanding plus shares underlying stock-based awards totaled 468 million on June 30, 2012, consistent with 468 million one year ago.

Net sales increased 29% to $12.83 billion in the second quarter, compared with $9.91 billion in second quarter 2011. Excluding the $272 million unfavorable impact from year-over-year changes in foreign exchange rates throughout the quarter, net sales would have grown 32% compared with second quarter 2011.

Operating income was $107 million in the second quarter, compared with $201 million in second quarter 2011. The unfavorable impact from year-over-year changes in foreign exchange rates throughout the quarter on operating income was $8 million.

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07.27.2012
Domtar Corporation reports preliminary second quarter 2012 financial results

Domtar Corporation today reported net earnings of $59 million ($1.61 per share) for the second quarter of 2012 compared to net earnings of $28 million ($0.76 per share) for the first quarter of 2012 and net earnings of $54 million ($1.30 per share) for the second quarter of 2011. Sales for the second quarter of 2012 amounted to $1.4 billion.

Excluding items listed below, the Company had earnings before items1 of $59 million ($1.61 per share) for the second quarter of 2012 compared to earnings before items1 of $61 million ($1.65 per share) for the first quarter of 2012 and earnings before items1 of $98 million ($2.37 per share) for the second quarter of 2011.

Good financial results despite the impact of lack-of-order downtime in paper
(All financial information is in U.S. dollars, and all earnings per share results are diluted, unless otherwise noted.)

Second quarter 2012 net earnings of $1.61 per share, earnings before items1 of $1.61 per share
Year-to-date shipments of specialty and packaging paper increased 12% compared to 2011
Share buybacks totaled $69 million in the second quarter of 2012

First quarter 2012 items:

Premium paid and costs related to the debt repurchase of $50 million ($30 million after tax);
Closure and restructuring costs, including write-down of property, plant and equipment, of $3 million ($2 million after tax); and
Negative impact of purchase accounting of $1 million ($1 million after tax).

Second quarter 2011 items:

Charge of $62 million ($38 million after tax) related to the impairment and write-down of property, plant and equipment;
Net losses on the sale of property, plant and equipment and business of $6 million ($5 million after tax); and
Closure and restructuring costs of $2 million ($1 million after tax).

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07.27.2012
Pearson 2012 half-year results

Sales up 6% to £2.6bn*
Strong growth in Education (up 9%) and the FT Group (up 7%).
Penguin sales 4% lower on phasing of publishing schedule and continued industry change.

First-half operating profit lower, as expected, at £188m (2011: £208m)
Education profits up 6% on growth in North America (up 30%) and International (up 17%).
Professional profits £17m lower. New funding criteria for 16-18 year old apprenticeships result in sharp decline in volumes; UK training business reshaped.
Sale of FTSE International reduces first-half operating profit by £10m; excluding FTSE, FT Group profits level in spite of increased restructuring charge.
Penguin profits lower at £22m (H1 2011: £42m) on drop-through from lower first-half sales; stronger publishing schedule in H2.

Rapid growth in digital and services businesses and developing markets
Sales up approximately 20% in developing markets (headline growth)
Education digital platform registrations up 30%; FT digital subscriptions up 31% and now exceed print circulation; Penguin ebook revenues up 33% and now almost 20% of Penguin’s revenues.
Revenues from digital and services to exceed traditional publishing businesses in 2012.
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07.26.2012
Silgan Announces Second Quarter Earnings

Silgan Holdings Inc., a leading supplier of rigid consumer goods packaging products, today reported second quarter 2012 net income of $10.6 million, or $0.15 per diluted share, as compared to second quarter 2011 net income of $51.2 million, or $0.73 per diluted share. Adjusted net income per diluted share was $0.55 for the second quarter of 2012 as compared to $0.53 for the second quarter of 2011, after adjustments increasing net income per diluted share by $0.40 for the second quarter of 2012 and adjustments decreasing net income per diluted share by $0.20 for the second quarter of 2011. A reconciliation of net income per diluted share to “adjusted net income per diluted share,” a Non-GAAP financial measure used by the Company, which adjusts net income per diluted share for certain items, can be found in Tables A and B at the back of this press release.

“Second quarter 2012 was a bit more challenging than expected as we delivered adjusted net income per diluted share of $0.55,” said Tony Allott, President and CEO. “While we do expect some volume shift between quarters, we were disappointed with our metal food container volumes thus far as the vegetable pack got off to a slow start and we saw a less favorable mix of products sold versus the prior year period due in large part to the timing of shipments. In addition, weaker demand patterns in Europe negatively impacted volumes and pricing in both our metal containers and closures operations. However, our businesses are reacting well to these challenges, and our plastic container business continues to show signs of improvement in its operating performance,” continued Mr. Allott. “Based on our year-to-date performance and despite caution for the second half of the year, at this time we are confirming our full year 2012 earnings estimate of adjusted net income per diluted share in the range of $2.80 to $2.90,” concluded Mr. Allott.

Net sales for the second quarter of 2012 were $821.6 million, a decrease of $0.6 million as compared to $822.2 million in 2011. This decrease was the result of lower net sales over the prior year period in the metal container and closures businesses due primarily to the impact of unfavorable foreign currency translation, partially offset by higher net sales in the plastic container business.

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07.26.2012
Sonoco Outlines Sustainability Progress in its 2011-2012 Corporate Responsibility Report

Sonoco, one of the largest diversified global packaging companies, today released its 2011-2012 Corporate Responsibility Report, outlining the Company's continued progress in achieving its global sustainability targets.

A key initiative for Sonoco is the development of a new $75 million biomass cogeneration system at its Hartsville, S.C., manufacturing complex. This boiler system will be fueled by wood wastes from regional logging activity to produce low-cost steam and "green" energy, primarily for use in the Company's paper mill operations. Once operational in late 2013, the biomass cogeneration system is expected to significantly reduce energy costs, greenhouse gas (GHG) and other air emissions, resulting in annual operating savings of approximately $14 million.

In 2011, Sonoco continued to expand U.S. recycling operations, growing collections by 6 percent with an emphasis on developing new comingled residential material recovery facilities (MRFs). The Company now serves nearly 150 communities and expanded MRFs in Columbia, Charleston and Greenville, S.C., and Charlotte, Raleigh and Jacksonville, N.C.

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07.26.2012
Clearwater Paper Reports Strong Second Quarter 2012 Results

Clearwater Paper Corporation today reported financial results for the second quarter of 2012.

The company reported net earnings of $21.5 million, or $0.91 per diluted share, for the second quarter of 2012, compared to net earnings of $13.9 million, or $0.59 per diluted share, for the second quarter of 2011.

Second quarter 2012 earnings before interest, taxes, depreciation and amortization, or EBITDA, was $64.2 million, compared to $52.4 million in the second quarter of 2011. Second quarter 2012 Adjusted EBITDA, which excludes approximately $1.0 million of legal expenses related to the attempt to enjoin delivery of the TAD tissue machine to the company's Shelby, North Carolina facility and a $1.0 million loss associated with the sale of legacy Cellu Tissue foam manufacturing assets, was $66.2 million.

"Strong Consumer Products and Pulp and Paperboard results produced record quarterly EBITDA," said Gordon Jones, chairman and chief executive officer. "In addition, cost savings synergies from our Cellu Tissue acquisition came in ahead of our estimates in the first two quarters of 2012, and our new paper machine facility in Shelby remains on budget and on time, with production expected to begin by year end."

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07.26.2012
O-I Reports Improved Second Quarter 2012 Results

Owens-Illinois, Inc. today reported financial results for the second quarter ending June 30, 2012.

Second quarter net sales were $1.766 billion in 2012, down from $1.959 billion in the prior year second quarter, primarily due to unfavorable foreign currency translation. Higher pricing in the second quarter was offset by sales volumes that were lower than the prior year quarter.

Net earnings from continuing operations attributable to the Company in the second quarter of 2012 were $134 million, or $0.81 per share (diluted), compared with net earnings from continuing operations in the second quarter of the prior year of $71 million, or $0.42 per share (diluted). Adjusted net earnings (non-GAAP) also were $134 million, or $0.81 per share (diluted), in the second quarter of 2012 as there were no items management considers not representative of ongoing operations. These results compared with second quarter 2011 adjusted net earnings of $98 million, or $0.59 per share (diluted).

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07.26.2012
Ball Reports Improved Second Quarter Results

Ball Corporation today reported second quarter net earnings attributable to the corporation of $139.5 million, or 88 cents per diluted share, on sales of $2.3 billion, compared to $143.1 million, or 84 cents per diluted share, on sales of $2.3 billion in the second quarter of 2011. Results for the first six months of 2012 were net earnings attributable to the corporation of $227.8 million, or $1.42 per diluted share, on sales of $4.3 billion, compared to $234.4 million, or $1.37 cents per diluted share, on sales of $4.3 billion in the first six months of 2011.

Comparable 2012 earnings per diluted share for the second quarter and year-to-date were 89 cents and $1.52, respectively versus second quarter and year-to-date 2011 comparable earnings per diluted share of 85 cents and $1.43, respectively.

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07.26.2012
The McGraw-Hill Companies Reports Record 2nd Quarter and 1st Half Adjusted EPS

The McGraw-Hill Companies today reported revenue of $1,547 million in the second quarter, a decrease of 1% compared to the same period last year, as a result of a 5% increase at McGraw-Hill Financial and a 12% decline at McGraw-Hill Education. Net income from continuing operations increased 2% to $216 million and diluted earnings per share increased 11% to $0.76.

Excluding the impact of one-time costs related to the Growth and Value Plan, adjusted net income from continuing operations increased 15% to $243 million and adjusted diluted earnings per share increased 25% to a second quarter record of $0.85. This increase, similar to the first quarter, was primarily due to strong growth at Commodities & Commercial and S&P Capital IQ / S&P Indices.
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07.26.2012
Kimberly-Clark Announces Second Quarter 2012 Results

Kimberly-Clark Corporation today reported second quarter 2012 results, updated several key full-year planning assumptions and increased its guidance for 2012 adjusted earnings per share.

Executive Summary
•Second quarter 2012 net sales of $5.3 billion were even with the year-ago period. Organic sales rose 5 percent, driven by higher net selling prices and sales volumes. The organic growth was highlighted by a 9 percent increase in K-C International.
•Diluted net income per share for the second quarter of 2012 was $1.26 versus $1.03 in 2011.
•Second quarter adjusted earnings per share were $1.30 in 2012 compared to $1.18 in 2011. The improvement was driven by organic sales growth, cost savings and lower commodity costs, partially offset by increased marketing, research and general spending and unfavorable foreign currency exchange rates. Adjusted earnings per share in both periods exclude costs for pulp and tissue restructuring actions.

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07.26.2012
Smurfit Kappa Group to Hike Price for Recycled Containerboard

Smurfit Kappa Group (SKG) announced an EUR 100 per tonne price increase on recycled containerboard, effective Sept. 1, 2012, according to a report from Deutsche Bank (DB).

SKG cited tight global supplies of kraft liner as one key driver.

DB said that its global trade contacts — including prominent containerboard brokers — are confirming this situation.

In the recycled grades, SKG noted that the increase is necessary to restore margins following recent price declines and better-than-expected demand, DB said.

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07.26.2012
Newsweek Will 'Eventually' Go Digital-Only

InterActive Corp. CEO Barry Diller told analysts in a conference call that the "transition" of Newsweek "to online from print will take place. We're examining all our options." Diller's statement came two days after it became known that IAC had gained a controlling interest in Newsweek Daily Beast Co. after the family of the late Sidney Harman announced that they were freezing their investment.

Audio-stereo magnate Sidney Harman had purchased Newsweek from The Washington Post Co. for a nominal $1 plus about $50 million in liabilities in August 2010, and three months later, he and Diller agreed to the merger of print (Newsweek) and Web (The Daily Beast). Harman had an emotional attachment to Newsweek and the financial wherewithal to absorb the losses (The Daily Beast is a money-loser, too), but his death in April 2011 at 92 years old took away the first part of the equation.

Newsweek's 2012 ad pages are +4.07% through July 23, but that is misleading because its advertising base had atrophied in 2009/2010/2011.Rival Time, though -20.47% through the same issue date, had carried nearly 213 more ad pages (604.45 versus 391.47).

Although no complete decision is expected before September, a possible scenario would be reducing the Newsweek print schedule to specials before fully going digital.That would match the strategy of the Mort Zuckerman-owned U.S. News & World Report in 2009, but the difference is that the digital side of Newsweek is The Daily Beast. (USN&WR is a standalone.)

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07.26.2012
Smartphone Buyers Opt For Android Over iPhone

People buying smartphones for the first time are overwhelmingly opting for Android devices over iPhones, according to a comScore study. The research showed that among U.S. feature phone owners upgrading to a smartphone in April, 61% are buying Android devices and 25% are buying an iPhone. Another 7% are choosing a Windows Phone device, and nearly 5% a BlackBerry phone.

Android’s dominance extends to existing smartphone owners getting new smartphones. More than half (54.2%) chose an Android-powered phone compared to 33.5% getting an iPhone. Almost 10% in this category bought a BlackBerry phone, and 3% a Windows Phone device.

Apple Tuesday announced selling 26 million iPhones in the quarter ending June 30, a 28% increase from a year ago but down from the 35 million sold in the prior quarter in 2012. The dropoff may in part reflect consumers holding off buying a new phone until the expected release of the latest iPhone model this fall.

Underscoring the strong demand for Android phones, Samsung earlier this week said sales of the Galaxy S III had surpassed 10 million units since going on sale in Europe in late May and in the U.S. in late June and early July. That puts the flagship Android phone on pace to easily outstrip the 30 million Galaxy S II devices for all of 2011.

Separate comScore data earlier this month showed Android was the top smartphone platform in the U.S., with the Google operating system running on more than half (51%) of smartphones, as of May. Apple’s iOS was a distant second, at almost 32%.
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07.26.2012
Social media revenue will hit $16.9 billion this year

Social media revenue will reach $16.9 billion this year, up 43.2% from $11.8 billion a year ago, according to a report released today by research and advisory firm Gartner Inc. The projection comes a day before Facebook Inc. releases its second quarter earnings.

Advertising, projected to reach $8.8 billion this year, will drive the largest share of that revenue as marketers allocate a higher percentage of their ad budgets to social networking sites, says the report, “Forecast: Social Media Revenue, Worldwide, 2011-2016.” Social gaming, expected to reach $6.2 billion, makes up the bulk of the additional revenue. Gartner did not detail where the rest of the revenue will come from, and did not immediately respond to a request for comment.

Social networks appeal to advertisers because they offer a large pool of engaged users, says Gartner. For instance, as of March roughly 58% of Facebook’s 901 million users logged on to the social network every day. Those users spend considerable time on those sites. Social networking accounts for one of six minutes spent online, a comScore Inc. report found earlier this year. And those consumers share a tremendous amount of information about themselves and their interests on those sites, which enables marketers to finely target ads to distinct customer segments, says Gartner.
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07.26.2012
International Paper Reports Second Quarter Earnings

International Paper today reported second-quarter 2012 net earnings attributable to common shareholders totaling $134 million ($0.31 per share) compared with net earnings of $188 million ($0.43 per share) in the first quarter of 2012 and $219 million ($0.51 per share) in the second quarter of 2011. Amounts in all periods include the impact of special items.

Earnings from continuing operations and before special items in the second quarter of 2012 totaled $203 million ($0.46 per share), compared with $247 million ($0.57 per share) in the first quarter of 2012 and $338 million ($0.79 per share) in the second quarter of 2011. Earnings from continuing operations and before special items were impacted by seasonally peak maintenance outage expenses and an unfavorable non-cash foreign exchange swing at our Ilim joint venture in Russia. Partially offsetting these items were Temple-Inland integration benefits and synergies tracking ahead of plan as well as modest improvements in costs and pricing.

Quarterly net sales were $7.1 billion compared with $6.7 billion in the first quarter of 2012 and $6.6 billion in the second quarter of 2011.

Operating profits were $426 million in the second quarter of 2012, down from $462 million in the first quarter of 2012, both of which included special items.

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07.26.2012
Graphic Packaging Holding Company Reports Second Quarter 2012 Results

Graphic Packaging Holding Company, a leading provider of packaging solutions to food, beverage and other consumer products companies, today reported Net Income for second quarter 2012 of $42.4 million, or $0.11 per share, based upon 397.8 million weighted average diluted shares. This compares to second quarter 2011 Net Income of $32.1 million, or $0.08 per share, based upon 384.5 million weighted average diluted shares.

Net Sales increased 2.9% to $1,111.9 million during second quarter 2012, compared to second quarter 2011 Net Sales of $1,080.7 million. The $31.2 million increase resulted from $25.2 million of favorable volume/mix and $12.0 million of higher pricing, partially offset by $6.0 million of unfavorable exchange rates.

On a segment basis, Paperboard Packaging sales, which comprised 83.5% of total second quarter Net Sales, increased 0.2% compared to the second quarter of 2011. Net sales in the Flexible Packaging segment increased 19.0% compared to the second quarter of 2011. The increase was primarily the result of the addition of Delta Natural Kraft, LLC and Mid-America Packaging, LLC on December 8, 2011 along with inflationary price recovery.

EBITDA for second quarter 2012 was $171.2 million. Excluding $5.2 million of special charges primarily related to Graphic Flexible Packaging integration costs, Adjusted EBITDA was $176.4 million. This compares to second quarter 2011 EBITDA of $147.6 million and Adjusted EBITDA of $150.1 million.

When comparing against the prior year quarter, Adjusted EBITDA in the second quarter of 2012 was positively impacted by $29.1 million of improved operating performance and cost reduction initiatives, $12.0 million of higher pricing and $5.1 million of favorable volume/mix. These benefits were partially offset by $18.1 million of cost inflation and $1.8 million of unfavorable exchange rates/other.

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07.26.2012
Country Sampler Tweaks Color Correction, Saves Big

For image-heavy publications, the color-correction stage is a critical pre-press process and, if adjusted for maximum precision, can be an area where publishers can save big on printing costs.

Karen Elston Davis, prepress manager for Country Sampler Group, began a quest last year to find a method that could dramatically decrease color correction time while improving quality and color balance. The magazine manages 800-1,000 images in an eight-week turnaround. Images are an important component to the brand’s identity, which caters to readers seeking country-style home tours, design tips and information about antiques, collectables and folk art. Efficiently managing hundreds of images is essential for the group, who wants to focus on new work, like adding various treatments to images, or enhancing images for digital editions.

Elston Davis settled on a Photoshop plug-in called ICEit! by FineEye Color Solutions, which captures significantly more original image color when converting from RGB to CMYK. The plug-in replaces default color separation settings and allows a user to complete an accurate color correction with one simple click.

Elston Davis states that the plug-in has saved “a ton of time doing color revision” and adds that the design team doesn’t “have to put out a second proof.” According to Elston Davis, color correction for Country Sampler has decreased from 60-80 percent down to 10-15 percent.

It almost goes without saying that printing fewer error-filled copies can save time, paper and ink. What is less obvious is that it has the potential to cut costs and increase readership. Country Sampler typically runs off about 550,000 copies, and until recently, anywhere from 80,000-130,000 of those copies had color problems. Since implementing the plug-in, that number has been significantly reduced to 30,000-50,000 flawed copies—a reduction of nearly two-thirds. The magazine has gained tens of thousands of quality usable books that can be provided to subscribers and newsstand customers. More copies mean potentially more readers, something every publisher should welcome.

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07.26.2012
EURO-GRAPH Publishes June Monthly Statistics of the European Graphic Papers Industry

Total European shipments of graphic papers was down 6.8% vs. June 2011 and is down 4.6% year-to-date.

Total European shipments of Newsprint was down 6.7% vs. June 2011 and is down 4.9% year-to-date.

Total European shipments of SC-Magazine grades was down 11.5% vs. June 2011 and is down 3.6% year-to-date.

Total European shipments of Coated Mechanical Reels was down 14.8% vs. June 2011 and is down 7.0% year-to-date.

Total European shipments of Uncoated Mechanical was down 10.3% vs. June 2011 and is down 6.6% year-to-date.

Total European shipments of Coated Woodfree was up 2.3% vs. June 2011 and is down 3.0% year-to-date.

Total European shipments of Uncoated Woodfree was down 2.2% vs. June 2011 and is down 3.5% year-to-date.

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07.26.2012
Canfor Pulp Products Inc. Reports Results for Second Quarter of 2012

Canfor Pulp Products Inc. today reported its second quarter 2012 results.

Net income for the second quarter of 2012 was $3.3 million, or $0.05 per share, compared to net income of $10.3 million, or $0.13 per share for the first quarter of 2012 and net income of $48.2 million, or $0.68 per share for the second quarter of 2011. For the six months ended June 30, 2012, the Company’s net income was $13.6 million, or $0.16 per share compared to $98.9 million, or $1.39 per share for the six months ended June 30, 2011.

During the first quarter of 2012, Canadian Forest Products Ltd. (“Canfor”) exchanged its 50.2% interest in Canfor Pulp Limited Partnership (“the Partnership”) for an equivalent interest in CPPI. As a result of the exchange, CPPI’s interest in the Partnership increased from 49.8% to 100%. Unless otherwise noted, the discussion of the results for the comparative periods prior to the quarter ended March 31, 2012 refers to the results of the Partnership. For the quarter ended March 31, 2012, and all subsequent quarters, the results of CPPI include the results of the Partnership.

The Company reported operating income of $10.4 million for the second quarter of 2012, compared to $11.5 million in the first quarter of 2012, as weaker results in the pulp segment, substantially related to maintenance outages at the Company’s mills, were partially offset by improved earnings in the paper segment.

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07.26.2012
Oil Falls for First Day in Three as U.S. Stockpiles Increase

Oil dropped for the first time in three days in New York on concern that rising stockpiles signal faltering demand in the U.S., the world’s biggest crude consumer.

Futures slid as much as 0.7 percent, erasing a 0.5 percent gain yesterday. Crude inventories climbed by 2.7 million barrels last week, the first increase in five weeks, data from the Energy Department showed. Supplies were forecast to decline 1 million barrels, according to a Bloomberg News survey. Sales of new U.S. homes unexpectedly decreased in June from a two-year high, a Commerce Department report showed.

“We’re stuck in the $80s until we get a little more confidence around global growth prospects,” Michael McCarthy, a chief market strategist at CMC Markets in Sydney, said in a phone interview. “I would expect, especially given the inventory numbers, oil to gravitate back toward the middle of the $81.50 to $88.50 range over the next few trading days.”

Crude for September delivery fell as much as 59 cents to $88.38 a barrel in electronic trading on the New York Mercantile Exchange and was at $88.60 at 2:54 p.m. Singapore time. The contract yesterday rose 47 cents to $88.97, the highest close since July 20. Prices are 10 percent lower this year.

Brent oil for September settlement on the London-based ICE Futures Europe exchange slid as much as 59 cents, or 0.6 percent, to $103.79 a barrel.

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07.26.2012
2012 AF&PA Sustainability Report Shows Significant, Measurable Progress on Better Practices, Better Planet 2012 Goals

The American Forest & Paper Association (AF&PA) today released the results of its biennial Sustainability Report, which showed that the U.S. paper, pulp and wood products industry has made significant, measurable progress toward achieving the goals of its Better Practices, Better Planet 2020 sustainability initiative.

Better Practices, Better Planet 2020 symbolizes the industry’s commitment to sustainability and is one of the most extensive collections of quantifiable sustainability goals for a major U.S. manufacturing industry. Enhancing this already aggressive collection of goals, AF&PA is establishing a goal to decrease the amount of water used in pulp and paper mills by 12 percent from 2005 to 2020 by measuring the water discharge.

The progress made toward reaching each goal is reported in the 2012 AF&PA Sustainability Report, which includes:

Increased paper recovery to 66.8 percent in 2011, nearly doubling our rate of paper recovery since 1990.
Reduced greenhouse gas (GHG) emissions intensity by 10.5 percent since 2005.
Reduced Occupational Safety & Health Administration case incident rates by 24 percent since 2006.
Improved energy efficiency in purchased energy use by 8.1 percent since 2005, adding to the fact that nearly two-thirds of the energy used in our manufacturing facilities is produced through carbon-neutral biomass
Increased fiber procured from certified forestlands to 24 percent and increased fiber procured through certified fiber sourcing programs to 96 percent from 87 percent in 2005. AF&PA members also continued to work with governments and stakeholders on effective policies to combat illegal logging.
Reduced water used at member pulp and paper mills by 6 percent since 2005. AF&PA members have established a new goal to reduce water used in member pulp and paper mills by 12 percent by 2020.

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07.26.2012
Rayonier Reports Strong Second Quarter 2012 Results

Rayonier today reported second quarter 2012 net income of $69 million, or 54 cents per share, compared to $56 million, or 45 cents per share, in the prior year period. For the first six months, net income increased to $123 million, or 96 cents per share, compared to $115 million, or 92 cents per share, in 2011.

In Forest Resouces, second quarter sales of $53 million and operating income of $8 million were $4 million below the prior year period. Year-to-date sales of $105 million were consistent with the prior year, while operating income of $16 million declined $7 million. In the Pacific Northwest, 2012 results were negatively impacted by lower prices and volumes due to weaker Asian demand, and higher logging costs. Our New Zealand joint venture was also impacted by lower export demand. The 2011 results included a $3 million loss for damage from forest fires in the Southeast.

In Real Estate, second quarter sales of $12 million were consistent with the prior year period, while operating income of $6 million increased $1 million. Year-to-date sales of $24 million were $2 million below 2011, and operating income of $12 million was consistent with the prior year. While 2012 volumes were comparable to the prior year periods, margins improved due to geographic property mix.

In Performance Fibers, second quarter sales of $255 million were $22 million above the prior year period, while operating income of $84 million was $13 million higher. Year-to-date sales of $505 million were $21 million above 2011, while operating income of $164 million increased $17 million. Stronger cellulose specialties prices more than offset increased production costs and a decline in absorbent materials prices due to soft markets.

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07.26.2012
Cabela's Inc. Reports Strong Second Quarter 2012 Results

Cabela's Incorporated today reported strong financial results for second quarter fiscal 2012.

For the quarter, total revenue increased 11.6% to $627.3 million; Retail store revenue increased 16.9% to $384.7 million; Direct revenue decreased 0.7% to $158.5 million; and Financial Services revenue increased 12.8% to $79.3 million. For the quarter, comparable store sales increased 4.7%. Net income increased to $33.9 million compared to $21.7 million and earnings per diluted share were $0.47 compared to $0.31, each compared to the year ago quarter.

"This strong performance is Company-wide and shows that our strategic initiatives have generated major improvements in our business," said Tommy Millner, Cabela's Chief Executive Officer. "Every key line of our income statement benefited. Retail and Direct channel revenue, merchandise margin, operating margin, expenses as a percentage of revenue, inventory turns, earnings per share and return on capital all improved."

"Retail revenue growth was particularly encouraging," Millner said. "Comparable store sales accelerated in the quarter and increased 4.7%. It's great that our smaller next-generation stores continue to generate higher revenue and profit per square foot than our legacy stores. Additionally, each of our three new stores opened this year exceeded our expectations in the quarter, which reinforces our decision to accelerate retail store expansion."

"Our Direct channel experienced its best revenue performance in eight quarters," Millner said. "Direct revenue improved significantly from the first quarter, declining just 0.7% due to stronger growth in Internet sales and reduced declines in call center sales."

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07.26.2012
Meredith Reports Fiscal 2012 Fourth Quarter And Full Year Results

Meredith Corporation, the leading media and marketing company serving American women, today reported fiscal 2012 second quarter earnings per share of $0.70, compared to $0.88 in the year-ago period. Revenues were $329 million, compared to $366 million. Meredith recorded $21 million, or $0.28 per share, less of political advertising revenues in the second quarter of fiscal 2012 than in the year-ago period, which is expected in an off-election year.

"Our Local Media Group delivered an industry-leading 9 percent gain in non-political advertising revenues during the second quarter of fiscal 2012," said Meredith Chairman and Chief Executive Officer Stephen M. Lacy. "While the advertising market remained challenging for our National Media Group, we're seeing an improving trend as we look to early calendar 2012, particularly in the food and home advertising categories."

Lacy noted Meredith's Total Shareholder Return financial strategy, announced on October 25, has been very well received by the investment community. Key elements include (1) A 50 percent annual dividend increase to $1.53 from $1.02 per share that produced yields of 5 to 6 percent during the quarter; (2) A new $100 million share repurchase authorization; and (3) Ongoing strategic investments to drive incremental revenue and profit growth over time, such as today's announcement that Meredith would acquire Allrecipes.com from The Reader's Digest Association, Inc.

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07.25.2012
Two Sides U.S. and the Forest Legality Alliance Collaborate

Two Sides U.S. has joined the Forest Legality Alliance (FLA), a joint effort of WRI and the Environmental Investigation Agency, supported by the United States Agency for International Development and companies in the paper and forest products sector. With goals to reduce illegal logging and eliminate illegal fiber in paper products, FLA’s diverse membership includes organizations such as Staples, Ikea, and the World Business Council for Sustainable Development, the American Forest and Paper Association and the Retail Industry Leaders Association.

Forest Legality Alliance staff will help provide training and education services to Two Sides U.S. member companies on topics related to illegal logging and associated trade, including legal requirements in global marketplaces and the sourcing of legal and sustainable paper products. FLA will also provide peer review for Two Sides materials including web content, blogs, printed publications and promotional materials.

“This partnership is a perfect fit for Two Sides U.S. because the FLA shares our commitment to sustainability and to science-based environmental improvement,” says Two Sides U.S. President Phil Riebel. “FLA’s global reach, expertise in paper-related issues and solutions-based approach to the environment will not only benefit our members, but also will strengthen our mutual efforts to promote the responsible production and use of paper. When fiber is sourced legally from well managed forests and paper is manufactured responsibly, print on paper can be a sustainable way to communicate because it’s renewable and recyclable.”

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07.25.2012
Avery Dennison Announces Second Quarter 2012 Results and $100 Million Restructuring Program

Avery Dennison Corporation today announced preliminary, unaudited second quarter 2012 results. All non-GAAP financial measures referenced in this document are reconciled to GAAP in the attached tables. Unless otherwise indicated, the discussion of the company’s results is focused on its continuing operations.

“Second-quarter results were in line with our expectations, and we are on track for full-year earnings growth and free cash flow within the ranges of our guidance,” said Dean Scarborough, Avery Dennison chairman, president and CEO. “We continued to deliver on our commitment to return more cash to shareholders, repurchasing more than two million shares during the quarter.

“We are aggressively implementing the next phase of our restructuring initiative to help us deliver on our financial targets for double-digit earnings growth and higher returns,” Scarborough said. “Our near-term target is to achieve more than $100 million in annualized savings by mid-2013. The leaner cost structure that will result will enhance our overall competitive position and strengthen our ability to increase returns even in an uncertain economic environment.”

Label and Packaging Materials sales increased mid-single digits compared to prior year. Graphics and Reflective Solutions sales declined low single digits compared to prior year.

Operating margin declined 20 basis points to 8.4% due to higher restructuring costs. Adjusted operating margin improved 10 basis points as the benefit from higher volume more than offset higher employee-related expenses, including incentive compensation.

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07.25.2012
Courier Reports Third-Quarter Results

Courier Corporation, one of America’s leading book manufacturers and specialty publishers, today announced results for the quarter ended June 23, 2012, the third quarter of its 2012 fiscal year. Revenues were $58.9 million, down 5% from last year’s third-quarter revenues of $61.9 million. Net income was $1.6 million or $.13 per diluted share, including severance costs of $235,000 in conjunction with the previously announced consolidation of one-color printing operations, versus a loss of $3.1 million or $.26 per diluted share in the third quarter of fiscal 2011, including a non-cash, pre-tax impairment charge of $8.6 million, or $.43 per diluted share. Excluding the impairment charge related to Research & Education Association (REA) in the wake of the Borders Group bankruptcy, adjusted net income for the third quarter of fiscal 2011 was $2.0 million or $.17 per diluted share.

For the first nine months of fiscal 2012, Courier revenues were $184.2 million, down slightly from $185.7 million in fiscal 2011. Net income for the year to date was $3.5 million or $.29 per diluted share, including pretax charges totaling $1.8 million related to severance and post-retirement benefit costs and a first-quarter pretax gain of $0.6 million from the sale of certain non-operating assets. For the first nine months of fiscal 2011, the company’s net loss was $6.3 million or $.52 per diluted share, including second-quarter restructuring costs and a bad-debt provision related to Borders as well as the third-quarter impairment charge. Excluding those items for both periods, adjusted net income for the first nine months of fiscal 2012 was $4.2 million or $.35 per diluted share, compared to $4.0 million or $.34 per diluted share for the first nine months of fiscal 2011. Details for these items can be found in the tables at the end of this release.

Third-quarter results in Courier’s book manufacturing segment were affected by a shift in ordering patterns in the education market, with textbook publishers tightening their inventory management in the current economy by reducing print quantities and timing book production to the start of each semester. As a result, while education sales picked up as the quarter progressed, revenues were down from the previous year. In Courier’s specialty book publishing segment, sales were lower at two of its three businesses, but the continued streamlining of publishing operations enabled the segment to narrow its losses from the prior year.

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07.25.2012
U.S. printing and writing paper shipments in June down 8% year-over-year

According to the American Forest & Paper Association’s June 2012 Printing-Writing Paper Report, total printing-writing paper shipments decreased 8% in June compared to June 2011. Shipments for coated free sheet and uncoated mechanical grades posted double-digit year-over-year decreases compared to last June. U.S. purchases (shipments + imports – exports) of printing-writing papers also decreased 8% in June. Total printing-writing paper inventory levels decreased 4% from last month, primarily due to double-digit decreases among the mechanical grade papers.

Additional key findings include:

Purchases of coated mechanical (CM) papers are up slightly compared to June 2011, which is the second consecutive year-over-year increase.
Shipments of uncoated free sheet (UFS) papers are down year-over-year, which is the second-largest decrease in past 20 months.
Shipments of coated free sheet (CFS) papers are at the highest level since November 2011 but still decreased year-over-year.
Uncoated mechanical (UM) paper shipments are down double-digits compared to year-ago but reached the highest point in the past five months.

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07.25.2012
Oil Near Lowest in a Week on U.S. Stockpile Gain, China Concern

Oil traded near its lowest in a week in New York on speculation that an increase in U.S. crude stockpiles signaled slowing demand in the world’s biggest consumer of the commodity.

Futures slid as much as 0.8 percent after the industry- funded American Petroleum Institute said inventories rose 1.35 million barrels last week. Year-to-date gasoline demand in the U.S. is 4.4 percent below 2011 levels, MasterCard Inc. (MA) said yesterday. Oil pared losses as the dollar weakened for the first time in six days against the euro, bolstering the appeal of commodities. Prices are too high for the “fragile” global economy, Fatih Birol, the International Energy Agency’s Chief Economist, said in an interview with Bloomberg Television.

“Demand is looking soft, and gasoline consumption in the U.S. is still weak,” said Carsten Fritsch, an analyst at Commerzbank AG in Frankfurt, who estimates Brent should slide toward $100, based on physical supply and demand. “The outlook right now is neutral to bearish.”

Crude for September delivery decreased as much as 70 cents to $87.80 a barrel in electronic trading on the New York Mercantile Exchange. It was at $88.73 at 10:48 a.m. London time. Crude fell yesterday as low as $87.43, its weakest since July 17. Prices are down 10 percent this year.

Brent oil for September settlement on the London-based ICE Futures Europe exchange fell as much as 65 cents, or 0.6 percent, to $102.77 a barrel.

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07.25.2012
Food News Media Launches B-To-B Restaurant Title FSR

Nothing beats a well-rounded product platform. So says Greg Sanders, group publisher of Food News Media, which just launched a new print title called FSR that targets the full-service restaurant industry and is designed to compliment an existing Web-based brand called Restaurant Management, which will soon be rebranded to match the magazine.

The new magazine, which will debut in November, will have an initial circulation of 24,000 and will be published bimonthly.

Food News Media has targeted the quick-service, or fast-food, restaurant market with QSR since 1997. With the launch of FSR, Sanders says the company now targets the two main industry verticals. While Restaurant Management was first launched as a digital platform to serve the FSR market, the company quickly determined there needed to be another facet. "What we discovered is that while digital has grown, it works best when it's coupled with print," he says.

"This might sound esoteric, but the restaurant industry, even in a downturn, continues to innovate with new products, menu items and concepts," he says. "We believe there's room in that space for reporting on those innovations. We were doing that with the digital platform, but print is still, from our experience, a highly valued commodity both for marketers and for readers. If we're going to have a complete offering, print has to be a part of it."

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07.25.2012
MWV Reports Second Quarter Sales and Earnings Growth

MeadWestvaco Corporation, a global leader in packaging and packaging solutions, reported a 3.5 percent sales increase for the second quarter of 2012, reflecting increased volumes of higher value products in targeted packaging and specialty chemical end markets, as well as increased land sales.

Income from continuing operations of $78 million, or $0.44 per share ($82 million or $0.46 per share ex-items) was up 13 percent versus the prior year. The company’s profit improvement was driven primarily by higher volumes, pricing and product mix improvement, productivity gains, and higher earnings from land sales.

Sales from continuing operations in the second quarter of 2012 were $1.42 billion compared to $1.38 billion in the second quarter of 2011. Income from continuing operations in the second quarter of 2012 was $78 million, or $0.44 per share, and included after-tax restructuring charges of $4 million, or $0.02 per share. Income from continuing operations in the second quarter of 2011 was $69 million, or $0.40 per share, and included after-tax restructuring charges of $5 million, or $0.03 per share.

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07.25.2012
NPD: Last-minute back-to-school spending on the rise

Once again, consumers are putting off back-to-school shopping until the last minute, but retailers can take solace in the fact that they intend to spend more this year.

According to NPD's survey, 31% of respondents said they plan to spend more this year, compared with 22% who made that claim in 2011. The number of consumers who plan to spend less went from 38% in 2011 to 24% this year, while those who plan to spend the same rose from 40% to 46%.

When it comes to when they plan to shop, the numbers were essentially the same from 2011 to 2012. This year, 37% shoppers said they will finish their back-to-school shopping by Aug. 1 compared with 38% from the year before. This year, 58% of consumers plan to have their shopping done by Sept. 1, compared with 57% for the prior year.
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07.25.2012
Bag printing gets a digital upgrade

In the seed bag printing business, accuracy is key. A single mistake—the wrong label on the wrong bag, smudged ink, illegible text—could mean a full season of hard work lost. From research to distribution, the seed production process can take up to two years, making coding and marking the bag critical parts of the quality control process.

For companies like Cashwell and Jones, a small seed conditioning, bagging, and printing company in Mt. Olive, NC, bag coding can be a challenge. But that challenge recently became a lot easier when the company turned to the BagJet 1300 from RSI and the combined power of RSI and HP thermal ink-jet technology.

RSI Systems is well known for its innovative product coding technology and integration with reliable HP thermal ink-jet printheads. “We develop whole solutions,” says David Don, president of RSI, “and we use HP technology in our solutions where HP offers the best print performance.” The combination has helped RSI break into new areas of business—including printing for lumber, case coding, and the bag printing industry.

Today the rapidly growing seed trade industry makes up a large percentage of RSI’s customer base. For years, the industry had struggled with the challenge of printing mandatory data on the unstable, porous surface of seed bags.
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07.25.2012
Orchids Paper Products 2nd Quarter Earnings Up on Higher Shipments, Lower Costs

Orchids Paper Products Company today reported second quarter 2012 financial results.

Summary:

Net sales of converted product in the second quarter of 2012 were $22.3 million, an increase of $3.6 million, or 19%, over the prior year quarter. Net sales of converted product on a year-to-date basis were $45.9 million, an increase of $9.2 million, or 25%, over the prior year period.
Total net sales in the second quarter of 2012 increased 8% to $25.3 million, compared with $23.4 million in the same period in 2011. On a year-to-date basis, total net sales increased $4.9 million, or 11%, to $51.0 million.

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07.25.2012
Mueller Industries, Inc. Reports Second Quarter 2012 Earnings

Mueller Industries, Inc. announced today that Mueller's net income in the second quarter of 2012 was $17.9 million, or 47 cents per diluted share. This compares with net income of $22.3 million, or 59 cents per diluted share, for the same period of 2011. Net sales for the second quarter of 2012 were $594.1 million compared with $652.9 million in the second quarter of 2011. Of the decrease in net sales, approximately $51.6 million was attributable to lower copper and other raw material costs that impact the selling prices of our products. Copper prices decreased to an average of $3.55 per pound in the second quarter of 2012 versus $4.16 per pound in the same quarter of 2011.

Second Quarter Financial and Operating Highlights
The Plumbing & Refrigeration segment posted operating earnings of $22.6 million on net sales of $331.7 million, which compares with prior year earnings of $24.8 million on net sales of $347.1 million. The decrease in earnings was due to slightly lower spreads.

The OEM segment posted operating earnings of $15.1 million during the second quarter of 2012 on net sales of $268.6 million, which compares with operating earnings of $18.8 million on net sales of $314.1 million for the same period in 2011. Unit volumes decreased somewhat and spreads were slightly lower.

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07.25.2012
U.S. Postal Service Launches Express Mail Padded Flat Rate Envelope

The best deal in shipping just added a bit more cushion as the U.S. Postal Service has introduced the first Express Mail Padded Flat Rate Envelope.

The new envelope measures 9 1/2-by-12 1/2 inches and can be ordered exclusively online and free of charge at usps.com beginning Aug. 2. It is ideal for sending merchandise that requires a little extra padding to almost anywhere in the country – overnight – $17.75 for commercial or online customers.

“The Express Mail Padded Flat Rate Envelope is just like the Priority Mail version – only it gets there faster,” said Gary Reblin, vice president, Domestic Products. “It’s a great option for shippers who need to get lightweight items to their destination overnight because it offers businesses and consumers the great combination of convenience, speed and value. Flat-rate pricing saves time and effort on mail preparation and makes it possible to more accurately predict shipping costs.”

The Express Mail Padded Flat Rate Envelope is the latest addition to the expanding Express Mail Flat Rate product line, which also includes an Express Mail Flat Rate Envelope and an Express Mail Legal Flat Rate Envelope, both retailing for $18.95, and a new Express Mail Flat Rate Box launched last January retailing for $39.95.
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