Blog Keyword - Midland PaperClips - fine paper, packaging and supply systems distributor

05.24.2012

Resolute Issues Clarification Regarding Trading Under 'RFP' Symbol on TSX

AbitibiBowater Inc., doing business as Resolute Forest Products, today clarified that Resolute currently expects that trading in its common stock will commence under the new symbol 'RFP' on the Toronto Stock Exchange on May 28, 2012, and not May 24, 2012 as previously announced. Resolute also reconfirms that trading in its common stock on the New York Stock Exchange under the symbol 'RFP' will commence as of the opening of markets on May 24, 2012.

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05.24.2012

Resolute Forest Products Shareholders Approve Company Name Change at 2012 Annual Meeting

AbitibiBowater Inc., doing business as Resolute Forest Products, today held its annual general meeting of stockholders in Charlotte, North Carolina. At the meeting, shareholders approved a resolution to amend the Company's certificate of incorporation to change its legal corporate name to "Resolute Forest Products Inc.", effective May 24, 2012. As part of this change, stockholders also agreed to change the Company's common stock ticker symbol from ABH to RFP on both the New York Stock Exchange (NYSE) and the Toronto Stock Exchange (TSX), also effective May 24, 2012. Any impact this legal entity name transition may have for Resolute's customers and business partners will be communicated directly to these parties over the coming days.

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05.24.2012

Alliance Creative Group Reports a 32-Percent Increase in Revenue

Alliance Creative Group is pleased to announce its results for the three months ended March 31, 2012.

The company’s revenues for the quarter were $2.5 million compared with $1.9 million for the three months ended March 31, 2011, an increase of 32 percent.

Gross Profits for the quarter were $763,379 compared with $461,877 for the three months ended March 31, 2011, or an increase of 65 precent.

Net Income for the three months ended March 31, 2012, totaled $296,731 vs. $127,336 for the three months ended March 31, 2011, an increase of 133 precent.

The total assets of the Alliance Creative Group as of March 31, 2012 were $5.1 million. The total equity was $1.7 million.

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05.24.2012

Macy’s, Inc. Signs Commercial and Investment Agreements with China’s VIPStore

Macy’s, Inc. today announced it will sell an assortment of its highly regarded private brand merchandise directly to consumers in China through a Macy’s section on omei.com, a newly established China-based online retailer of in-season luxury and fashion brands operated by VIPStore Co., Ltd.

In addition, Macy’s, Inc. has made an equity investment of $15 million in VIPStore Co., a Chinese e-commerce firm and parent company of omei.com. Macy’s, Inc. joins other venture capital providers, including Intel Capital, in acquiring a minority stake in the company. In addition to omei.com, VIPStore operates jiapin.com, an established flash sales site.

“Our relationship with VIPStore will allow us to gain additional experience in the fast-growing Chinese market, and to better understand how consumers across China interact with Macy’s and the products we sell,” said Terry J. Lundgren, chairman, president and chief executive officer of Macy’s, Inc. “We know that Macy’s is very well known and regarded in China through international tourism, globally broadcast events such as the Macy’s Thanksgiving Day Parade, and movies such as Miracle on 34th Street. But we still have a great deal to learn about the shopping patterns and merchandise preferences of consumers in China’s very diverse and rapidly emerging consumer marketplace.

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05.24.2012

Retailers get mobile-friendly

Nine out of 10 web retailers say they have some sort of a mobile strategy in place, according to Forrester Research Inc. and Shop.Org, the online retail division of the industry trade group National Retail Federation.

The two organizations today released the latest research from “The State of Retailing Online 2012,” with findings based on survey responses from 59 retailers, including merchants that operate stores, sell only on the web and manufacturers selling directly to consumers. This is the first part of the two-part report focused on how retailers are implementing smartphone and tablet marketing into their sales mix.

Participating retailers say mobile generated 4.7% of their total web sales in 2011, with tablet users accounting for 3.2% and smartphone users accounting for 1.5%.

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05.24.2012

HP Launches Multi-year Restructuring to Fuel Innovation and Enable Investment

HP today outlined plans for a multi-year productivity initiative designed to simplify business processes, advance innovation and deliver better results for customers, employees and shareholders.

The restructuring is expected to generate annualized savings in the range of $3.0 to $3.5 billion exiting fiscal year 2014, of which the majority will be reinvested back into the company. Enabling investments in people, processes and technology will allow HP to accomplish the restructuring effort and to generate the savings. These moves are expected to yield significant improvements in efficiency and customer service during the next several years. HP expects to use the savings to boost investment in innovation around its three areas of strategic focus: cloud, big data and security, as well as in other segments that offer attractive growth potential.

As part of the restructuring, HP expects approximately 27,000 employees to exit the company, or 8.0% of its workforce as of Oct. 31, 2011, by the end of fiscal year 2014. The company is offering an early retirement program, so the total number of employees affected will be impacted by the number of employees that participate in the early retirement plan. Workforce reduction plans will vary by country, based on local legal requirements and consultation with works councils and employee representatives, as appropriate.

In addition to these restructuring actions, HP expects to achieve additional savings from non-headcount cost reductions, including supply chain optimization, SKU and platform rationalization, go-to-market strategy simplification and business process improvement.

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05.24.2012

Costco Wholesale Corporation Reports Third Quarter and Year-to-Date Operating Results for Fiscal Year 2012

Costco Wholesale Corporation announced today its operating results for the third quarter (twelve weeks) and first thirty-six weeks of fiscal 2012, both ended May 6, 2012.

Net sales for the quarter increased eight percent, to $21.85 billion, from $20.19 billion last year. Net sales for the first thirty-six weeks increased ten percent, to $65.54 billion, from $59.46 billion last year.

Net income for the quarter was $386 million, or $.88 per diluted share, compared to $324 million, or $.73 per diluted share, last year. Net income for the first thirty-six weeks was $1.100 billion, or $2.50 per diluted share, compared to $984 million, or $2.22 per diluted share, last year. The quarter this year included a $6.5 million pre-tax LIFO charge ($.01 per diluted share) compared to a $49 million pre-tax LIFO charge ($.07 per diluted share) last year.

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05.24.2012

Catalyst Paper restructuring plan not approved by creditors

Catalyst Paper Corporation announced that the company did not receive the necessary creditor approval for its amended plan of arrangement under the Companies’ Creditors Arrangement Act. Approval of not less than 66 2/3% of the principal amount of each creditor class voting on the plan is required. Although 99.5% of the principal amount of the secured creditor class voted in favour of the plan, only 64% of the principal amount of the unsecured creditor class voted in favour of the plan at meetings held today in Richmond, BC. Details of the voting results including votes on a class-by-class basis are available at www.catalystpaper.com/restructuring.

Since the amended plan of arrangement was not approved at the meetings, Catalyst Paper is required to commence a sale transaction in accordance with certain court-approved sale and investor solicitation procedures (SISP) as described in the Management Proxy Circular delivered to Catalyst Paper’s creditors in advance of the meetings.

“Today's creditors' vote makes it clear for stakeholders that our path to emerge from protection will be through a sales process initiated by a stalking horse bid from secured noteholders. Our objective remains unchanged and that's to put our company on better financial footing to enable us to compete vigorously and to adapt as necessary to the continuing changes in the markets for our products,” said President and Chief Executive Officer Kevin J. Clarke. “Stakeholders can be assured that as milestones in the sales process are met, issues resolved and decisions reached, we will continue to provide timely updates on developments and progress.”

The company’s debtor-in possession (DIP) financing continues to be available to the company and, combined with the company’s operating revenue, is expected to continue to provide sufficient liquidity to meet ongoing obligations to employees and suppliers and ensure that normal operations continue during the sale process.

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05.24.2012

Cascades Unveils 100% Recycled Security Paper: CheckSecur Platinum EnviroTM

Cascades Fine Papers Group announces today the launch of CheckSecur Platinum Enviro, a security paper made with 100% recycled fiber. Designed to protect against the most sophisticated forms of check fraud, this new and innovative paper rises above the pack of security papers by responding to the increasing demand for environmentally friendly products without compromising document security.

A pioneer in recycling and manufacturer of its own deinked pulp, Cascades combined its skill in recycled pulp with its expert R&D team to create a UV dull pulp that contains a negligible amount of contaminants. This pulp is key to the production of CheckSecur Platinum Enviro, a unique product of its kind in the market. Enhanced with the superior protection of SecurLaser PlusTM, this new paper has been optimized for digital printing technologies and is OCR - MICR compatible.

Consistent with Cascades' focus on manufacturing the most responsible products possible, this new security paper contains 100% post-consumer fiber, is FSC and Processed Chlorine Free certified, and is manufactured using local and renewable biogas energy.

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05.24.2012

Oil Advances From Seven-Month Low as Drop May Be Overdone

Oil rebounded after closing below $90 a barrel for the first time in seven months amid signs China will accelerate efforts to spur growth and speculation that talks in Baghdad on Iran’s nuclear program have stalled.

Futures gained as much as 1.1 percent in New York. China, the world’s second-biggest oil consumer, will intensify “fine- tuning” of policies, according to the government’s second statement in four days signaling a commitment to growth as domestic demand slows. World powers and Iran, meeting in Baghdad for a second day, are struggling to overcome disagreements over proposed measures to ensure the Persian Gulf country’s nuclear program is peaceful.

“China has been discussing ways of boosting growth in the last couple of weeks, focusing on building infrastructure which is a positive for commodities, especially oil,” said Thina Margethe Saltvedt, an analyst at Nordea Bank AB (NDA) in Oslo. “Most eyes will be on Iran today as the meetings will give an idea about how far the parties are willing to go in negotiations.”

Crude for July delivery gained as much as $1.03 to $90.93 a barrel in electronic trading on the New York Mercantile Exchange and was at $90.85 at 11:39 a.m. London time. The contract yesterday slid 2.1 percent to $89.90, the lowest close since Oct. 21.

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05.24.2012

American Eagle Outfitters Reports 38% Increase in First Quarter Adjusted EPS and 18% Sales Growth

American Eagle Outfitters, Inc. today announced earnings of $0.20 per diluted share for the first quarter ended April 28, 2012, compared to $0.14 per diluted share for the comparable quarter last year. Adjusted earnings for the quarter were $0.22 per diluted share, which excludes the operating results for 77kids, compared to adjusted earnings of $0.16 per diluted share last year.

GAAP First Quarter Results
Net sales increased 18% to $719 million, compared to $610 million last year.

Comparable store sales, including AE Direct, increased 17%, compared to a 7% decrease last year.

Gross profit increased 18% to $273 million, or 37.9% as a rate to sales, compared to $232 million, or 38.0% as a rate to sales, last year. Higher product costs, driven by the spike in cotton and incremental incentive costs, adversely affected the merchandise margin. This was offset by a 220 basis point improvement in buying, occupancy and warehousing due to strong sales.

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05.24.2012

North American printing and writing paper shipments decline 5.3% in April (RISI)

Overall North American printing and writing paper shipments continued their downtrend with a 5.3% year-over-year decline in April - a marginal improvement over the year-to-date average of 6.9%, according to the Pulp and Paper Products Council.

Overall mill operating rates ticked up to 89% from 88% a year ago.

Total demand for the month was down 5.25% compared with 7.3% for the first four months of the year.

Of the four major grade segments, the best performer in April was coated mechanical with a 5.1% improvement in volumes. The weakest was uncoated mechanical with a 12.5% decline. Coated and uncoated freesheet were down 2.8% and 6.2% respectively.

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05.23.2012

MagneCote® Price Increase

Nekoosa Coated Products is announcing a price increase on the MagneCote® product line sold in the United States and Canada. This change affects all orders placed on or after June 22, 2012. The increase is broken down below by sheet thickness:

MagneCote® and Digital MagneCote® 11 pt. sheets: 8.3% price increase
MagneCote® and Digital MagneCote® 13 pt. sheets: 5.3% price increase
MagneCote® and Digital MagneCote® 17 pt. sheets: 9.6% price increase

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05.23.2012

Statement From American Progressive Bag Alliance On Los Angeles City Council's Vote To Move Forward With Retail Bag Ban

The Los Angeles City Council is poised this week to move forward with a draconian policy - the first of its kind - a ban on all paper and plastic retail bags. It's a move that would put hundreds of Los Angeles area jobs at risk, and has been proven to have no benefit for the environment.

The following is a statement from Mark Daniels, Chair of the American Progressive Bag Alliance, an organization representing the United States' plastic bag manufacturing and recycling sector, which employs 30,800 workers in 349 communities across the nation 1,900 of which are in California - whose jobs depend on plastic bag manufacturing and recycling.

"The Los Angeles City Council has signaled all along that it would bring a retail bag ban to a vote, so we are not surprised, but are disappointed by the Council's decision to effectively disregard the facts and impose a misguided policy to ban plastic and paper bags. By voting to move forward with this ban, the City of Los Angeles will place an onerous policy on its residents that puts the jobs of hundreds of Angelenos at risk who work in the bag manufacturing and recycling sector. At a time when we should be creating more manufacturing jobs, this ban takes them away, while pushing people to imported reusable bags which are produced overseas and are a less-environmentally friendly option.

Bag bans have not been proven to reduce litter. With this draconian bag ban, the city takes a simplistic approach that misses an opportunity to provide a more effective solution for consumers and the environment - programs that encourage greater recycling of plastic and paper bags and preserve jobs."

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05.23.2012

Voith Paper Gears up for Challenges in the Paper Market

Voith Paper, one of the world's leading partners and pioneers in the paper industry, gears up for structural changes in its markets.

On the one hand, the ongoing digitalization of everyday life through tablets like the iPad and the ensuing changes in consumer behavior is faster than expected having a negative impact on the demand for so-called graphic papers. These paper grades are, for example, used for printing newspapers or magazines. As a result of this continued development, Voith Paper has experienced a noticeable slow-down in business in this fiscal year and a deterioration of its medium to long-term perspectives for graphic paper machines.

On the other hand, the demand for paper machines will continue to grow in the medium and long term, especially in Asia. These countries are, however, increasingly asking for medium-size plants, particularly for board and packaging papers, which are less investment-intensive. In this newly arising segment, Voith has to fight for a market share against stiff competition from local suppliers. Due to the ensuing cost pressure, these machines are already largely produced locally. The fast-growing demand in this new segment therefore results in a lower share in value creation and sales in and from Europe.

The company is adapting to these developments with a comprehensive catalogue of measures. The German and Austrian Voith Paper locations, which mainly develop, design and produce large plants with high investment costs, are particularly affected by the market changes and are to be streamlined. Wherever it appears feasible, it is planned to amalgamate and pool production and engineering capacities from several locations, in order to adapt the resources in the German-speaking area to the new market situation.

In the course of this reorganization, personnel measures will be inevitable. It is envisaged to cut a total of about 710 jobs in Germany and Austria in all areas - in the administration and also in the production departments. The intended staff reductions will hit the Voith Paper locations Heidenheim (about 280 jobs), Ravensburg (about 300 jobs), Krefeld (about 55 jobs) and St. Pölten (about 70 jobs). The Voith Paper Management has today informed all relevant committees and the workforces of the affected locations about these plans.

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05.23.2012

RR Donnelley to Acquire EDGAR Online, a Leader in Financial Data and Analytics

R. R. Donnelley & Sons Company and EDGAR Online jointly announced today that they have signed a definitive agreement pursuant to which RR Donnelley will acquire EDGAR Online, a leading provider of disclosure management services, financial data and enterprise risk analytics software and solutions for both corporate and investment professionals. The deal is valued at approximately $70.5 million, which includes $1.092 per common share, assumption of debt and payment of an amount equal to the redemption price of the preferred shares. The transaction is expected to close during the third quarter of 2012. The acquisition is expected to be accretive to RR Donnelley's earnings in the first full year after the closing of the transaction and is subject to customary closing conditions, including regulatory approval and approval of EDGAR Online shareholders.

"This acquisition continues to expand the range of our digital offering and further enhances our ability to deliver integrated communications solutions," said Thomas J. Quinlan, III, RR Donnelley's President and Chief Executive Officer. "In every segment that we serve we provide a full set of resources for creating, managing, producing, distributing and even monetizing content."

EDGAR Online has provided XBRL (eXtensible Business Reporting Language) services to RR Donnelley's Financial Services offering since 2008. Working with EDGAR Online, RR Donnelley has become an industry leader in executing XBRL filings.

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05.23.2012

Resolute Announces Share Repurchase Program

AbitibiBowater Inc., doing business as Resolute Forest Products, today announced that its Board of Directors has authorized the repurchase of up to 10% of the Company's common stock for an aggregate purchase price of up to US$100 million. The repurchase program will be funded using the Company's available cash.

"We are taking advantage of our strong financial position to act on an attractive opportunity to return cash to shareholders," said Richard Garneau, President and Chief Executive Officer. "The Company will continue to manage its capital with the utmost discipline, carefully balancing initiatives to return cash to shareholders with other considerations, such as pursuing sound capital investments and opportunities to further increase Resolute's earnings power. We are committed to enhancing shareholder value in the long term."

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05.23.2012

Rottneros Mill to Halt Groundwood Pulp Production, Cut 50 Workers

Rottneros said that it is beginning negotiations regarding the termination of continuous groundwood pulp production at Rottneros Mill.

The measure is the result of rapidly declining consumption of printing paper in Europe, which has led to a dramatic reduction in demand for groundwood pulp, the company said.

The mill employs about 100 workers and 50 will be given a notice of termination.

Rottneros said the production of groundwood pulp is expected to cease this winter, but the actual date depends on the outcome of union negotiations and also agreements with customers affected.

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05.23.2012

Nippon Paper Group Develops Fourth Medium-Term Business Plan

Nippon Paper Group, Inc. has formulated the Fourth Medium-Term Business Plan (FY2012-FY2014). This is the last medium-term business plan for Group Vision 2015, and aims to achieve operating income of 70 billion yen in FY2014.

After sustaining severe damage to major plants such as the Nippon Paper Industries Ishinomaki Mill (Ishinomaki, Miyagi Prefecture) in the Great East Japan Earthquake, the Group has been moving forward with the Plan for Paper Business Revitalization, designed not only to achieve a recovery at the Ishinomaki Mill but to shut down facilities with a combined total production capacity of 800,000 tons.

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05.23.2012

Magazines Are Driving Mobile Search Activity

Forget 2D mobile activation programs and mobile apps or sites. Your readers are already using your print magazines as launching pads to mobile activity whether or not you are providing the programs. According to the latest research of how offline advertising inspires mobile search, Google and Ipsos find that 48% of smartphone readers are performing mobile queries off of ads they see in magazines. In this regard, print holds up well with other media, since only 35% of smartphone users search off of poster and billboards, while 57% do so from in-store promotions and 58% from TV. Magazines in particular are key drivers of the mobile ecosystem.

The mobile device’s important role in the consumer’s path to purchase is starting to emerge in this early research. Among smartphone owners surveyed, 37% said that research that started on mobile led to a purchase they made online, while 32% cited mobile as a starting point for in-store purchases.

While m-commerce has been a marginal activity until recent months, the Google/Ipsos research suggests that the path from a mobile search query off of a print ad to final purchase may not be as distant as it once was. They find 35% of smartphone users have already made a purchase on their cell phones and 68% of those m-shoppers have made a mobile purchase in the last month.

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05.23.2012

Books-A-Million, Inc. Announces First Quarter Results

Books-A-Million, Inc. today announced financial results for the 13-week first quarter ended April 28, 2012. Net sales for the 13-week period ended April 28, 2012 increased 10.5% to $113.1 million compared with sales of $102.4 million in the year-earlier period. Comparable store sales for the first quarter declined 4.2%, compared with the 13-week period in the prior year. Net loss from continuing operations for the first quarter was $1.9 million, or $0.13 per diluted share, compared with net loss from continuing operations of $3.4 million, or $0.22 per diluted share, in the year-earlier period.

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05.23.2012

Oil Trades Near Two-Day Low on Iran Deal, Rising Supplies

Oil declined for a second day in New York after Iran agreed to grant access to United Nations nuclear inspectors and the euro slumped to a 21-month low against the dollar.

West Texas Intermediate slid as much as 1.2 percent. UN inspectors and Iran broke a five-year stalemate with a deal that gives the International Atomic Energy Agency access to the nation’s Parchin military complex, IAEA Director General Yukiya Amano said yesterday. Western governments are holding talks with Iran today in Baghdad. The euro fell on speculation European leaders won’t propose new measures today in Brussels to stem the region’s debt crisis.

“For now the geopolitical premium is likely to remain depressed, and today’s meeting will set the tone for future relations between Iran and the West,” said Andrey Kryuchenkov, an analyst at VTB Capital in London, who predicts further price losses will be limited.

Crude for July delivery declined as much as $1.14 to $90.71 a barrel in electronic trading on the New York Mercantile Exchange. It was at $90.99 at 10:57 a.m. London time. The contract slid 1.1 percent to $91.85 yesterday, the lowest close since May 18. The June futures contract, which expired, fell 91 cents yesterday to $91.66.

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05.23.2012

Barnes & Noble Launches 16th Annual Summer Reading Program: Imagination's Destination

Barnes & Noble, Inc., the leading retailer of content, digital media and educational products, today announced the launch of its 2012 Summer Reading program: Imagination's Destination. Children in grades 1-6 can earn a free book just by reading eight books and turning in a completed reading journal sheet about the books they read. This year, Imagination’s Destination features the exciting new Scholastic Discover More series along with two special promotions to encourage young readers to explore their imaginations all summer long.

Scholastic Discover More is an innovative new book series that makes learning a fun and immersive journey of discovery at a variety of reading levels, through vivid color photos and in-depth diagrams. Each title in the series comes with a free digital companion book which offers even more illuminating insight. Young explorers can download a digital sample of the Scholastic Discover More experience to read on Barnes and Noble’s award-winning NOOK Color™ or NOOK Tablet™.

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05.23.2012

Forbes to launch 'Forbes Brazil'

Forbes Media plans to debut Forbes Brazil, which will be published in Portuguese, in July. The publisher is launching the new magazine, its 22nd international edition, in partnership with BPP LTDA, which is also publishes Billboard Brazil.

Initial distribution will be 50,000 copies, with content that will include local stories as well as editorial from Forbes.

“Forbes Brazil marks our flag in all the BRIC markets where we see significant growth and possibilities for our business going forward,” said Forbes Television and Licensing President Miguel Forbes in a statement.

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05.23.2012

Ahlstrom extends innovative Acti-V(TM) technology to its entire supercalendered release papers range

Ahlstrom, a global high performance materials company, will extend the application of its recently launched Ahlstrom Acti-V(TM) technology to all supercalendered release papers manufactured at its La Gère plant in France. The products are used for Pressure Sensitive Adhesive (PSA) labeling, as well as for specialty tape and industrial applications.

Ahlstrom started to market Ahlstrom Acti-V(TM) release papers for PSA labeling applications, manufactured at its Turin plant in Italy. In order to meet the growing customer demand worldwide, the company is planning equipment modifications at its La Gère facility in France in August 2012. Consequently, Ahlstrom will be able to increase its Ahlstrom Acti-V(TM) production volume and potentially reach up to one hundred percent of the plant's output. This will also enable applying Ahlstrom Acti-V(TM) technology to the two-side silicone coating papers range for tape and industrial applications, which represent a major focus of the French site.

Ahlstrom Acti-V(TM) is a new generation of release papers for silicone coating. The Ahlstrom patented technology was first introduced to the market at Labelexpo Europe 2011 in the end of last year. Thanks to the new technology, Ahlstrom Acti-V(TM) plays an active role in the silicone curing and anchorage process. Silicone curing requires less catalyst (platinum) and energy. At the same time, it improves silicone coverage while the anchorage is stronger and more durable, even in challenging environmental conditions.

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05.23.2012

Deal not closed, but Port Hawkesbury mill buyer organizing workforce

Having cemented its labour contract, the company negotiating to purchase the NewPage mill in Port Hawkesbury, N.S., has advised former employees who will, or won’t, be called back if the mill re-opens.

Only about 229 unionized workers will be returning to work at the mill, down from the more than 500 who were employed prior to the mill’s closure in September 2011. The potential buyer, Pacific West Commercial Corp., will only restart the supercalendered paper line, not the newsprint machine.

Pacific West has reached a tentative deal concerning its electrical power rate, but the agreement must be approved by the province’s utility review board. A meeting has been scheduled for July. A Pacific West spokesman told the Cape Breton Post in May that the company is ready to proceed with the restart once the electricity rate agreement is approved, so workers could be working again as early as August.

Despite the mill closure, work continues on a Nova Scotia Power’s biomass power cogeneration plant at the NewPage Port Hawkesbury site. The steam turbine and generator were placed in late April. Nova Scotia Power says the work on the high pressure steam piping and electrical connections for the generator can now begin. The plant should be producing power by the end of the first quarter of 2013.

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05.23.2012

Multi-Color Corporation Announces Results for Fiscal 2012

Multi-Color Corporation today announced fiscal 2012 results including 4% organic growth (excluding foreign exchange), stable 20% gross margins and progress with the York Label Group acquisition integration.

"Total revenues grew 51% to over $500 million in fiscal 2012 and revenues, including the full year impact of acquisitions occurring in fiscal 2012, are expected to exceed $650 million in fiscal 2013. Organic revenue growth was 4% (excluding foreign exchange) and operational improvements helped us achieve a 14% organic operating income improvement (excluding foreign exchange) for fiscal 2012," said Nigel Vinecombe, President and CEO of Multi-Color Corporation.

Net revenues increased 51% to $510.2 million from $338.3 million in the prior year. Net revenues increased 45% or $151.4 million due to acquisitions and start-ups occurring after the beginning of fiscal 2011. Of this acquisition-related revenue increase, $109.9 million is attributable to the acquisition of York Label Group. In addition, organic net revenues, excluding the impact of foreign exchange, increased 4% in the current year comprised of a 2% increase in sales volumes and a 2% favorable impact of sales mix. The impact of foreign exchange rates compared to the prior year was 2% primarily driven by the appreciation in the Australian dollar.

Gross profit increased $30.3 million or 45% compared to the prior year. Adjusted for special items, gross profit increased $31.4 million or 46%. Acquisitions and start-ups occurring after the beginning of fiscal 2011 contributed 31% to the adjusted gross profit increase. The remaining 15% increase was due to the impact of foreign exchange rates, higher sales volumes and favorable sales mix impacts in the current year. Gross margins, adjusted for special items, were steady at 20% of sales revenues compared to the prior year.

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05.22.2012

Best Buy Reports Fiscal First Quarter Results

Best Buy Co., Inc. today reported GAAP net earnings from continuing operations of $161 million, or $0.47 per diluted share, for the three months ended May 5, 2012 compared to net earnings from continuing operations of $255 million, or $0.64 per diluted share for the prior-year period. Excluding previously announced restructuring charges, adjusted (non-GAAP) net earnings from continuing operations for the first quarter was $246 million, or $0.72 per diluted share, compared to adjusted net earnings from continuing operations of $258 million, or $0.65 per diluted share, for the prior-year period.

Total company revenue was $11.6 billion during the fiscal first quarter, an increase of 2.1 percent compared to the prior-year period, and included a comparable store sales decline of 5.3 percent. As a result of the company's fiscal year change, the first quarter of fiscal 2013 included February 2012, which included a fifth ("extra") week. Excluding the extra week, total company revenue declined 4.3 percent compared to the prior-year period. Areas of comparable store sales growth in the Domestic segment included tablets and mobile phones within the Computing & Mobile Phones revenue category, eReaders within the Consumer Electronics revenue category and Appliances. These increases were more than offset by comparable store sales declines primarily in notebooks within the Computing and Mobile Phones revenue category, gaming within the Entertainment revenue category, and digital imaging and televisions within the Consumer Electronics revenue category. The Domestic segment online channel revenue grew 20 percent compared to the prior-year period.

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05.22.2012

dELiA*s, Inc. Announces First Quarter 2012 Results

dELiA*s, Inc., a multi-channel retail company comprised of two lifestyle brands primarily targeting teenage girls and young women, today announced the results for its first quarter of fiscal 2012.

Total revenue increased 6.7% to $52.5 million from $49.1 million in the first quarter of fiscal 2011. Revenue from the retail segment increased 6.8% to $28.9 million, including a comparable store sales increase of 7.3%. Revenue from the direct segment increased 6.6% to $23.6 million.

Consolidated gross margin was 33.2% compared to 33.5% in the prior year quarter, primarily due to increased shipping and handling costs partially offset by increased merchandise margins and leveraging of occupancy costs.

Net loss was $3.7 million, or $0.12 per diluted share, compared to net loss for the first quarter of fiscal 2011 of $4.5 million, or $0.14 per diluted share. The net loss for the first quarter of fiscal 2012 included a gift card breakage benefit of $0.6 million, or $0.02 per diluted share, and income tax expense of $43,000. The net loss for the first quarter of fiscal 2011 included a gift card breakage benefit of $38,000, as well as a benefit for income taxes of $1.0 million, or $0.03 per diluted share.

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05.22.2012

Williams-Sonoma, Inc. Announces First Quarter 2012 Results

Williams-Sonoma, Inc. today announced operating results for the first quarter of fiscal 2012 ended April 29, 2012 (“Q1 12”).

Net revenues increased 6.1% to $818 million from $771 million in the first quarter of fiscal 2011 ended May 1, 2011 (“Q1 11”). Comparable brand revenue increased 5.4%.

Operating margin, including unusual business events, decreased to 6.0% from 6.7% in Q1 11. Excluding unusual business events, non-GAAP operating margin in Q1 12 was equal to Q1 11 at 6.9%.

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05.22.2012

UPM Plants Thousands of Trees with School Children

UPM organises a global Plant a Tree Day each year in spring and especially on May 22nd, the UN International Day for Biodiversity. This year school children and other stakeholders in Finland, the UK, Russia, China, the US and Uruguay participated in Plant a Tree events.

In Finland the school children and UPM forest professionals plant trees together in Pyhäjärvi, Nokia and Joroinen. UPM participates also as a partner in the ENO tree planting day in Espoo, one of the global events organized by ENO Environment Online. The seedlings for these events come from UPM’s nursery in Joroinen, which produces high quality seedlings of native origin to be used to regenerate UPM forest service customers’ and UPM company forests.

“A tree seedling and a school child are creators of the future,” says Päivi Salpakivi-Salomaa, Vice President, UPM Environment. “Planting a tree is an investment and good for the climate. A growing tree sequestrates atmospheric carbon throughout its lifetime. The new forest improves the quality of surface and ground waters, it creates the preconditions for berry and mushroom production and makes a habitat for hundreds of other species.”

Every year UPM plants more than 50 million tree seedlings. The long time span of sustainable forestry materialises in tree planting. Forest regeneration is a central element of responsible forest management.

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05.22.2012

Clean Energy Standard Bill will Discourage Use of Biomass for Renewable Energy

The National Alliance of Forest Owners (NAFO) today urged the Senate Committee on Energy and Natural Resources to include a definition of biomass in clean energy legislation that will promote rather than discourage the use of biomass to meet America’s renewable energy goals. NAFO provided written testimony for the Committee’s hearing on S. 2146, the Clean Energy Standard Act of 2012, which would create a federal mandate for sources of clean energy beginning in 2015 with a 24 percent share of total energy production and increasing to 82 percent in 2035.

“Forest biomass has been recognized by the President as a key part of an ‘all of the above’ solution to our nation’s energy needs,” said Dave Tenny, President and CEO of NAFO. “Unfortunately, this bill discourages the use of forest biomass in direct contradiction to that approach. By excluding forest biomass from the definition of ‘Renewable Energy’ and inserting legally complicated requirements, the bill creates uncertainties that will discourage forest biomass use by making compliance too expensive and vulnerable to lawsuits”

The bill defines “Qualified Renewable Biomass,” using terms and criteria from national forest management that have been the source of protracted litigation for decades. The new definition would overlay the existing framework of well–established federal, state and local laws, which currently govern private forest practices.

The bill further requires that qualified biomass be assigned a “carbon intensity factor,” ignoring the long-standing international recognition of sustainable biomass combustion in place of fossil fuel combustion as beneficial for the climate.

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05.22.2012

Shiner International, Inc. Announces Results for the First Quarter of 2012

Shiner International, Inc., an emerging global supplier of packaging solutions for food, tobacco, and consumer products, today announced its financial results for the quarter ended March 31, 2012.

Total revenue for the three months ended March 31, 2012 were $17.4 million, an increase of 9.2% compared to total revenue of $15.9 million for the same quarter ended March 31, 2011. This increase was mainly attributable to an increase sales in BOPP film and advanced film. BOPP tobacco revenue increased 24.9%, or $2.0 million, in the three months ended March 31, 2012 to $10.0 million as compared to $8.0 million for the same period in 2011, which is benefited from the operation of our new BOPP tobacco film line resulting in better quality and powerful competitiveness. Coated film revenue decreased 16.3%, or $0.8 million, to $4.1 million in the three months ended March 31, 2012 as compared to $4.9 million for the same period in 2011. Our advanced film revenue increased 67.1%, or $0.9 million, to $2.2 million in the three months ended March 31, 2012 as compared $1.3 million for the same period in 2011, this strong growth tendency was mainly driven by our increased exportation to Vietnam market. Our color printing segment revenues decreased 37.8%, or $0.6 million, to $1.0 million in the three months ended March 31, 2012 as compared to $1.7 million for the same period in 2011.

Internationally, we sell three lines of products: advanced film (anti-counterfeit film), coated film, and color printing. International sales for the three months ended March 31 2012 were $3.0 million, or 17.2%, of our revenues in 2012 as compared to $2.8 million or 18.0% of revenue for the corresponding period in the fiscal year ended 2011. The figures presented that international sales remained steady with little increase. All international sales are indirectly using a network of distributors and converters.

Shiner's gross profit for the three months ended March 31, 2012 was $2.2 million, the gross profit margin decreased to 12.5% compared to 14.9% of total revenue for the same quarter of 2011. The decrease in gross profit margin was primarily a consequence of an increase in overhead unit rates as a result of increased labor costs and depreciation of the new property.

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05.22.2012

IWCO Direct Begins Next Phase of Platform Enhancements

IWCO Direct, a leading national provider of direct marketing solutions, has begun to implement the next phase of its strategic platform enhancements. This includes the expansion of its headquarters campus and the installation of numerous pieces of high-speed equipment in Chanhassen and across the platform. These enhancements are designed to provide customers with significantly increased direct mail personalization opportunities, reduced cycle times and enhanced postal optimization.

A key, strategic element of the platform enhancements is the move of IWCO Direct's Chanhassen lettershop and its second Mail-Gard critical communication recovery center to a 150,000 sq. ft. facility adjacent to its headquarters. The facility will be fully functional by July and will support future expansion opportunities.

In another series of platform enhancements, IWCO Direct has completed installation of a new Mitsubishi 3F16 sheet-fed press in Chanhassen. One of the fastest presses available, it is capable of producing 16,000 impressions per hour, and adds aqueous coating to IWCO Direct's print capabilities. In addition, IWCO Direct is installing 22 Océ 8750 digital web printers which will increase personalization capacity by approximately 35 percent. In total, IWCO Direct will install more than 60 pieces of high-speed equipment at its Chanhassen and Hamburg, Pa. facilities during the next five months. The added equipment will provide customers with greater personalization opportunities while increasing capacity by nearly 30 percent to 385 million direct mail packages per month. A full list of IWCO Direct's high-speed personalization technology, web presses, envelope inserters and other technology can be found on IWCO Direct's website.

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05.22.2012

Official Statement from Houghton Mifflin Harcourt

Today, Houghton Mifflin Harcourt filed a “pre-packaged” comprehensive financial restructuring plan that will strengthen the Company financially so we can continue to invest in our business and ensure we are well positioned for the future. This plan, which is supported by the vast majority of our key financial stakeholders, will eliminate $3.1 billion of debt through a debt to equity transaction, and reduce our annual cash interest costs. The Company today lodged voluntary petitions for reorganization under Chapter 11 in the U.S. Bankruptcy Court for the Southern District of New York. With a more appropriate capital structure to support our strategic plan and business objectives, we will have greater financial flexibility to pursue growth opportunities.

Houghton Mifflin Harcourt will maintain normal day-to-day business operations throughout the restructuring process, and we expect no disruptions to our relationships with our customers, agents, authors, employees, business partners and suppliers. Our customers will continue to receive the high quality content they have come to expect from us, and service without interruption. Additionally, our plan provides for our suppliers and vendors to be paid in full during and after this process and for our employees to continue receiving their usual pay and benefits.

Because of the high level of support we have obtained from our lenders, bondholders and shareholders for our plan, we seek to complete this financial restructuring quickly, likely by the end of June 2012.

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05.22.2012

Hastings Entertainment, Inc. Reports Results for the First Quarter of Fiscal 2012

Hastings Entertainment, Inc., a leading multimedia entertainment retailer, today reported results for the three months ended April 30, 2012. Net earnings were approximately $0.8 million, or $0.10 per diluted share, for the first quarter of fiscal 2012, compared to net earnings of $0.4 million, or $0.05 per diluted share, for the first quarter of fiscal 2011.

Total revenues for the first quarter decreased approximately $8.6 million, or 7.0%, to $115.5 million compared to $124.1 million for the first quarter of fiscal 2011. As of April 30, 2012, we operated 8 less superstores, as compared to April 30, 2011. In addition to our superstores, we operated two additional concept stores, TRADESMART (Littleton) and Sun Adventure Sports (Lubbock), as compared to April 30, 2011.

For the first quarter, total merchandise gross profit dollars decreased approximately $0.3 million, or 0.9%, to $32.0 million from $32.3 million for the same period in the prior year, primarily due to a decrease in revenue partially offset by an increase in margin rates. As a percentage of total merchandise revenue, merchandise gross profit increased to 32.1% for the quarter compared to 31.0% for the same period in the prior year. The increase in gross profit rate resulted primarily from a shift in mix of revenues by category as compared to the same quarter in the prior year, lower costs to return products to vendors and lower distribution center costs partially offset by increased freight expense.

For the first quarter, total rental gross profit dollars decreased approximately $1.9 million, or 15.6%, to $10.3 million from $12.2 million for the same period in the prior year, primarily due to a decrease in revenue. As a percentage of total rental revenue, rental gross profit increased to 65.2% for the quarter compared to 62.7% for the same period in the prior year, resulting primarily from lower depreciation and shrinkage expense. Depreciation is a function of rental purchases which were significantly lower for the first quarter of fiscal 2012 than the same quarter in the last year due to lower anticipated rental revenues.

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05.22.2012

'House Beautiful' becomes first Pinterest-enabled print magazine

Hearst Corporation's House Beautiful, a home decorating magazine, will allow readers to pin images directly from the print version to Pinterest using a new Print-to-Pin solution from Digimarc Corporation, said Ed Knudson, Digimarc's EVP of sales and marketing.

“Most publications are realizing very quickly that print has a long runway. It's still a very immersive and emotional medium,” Knudson said. “[Publishers] are looking to enhance the print experience with some of these digital experiences and I think we'll see more publications breathing new life into print.”

For the June issue, users can download either the HB Connect app or the Digimarc Discover App from the iTunes App Store to scan a watermark on the “Kitchen of the Month” feature in the print magazine. The watermark links readers to the article's Pinterest pinboard, which displays the seven images from the print article. Readers can then re-pin the images to their own Pinterest pinboards, said Knudson.

Regardless of how many times a photo is pinned and re-pinned, it links back to the original advertiser, thus providing a clear marketing advantage, Knudson said. The images "maintain the quality of the brand," he noted.

Using a watermark instead of a QR code also preserves the aesthetic of the creative work, Knudson said. “When you start slapping QR codes and tags all over the place it starts to cheapen the brand,” Kundson said.

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05.22.2012

Crude Falls on OECD Forecast Cut, Iran Inspection Accord

Crude futures slipped after the Organization for Economic Cooperation and Development trimmed economic growth forecasts in the euro area and Iran agreed to let western nuclear inspectors into the country.

The OECD said Europe’s debt crisis risks spiraling and seriously damaging the world economy, which would hamper demand for fuels. Iran and the International Atomic Energy Agency reached an agreement on nuclear inspections, which they will sign in the next days in the Islamic republic, the IAEA’s Secretary-General Yukiya Amano said today in Vienna.

“The macro environment has clearly worsened and we’d expect energy prices to be broadly lower over the next month.” said Guy Wolf, a macro strategist at Marex Spectron Group Ltd., a London-based broker. “Europe is the main factor that can drive oil prices, and a euro-zone breakup would mean a short sharp drop in economic activity.”

Oil for June delivery on the New York Mercantile Exchange, which expires today, was 57 cents lower at $92 a barrel in electronic trading as of 11:23 a.m. London time. The more- actively traded July contract fell 56 cents to $92.30. Front- month futures climbed 1.2 percent yesterday and are down 6.9 percent this year.

Brent oil for July settlement dropped as much as 71 cents to $108.10 a barrel on the London-based ICE Futures Europe exchange and was last at $108.31. The European benchmark contract was at $15.97 a barrel premium to West Texas Intermediate crude, up from $15.95 yesterday.

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05.22.2012

Acquisition of UPM's packaging paper operations approved by the requisite regulatory authorities

The requisite regulatory authorities have approved Billerud Finland Oy's acquisition of UPM's packaging paper operations at Pietarsaari and Tervasaari. Billerud Finland Oy is a wholly owned subsidiary of Billerud AB. The purchase price is around EUR 130 million.

“The acquisition strengthens our offering in packaging paper and provides us with a strong platform for the further development of smarter packaging solutions. Also, the acquisition sharply reduces our pulp exposure as we will purchase an annual pulp volume corresponding to around 85% of Billerud's present pulp sales volume. We also reduce our currency exposure,” says Per Lindberg, President and CEO of Billerud.

The transaction involves Billerud taking over one paper machine at Pietarsaari and one at Tervasaari, both in Finland. In 2011, sales amounted to around EUR 220 million (SEK 2 billion). Manufactured products are various packaging papers (sack/kraft paper) with extensive areas of use in the food, retail, construction and other industries.

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05.22.2012

Postal Reform and Quill v. North Dakota (A. Taub, Midland National)

This month the Senate passed the postal reform bill S 1789 and the House of Representatives bill 2309 is currently being debated. It is in the best interest of all mailers that postal reform is passed. Many in Congress believe that raising rates on flats is the answer. Simple economics (2007 rate case) tells us if they raise the flat rates, mailers will reduce circulation. If rates remain the same or are reduced, mailers will mail and prospect more, creating more volume for the Post Office. One proposal by the Postal Regulatory Commission has rates increasing as much as 22%.

Midland Paper strongly supports postal reform and the long term benefits it would provide for our customers. Not surprisingly, postal reform is opposed by the postal unions and postal management.

Currently the Post Office is losing $25 million per day and they need to reduce their total cost by $22 billion by 2015. Currently, the Post Office has a no layoff policy and labor contributes to 80% of the total costs within the Post Office. Besides labor, excess capacity is a significant factor in the massive losses of the Post Office. They must reduce the overall cost of processing flats and first class mail and most believe they have plenty of capacity to do this while downsizing their overall operations.

Midland Paper would urge you to get in touch with your Members of Congress and let them know that postal reform is vital to your business, employees and suppliers.

Another major issue facing mailers is the 20-year-old law established in Quill v. North Dakota, which upheld remote sellers' rights to not have to collect sales or use taxes from customers residing in States in which the marketers have no physical presence. Currently Members of Congress want to overturn this law, which would force mailers to start collecting taxes from customers in more than 9,000 taxing jurisdictions.

If postal reform does not pass and/or Quill v. North Dakota is overturned the overall circulation of mailers will be greatly reduced.

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05.22.2012

Urban Outfitters, Inc. Reports Record Q1 Sales

Urban Outfitters, Inc., a leading lifestyle specialty retail company operating under the Anthropologie, BHLDN, Free People, Terrain and Urban Outfitters brands, today announced net income of $34 million or earnings per diluted share of $0.23 for the three months ended April 30, 2012.

Total Company net sales rose by 9% over the same quarter last year to $569 million. Comparable retail segment net sales, which include our Direct-to-Consumer channels, increased 2% for the quarter, while comparable store net sales decreased 1%. Comparable retail segment net sales at Free People and Urban Outfitters increased 2%, and 6%, respectively, while comparable retail segment net sales at Anthropologie decreased 2% for the quarter. Direct-to-Consumer comparable net sales increased 15% and wholesale segment net sales increased 2% for the quarter.

For the first quarter ended April 30, 2012, the gross profit rate declined by 131 basis points versus the prior year's comparable period. The decline in the rate was primarily due to occupancy deleverage related to an increased number of store openings versus the prior comparable quarter, as well as, an increased number of new and non-comparable European stores. Also contributing to the rate decline, were slightly higher markdowns on a few women's apparel categories across all brands.

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05.21.2012

NewPage Price Increase Announcement

Effective with all new and existing orders with confirmed delivery dates of July 1, 2012 or later,

NewPage is increasing the transaction price for the following coated sheet and sheeter roll products:

Anthem®/Fortune®/Gusto® 60 and 70 lb. Text $3.00/cwt US$/CAD$

Anthem®/Fortune®/Gusto® All Cover and greater than 70 lb. Text $2.00/cwt US$/CAD$

This increase applies to all finishes and private label programs.

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05.21.2012

Kruger to reassess the viability of its Corner Brook operation

Kruger Inc. today announced that it will reassess the viability of Corner Brook Pulp and Paper's operations after one of four groups of pension plan members rejected the proposal to apply funding relief measures to its pension plan deficits.

Today, independent auditor Brian N. Hillier issued his final report showing the total number of objections received before the May 17 deadline from each group, as follows:

-Pension Plan for Unionized Employees:

-Active members (326): ...............177 objections ..........54.3%

-Retired members (617): 31 objections 5.0%

-Pension Plan for Non-Unionized Employees:

-Active members (78): ..................6 objections .............7.7%

-Retired members (218): ..............7 objections .............3.2%

Under NL legislation, in order for the relief measures to be applied, they cannot be opposed by more than one-third of members in each group (active and retirees). Consequently, with 54.3% of active unionized employees opposing the proposal, the relief measures cannot be applied to the unionized employees' pension plan.

The relief measures were a crucial element in the Mill's strategy to improve its competitiveness and secure its future. In recent years, the Kruger Company has gone to extraordinary lengths to support its Corner Brook operation in a very challenging market afflicted by declining demand for newsprint, increasing energy costs and the negative effects of a strong Canadian currency on exports.

In addition to these challenges, the Corner Brook Mill has to contend with other Canadian paper mills that have competitive operating costs and benefit from the additional advantage of funding relief measures for their own pension plan deficits.

The Company is disappointed with this outcome, especially considering the countless efforts that were put in over the last few weeks to communicate with plan members to seek their support.

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05.21.2012

Buckeye Earns Forestry Certifications

Buckeye Technologies Inc. announced today that Buckeye Florida has achieved forestry certifications from three internationally recognized organizations that promote responsibly managed forests: the Forest Stewardship Council™ (FSC), the Sustainable Forestry Initiative®(SFI), and the Programme for the Endorsement of Forest Certification (PEFC).

The purpose of these certifications is to ensure that companies which use forest resources meet society’s needs without compromising the ability of future generations to meet their own needs.

Buckeye received the certifications after a rigorous year-long process of developing documents, manuals, and procedures to guide fiber procurement and track fiber chain of custody.

The certification to the FSC standard is for Chain of Custody. The SFI certifications are for the SFI Standard 2010-2014 and for SFI Chain of Custody. The certification to the PEFC standard is for Chain of Custody.

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05.21.2012

International Paper will close Minden plant

International Paper Co. today announced it will permanently close its Minden Container Plant by July 17, resulting in the loss of about 60 jobs.

“Following the merger with Temple-Inland, we have more capacity than our customers need in this area,” said Doug Strickel, region general manager. “Other area facilities are better positioned to handle the production requirements that will be necessary as we consolidate our operations and, unfortunately, that led to the decision to close this plant.”

International Paper will discuss plans for severance and other benefits with the local union, United Steelworkers Local 677.

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05.21.2012

AF&PA Releases 2012 U.S. Containerboard Statistics Report

The American Forest & Paper Association released its April 2012 U. S. Containerboard Statistics Report today. Containerboard production lost 1.9% over the same month last year. Production was down 8% compared to March 2012, and the month over month average daily production decreased 5%. The containerboard operating rate for April 2012 fell over March 2012 from 95.7% to 91%.

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05.21.2012

AF&PA Releases April 2012 Kraft Paper Sector Report

The American Forest & Paper Association released its April 2012 Kraft Paper Sector Report yesterday. Total Kraft paper shipments were 134.7 thousand tons, an increase of 0.8% compared to April 2011. Total inventory for April was 72.3 thousand tons. Total Bleached Kraft shipments were up over last April.

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05.21.2012

AF&PA Releases April 2012 U.S. Paperboard Report

The American Forest & Paper Association released its April 2012 U.S. Paperboard Report yesterday.

Total boxboard production decreased by 2.4% compared to April 2011 and decreased 0.9% from last month. Unbleached Kraft Folding production increased over the same month last year and increased compared to last month. Total Solid Bleached Boxboard & Liner production decreased compared to April 2011 and decreased compared to last month. The production of Recycled Folding decreased compared to April 2011 and decreased when compared to last month.

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05.18.2012

AAA Fuel Gage & Exchange Rates

AAA’s Fuel Gage Report as of 5/18/12
National Unleaded Regular:
Current Average - $3.713/gallon
Month Ago Average - $3.899/gallon
Year Ago Average - $3.926/gallon
Highest Recorded Average - $4.114/gallon on 7/17/08
Diesel:
Current Average - $4.017/gallon
Month Ago Average - $4.141/gallon
Year Ago Average - $4.105/gallon
Highest Recorded Average - $4.845/gallon on 7/17/08

Current Exchange Rates as of 5/17/12
American Dollar to Canadian Dollar = 0.98631 (120 day high - 1.01905 on April 26, 2012; low 0.964227 on December 14, 2011)
American Dollar to Chinese Yuan = 0.158098 (120 day high – 0.159363 on May 2, 2012; low 0.157085 on December 1, 2011)
American Dollar to Euro = 1.2682 (120 day high - 1.3511 on December 2, 2011; low 1.2669 on January 16, 2012)
American Dollar to Japanese Yen = 0.0124614 (120 day high – 0.0131387 on February 2, 2012; low 0.0119026 on March 21, 2012)
American Dollar to Mexican Peso = 0.072338 (120 day high – 0.0793808 on March 14, 2012; low 0.0715026 on December 28, 2011)

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05.18.2012

TC Media acquires a majority stake in Redux Media

TC Media is pleased to announce it has completed the acquisition of a majority stake in Redux Media, a leading online advertising network. Redux Media manages mass online display inventory, optimizing it into custom-targeted and brand-safe advertising channels. The company delivers over 12 billion monthly impressions to more than 80 million unique visitors in Canada and the US (comScore Media Metrix - April 2012). Redux Media’s Real-Time bidding (RTB) solution enables 5,000 publishers to offer advertisers maximum return on investment across 15 content channels.

The transaction is in line with TC Media’s strategy of broadening its existing digital network. TC Media and Redux Media’s combined offering will allow the two companies to reach more than 18.7 million unduplicated unique visitors per month or two thirds of all online Canadians.

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