Paperclips Blog | Quad Graphics Results

  • 02.11.2013

    Ilim Group Reports on Its 2012 Manufacturing Performance

    Over 2012 Ilim Group’s mills in Siberia and in the Northwest of Russia manufactured more than 2,580,000 tons of pulp and paper products.

    The figures include 1,639,000 tons of market pulp, 2% more as compared to the previous year.

    Market containerboard output remained flat as compared to 2011 and reached 708,000 tons.

    Paper production increased by 5% and reached 235,000 tons.

    Corrugated board production of OAO Ilim Gofra totaled 129,526,000 m2, going up by 6% as compared to 2011.

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  • 02.08.2013

    Tronox Limited Announces Preliminary Unaudited 2012 Financial Results

    Tronox Limited announced today that it expects to report fourth-quarter 2012 revenue of $482 million and adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) of approximately $70 million, which is below previous guidance, due to the combined effect of three scheduled ore shipments in the quarter that were either delayed or cancelled by customers and a $9.6 million lower of cost or market (LCM) inventory write-down.  One of the delayed shipments constituting 10,000 metric tons of chloride slag was shipped on January 7, 2013.  In addition, while zircon sales volumes were approximately as forecast, zircon prices in the fourth quarter were roughly 12 percent below forecast. 

    For the first time since 2005, fourth-quarter pigment sales volumes were higher than those of the preceding third quarter.  The sequential difference was only 1,429 metric tons, but the company views this increase in what is normally a seasonally affected lower quarter as a positive sign.  Nevertheless, because prices declined 10.7 percent sequentially, which was more than the company had forecast, adjusted EBITDA from pigment sales was approximately $10 million less than forecasted.

    The aggregate EBITDA effect of the missed mineral sands shipments, the zircon pricing, the LCM charge, and the pigment shortfall was partially offset by operating cost savings achieved across all business units.

    Tronox had a cash balance of $716 million at year-end 2012.

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  • 02.08.2013

    The Washington Post Company Agrees to Sell The Herald to Black Press Ltd.

    The Washington Post Company announced today that it has signed an agreement to sell The Herald, a daily and Sunday newspaper headquartered in Everett, WA, La Raza, and its other print and online products to Black Press Ltd. and its subsidiary Sound Publishing. The transaction is expected to close in early March 2013.

    Sound Publishing is the largest community media organization in Washington State, with 39 newspaper titles and a combined circulation of 732,700. The company prints all of its own newspapers and numerous other publications at a centrally located, state-of-the-art printing facility in Everett, WA. Sound Publishing is a subsidiary of Black Press Ltd., headquartered in Victoria, BC, Canada. Founded in 1975, Black Press publishes more than 170 newspapers and other publications in British Columbia, Alberta and Washington State, as well as the Honolulu (Hawaii) Star-Advertiser and Akron (Ohio) Beacon-Journal daily newspapers. It is administered and majority owned by David Holmes Black of Victoria, BC.

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  • 02.08.2013

    No Surprises in Print Circulation But Digital Doubles

    While print magazines continue to decline in circulation, the number of digital magazine copies sold has more than doubled since the second half of 2011, according to the latest AAM semiannual Snapshot (formerly known as FAS-FAX) report for U.S. consumer magazines. The Alliance for Audited Media (which was previously known as the Audit Bureau of Circulation) reports that for the second half of 2012, 289 magazines reported more than 7.9 million digital replica editions.

    Nearly 65 percent of magazines that filed this period claimed digital replica editions as part of their total circulation. However, while the growth in digital circulation is promising, digital replica editions still comprise only 2.4 percent of the industry's overall circulation?up from 1 percent this time last year, when 245 magazines reported approximately 3.2 million digital replica copies.

    The top 25 magazines in print circulation remained almost identical to last year's list. ESPN the Magazine is the only newcomer, supplanting Smithsonian in the number 25 spot. The same 10 magazines populate the top ten spots, though a few have shifted positions: Game Informer Magazine swapped spots with Better Homes and Gardens to take the number three spot and Family Circle moved up two spots, to number 7 while National Geographic dropped two.

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  • 02.08.2013

    Mag Bag: Digital Circ Remains Low, Print Newsstand Drops

    While magazine publishers are aggressively expanding their digital content and hawking digital subscriptions, digital circulation remains a small proportion of total circulation, according to the Alliance for Audited Media.
     
    In the six-month period ending December 2012, the 289 American magazines tracked by AAM had a total digital circulation (defined as digital replica editions) of 7.9 million, equal to around 2.4% of the overall combined print and digital circulation of 329.2 million. The digital circ proportion is up from 1.7% in the first half of 2012, indicating that digital circ is growing rapidly, albeit on a small base.
     
    According to AAM, the magazine boasting the biggest digital circulation is Game Informer, with 2,305,816 digital replica editions. Next up is Maxim, with digital circ of 259,529, followed by Cosmopolitan, with digital circ of 254,751. National Geographic came fourth with digital circ of 160,077, while fifth place went to Poder Hispanic, with 149,838. Reader’s Digest had a digital circ of 147,149, and Taste of Home 103,961.
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  • 02.08.2013

    MWV Expands Pharmaceutical Manufacturing Centre of Excellence

    MeadWestvaco Corporation, a global leader in packaging and packaging solutions, announced today the expansion of its pharmaceutical manufacturing Centre of Excellence, based in Hemer, Germany.

    The Centre is the core for MWV’s global pharmaceutical dispensing systems manufacturing network. The $7.5 million project includes expanding clean room molding and assembly capacity and the introduction of a state of the art logistics system to control the flow of finished goods and components. MWV is making this investment in its Healthcare business based upon the business’s rapid growth, especially in the Preservative-Free packaging market.

    "This investment underlines MWV’s position as an innovation leader in healthcare dispensing systems and our commitment to manufacturing high quality products in the appropriate regulatory environment,” said Sven-Uwe Höhm, vice president & general manager, Medical Plastics Division.

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  • 02.08.2013

    Siberian Mills of OJSC Ilim Group Manufactured Over 1,480,000 Tons of P&P Products

    Over 2012, Ilim Group’s Bratsk and Ust-Ilimsk Mills (Irkutsk Oblast) manufactured over 1,480,000 tons of pulp and paper products. As compared to the last year production output remained nearly flat.

    The figures include 1,258,000 tons of market pulp. Market containerboard production amounted to 222,000 tons.

    Logging volumes of OJSC Ilim Group in Siberia reached 6.7 million m3 at the year-end 2012.

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  • 02.08.2013

    Glatfelter Reports Earnings for Full Year and Fourth Quarter 2012

    Glatfelter today reported 2012 full year adjusted earnings per diluted share of $1.25 (GAAP $1.36) compared with $1.01 per diluted share in 2011 (GAAP $0.93).  For the 2012 fourth quarter Glatfelter reported adjusted earnings of $11.2 million, or $0.26 per diluted share, compared with $14.2 million, or $0.32 per diluted share, in the 2011 fourth quarter.  On a GAAP basis, fourth quarter 2012 net income totaled $7.0 million, or $0.16 per diluted share, compared with $9.7 million, or $0.22 per diluted share, in the fourth quarter of 2011.  The fourth quarter 2012 results were adversely impacted by costs related to strategic initiatives and a trial in December for the Fox River matter, a higher tax rate, and the impact of weaker economic conditions in Europe, each in nearly equal proportions.
     
    Consolidated net sales in the fourth quarter of 2012 totaled $391.4 million compared with $391.9 million in the fourth quarter of 2011, however unfavorable foreign currency translation of $3.8 million adversely impacted the comparison.  On a constant currency basis, net sales were slightly higher.
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  • 02.08.2013

    AmericanStyle Suspends Publication

    AmericanStyle, a consumer quarterly founded in 1994, has announced that it will suspend publication immediately in a letter to subscribers.

    The small Baltimore-based magazine, published by The Rosen Group, serves the fine arts and crafts collectors market, and had a circulation of 75,000 just three years ago.
     
    Over that time, staff has gone from six full-time to two; frequency from six-per-year to quarterly; the book from 120 pages to 64 in its last issue; ad pages from 50 or 60 to 31. Editor-in-chief Hope Daniels confirms the distribution base is "less" currently, but wouldn't go further, citing ongoing negotiations with potential buyers.
     
    Daniels says those cuts-and others, including folio binding changes and furlough weeks-weren't enough as the company tried to whether the financial storm.
     
    "When people need to meet their bills, pay their rent, feed their families, put gas in their car, luxury items take the hit," she says.
     
    AmericanStyle is being considered for purchase or partnership by at least two publishing companies, according to Daniels.

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  • 02.08.2013

    AAA Fuel Gage & Exchange Rates

    AAA Fuel Gage 2/08/13
    National Unleaded Regular:
    Current Average - $3.567/gallon
    Month Ago Average - $3.304/gallon
    Year Ago Average - $3.488/gallon
    Highest Recorded Average - $4.114/gallon on 7/17/08
    Diesel:
    Current Average - $4.019/gallon
    Month Ago Average - $3.910/gallon
    Year Ago Average - $3.897/gallon
    Highest Recorded Average - $4.845/gallon on 7/17/08

    Current Exchange Rates as of 2/08/13
    American Dollar to Canadian Dollar = 1.001920
    American Dollar to Chinese Yuan = 0.160378
    American Dollar to Euro = 1.341389
    American Dollar to Japanese Yen = 0.010817
    American Dollar to Mexican Peso = 0.078596

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  • 02.08.2013

    Brent Crude Advances to Nine-Month High, Boosts Premium to WTI

    Brent crude, headed for a fourth weekly advance, climbed to a nine-month high in London after stronger-than-expected trade data from China, the world’s second-biggest user.

    Futures rose to more than $118 a barrel for the first time since May 3, boosting their premium to West Texas Intermediate for an eighth day to the most in almost two months. China’s exports climbed 25 percent in January from a year earlier and crude imports increased to the highest level in eight months, customs figures showed. Oil markets will “remain tight” in the first quarter and may push prices above its forecasts, Goldman Sachs Group Inc. said.

    “The numbers out of China are good,” said Nic Brown, head of commodity research at Natixis SA in London, who forecasts that Brent will average $107.40 this year. “China appears to be significantly stronger than even we were expecting. This is a clear upside risk for oil prices.”

    Brent for March settlement advanced as much as $1.17, or 1 percent, to $118.41 a barrel on the London-based ICE Futures Europe exchange and was at $118.26 at 11:51 a.m. local time.

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  • 02.08.2013

    BillerudKorsnas Year-end Report January-December 2012

    Fourth quarter 2012
     Net sales amounted to SEK 3 068 million, compared with SEK 2 628 million in the previous quarter. The increase was due to the Korsnäs acquisition.
     Operating profit totalled SEK 25 million. The decline of SEK 136 million from the preceding quarter is mainly attributable to non-recurring and seasonal factors.
     Results for the quarter were charged with non-recurring costs of SEK 102 million. Adjusted to reflect these non-recurring costs, operating profit totalled SEK 127 million.
     Prices in local currency for packaging materials were improved by just below 2% than in the previous quarter due to implementation of earlier announced price increases.
     The acquisition of Korsnäs was completed on 29 November 2012 and a preferential rights issue valued at approximately SEK 2 billion was carried out.
     
    Full year 2012 compared with the same period in 2011
     Net sales amounted to SEK 10 427 million, a rise of 12%.
     Operating profit fell to SEK 489 million, mainly as a result of lower prices in local currency and a less favourable currency situation.
     In all, non-recurring costs amounted to SEK 170 million (10).
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  • 02.08.2013

    AptarGroup Reports Fourth Quarter and Annual Results

    AptarGroup, Inc. today reported fourth quarter and annual results. The Company also updated the status of its previously announced plan to optimize certain European operations.

    Fourth Quarter 2012 Summary
    •Reported sales increased 5% (core sales increased 2% excluding currency and acquisition effects)
    •Growth in the beauty, personal care, and beverage markets offset the anticipated softness in the generic allergy treatment market
    •Latin America and Asia sales growth remained strong
    •Reported earnings per share of $0.52 included the negative impact of $0.05 per share from charges related to the European Operations Optimization plan

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  • 02.08.2013

    Stein Mart, Inc. Reports January 2013 Sales

    Stein Mart, Inc. today reported sales for the five weeks of January. The January period includes an extra week in fiscal 2012, creating a 53-week fiscal year that occurs approximately every six years in the accounting cycle for most retail companies.

    Total sales for the five-week period ended February 2, 2013 were $78.9 million, an increase of 31.3 percent over total sales of $60.1 million for the four-week period ended January 28, 2012. Total sales for the extra 53rd week were approximately $15.8 million. Comparable store sales for the four-week period ended January 26, 2013 increased 4.6 percent over the four-week period ended January 28, 2012.

    For the 14-week period ended February 2, 2013, total sales were $365.2 million, an increase of 11.3 percent over total sales of $328.2 million for the 13-week period ended January 28, 2012. Comparable store sales for the 13-week period ended January 26, 2013 increased 6.0 percent over the 13-week period ended January 28, 2012.

    Total sales for the 53-week period ended February 2, 2013 were $1.214 billion, an increase of 4.6 percent over total sales of $1.160 billion for the 52-week period ended January 28, 2012. Comparable store sales for the 52-week period ended January 26, 2013 increased 2.7 percent over the 52-week period ended January 28, 2012.

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  • 02.08.2013

    Gap Inc. Reports January Sales and Strong Fourth Quarter Results

    Gap Inc. today reported that January 2013 net sales for the five-week period ended February 2, 2013 were $1.13 billion compared with net sales of $833 million for the four-week period ended January 28, 2012. The company’s comparable sales for January 2013 were up 8 percent compared with a 4 percent decrease for January 2012.
     
    In addition, the company reported that net sales for the fourth quarter of fiscal year 2012, which ended February 2, 2013, were $4.73 billion compared with $4.28 billion for the fourth quarter last year. The company’s comparable sales for the fourth quarter of fiscal year 2012 were up 5 percent compared with a 4 percent decrease in the fourth quarter last year.

    The company noted that fiscal year 2012 had 53 weeks versus 52 weeks in fiscal year 2011. As a result, net sales for January 2013, the fourth quarter of fiscal year 2012, and fiscal year 2012 include the additional week, while comparable sales exclude the 53rd week.

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  • 02.08.2013

    McClatchy Reports Fourth Quarter 2012 Earnings

    The McClatchy Company today reported a net loss in the fourth quarter of 2012 of $30.0 million or 35 cents per share, including a $60.0 million after-tax loss on debt refinancing. In the fourth quarter of 2011 the company reported net income of $42.0 million or 49 cents per diluted share.

    The company's fiscal 2012 reporting period is a 53-week year compared to a 52-week year in 2011, and as a result, the fiscal fourth quarter of 2012 includes 14 weeks compared to 13 weeks in the 2011 fiscal fourth quarter. The company estimates that the reported net loss in 2012 was reduced by approximately $4.0 million because of the additional week being reported.

    Revenues in the fourth quarter of 2012 were $355.7 million, up 1.2% from the fourth quarter of 2011. On a 13-week basis, fourth quarter total revenues were an estimated $333.0 million, down 5.3% compared to fourth quarter 2011, with advertising revenues of approximately $253.9 million, down 6.3%, and circulation revenues of about $65.7 million, down 1.9%.  On a 13-week basis, total digital advertising revenues grew 3.5% in the fourth quarter of 2012, with digital-only advertising revenues up 14.9% from the 2011 quarter. Total digital advertising represented 20.2% of total advertising revenues in the fourth quarter of 2012 compared to 18.5% of total advertising revenues in the fourth quarter of 2011.

    Net loss for fiscal 2012 was $0.1 million, or 0 cents per share and included the $60.0 million after-tax loss on debt refinancing taken in the fourth quarter of 2012. Net income for fiscal 2011 was $54.4 million, or 63 cents per diluted share.

    Revenues in 2012 were down 3.1% to $1.231 billion compared to $1.270 billion in 2011.  On a 52-week basis, 2012 total revenues were an estimated $1.208 billion, down 4.9% compared to 2011 total revenues, with advertising revenues of approximately $898.2 million, down 6.1% and circulation revenues of approximately $258.4 million, down 1.5%.

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  • 02.08.2013

    Nordstrom Reports January Sales

    Nordstrom, Inc. today reported an 11.4 percent increase in same-store sales for January.

    Similar to many other retailers, Nordstrom follows the retail 4-5-4 reporting calendar, which included an extra week in the fourth quarter of fiscal 2012 (the 53rd week). In the 53rd week, the company had preliminary total retail sales of approximately $162 million. The 53rd week is excluded from same-store sales calculations.

    Preliminary total retail sales of $951 million for the five week period ended February 2, 2013 increased 38.4 percent compared with total retail sales of $688 million for the four week period ended January 28, 2012. Excluding sales for the 53rd week, preliminary total retail sales for the four week period ended January 26, 2013 increased 14.9 percent.

    Fourth quarter same-store sales increased 6.3 percent compared with the same period in fiscal 2011. Preliminary fourth quarter total retail sales of $3.60 billion increased 13.5 percent compared with total retail sales of $3.17 billion for the same period in fiscal 2011.

    Fiscal year 2012 same-store sales increased 7.3 percent compared with the same period in fiscal 2011. Preliminary fiscal year 2012 total retail sales of $11.76 billion increased 12.1 percent compared with total retail sales of $10.50 billion for the same period in fiscal 2011.

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  • 02.08.2013

    Kohl's Corporation Reports January Comparable Store Sales

    Kohl’s Corporation reported today that comparable store sales for the four weeks ended January 26, 2013 compared to January 28, 2012 increased 13.3 percent. Due to the 53rd week in the fiscal 2012 calendar, fiscal January 2013 included a fifth week which ended on February 2, 2013. Sales for the fifth week of fiscal January 2013 were $169 million.

    Comparable store sales, which exclude sales for the fifth week of fiscal January 2013, increased 1.9 percent for the quarter and 0.3 percent for the year.

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  • 02.08.2013

    The New York Times Company Reports 2012 Fourth-Quarter and Full-Year Results

    The New York Times Company announced today fourth-quarter 2012 diluted earnings per share from continuing operations increased to $.76 from $.34 in the same period of 2011, largely due to the special items discussed below. Excluding severance and special items, diluted earnings per share from continuing operations decreased to $.32 in the fourth quarter of 2012 from $.39 in the fourth quarter of 2011. The decrease was due principally to a higher effective tax rate applicable in the fourth quarter of 2012 after the exclusion of severance and special items.

    The Company had operating profit of $44.0 million in the fourth quarter of 2012 compared with $90.8 million in the same period of 2011. Excluding depreciation, amortization, severance and the special items discussed below, operating profit was $124.5 million in the fourth quarter of 2012 compared with $126.8 million in the fourth quarter of 2011.

    “2012 showed both the opportunities and challenges we face as a company,” said Mark Thompson, president and chief executive officer. “We saw continued strong growth in digital subscriptions as well as increased revenue from our large print circulation base. Indeed, for the first time in our history, annual circulation revenues surpassed those from advertising. Our pay model continued to prove itself, with approximately 668,000 paid digital subscriptions across the Company at quarter end, up 13 percent from the end of the third quarter."

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  • 02.07.2013

    Postal Service Announces New Delivery Schedule

    The United States Postal Service announced plans today to transition to a new delivery schedule during the week of Aug. 5, 2013 that includes package delivery Monday through Saturday, and mail delivery Monday through Friday. The Postal Service expects to generate cost savings of approximately $2 billion annually, once the plan is fully implemented.
     
    “The Postal Service is advancing an important new approach to delivery that reflects the strong growth of our package business and responds to the financial realities resulting from America’s changing mailing habits,” said Patrick R. Donahoe, Postmaster General and CEO. “We developed this approach by working with our customers to understand their delivery needs and by identifying creative ways to generate significant cost savings.”
     
    Over the past several years, the Postal Service has advocated shifting to a five-day delivery schedule for mail and packages. However, recent strong growth in package delivery (14 percent volume increase since 2010) and projections of continued strong package growth throughout the coming decade led to the revised approach to maintain package delivery six days per week.
     
    “Our customers see strong value in the national delivery platform we provide and maintaining a six-day delivery schedule for packages is an important part of that platform,” said Donahoe. “As consumers increasingly use and rely on delivery services — especially due to the rise of e-commerce — we can play an increasingly vital role as a delivery provider of choice, and as a driver of growth opportunities for America’s businesses.”
     
    Once implemented during August of 2013, mail delivery to street addresses will occur Monday through Friday. Packages will continue to be delivered six days per week. Mail addressed to PO Boxes will continue to be delivered on Saturdays. Post Offices currently open on Saturdays will remain open on Saturdays.
     
    Market research conducted by the Postal Service and independent research by major news organizations indicate that nearly seven out of ten Americans (70 percent) supported the switch to five-day delivery as a way for the Postal Service to reduce costs in its effort to return the organization to financial stability.¹ Support for this approach will likely be even higher since the Postal Service plans to maintain six-day package delivery.
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  • 02.07.2013

    Catalog Mailers Fine with 5-day Delivery

    Direct-to-customer merchants who mail catalogs told Multichannel Merchant they are fine with the United States Postal Service's 5-day delivery plan, which is scheduled to go into effect the week of Aug. 5.

    Under the plan announced on February 6 by the USPS, catalogs and other forms of mail will no longer be delivered on Saturdays. Packages, however, will still be delivered on Saturdays.

    USPS said in a statement that once the plan is fully implemented, it will generate a cost savings of about $2 billion annually.

    Catalog mailers and others in direct-to-customer said they think the savings will be passed on to them in the form of fewer future rate increases.

    "If going to 5-day (non-package) delivery is essential to aligning USPS costs with its declining revenues, then it is essential for the sustainability of the mailing industry and our economy," said Terri Alpert, founder and CEO of Stony Creek Brands, which mails the Uno Alla Volta artisan gift catalog and The Artisan Table, formerly known as The Cooking Enthusiast and Professional Cutlery Direct.

    Lynn Gore, vice president of marketing at Plow & Hearth, added that its in-home dates are on Mondays, and even now when it gets some early deliveries, it only represents about 3% of the total mail stream.

    "We may see some demand shift, but I don’t think it will be a negative impact overall," Gore said.

    Lois Brayfield, president and chief creative officer at consultancy J. Schmid & Assoc., said that her catalog-mailing customers are not panicking about the USPS's decision to cut mail delivery to five days.

    But she added that it is something to keep an eye on because Monday tends to be the strongest delivery day for catalogs. So in theory, it could mean the catalog delivered on a Monday could become part of a cluttered mailbox.

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  • 02.07.2013

    ABM Postal Counsel: USPS has done all it can do without action from Congress

    The announcement that the United States Postal Service will eliminate Saturday mail delivery to street addresses (a move the USPS claims will save $2 billion per year), won’t affect b-to-b publishers as dramatically as consumer magazine publishers. However, the move will do little to improve the economic viability of the USPS.
     
    “ABM supports the efforts of the USPS to reduce costs, and as we have stated, we support the elimination of Saturday delivery along with other measures to reduce costs and put the Postal Service in a better financial position,” said Jack Widener, ABM's postal counsel. “But in this case that has not occurred and we are disappointed in that regard. Lack of action by Congress along with Postal labor union positions have forced the Postal service to make the decision to eliminate Saturday a first step. To put it simply, we believe cutting costs that reduce service to your customers should only be taken as part of the implementation of an overall plan for reducing costs. Congress must take action on the other needed changes.”
     
    The Coalition for a 21st Century Postal Service says Congress should focus on three core elements of stabilization including reamortization of payments for prefunding retiree health benefits; return to USPS of its overpayments to the federal Employees Retirement System; and assuring USPS the authority to streamline its service.
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  • 02.07.2013

    AF&PA Responds to U.S. Postal Service Eliminating Six-Day Mail Delivery

    The American Forest & Paper Association (AF&PA) has issued its response to the United States Postal Service (USPS) announcement to eliminate six-day mail delivery service.
     
    “The U.S. Postal Service’s decision to eliminate six-day mail delivery is a short-sighted solution with questionable financial savings and will only drive volume out of the system, stripping both the USPS and businesses that depend on the mailing industry of potential revenues,” said AF&PA President and CEO Donna Harman.  “The greatest contributor to the record $15.9 billion USPS losses in 2012 was not the cost of Saturday delivery but the $11.1 billion in unrealistic benefit obligations. Reduction of service puts mailing industry jobs at risk and eliminates the Postal Service’s opportunities to leverage its network to find new revenue growth.”
     
    The USPS is the essential component of a $1 trillion mailing industry that employs more than 8 million Americans in large and small businesses across the country such as advertising, printing, paper manufacturing, publishing, and financial services.  Approximately one-third, or $6 billion, of printing and writing paper produced in the U.S. is delivered through the Postal Service.
     
    “We urge Congress to take action to ensure the long-term stability of the Postal Service and to passing comprehensive postal reform that supports both long-term cost reductions and new revenue sources, not by cutting critical services needed for delivery of time sensitive information,” said Harman.

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  • 02.07.2013

    Urban Outfitters Reports a 17% Sales Jump

    Urban Outfitters, Inc., a leading lifestyle specialty retail company operating under the Anthropologie, BHLDN, Free People, Terrain and Urban Outfitters brands, today announced record net sales for the quarter and year ended January 31, 2013.
     
    Total Company net sales for the fourth quarter of fiscal 2013 increased to $857 million or 17% over the same quarter last year. Comparable retail segment net sales, which include our comparable direct-to-consumer channel, increased 11% while comparable store net sales were flat. Direct-to-consumer returns at stores are charged against store sales. Excluding these returns, comparable store net sales would have been low single-digit positive. Comparable retail segment net sales increased 37% at Free People, 11% at Urban Outfitters and 7% at Anthropologie. Direct-to-consumer net sales surged by 44% for the quarter and wholesale segment net sales rose 22%.
     
    For the year ended January 31, 2013, total Company net sales increased to $2.8 billion or 13% over the prior year. Comparable retail segment net sales increased 7%, while comparable store net sales decreased by 1%. Excluding the direct-to-consumer returns at stores, comparable store net sales would have been low single-digit positive. Direct-to-consumer net sales increased by 31% for the year and wholesale segment net sales increased 12%.
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  • 02.07.2013

    The Bon-Ton Stores, Inc. Announces January Sales

    The Bon-Ton Stores, Inc. today announced sales for the five, fourteen and fifty-three weeks ended February 2, 2013, in accordance with the National Retail Federation fiscal reporting calendar. The comparable percentage change information presented below is based upon comparison of the four, thirteen and fifty-two weeks ended January 26, 2013 with the prior year corresponding periods ended January 28, 2012.

    Comparable store sales in the four weeks ended January 26, 2013 decreased 0.4%, compared with the four-week period last year. Total sales for the five weeks ended February 2, 2013 increased 15.2% to $200.8 million, compared with $174.4 million in the four-week period last year.

    For the fourth quarter of fiscal 2012, comparable stores sales in the thirteen weeks ended January 26, 2013 increased 1.0%, compared with the thirteen-week period last year. Total sales in the fourteen weeks ended February 2, 2013 increased 3.2% to $1,015.1 million, compared with $983.2 million in the thirteen-week period last year.

    Fiscal 2012 comparable store sales in the fifty-two weeks ended January 26, 2013 increased 0.5%, compared with the fifty-two week period last year. Fiscal 2012 total sales for the fifty-three weeks ended February 2, 2013 increased 1.2% to $2,919.4 million, compared with $2,884.7 million in the fifty-two week period last year.

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  • 02.07.2013

    Macy's, Inc. Same-Store Sales Up 11.7% in January

    Macy's, Inc. today reported total sales of $1.799 billion for the five weeks ended Feb. 2, 2013, an increase of 34.6 percent compared with total sales of $1.337 billion in the four weeks ended Jan. 28, 2012. The January period reflects an extra week in fiscal 2012, creating a 53-week fiscal year that occurs approximately every six years in the accounting cycle for most retailing companies.

    On a same-store basis - which includes comparable four-week periods this year and last year - Macy's, Inc. sales were up 11.7 percent in January as compared to January 2012.

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  • 02.07.2013

    Graphic Packaging Holding Company Reports Fourth Quarter and Full Year 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 fourth quarter 2012 of $22.9 million, or $0.06 per share, based upon 392.2 million weighted average diluted shares.  This compares to fourth quarter 2011 Net Income of $265.6 million, or $0.67 per share, based on 396.3 million weighted average diluted shares.  The fourth quarter of 2011 was positively impacted by the release of a $265.2 million tax valuation allowance. 

    Adjusted Net Income for the fourth quarter of 2012 was $33.2 million, or $0.08 per diluted share, when adjusted for $10.3 million in charges (net of tax) related to business combinations and other special charges (which are detailed in the financial attachments hereto).  This compares to fourth quarter 2011 Adjusted Net Income of $7.0 million or $0.02 per diluted share.   

    For the full year 2012, Net Income was $122.6 million, or $0.31 per diluted share, based on 396.2 million weighted average diluted shares.  This compares to 2011 Net Income of $276.9 million or $0.73 per diluted share, based on 381.7 million weighted average diluted shares.  Full year 2012 Adjusted Net Income was $146.3 million or $0.37 per diluted share, compared to full year 2011 Adjusted Net Income of $100.7 million, or $0.26 per diluted share.

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  • 02.07.2013

    Norske Skog: Challenging market and lower debt

    Norske Skog continues to reduce debt and fixed costs despite challenging markets. Net loss was significantly influenced by non-cash items such as impairments and change in value of energy contracts.
     
    Norske Skog had gross operating earnings (EBITDA) in the fourth quarter of 2012 of NOK 327 million, down from NOK 365 million in the third quarter. This decline was due to weak seasonal effects and NOK appreciation. Gross operating earnings for the full year 2012 were NOK 1 464 million, a reduction of NOK 51 million from 2011, mainly due to lower production capacity after the closure of Norske Skog Follum, sale of Norske Skog Bio Bio and Norske Skog Parenco.

    Net profit before special items were NOK 432 million in 2012 compared to NOK 12 million in 2011. The net loss of NOK 2.8 billion for 2012 was heavily influenced by NOK 3.2 billion in impairments, change in value of energy contracts and restructuring expenses. Impairments reflect increased uncertainty about sales price expectations. In addition, reassessment of Norske Skog's business in Australasia and reduction in the expected useful life of Norske Skog Walsum influenced impairments.
     
    Cash flow from operating activities was NOK 382 million before net financial payments in the quarter. Underlying interest expenses in 2012 fell from 2011 in line with the reduction of net debt.

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  • 02.07.2013

    Orchids Paper Products Company Sets New Twelve-Month Net Sales Record

    Orchids Paper Products Company today reported year-end 2012 financial results.

    Summary:
    •Full year net sales increased $3.0 million, or 3%, to $100.8 million, marking the first time the Company has achieved more than $100 million in net sales.  Total net sales in the fourth quarter of 2012 decreased 6% to $24.0 million, compared with $25.7 million in the same period in 2011. 
    •Full year net sales of converted product were $90.5 million, a new twelve-month record, which represented an increase of $8.6 million, or 10%, over 2011.  Net sales of converted product in the fourth quarter of 2012 were $21.8 million, a decrease of $2.0 million, or 8%, over the prior year quarter.
    •Full year net income for 2012 was $9.3 million, an increase of $3.1 million, or 49%, compared to the $6.2 million in 2011.  Fourth quarter 2012 net income was $2.2 million, a decrease of $561,000, or 21%, compared with $2.7 million of net income in the same period of 2011.

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  • 02.07.2013

    News Corporation Reports Second Quarter Earnings

    News Corporation today reported $9.43 billion of total revenue for the three months ending December 31, 2012, a $450 million or 5% increase over the $8.98 billion of revenue reported in the prior year quarter. The revenue increase was led by $398 million or 18% growth at the Company’s Cable Network Programming segment.

    The Company reported second quarter total segment operating income(1) of $1.58 billion compared to $1.50 billion reported a year ago. The improvement was led by operating income improvements at the Company’s Cable Network Programming and Television segments. The second quarter results included $56 million of costs related to the ongoing investigations initiated upon the closure of The News of the World as compared to $87 million in the corresponding period of the prior year. This year’s second quarter results also included $23 million of costs related to the proposed separation of the Company’s entertainment and publishing businesses. Excluding these costs from both years, second quarter adjusted total segment operating income of $1.66 billion increased $75 million or 5% from $1.58 billion reported in the second quarter of the prior year.

    The Company reported quarterly net income attributable to stockholders of $2.38 billion ($1.01 per share), compared to $1.06 billion ($0.42 per share) reported in the corresponding period of the prior year. This quarter’s pre-tax results included $1.40 billion of income in Other, net, principally related to gains on the acquisitions of additional ownership stakes in FOX SPORTS Australia and Fox Star Sports Asia (formerly ESPN Star Sports), as well as a $131 million gain from the Company’s participation in British Sky Broadcasting’s (“BSkyB”) share repurchase program, which is reflected in Equity earnings of affiliates. These gains were partially offset by $65 million of restructuring and impairment charges, primarily related to the Company’s international newspaper businesses. Excluding the net income effects of these items, the costs related to the investigations in the U.K. and the proposed separation of the Company’s entertainment and publishing businesses, along with comparable items in both years, second quarter adjusted earnings per share(2) was $0.44 compared with the adjusted prior year quarter result of $0.39.

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  • 02.07.2013

    Holmen invests in Hallsta Paper Mill

    Holmen Paper is investing SEK 200 million in restructuring the energy supply at Hallsta Paper Mill. This is the single largest investment in the mill since the PM 11 paper machine was built in 2002.
     
    The planned measures strengthen the mill’s competitiveness and form part of the transition to a two-machine mill.
     
    “We’re providing Hallsta Paper Mill with completely new opportunities for the future,” says Henrik Sjölund, head of Holmen Paper. “By improving heat recovery from paper machines and pulp manufacture, we’ll be able to run the mill in a more energy-efficient manner.”
     
    The restructuring also involves closing the two old solid fuel boilers, which will be possible when, as previously announced, the PM 3 paper machine is closed during the second half of 2013. The investment package also includes more modern and efficient monitoring of the process.
     
    “These investments will make Hallsta Paper Mill a modern mill with two paper machines that occupy leading positions in their niches: magazine and book paper. The mill will also be a significant supplier of biofuel as we will have a surplus of bark that was previously burned in the solid fuel boilers,” says Henrik Sjölund.
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  • 02.07.2013

    Heidelberg on track after nine months of financial year 2012/2013

    After nine months of financial year 2012/2013 (April 1 to December 31, 2012), Heidelberger Druckmaschinen AG (Heidelberg) is on track to achieve its operating targets for the current financial year.

    In the quarter under review (October 1 to December 31, 2012), higher sales and savings from the Focus 2012 efficiency program resulted in a much improved operating result as planned. Quarterly sales were 9 percent up on the same period of the previous year, increasing from EUR 631 million to EUR 688 million. The operating result (EBIT) excluding special items increased by EUR 23 million to EUR 25 million (previous year: EUR 2 million).

    Improvements in EBIT and the financial result led to a positive income before taxes of EUR 5 million after a negative result of EUR -25 million in the same quarter of the previous year. Thanks to positive tax effects in the reporting period, the net result rose to EUR 16 million (previous year: EUR -14 million).

    "The financial year is going according to plan. The third quarter reflects the progress we had expected in terms of earnings. We are systematically moving toward our target of returning to profitability by the end of financial year 2013/2014. We are on the right track," said Heidelberg CEO Gerold Linzbach.

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  • 02.07.2013

    Costco Wholesale Corporation Reports January Sales Results

    Costco Wholesale Corporation today reported net sales of $9.35 billion for the month of January, the five weeks ended February 3, 2013, an increase of seven percent from $8.74 billion during the similar period last year. This year's period contained one less day compared to last year, due to the timing of the New Year's holiday, which negatively impacted total and comparable sales by approximately 2%.

    For the first twenty-two weeks of its fiscal year ended February 3, 2013, the Company reported net sales of $43.77 billion, an increase of nine percent from $40.18 billion during the similar period last year.

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  • 02.07.2013

    Consolidated Graphics Reports Financial Results For The Quarter Ended December 31, 2012

    Consolidated Graphics, Inc. today announced financial results for its third quarter ended December 31, 2012.
     
    Revenue for the December 2012 quarter increased 4.0% to $295.3 million, compared to the prior year. Adjusted Operating Income increased 17.3% for the quarter to $24.3 million or 8.2% of revenue, compared to $20.7 million or 7.3% of revenue last year. Adjusted Net Income increased 32.4% to $16.9 million for the quarter, compared to $12.7 million for the prior year. Adjusted Diluted Earnings per share increased 43.4% to $1.75, compared to $1.22 last year. Adjusted EBITDA increased 9.2% to $42.7 million for the quarter and Free Cash Flow was $16.8 million for the quarter.
     
    Operating income during the December 2012 quarter was $23.3 million, compared to $17.6 million for the prior year. Net income for the quarter was $16.3 million or $1.68 diluted earnings per share, compared to $10.8 million or $1.04 diluted earnings per share last year.
     
    Joe R. Davis, Chairman and Chief Executive Officer of Consolidated Graphics, commented, "Revenue growth this quarter was driven by growth in digital print revenue, which increased 3.6%, as well as strong election-related revenue. The sales growth we experienced was made possible by investment in our best of class digital print platform, along with our technology infrastructure and solutions.  Looking forward, we are optimistic that with an improving U.S. economy in 2013, we will experience greater demand for our products and services."
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  • 02.07.2013

    Oil Steady After Cushing Supplies Drop to One-Month Low

    West Texas Intermediate oil was little changed as an Energy Information Administration report showed supplies dropped at Cushing, Oklahoma, the biggest U.S. storage hub and delivery point for the New York-traded crude.

    Futures slipped 2 cents after stockpiles declined 315,000 barrels last week at Cushing to 51.4 million, a one-month low. Nationwide inventories gained 2.62 million barrels to 371.7 million. WTI’s discount to Brent oil widened to the most this year on concern that flow limits on the Seaway pipeline would bolster a glut at Cushing.

    “It looks like a lot of buyers are using railcars to avoid the bottleneck at Cushing,” said Richard Soultanian, co- president of NUS Consulting Group, a Park Ridge, New Jersey- based energy procurement adviser. “Anyone that can avoid Cushing is going to.”

    Crude oil for March delivery settled at $96.62 a barrel on the New York Mercantile Exchange. It touched a two-week low of $95.04 in intraday trading.

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  • 02.07.2013

    Limited Brands Reports January 2013, Fourth Quarter 2012 And Fiscal Year 2012 Sales

    Limited Brands, Inc. reported comparable store sales for the five weeks ended Feb. 2, 2013 increased 9% compared to the five weeks ended Feb. 4, 2012.  The Company reported net sales of $986.4 million for the five-week period ended Feb. 2, 2013 compared to sales of $774.5 million for the four-week period ended Jan. 28, 2012.  The fifth week in January 2013 represented approximately $125 million in sales.

    Comparable store sales for the 14 week fourth quarter ended Feb. 2, 2013 increased 5% compared to the 14 weeks ended Feb. 4, 2012.  Net sales were $3.856 billion for the 14 week fourth quarter ended Feb. 2, 2013 compared to $3.515 billion for the 13 weeks ended Jan. 28, 2012. 

    The Company reported a comparable stores sales increase of 6% for the 53 week year ended Feb. 2, 2013, compared to the 53 weeks ended Feb. 4, 2012. Net sales were $10.459 billion for the 53 week year ended Feb. 2, 2013 compared to $10.364 billion for the 52 weeks ended Jan. 28, 2012.

    Fourth quarter 2011 and 2011 full year sales included $13.1 million and $702.4 million attributable to the third party apparel sourcing business, which was sold in November 2011.

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  • 02.07.2013

    Metsä Group’s operating result excluding non-recurring items was EUR 252 million in 2012

    Metsä Group Financial Statements Bulletin 2012, Stock Exchange Release 7 February 2013 at noon

    Full year result for 2012
    – Sales amounted to EUR 5,001 million (1–12/2011: EUR 5,346 million).
    – Operating result excluding non-recurring items was EUR 252 million (314). Operating result including non-recurring items was EUR 237 million (29).
    – Result before taxes excluding non-recurring items was EUR 149 million (195). Including non-recurring items, the result before taxes was EUR 134 million (-98).
    – Cash flow from operations amounted to EUR 440 million (552)

    Result for October–December 2012
    – Sales amounted to EUR 1,228 million (10–12/2011: 1,223).
    – Operating result excluding non-recurring items was EUR 71 million (3). Operating result including non-recurring items was EUR 77 million (-200).
    – Result before taxes and excluding non-recurring items was EUR 43 million (-21). Result before taxes including non-recurring items was EUR 49 million (-228).

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  • 02.07.2013

    REI chief nominated as secretary of interior

    President Obama today nominated REI President and CEO Sally Jewell of Seattle as his next secretary of the interior.

    In making the announcement in an afternoon event at the White House, Obama noted her previous experience as an engineer in oil fields and her life as an active outdoorswoman who once spent a month climbing mountains in Antarctica.
     
    He praised her record of achievement and environmental stewardship at REI, saying, “She knows the link between conservation and good jobs.”
     
    In her remarks, Jewell said, “I have a great job at REI today, but there’s no role that compares to the call to serve my country as the secretary of the interior.”

    The president pointed out that the secretary oversees 500 million acres of public land, including places such as Yellowstone National Park, and balances stewardship of those lands with future considerations such as energy policy.

    If confirmed, Jewell will replace Interior Secretary Ken Salazar, who held the post throughout Obama’s first term. Salazar announced last month that he would step down in March.

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  • 02.06.2013

    Postal Service to end Saturday mail delivery in bid to cut costs

    The U.S. Postal Service plans to announce Wednesday that it will end Saturday mail delivery, in one of the most significant steps taken to date to cut costs at the struggling agency.
     
    A source familiar with the decision confirmed the plan to Fox News.
     
    Under the proposal, the Postal Service will continue to deliver packages six days a week. The plan, which is aimed at saving about $2 billion, would start to take effect in August.
     
    The move accentuates one of the agency's strong points -- package delivery has increased by 14 percent since 2010, officials say, while the delivery of letters and other mail has declined with the increasing use of email and other Internet use.
     
    Under the new plan, mail would still be delivered to post office boxes on Saturdays. Post offices now open on Saturdays would remain open on Saturdays.
     
    Over the past several years, the Postal Service has advocated shifting to a five-day delivery schedule for mail and packages -- and it repeatedly but unsuccessfully appealed to Congress to approve the move. Though an independent agency, the service gets no tax dollars for its day-to-day operations but is subject to congressional control.
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  • 02.06.2013

    Walgreens January Sales Increase 6.3 Percent

    Walgreens had January sales of $6.15 billion, an increase of 6.3 percent from $5.78 billion for the same month in fiscal 2012.

    Total front-end sales increased 1.3 percent compared with the same month in fiscal 2012, while comparable store front-end sales decreased 0.4 percent. Customer traffic in comparable stores decreased 2.8 percent while basket size increased 2.4 percent.

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  • 02.06.2013

    CVS Caremark Reports Record Fourth Quarter And Full Year 2012 Results

    CVS Caremark Corporation today announced operating results for the three months and year ended December 31, 2012.

    Fourth Quarter Year-over-year Highlights: •Net revenues increased 10.9% to a record $31.4 billion, with Pharmacy Services up 17.4% and Retail Pharmacy up 5.1% •Retail Pharmacy segment same store sales increased 4.0% •Operating profit increased 17.7% to a record $2.3 billion

    Full Year Highlights:  •Net revenues increased 15.0% to a record $123.1 billion, with Pharmacy Services up 24.7% and Retail Pharmacy up 6.8% •Retail Pharmacy segment same store sales increased 5.5% •Operating profit increased 14.2% to a record $7.2 billion

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  • 02.06.2013

    Time Warner Inc. Reports Fourth-Quarter and Full-Year 2012 Results

    Time Warner Inc. today reported financial results for the three months and full year ended December 31, 2012.

    Full-year Revenues decreased 1% from 2011 to $28.7 billion, as growth at the Networks segment was more than offset by declines at the Film and TV Entertainment and Publishing segments. Adjusted Operating Income rose 4% from 2011, to $6.1 billion, due to growth at the Networks segment, partially offset by declines at the Publishing and Film and TV Entertainment segments. Operating Income increased 2% from 2011 to $5.9 billion. Adjusted Operating Income and Operating Income margins were 21% in 2012, up from 20% in 2011.

    The Company posted 2012 Adjusted Diluted Net Income per Common Share (“Adjusted EPS”) of $3.28, up 13% from $2.89 in the prior year. Diluted Income per Common Share was $3.09 compared to $2.71 in 2011.

    In the fourth quarter of 2012, Revenues were essentially flat at $8.2 billion, as growth at the Networks segment was offset by declines at the Film and TV Entertainment and Publishing segments. Adjusted Operating Income increased 16%, to $2.0 billion, in the quarter due to growth at the Networks and Film and TV Entertainment segments, partially offset by a decline at the Publishing segment. Operating Income increased 21% to $2.0 billion. Adjusted Operating Income and Operating Income margins were 24% and 25% for the fourth quarter of 2012, respectively, compared to 21% and 20%, respectively, in the prior year period.

    The Company posted Adjusted EPS of $1.17, up 24% from $0.94 for the year-ago quarter. Diluted Income per Common Share was $1.21 compared to $0.76 in the prior year quarter.

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  • 02.06.2013

    SKG Fourth Quarter and Full Year Results 2012

    Smurfit Kappa Group today announced results for the 3 months and 12 months ending 31 December 2012.

    Full Year 2012 Highlights: Pre-exceptional EPS growth of 8% to 108.3 cent per share; Strong EBITDA of €1,020 million and EBITDA margin of 13.9%; Final dividend per share increased by 37% from 15 cent to 20.5 cent; Two bond transactions completed in 2012 with a combined value of €690 million. A further €400 million bond issued in January 2013 at a rate of 4.125% maturing 2020; Orange County Container Group (‘OCCG’) acquisition finalised on 30 November 2012 and immediately earnings accretive on acquisition; Strong growth in sales to our Pan European customers in 2012

    Gary McGann, Smurfit Kappa Group CEO commented: “Continuing our drive for earnings growth, we are pleased to report EBITDA of €1,020 million with strong pre-exceptional EPS growth of 8% to 108.3 cent for the full year 2012. Notwithstanding the challenging macro environment, a robust operational performance has allowed SKG to undertake a number of financial and strategic initiatives, which have left the Group in a very good position to drive future growth and deliver increased value to shareholders.

    SKG continues to be the best positioned supplier of innovative, market leading paper-based packaging in its chosen markets of Europe and the Americas. The high quality of its earnings is supported by the Group’s market oriented integrated model, the substantial geographic footprint of its operations and its clear focus on customer service which allows SKG to at least meet, and in many cases define, customer needs.

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  • 02.06.2013

    Sappi Fine Paper North America Publishes 2012 Sustainability Report

    Sappi Fine Paper North America announced today the release of its 2012 Sustainability Report, the company's second annual regional report focusing on the company's strong sustainability performance in North America over the past few years.

    Demonstrating how sustainable development is fundamental to Sappi's business strategy, the publication reports on our continued commitments to achieving strategic goals in sustainability, which extend beyond our mill gates to local communities, customers and industry partners.

    "Sustainability is a catalyst for growth and over the past five years, we have achieved considerable progress towards our long-term goals," said Jennifer Miller , executive vice president of coated business and chief sustainability officer. "It is this vision that drives our core business strategy, one that recognizes that financial success can only be achieved when operations and sustainability work hand-in-hand to ensure a more profitable future."

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  • 02.06.2013

    Sappi results for 1st quarter in line with expectations

    Financial summary for the quarter:   •Profit for the period US$17 million (Q1 2012 US$45 million) •EPS 3 US cents (Q1 2012 9 US cents) •Operating profit excluding special items US$73 million (Q1 2012 US$100 million) •Net finance costs of US$42 million (Q1 2012 US$54 million) •Net debt US$2,095 million (Q1 2012 US$2,175 million)

    Operating profit excluding special items of US$73 million was in line with our expectations given generally lower selling prices for pulp and paper. This compares to an operating profit excluding special items of US$100 million in the equivalent quarter last year and US$118 million in the quarter ended September 2012.

    Our North American coated paper business performed well, with increased coated paper sales volumes partially offset by lower average sales prices which were 3% when compared to the equivalent quarter last year. Release paper sales volumes were markedly higher than in both the equivalent quarter last year, and the prior quarter.  Average sales prices, whilst stable compared to the prior quarter were below those of the equivalent quarter last year. The North American business was however negatively impacted by lower pulp prices, which were 5% lower than the equivalent quarter last year, and 3% lower than the prior quarter. Sales volumes were also lower in both comparative periods, partly due to a planned increase in pulp inventories at the Cloquet mill ahead of the conversion to dissolving wood pulp. 

    Despite tough market conditions in Europe during the quarter and depressed industry volumes year-on-year, in the case of mechanical coated paper by as much as 7%, the European paper business achieved sales volumes for the quarter equal to the equivalent quarter in the prior year.  During the quarter we experienced strong downward pressure on pricing for all graphic paper grades, and average graphic paper sales prices were 2% lower than in the equivalent quarter last year. The coated specialities business continues to perform well, with increased sales volumes and stable to increasing price movements compared with the equivalent quarter last year.

    The Southern African business posted similar results to the prior quarter despite the impact of the three-week road transport strike which spilled over into the first quarter. However, compared with the equivalent quarter last year, it was a weaker quarter due to lower sales volumes, lower average prices in the Specialised Cellulose business and higher variable costs. The Specialised Cellulose business generated an EBITDA excluding special items of ZAR351 million, representing an EBITDA excluding special items margin of 28%. The Southern African paper business further improved their performance, compared both to the equivalent quarter last year and the prior quarter.  While sales volumes were lower predominantly due to the restructuring of the business and resultant machine closures, sales prices were higher for both local and export sales.

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  • 02.06.2013

    Multi-Color Corporation Announces Results for Third Quarter of Fiscal Year 2013

    Multi-Color Corporation today announced a 35% increase in third quarter adjusted EPS compared to the prior year quarter after the first anniversary of the York acquisition.
     
    "The December quarter saw adjusted gross margin, as a percent of revenues, rebound with a 2% increase over the prior year quarter to 19%.  The return to higher gross margin is now across a much larger revenue base and primarily reflects benefits of York acquisition synergies," said Nigel Vinecombe, President and CEO of Multi-Color Corporation.
     
    Third quarter highlights:
    Net revenues increased 7% to $157 million from $146.4 million compared to the three months ended December 31, 2011.  Net revenues increased 4% or $5.8 million due to acquisitions occurring after December 31, 2011 and 3% due to higher sales volumes. 

    Gross profit increased $6.9 million or 29% compared to the three months ended December 31, 2011.  Adjusted for special items, gross profit increased $5.4 million or 21% compared to the prior year quarter.  The increase is primarily due to higher sales volumes in the current quarter and acquisitions occurring after December 31, 2011.  Gross margins, adjusted for special items, increased to 19% of net revenues compared to 17% of net revenues in the three months ended December 31, 2011.  This increase in adjusted gross margins is due primarily to improvements in operations in North and Latin America related to the completion of most of the integration of the York Label Group acquisition.

    Operating income increased $8.1 million compared to the prior year quarter.  Adjusted for special items, operating income increased 30% to $16.3 million from $12.5 million.  The increase was due primarily to acquisitions occurring after December 31, 2011, higher North American sales volumes and improvements in the operations in North and Latin America related to the completion of most of the integration of the York Label Group acquisition.

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  • 02.06.2013

    Digital Ad Spend May Surpass Trad Media In Near Future

    A new survey of ad agencies indicates that digital media may eclipse traditional advertising in the near future, with nearly one-third of respondents expecting to spend more on digital than on traditional media within the next three years.

    That’s according to a survey conducted by ad transaction processor Strata, which polled nearly 100 ad shops in the fourth quarter.

    The survey found that enthusiasm for spot TV and spot radio continues to decline. On a year-to-year basis, the survey found that 40% fewer respondents indicated their clients were interested in spot TV advertising, while 32% were less interested in spot radio. 

    According to the survey, print continues its free fall, with agencies indicating that 60% percent of advertisers are less interested in print than they were a year ago.

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  • 02.06.2013

    UBM Sells Data Services Businesses

    B-to-b media company UBM has agreed to sell “the bulk” of its data services business for $252 million to Electra Partners, a private-equity firm. A deal was expected after UBM announced a “strategic review” of its data services segment in July.
     
    The combined business units, known as “Delta,” include Health, Technology and IP, Trade and Transport, and Paper. The businesses in the portfolio being sold off generated $300 million in revenues in 2011, but shed about $20 million last year. Operating profits declined slightly over the period, settling at about $43.2 million in 2012. Gross assets were listed at $466 million at the halfway point last year.
     
    “Most analysts were hoping for more like [$315] million—closer to a 7.3X multiple based on last year’s operating profit,” says Jeffrey Dearth, a partner at private-equity firm DeSilva + Phillips, noting that the selling price was closer to 6X. “This may reflect some on-going softness in the core asset, but 6X is not a terrible outcome for an underperforming division.”
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  • 02.06.2013

    WTI Crude Slips, Discount to Brent Widens

    Oil fell in New York after the biggest gain in a week, widening its discount to Brent crude to the most this year. U.S. crude and gasoline stockpiles rose last week, an industry report showed.

    West Texas Intermediate futures declined as much as 0.7 percent. WTI’s discount to London-traded Brent widened for a sixth day as limits on the Seaway pipeline cut flows to Gulf Coast refineries. U.S. crude supplies rose by 3.63 million barrels, the American Petroleum Institute said. Energy Department data due today will probably show oil inventories rose to a seven-week high.

    “We’re moving into the refinery maintenance season so that could affect crude stock builds, at the end of this quarter demand should go lower,” said Thina Saltvedt, an analyst at Nordea Bank AG, who predicts that prices will remain supported at current levels by geopolitical concern and improved demand for riskier assets.

    Crude for March delivery was 62 cents lower at $96.02 a barrel in electronic trading on the New York Mercantile Exchange at 11:12 a.m. London time.

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  • 02.06.2013

    Asia Pulp and Paper Halts Clearing in Indonesian Natural Forests

    Asia Pulp & Paper Group said it halted all its suppliers from clearing natural forests as of February, accelerating its pledge to use only farmed trees by two years.

    The Sinar Mas Group unit has suspended all forest clearing as of Feb. 1, while non-profit organizations including the Forest Trust identify areas that will no longer be harvested and others that can be developed into plantations, it said in a statement in Jakarta today.

    The company said in June 2012 it planned to be entirely reliant on raw materials from plantations by 2015, after Greenpeace International accused it in May of clearing natural rain forests to supply its mills and logging in areas considered to be among the last habitat of the Sumatran tiger, which is protected under international conservation programs.

    Asia Pulp produces more than 18 million tons of paper and pulp products each year, the company said in today’s statement. That compares with the 2 million tons produced every year by Asia Pacific Resources International Holdings Ltd., which also operates plantations in Indonesia and China, according to the company’s website.

    The paper producer will halt purchases and other contracts with any supplier that isn’t complying with the commitments, it said, adding that it has enough plantations to meet its long- term production goals.

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