Paperclips Blog | RR Donnelley Results

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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02.06.2013
MOD-PAC CORP. Reports Record Quarterly and Annual Product Sales in 2012

MOD-PAC CORP., a high value-added, on-demand print services firm that designs and manufactures custom and stock folding cartons, today announced financial results for its fourth quarter and year ended December 31, 2012.

Revenue increased $2.1 million, or 14.1%, to $16.6 million in the fourth quarter from $14.6 million in the prior-year period on strong custom folding carton sales. Net income increased 152.9% to $1.0 million, or $0.31 per diluted share, compared with $0.4 million, or $0.12 per diluted share, in the fourth quarter of 2011. The substantial increase in net income reflects positive leverage on higher sales and continued cost control.

Sales of custom folding cartons increased 18.5% to $12.2 million compared with $10.3 million in the fourth quarter of 2011. The increase was primarily due to the addition of new product lines from several existing customers, the ramp-up of sales from some large customers whose business was earned last year and higher graphics charges, partially offset by lower waste paperboard sales.

Stock packaging sales were $3.7 million and $3.5 million in the fourth quarters of 2012 and 2011, respectively, reflecting increased holiday sales as a result of Easter being early this year.

Personalized print sales were $0.7 million in the fourth quarter of 2012 consistent with the prior-year period.

Gross profit for the 2012 fourth quarter was $3.9 million, an increase of 54.3% when compared with gross profit of $2.5 million in the prior-year period. Fourth quarter gross margin expanded to 23.3% from 17.2% in the fourth quarter of 2011, reflecting improved leverage on higher sales combined with continued cost control.

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02.05.2013
Ilim Group Mills in the North-West of Russia Continued Their Growth in 2012

In 2012 Koryazhma Mill (Arkhangelsk Oblast) manufactured 1,101,000 tons of pulp and paper products. This is 4% above the 2011 output.

The figures include 381,000 tons of market pulp, with a 7% increase as compared to the previous year.

Market containerboard production has gained 1% to reach 486,000 tons.

Paper output increase amounted to 5%, reaching 235,000 tons. This includes 87,000 tons of sack paper, 111,000 tons of offset paper, and 36,000 tons of wallpaper.

Own logging of OJSC Ilim Group in the Arkhangelsk Oblast reached 2.3 million m3 at the year-end 2012.

OAO Ilim Gofra, corrugated box business of Ilim Group in the Leningrad oblast, manufactured 129,526 m2 of products, which is 6% more than in 2011.

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02.05.2013
j2’s Ziff Davis Buys News Corp’s IGN

j2 Global continues to build out its digital media portfolio with the acquisition of popular gamer lifestyle brand IGN Entertainment, a News Corp property.

Terms of the deal were not disclosed.

Reports indicate the amount will be "considerably" lower than the $650 million News Corp paid for the network in 2005 however. Multiple outlets put the figure at less than $100 million--a "rock bottom" price in a "soft [and] limited prospective buyer universe," a source with direct knowledge of the market tells Folio:.

NewsCorp had reportedly been seeking $100 million for the property as of October.

IGN--publisher of digital properties IGN.com, UGO.com, 1UP.com and AskMen.com--will officially fall under the purview of Ziff Davis, Inc.

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02.05.2013
Oil Rises From One-Week Low on Economic Recovery Signs

Oil rose from its lowest closing level in a week in New York as signs of economic recovery in Europe countered estimates that U.S. crude inventories rose.

West Texas Intermediate advanced as much as 0.5 percent after their biggest loss in two months yesterday. A survey by Markit Economics today showed European services output shrank less than initially estimated in January, prompting the bloc’s single currency to strengthen against the dollar. U.S. crude stockpiles probably increased for a third week, according to a Bloomberg News survey before Energy Information Administration data tomorrow.

“Upbeat macro sentiment” is driving oil’s gains, said Andrey Kryuchenkov, an analyst at VTB Capital in London, who predicts that WTI will struggle to reach $100 a barrel this month.

Crude for March delivery gained as much as 52 cents to $96.69 a barrel in electronic trading on the New York Mercantile Exchange and was at $96.66 at 10:51 a.m. London time. The volume of all futures traded was 11.7 percent above the 100-day average.

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02.05.2013
Price Increase Bindakote C2S & C1S Label

As a result of increased manufacturing costs, there will be a price increase effective with shipments February 18, 2013 for the following Bindakote products.

C2S Folio, Cut Sizes & HP Indigo items – 10%
C1S Label – 10%

This increase impacts these two products only.

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02.05.2013
Stora Enso plans restructuring and profitability improvement actions

Stora Enso plans to restructure its operations through the permanent shutdown of two newspaper machines in Sweden. Stora Enso also plans efficiency improvements in the Printing and Reading customer service and the Building and Living Business Area. The profitability improvement actions are planned to reduce annual costs by EUR 54 million and reduce the number of employees by approximately 600 altogether.

Printing and Reading plans the permanent shutdown of paper machine (PM) 2 at Hylte Mill in Sweden with annual capacity 205 000 tonnes of newsprint and PM 11 at Kvarnsveden Mill in Sweden with annual capacity 270 000 tonnes of newsprint in the second quarter of 2013. This represents 3.4% of European newsprint capacity. The plans to shut down capacity are due to continuing structural weakening of newsprint demand in Europe.

In addition, Stora Enso plans to create a common platform for all its Printing and Reading sales desk, order handling and logistic services in Europe to improve customer service. These processes currently handled at seven customer service centres, mills and logistic service centres will be centralised into five customer service centres located in Finland, Sweden, Germany, Belgium and the UK. It is planned to establish a separate Logistics Service Centre for overseas business in Gothenburg, Sweden to serve all Stora Enso’s Business Areas.

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02.05.2013
Stora Enso Fourth Quarter and Full Year Results 2012

Q4 2012 (compared with Q4 2011)
• Operational EBIT EUR 10 million higher than in Q4 2011 at EUR 155 (EUR 145) million mainly due to lower costs, EUR 20 million lower than in Q3 2012 (EUR 175) million driven by seasonally higher fixed costs.
• Strong cash flow from operations at EUR 471(EUR 302) million and strong liquidity at EUR 1 845 (EUR 1 134) million.
• Operational ROCE 7.1% (6.7%).

Full Year 2012 (compared with 2011)
• Operational EBIT EUR 248 million lower than in 2011 at EUR 618 (EUR 867) million mainly due to lower sales prices.
• Improved cash flow from operations at EUR 1 253 (EUR 1 034) million.
• Ratio of net debt to the last twelve months’ operational EBITDA 2.5 (2.1).
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02.05.2013
Gannett Co., Inc. Reports Strong Fourth Quarter Results

Gannett Co., Inc., a leading international media and marketing solutions company, today reported strong fourth quarter financial results. Earnings per diluted share, on a GAAP (generally accepted accounting principles) basis were $0.44 for the fourth quarter of 2012 compared to $0.49 for the same quarter last year. Excluding special items in both years, fourth quarter earnings per diluted share were $0.89 in 2012 compared to $0.72 in the fourth quarter of 2011, a 23.6 percent increase.

Net income attributable to Gannett was $103.1 million in the fourth quarter of 2012. Net income attributable to Gannett on a non-GAAP basis increased 20.2 percent to $207.3 million from $172.4 million in 2011. Operating income totaled $220.4 million in the quarter. Non-GAAP operating income including strategic initiative investments of $14.1 million but excluding special items and the extra week totaled $320.3 million, up 10.2 percent compared to the fourth quarter last year. Operating cash flow in the quarter (a non-GAAP term defined as operating income plus special items, depreciation and amortization) was $384.7 million compared to $339.2 million in the fourth quarter a year ago. Excluding the extra week operating cash flow was up 9.1 percent.

Total operating revenues for the company were $1.52 billion in the fourth quarter, a 9.4 percent increase compared to the fourth quarter last year. A substantial increase in Broadcasting segment revenues, higher Publishing segment revenues as well as the extra week in the quarter drove the increase. The increase in Broadcasting segment revenues reflects a record level of political spending in the quarter. Significantly higher circulation revenue in the Publishing segment resulting from the positive impact of the all access content subscription model more than offset a decline in advertising revenues. Digital segment revenues were up due primarily to revenue growth at CareerBuilder. Excluding the extra week in the quarter, total operating revenues were 4.8 percent higher than the year ago quarter.

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02.05.2013
Flambeau River Papers implements innovative heat recovery technology

With the help of Focus on Energy, Wisconsin utilities’ statewide program for energy efficiency and renewable energy, and in partnership with Xcel Energy, Flambeau River Papers has implemented an energy efficient Sulfur Burner and Heat Recovery Steam Generator that will save over 600,000 therms of natural gas annually.

Sulfur burners are used to create sulfur dioxide (SO2) that is mixed with water and is used to remove lignin from the pulp fibers used to make paper. Prior to mixing with water for use in the lignin process, the SO2 must be cooled down from it combustion temperature.

Focus on Energy introduced this new technology to Flambeau River Papers in 2010, provided technical assistance, including energy savings calculations to help justify the project and offered a grant of $250,000 and a $467,837 loan through its Emerging Technology Program. “We wouldn’t have implemented this technology without the technical and financial support of the Focus on Energy Program, ”said Randy Stoeckel, President of Flambeau River Papers.

Since it’s reopening in 2006, Flambeau River Papers has saved nearly $11 million in natural gas and electricity costs by implementing both best practices and emerging technologies.

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02.04.2013
Xerox’s Newest Color Presses Help Printers Stay Competitive

With the growth of color pages still a sweet spot for printers, Xerox’s two new digital presses make it easier to capture more lucrative jobs, ranging from photo books and brochures to direct-mail pieces and catalogs.

The Xerox Color J75 and C75 Presses are geared for various production settings, including in-plant operations, quick printers, commercial printers, creative agencies, photo specialty retailers and departmental environments. The press’ productivity features and media handling will appeal to both seasoned digital professionals and those entering the market.

Impressed with the Xerox Color J75 at first sight, Demark-based Jyske Bank purchased two presses. “Print is one of the ways we build and maintain our customer relationships. The J75 offers many high-end press features in a smaller footprint with very impressive print quality,” said Carsten Gaarde, print shop manager, Jyske Bank.

Responding to customer requirements for alignment and registration accuracy, both presses are equipped with new tools designed to simplify the way customers achieve image quality consistency and maximize press uptime. Users can easily automate registration control and adjust density uniformity without the need of a technician.
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02.04.2013
Magazines See Surprising Spike In Ad Sales

Glossy products still look best on the glossy page.

Advertising for luxury brands is driving increases in first-quarter ad pages at big magazine publishers, a welcome dose of good news for companies that have grappled with layoffs, restructurings and general malaise in a business whose fortunes have fallen as the online world has grown.

Conde Nast, Hearst Magazines, Time Inc and Rodale all expect a rise in ad pages sold in their magazines for the first quarter.

Conde Nast, whose magazines include Vogue, GQ and Vanity Fair, expects its strongest first-quarter in five years, with a 5 percent increase in ad pages. The news was so unusual that the company even issued a press release on the subject, something it hasn't done in sometime.

And as Europe remains mired in an economic slump, high-end fashion brands like Hermes are finding a ripe audience in U.S. magazines.

"What I hear continually from research about luxury advertising is that consumers like the actual experience of print," said Brenda White, a senior vice president and a director of publishing at Starcom USA, a division of Publicis Group SA.

Company executives said the gains are not coming at the expense of lower prices.

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02.04.2013
Ad Spending Up in all Sectors... Except Magazines, According to Neilson Report

With ad spending up 3.3 percent YOY from January to September 2012 and a significant bump in ad spending during Q3 of 4.3 percent, advertisers by and large chose Television advertising as the favored media through which to communicate with consumers according to Nielsen’s quarterly Global AdView Pulse report.

When looking at all media types measured within Neilson's report, all media types saw increases in advertising spend year-to-date, with the sole exception of Magazines. Brands continued to invest less in this medium, with a -1.3 percent decrease in YOY spending from January to September 2012, and a deeper -1.8 percent decrease when looking at just the third quarter. Though the Asia Pacific sustained its investments (+5.3%), supported by key markets like China (+10.6%) and Japan (+3.8%), advertisers in both North America (-3.2%) and Europe (-6.8%) decreased budgets on Magazines

On a slightly more positive note for magazine brands, display Internet advertising (measured in a smaller subset of countries), saw a +7.7 percent YOY increase in advertising from January to September 2012, due to budget increases from Financial, FMCG, and Telecommunications advertisers. Magazine brands garnered almost 8% of this increase.
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02.04.2013
Cat Fancy Publisher Sold in 8-Figure Deal

A newly formed joint venture between Mark Harris, co-founder and co-owner of National Publisher Services (NPS), and David Fry, chairman of NPI Ventures LLC and CTO of Fry Communications, called I-5 Publishing LLC has acquired the books, magazines and websites of special interest publisher BowTie Inc.

Terms of the deal were not released, but Harris and Fry ballparked it at $10 million-plus. Included in the sale are Cat Fancy, Dog Fancy, Pet Product News International, Horse Illustrated, Urban Farm, AnimalNetwork.com, DogChannel.com and books like Dog Heroes of September 11th and The Original Dog Bible.

I-5 Publishing LLC, Harris and Fry’s new venture, is the latest in a series of professional partnerships between the two executives and their respective companies—NPI Ventures owns 50 percent of NPS, which acquired Circulation Specialists Inc. in 2011, as previously reported by FOLIO:.

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02.04.2013
Brent Crude Slips From Four-Month High Amid Iran Discussions

Brent crude retreated from its highest closing level in more than four months in London as the prospect of renewed talks between western governments and Iran spurred speculation that last week’s gains were excessive.

Futures slipped as much as 0.6 percent, while West Texas Intermediate halted its longest stretch of weekly advances in more than eight years. Iran considers an offer to negotiate directly with the U.S. over its nuclear program a “step forward” and expects to resume meetings with world powers later this month, Foreign Minister Ali Akbar Salehi said. Brent’s 14- day relative strength index was at 70, a technical level that suggests prices have climbed too quickly.

“It reduces the risk that Middle East tensions, or Iran tensions, will increase in the short term and bring oil prices substantially higher,” said Hannes Loacker, an analyst at Raiffeisen Bank International AG in Vienna, who predicts Brent will average $114 a barrel this quarter.

Brent for March settlement slid as much as 72 cents to $116.04 a barrel on the London-based ICE Futures Europe exchange, and was at $116.10 at 10:42 a.m. local time. It closed at $116.76 on Feb. 1, the highest since Sept. 13.

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02.04.2013
Neenah Paper Pricing and Envelopes Announcement

Neenah Paper is announcing a price increase of approximately 2% on select Brights, Writing, Text and Cover brands effective with shipments March 4, 2013. Orders entered before today's date and those received and scheduled to ship before March 4th will ship at today's price. All existing contract business will be reviewed within the agreed upon terms of the contract.

In addition, we are aligning the price for Exact® Index, Tag and Vellum Bristol Papers. We will be eliminating basis weight differentials effective with shipments March 4, 2013. This price alignment, designed for ease of doing business, will result in a maximum $1.50/cwt. increase on select items and up to a $1.25/cwt. decrease on others.
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02.01.2013
UPS Achieves Record Earnings Per Share

UPS today announced record 2012 fourth quarter and full year adjusted diluted earnings per share of $1.32 and $4.53 respectively, with the U.S. Domestic segment leading the way. The company generated annual free cash flow of approximately $5.4 billion, a testament to operations execution and the emphasis UPS places on capital efficiency. UPS estimates that Hurricane Sandy reduced earnings per share by approximately $0.05.

UPS recorded a fourth quarter mark-to-market, non-cash, after-tax charge of $3.0 billion for its company-sponsored pension and post-retirement benefit plans. Although the plans exceeded their expected rate of return, these incremental gains were more than offset by a 120 basis point decline in year-end discount rates. As a result, on a GAAP basis, diluted earnings per share for the quarter fell to a loss of $1.83. For the full year, reported diluted earnings per share were $0.83. This adjustment does not affect cash flow, required pension funding or benefits paid to plan participants.

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02.01.2013
Twin Rivers Paper Company Reports Environmental Improvements

Twin Rivers Paper Company, a leader in lightweight specialty packaging, label and publishing papers, announced significant inroads the company has made in environmental improvements. Since 2006, Twin Rivers has reduced its greenhouse gas emissions by 76 percent and now derives 83 percent of its energy from carbon-neutral sources.

Twin Rivers has beneficially reused 93 percent of its solid process by turning this waste stream into compost, fuel, land applications, and value-added raw materials. The company has also reduced its electrical consumption each year through the installation of variable-speed motors. They installed a system that replaces fresh water with processed water, saving nearly a million gallons of water every day, approximately equivalent to one and a half Olympic size swimming pools. By the end of 2013, the company will complete an initiative to reduce up to 85% of the odor from its Edmundston operations.

“We are tackling environmental projects that minimize our environmental footprint,” says Roland Leger, Manager of the Edmundston Pulp Mill. “We are firmly committed to completing the odor-reduction project by the end of 2013.”

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02.01.2013
Tembec reports financial results for its first quarter ended December 29, 2012

Consolidated sales for the three-month period ended December 29, 2012, were $376 million, as compared to $401 million in the comparable period of the prior year. The Company generated a net loss of $10 million or $0.10 per share in the December 2012 quarter compared to a net loss of $16 million or $0.16 per share in the December 2011 quarter. Operating earnings before depreciation, amortization and other items (adjusted EBITDA) was $19 million for the three-month period ended December 29, 2012, as compared to adjusted EBITDA of $12 million a year ago and adjusted EBITDA of $23 million in the prior quarter.

The Specialty Cellulose Pulp segment generated adjusted EBITDA of $18 million on sales of $103 million for the quarter ended December 29, 2012, compared to adjusted EBITDA of $25 million on sales of $127 million in the prior quarter.

The Paper segment generated adjusted EBITDA of $6 million on sales of $78 million for the quarter ended December 2012, compared to adjusted EBITDA of $14 million on sales of $96 million in the prior quarter.

The Forest Products segment generated adjusted EBITDA of $2 million on sales of $101 million for the quarter ended December 29, 2012, compared to adjusted EBITDA of $8 million on sales of $108 million in the prior quarter.

The Paper Pulp segment generated nil adjusted EBITDA on sales of $117 million for the quarter ended December 29, 2012, compared to negative adjusted EBITDA of $18 million on sales of $140 million in the prior quarter.

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02.01.2013
TC Media acquires Groupe Modulo

TC Media is pleased to announce that it has acquired all of the shares of Groupe Modulo, publisher of French-language educational resources and materials and a subsidiary of Nelson Education. This transaction brings Groupe Modulo into the Media Books and Education Division of TC Media, which also includes Chenelière Éducation, the leading publisher of French-language educational resources in Canada, Les Éditions Caractère and Les Éditions Transcontinental.

This transaction enriches TC Media’s educational offering, further strengthening its leading position in higher education in Québec and enhancing its presence in the educational market in French communities across the country. Groupe Modulo is an educational publisher that serves every level of the school system, from kindergarten to university, in the French and French-immersion markets across Canada. Its textbooks and innovative materials meet the learning needs of pupils and students, as well as the professional development needs of educators.

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