Paperclips Blog | UPM Results

03.15.2013
AAA Fuel Gage & Exchange Rates

AAA Fuel Gage 3/15/13
National Unleaded Regular:
Current Average - $3.695/gallon
Month Ago Average - $3.618/gallon
Year Ago Average - $3.821/gallon
Highest Recorded Average - $4.114/gallon on 7/17/08
Diesel:
Current Average - $4.072/gallon
Month Ago Average - $4.075/gallon
Year Ago Average - $4.122/gallon
Highest Recorded Average - $4.845/gallon on 7/17/08

Current Exchange Rates as of 3/15/13
American Dollar to Canadian Dollar = 0.979627
American Dollar to Chinese Yuan = 0.160800
American Dollar to Euro = 1.306531
American Dollar to Japanese Yen = 0.010402
American Dollar to Mexican Peso = 0.080562

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03.15.2013
WTI Oil Rises a Second Day; Brent Premium Set for Weekly Decline

West Texas Intermediate oil rose for a second day, heading for a second weekly advance. Brent crude’s premium to the U.S. benchmark grade is poised for the biggest weekly drop in 11 months.

WTI futures climbed as much as 0.4 percent in New York after gaining 0.6 percent yesterday, the most in a week. OPEC will increase daily crude exports by 300,000 barrels to 23.75 million in the four weeks to March 30 as refineries in Europe and the U.S. resume after maintenance and boost demand, according to Oil Movements, a tanker tracker. Brent oil is headed for a weekly decline.

“In the U.S., we’re exiting the refinery turnaround period and heading into the summer demand season,” said Anthony Nunan, a senior adviser for risk management at Mitsubishi Corp. (8058) in Tokyo. “With the glut in the U.S. Midcontinent being gradually relieved because of pipeline capacity build out, it looks like WTI is going to stabilize and maybe come up. WTI is much more constructive, whereas Brent really looks like it’s on a downtrend.”

West Texas oil for April delivery rose as much as 34 cents to $93.37 a barrel in electronic trading on the New York Mercantile Exchange and was at $93.25 at 3:17 p.m. Singapore time.

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03.14.2013
Plastic film recycling rises to 1 billion lb annually

The recycling of plastic film climbed 4% to reach 1 billion pounds annually in 2011 for the first time, according to the recently released “2011 National Postconsumer Plastic Bag & Film Recycling Report.” The category of “plastic film” includes plastic bags, product wraps, and commercial shrink film. The report, developed by Moore Recycling Associates, Inc. on behalf of the American Chemistry Council (ACC), noted that the recycling of plastic film has grown 55% since just 2005.

According to the report, approximately 58% of U.S.-recovered postconsumer film was consumed domestically in 2011—up from 53% in 2010—largely due to growth in the plastic and composite lumber industry, the primary market for this material. The composite lumber industry showed a 120 million-pound increase in consumption from 2010 to 2011 to reach 55% of the total market for recovered film. Consumption of postconsumer plastic film by the film and sheet industry, the second largest market for this material, held steady at 100 million pounds, or 16% of the total market.

Recycled polyethylene film is used to make a range of products, including durable plastic and composite lumber for outdoor decks and fencing, home building products, garden products, crates, pipe, and new film packaging like plastic bags.

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03.14.2013
Mercer Intarnational Inc. Reports Record 2012 Results

Mercer International Inc. today reported results for the fourth quarter and for the year ended December 31, 2012.

Total revenues for 2012 decreased to €834.1 million ($1,072.7 million) from €899.5 million ($1,252.0 million) in 2011. Pulp revenues for 2012 decreased by approximately 8% to €761.9 million from €831.4 million in 2011, primarily due to lower average pulp sales realizations, partially offset by higher pulp sales volumes and a stronger U.S. dollar relative to the Euro.

Energy and chemical revenues increased by approximately 6% in 2012 to an annual record of €72.3 million from €68.1 million in 2011, primarily as a result of record pulp production.

Pulp sales volumes increased by approximately 3% to a record 1,473,519 ADMTs in 2012 from 1,427,924 ADMTs in 2011, primarily as a result of increased sales to China. Average pulp sales realizations decreased by 11% to €511 per ADMT in 2012, compared to €574 per ADMT in 2011, primarily due to lower pulp prices, only partially offset by a stronger U.S. dollar relative to the Euro.

Costs and expenses in 2012 marginally decreased to €785.1 million, compared to €788.4 million in 2011, primarily due to lower costs for fiber, partially offset by higher pulp sales volumes.

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03.14.2013
Mayr-Melnhoff Karton Annual Result 2012

In 2012 the Mayr-Melnhof Group was able to continue its successful performance of previous years with a further increase in the profit for the year. Both divisions, MM Karton and MM Packaging, made a substantial contribution to this. By focusing on the highly efficient production of consumer goods, we have been able to maintain long-term profitability in a period of continuing economic slowdown and despite non-recurring expenses related to the closure of a plant. Although customers have been planning with increasing caution, we have ensured that the capacity utilization for our plant and equipment remained at a high level by being very flexible. Focusing on the future, we have invested in projects for the reduction of direct costs and further growth. The strategic expansion into future growth markets outside of Europe was taken into account with an acquisition in Colombia, where we are now the market leader. In Europe we succeeded in securing our leading position and selectively expanding our market share. Due to the positive results, it is intended to increase the dividend per share from EUR 2.10 to EUR 2.25.

At EUR 1,952.2 million the Group’s consolidated sales almost reached the previous year's record level (2011: EUR 1,959.6 million).

Operating profit was at EUR 166.1 million, by 2.8 % or EUR 4.8 million lower than in the previous year (2011: EUR 170.9 million), whereby non-recurring expenses in the net amount of around EUR 9.0 million related to the closure of the packaging plant in Liverpool, England, had to be accounted for. However, at 8.5 % the Group’s operating margin almost reached the previous year's level (2011: 8.7 %). The Return on Capital Employed amounted to 17.1 % (2011: 18.6 %).

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03.14.2013
Are Higher Postal Rates in Your Future?

Marketers should not be surprised at being hit with sharp increases in postal rates if Congress, postal unions, and regulators cannot agree on a self-sustaining survival plan for the U.S. Postal Service (USPS). The heads-up was delivered to Direct Marketing Association (DMA) members yesterday by Postal Regulatory Commission general counsel Steven Sharfman.

“It could be coming within the next 12 to 18 months,” Sharfman warned. “It's just that no one talks about it.”

The USPS finds itself in troubled waters, attempting to cut costs and right itself in the middle of a government breakdown. “It is losing a great deal of money, and most of the fat is cut,” Sharfman told attendees at the DMA in DC conference in Washington DC. “There's little desire to spend money on Capitol Hill, so if they need to bail out the Postal Service, it's possible mailers will be asked to pay more money.”

The USPS last year closed several processing centers and post offices and curtailed hours at rural post offices, carving $500 million to $600 million from its budget. Future cuts, however, could be in a holding pattern. Postmaster General Patrick Donahoe wants to continue shuttering facilities, but the USPS's original directive from the PRC was to wait a year to evaluate the effect of the first round of closures before making more. And with a possible government shutdown looming, it's possible that Donahoe's plan to eliminate Saturday mail delivery could be temporarily shelved.
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03.14.2013
WTI Oil Heads for Two-Week High; Brent Spread at Seven-Week Low

West Texas Intermediate rose, heading for the highest settlement in two weeks and shrinking Brent crude’s premium to the U.S. benchmark grade to the narrowest in almost two months.

WTI futures climbed as much as 0.5 percent in New York, while Brent was little changed in London. The differential between the two grades shrank after an Energy Department report yesterday showed supplies at Cushing, Oklahoma, the delivery point for Nymex futures, fell the most since May 2011. Total U.S. crude stockpiles climbed to the highest for the time of year in records dating back to 1982.

“We have a repeat of yesterday where we are starting the session bouncing from a relatively low level,” Ole Hansen, the head of commodity strategy at Saxo Bank A/S, said today by telephone from Copenhagen. “This morning we are having a little bit of a bounce, but lots of the focus is on the spread between the two crude varieties which has come down to $16.”

WTI for April delivery rose as much as 50 cents to $93.02 a barrel in electronic trading on the New York Mercantile Exchange and was at $92.73 at 9:33 a.m. London time. The volume of all futures traded was little changed from the 100-day average. The contract lost 2 cents yesterday after climbing to $92.54 on March 12, the highest settlement since Feb. 27.

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03.14.2013
McClatchy to Acquire Media Analytics Firm Tru Measure

The McClatchy Company announced today that it has signed an agreement to acquire Tru Measure, a media measurement and analytics firm based in Crested Butte, Colorado. McClatchy expects to complete the acquisition by the end of the month. Financial terms were not disclosed.

Founded in 2009, Tru Measure provides media companies and their advertising customers with tools and technology to better measure and track the effectiveness of digital advertising campaigns and consumer engagement.

Tru Measure has partnered with McClatchy since 2010. Its products are a key component of McClatchy’s recent impressLOCALTM initiative, which provides small and medium-sized advertisers with the digital tools and support necessary to successfully market their businesses online. impressLOCALTM debuted at McClatchy newspapers in Kansas City and Fort Worth in 2012 and is being rolled out to several additional McClatchy markets in 2013.

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03.14.2013
UPM wins Sustainable Biofuels Award in Rotterdam

UPM has received the Sustainability Award 2013 for Breakthrough Innovation in Technology in Rotterdam, the Netherlands. The award which recognises the innovation that is taking place in the development of truly sustainable and renewable fuels is presented by the World Biofuels Markets Congress & Exhibition.

UPM Biofuels received the Sustainable Biofuels Award due to its success in developing an innovative production process for an advanced renewable diesel, UPM BioVerno. So even before it goes live, UPM’s renewable diesel production process has won a major international prize.

The award was judged by an elite panel of independent industry experts. According to reasoning, UPM was the winner of the Breakthrough Innovation in Technology Award because of the UPM BioVerno product characteristics corresponding to traditional fuel with the greenhouse gas emissions being reduced by up to 80%.

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03.14.2013
International Paper Raises Carolina C1S Blanks Pricing

Effective with shipments on or after March 28, 2013, we are increasing program pricing for Carolina® C1S Blanks 14pt – 28pt by $2.50/cwt.
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03.14.2013
Coldwater Creek Announces Fourth Quarter and Fiscal Year 2012 Results

Coldwater Creek Inc. today reported financial results for the quarter and fiscal year ended February 2, 2013.

Fourth Quarter of Fiscal 2012 Operating Results
• Consolidated net sales were $220.8 million, compared with $224.4 million in fourth quarter 2011, which included net sales of $11.8 million as a result of a favorable cumulative one-time adjustment for gift card breakage income. Net sales from the retail segment were $166.0 million, compared with $173.5 million in the same period last year. Comparable premium retail store sales increased 2.7 percent. Net sales decreased due to store closures as a result of our store optimization program and the impact of $10.7 million in net sales from the cumulative one-time gift card breakage recorded in the fourth quarter 2011. Net sales from the direct segment were $54.7 million compared with $50.8 million in the same period last year, which included $1.1 million from the cumulative one-time adjustment for gift card breakage.
• Consolidated gross profit was $64.1 million, or 29.1 percent of net sales, compared with $73.1 million, or 32.6 percent of net sales, for fourth quarter 2011. The 350 basis point decline in gross profit margin was primarily due to the 370 basis point benefit in the fourth quarter of fiscal 2011 resulting from the cumulative one-time adjustment for gift card breakage. Adjusting for this benefit, gross margin increased 20 basis points driven by leverage of buying and occupancy costs offset by lower merchandise margins.

Full Year Fiscal 2012 Operating Results
• Consolidated net sales for fiscal 2012 were $742.5 million, compared with $773.0 million in fiscal 2011. Net sales from the retail segment were $574.4 million, compared with $595.2 million last fiscal year. Comparable premium retail store sales increased 0.8 percent. Net sales from the direct segment were $168.0 million, compared with $177.8 million last fiscal year.
• Consolidated gross profit increased $3.8 million to $233.1 million, or 31.4 percent of net sales, compared with $229.3 million, or 29.7 percent of net sales, for fiscal 2011. The 170 basis point increase in gross profit margin was primarily due to increased leverage of buying and occupancy costs and higher merchandise margins reflecting improved product performance. Last year's gross margin included a 110 basis point benefit in the fourth quarter of fiscal 2011 from the cumulative one-time adjustment for gift card breakage income.

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03.14.2013
Fortress Paper Agrees to Sell Dresden Mill

Fortress Paper Ltd. is pleased to announce that it and its wholly owned subsidiary, Fortress Security Papers AG, have entered into a share purchase agreement with Glatfelter Gernsbach GmbH & Co. KG and its parent, P.H. Glatfelter Co., pursuant to which FSP has agreed to sell all of the shares of its wholly owned subsidiary, Dresden Papier GmbH ("Dresden"), to Glatfelter Gernsbach for an aggregate purchase price of €160,000,000 (CDN$213 million), subject to working capital adjustment. The transaction is expected to close within the second quarter of 2013, but no later than June 30, 2013, and is subject to certain customary conditions, including governmental anti-trust approvals in Germany and the Ukraine.

Pursuant to the terms of the Share Purchase Agreement, the Company has agreed to guarantee the obligations of FSP and Glatfelter has agreed to guarantee the obligations of Glatfelter Gernsbach thereunder.

Dresden owns and operates the Company's Dresden Mill, a producer of non-woven wallpaper base paper operating in Germany.

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03.14.2013
MWV’s Avive Wins Compliance Package of the Year Award

MeadWestvaco Corporation, a global leader in packaging and packaging solutions, today announced that its Avive® multiple-medication patient adherence solution received the Compliance Package of the Year award from the Healthcare Compliance Packaging Council (HCPC). Patient adherence to prescribed medication regimens is a global challenge, and research shows that approximately half of all patients across the globe do not take their medicines as directed.

Avive is a patient-customized solution that simplifies daily dosing for customers on multiple medications. It was developed with input from patients and pharmacists. This ready-to-dispense, script-filling pharmacy service is designed to increase medication adherence, provide convenience for patients and allow more time for pharmacist-customer counseling. An HCPC awards judge noted that Avive “truly brings us to a personalized medication approach.”

The development of Avive is an output of MWV’s long-standing commitment to further awareness of the challenges of medication non-adherence, to understand the underlying causes and to provide solutions to help patients effectively follow their regimens. Studies indicate that medication packaging can play a unique and effective role in patient adherence, reinforcing important information about how to take medications correctly on each and every use. Additional research shows that script synchronization and regimen customization, part of the Avive system, also positively impact patient adherence.

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03.14.2013
Glatfelter announces global 6% price increase for carbonless sheets

P.H. Glatfelter Co. has announced a 6% price increase for its carbonless sheets grades sold in all of its global markets.

The increase is effective with shipments on or after April 1.

The affected grades are Excel One carbonless for digital and offset, Xcelerator PLUS digital carbonless, Sequel 30 recycled carbonless, Optica self-contained carbonless, and Fan-Apart adhesive.
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03.14.2013
Appleton announces 6% carbonless sheets price increase for U.S. and Canada

Appleton Papers Inc. has announced a 6% price increase for its carbonless sheets sold in the U.S. and Canada, effective with shipments on April 1.

In its notice to customers, Appleton said it will increase prices of NCR PAPER brand products, including all carbonless sheet grades, non-paper products, 8PT coated one-side (C1S) Fluorescents (excluding 18” x 12” digital size), and 10PT C1S Fluorescents.
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03.13.2013
Transcontinental Inc. increases its revenues and profitability in the first quarter

Revenues for Transcontinental Inc. were up 8.4% in the first quarter, from $487.6 million to $528.7 million, mainly due to the acquisition of Quad/Graphics Canada, Inc. and Redux Media and the Métro Montréal daily paper in the Media Sector. This increase was, however, partly offset by the termination of the Zellers flyer printing and distribution contract due to the closure of the Zellers stores, and the incentives granted upon the renewal of some contracts in 2012.

Adjusted operating income rose 6.3% in the first quarter, from $43.0 million to $45.7 million. The increase stems mainly from the synergies obtained from the acquisition of Quad/Graphics Canada, Inc. and the optimization of the operating structure in digital activities. However, the increase was mitigated by the reasons mentioned above. Net income applicable to participating shares rose, from a loss of $33.3 million, or $0.41 per share, to a profit of $17.8 million, or $0.23 per share. Note that last year the loss of $0.41 per share was mainly related to unusual items charged to income in the first quarter of 2012. Excluding unusual items, the adjusted net income applicable to participating shares rose 5.2%, from $27.1 million, or $0.33 per share, to $28.5 million, or $0.37 per share.

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03.13.2013
TC Transcontinental releases its 4th annual Sustainability Report

TC Transcontinental today announced the release of the fourth edition of its Sustainability Report entitled “simplify, collaborate, innovate”. The report details the commitments, approach and themes related to corporate governance and environmental, social and economic performance under the Corporation’s 2010-2013 three-year plan. The information provided in the report, with respect to stakeholder concerns and corporate issues, has enabled it to maintain its Application Level B rating from the Global Reporting Initiative (GRI).

This year, in the area of environment, the Corporation expanded the internal and external scope of its paper purchasing policy by specifying the use of recycled or certified papers for its printing and publishing operations. In fact, the Corporation’s purchases of ecopapers (Gold and Gold Plus) have increased to 67%, exceeding its target of 55%. In terms of social engagement, the Corporation has formalized its donation policy by identifying two priority areas: education and health. As well, it has further improved its lost-time accident severity and frequency rates, which continue to be much lower than the industry average. From an economic standpoint, the Corporation has continued to maintain a strong balance sheet and increase its return on net assets, which currently stands at 8.8%. Lastly, in terms of corporate governance, the Corporation continues to work steadily to increase the number of women in senior management positions through its talent development and succession plan. As at October 31, 2012, women made up 17% of senior management.

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03.13.2013
AEP Industries Inc. Reports Fiscal 2013 First Quarter Results

AEP Industries Inc. today reported financial results for its first quarter ended January 31, 2013.

Net sales for the first quarter of fiscal 2013 decreased $0.5 million, or 0.2%, to $267.1 million from $267.6 million for the first quarter of fiscal 2012. The decrease was the result of a decrease in sales volume of 0.8% partially offset by a 0.4% increase in average selling prices and improved sales mix.

Gross profit for the first quarter of fiscal 2013 was $42.4 million, an increase of $7.8 million, or 22%, compared to the comparable period in the prior fiscal year. Excluding the impact of the LIFO reserve change of $6.4 million during the periods, gross profit increased $1.4 million primarily due to improvements in material margins, plant utilization and sales mix.

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03.13.2013
Bonnier Corp. Folds 'Garden Design'

Garden Design, the upscale bimonthly home/garden/lifestyle magazine that launched with fanfare in April 1994, shut down quietly on March 13. A statement from owner (since 2006) Bonnier Corp. blamed "the economic climate, compounded by the significant industry transition to digital, [that] limited the growth in advertising needed to make [GD] viable for our future."

GD was the brainchild of Chris Meigher, the former Time Inc. executive whose credits included the 1990 launch of then-Time Inc.-partnered Martha Stewart Living. (Martha Stewart Living Omnimedia did not form until 1997.) This first Meigher Communications brand was introduced at the New York Flower and Garden Show in Rockefeller Center, and investors were said to have included 1989-1992 Time Warner co-CEO Nick Nicholas. In 1995, Meigher and editorial director Dorothy Kalins launched the epicurean Saveur (which continues), and the future seemed bright.

But Meigher's financial problems in 2000 led to his selling both magazines to Orlando-based World Publications founder (1984) founder Terry Snow for a bargain-basement $7 million that August. When Snow sold World to Bonnier Corp. for an estimated $100 million in May 2006, the two were part of the package.
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03.13.2013
Politico Plans Print Magazine Launch as It Passes 1,000 Pro Subscriber Mark

Politico, the politics and policy journalism site, says it has broken the 1,000 subscription mark to its Pro news service. Like other content-based sites, Politico has supplemented its revenues through paid subscription service that includes original content, but in this case offers robust personalization features to add value for subscribers.

The subscriptions are generally sold on an enterprise level, and Politico says about 7,000 individuals are subscribed to the two-year-old service through their organizations. The renewal rate is at 96 percent, says the company.

"We launched it because it was crystal clear for us that there was an appetite for reporting on these policy areas," says Politico executive editor Jim VandeHei. "To us, it was a pretty simple formula—hire the right reporters, have the technology and go in heavy."

VendeHei describes the Pro service as an early morning news feed, scoop machine, tipsheet, conventional reporting vehicle and, importantly, a highly personalized experience.

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03.13.2013
WTI Oil Trades Near Two-Week High as Crude Supplies Fall

West Texas Intermediate traded near the highest level in two weeks after an industry report showed U.S. crude stockpiles fell for the first time since February. The IEA trimmed its 2013 global oil demand forecast.

Futures advanced a fifth day, the longest run of gains since December. Crude inventories shrank by 1.38 million barrels last week, the American Petroleum Institute said. An Energy Department report today may show supplies rose by 2.3 million, according to a Bloomberg News survey. The International Energy Agency curbed demand estimates for this year by 60,000 barrels a day to 90.6 million.

“The market is pretty well balanced,” said Ole Hansen, the head of commodity strategy at Saxo Bank A/S in Copenhagen. “We are still in the process of just establishing a range.”

WTI for April delivery was at $92.95 a barrel, up 41 cents, in electronic trading on the New York Mercantile Exchange as of 9:27 a.m. London time. The volume of all futures traded was 24 percent above the 100-day average. The contract rose 48 cents to $92.54 yesterday, the highest close since Feb. 27.

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03.13.2013
Non-Profit Initiates Next Stage of its Mission to Stop Greenwashing

Two Sides today announced the next stage of its nationwide initiative to urge major U.S. banks, utilities and telecommunication companies to end the use of misleading marketing claims about the sustainability of print and paper.   Phase Two will include a second round of communication intended to initiate productive discussion with senior management in the target industries, reminding them of their responsibility to adhere to best practices for environmental marketing as outlined in the U.S. Federal Trade Commission’s recently revised Green Guides.

Last year, Two Sides contacted senior bank, utility and telecom executives, encouraging them to follow the yet-to-be-released FTC Green Guides, which say that environmental marketing claims should not exaggerate environmental impacts and must be substantiated.   While some responded positively, many of the nation’s top banks, utilities and telecoms continue to tell their customers that switching to online billing and communication is better for the environment than print and paper with no verifiable or credible supporting evidence. With the release of the updated Green Guides in October 2012, the FTC made it official that that unqualified environmental language would be viewed as deceptive marketing, strengthening the Two Sides call for change.

“Two Sides has no desire to cause unnecessary negative publicity for these companies or to undermine their cost-saving and efficiency reasons for driving customers towards e-billing, but claims that print and paper are environmentally unfriendly need to stop,” says Two Sides President Phil Riebel. “Rather than call these respected companies out publicly with greenwashing complaints, we’d much prefer to amicably work with them behind the scenes to help develop messaging that meets the Green Guides standards for environmental marketing,” he says. “However, we’re prepared to use the strongest means necessary to put an end to the use of unsupported environmental claims that are potentially damaging to the paper, printing and mailing sectors which support millions of U.S. jobs.”

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03.13.2013
Domtar inaugurates commercial lignin production

Domtar Corporation today announced that it has successfully installed a commercial-scale lignin separation plant at its Plymouth, North Carolina mill, the first U.S. facility of its type in over 25 years. The production of BioChoiceTM lignin began in February, with a targeted rate of 75 tons a day, destined for a wide range of industrial applications as a bio-based alternative to the use of petroleum and other fossil fuels.

The successful installation of commercial-scale lignin removal capacity at the Plymouth Mill is the culmination of a research and engineering project launched by Domtar in 2010. This project was further boosted when the U.S. Department of Agriculture and the U.S. Department of Energy awarded the company a grant through the Biomass Research and Development Initiative. Domtar's lignin operation sets a new path for the industry and also marks the latest sustainability milestone for a company that has long been recognized as an industry leader in forest certification and environmental stewardship.

"Our vision is to be a global leader in fiber-based innovation," said Bruno Marcoccia, Domtar's director of research and development. "A big part of this is our focus on partnering with best-in class collaborators to develop new products and markets for a wide portfolio of initiatives, like BioChoice."

"The possibilities for making a real difference in terms of offering manufacturers a bio-based alternative to the use of petro-chemicals is truly exciting," said Hasan Jameel, a professor in North Carolina State University's Department of Forest Biomaterials. "This is a big win for sustainability on two counts - Domtar improves the efficiency of its pulp-making process, and at the same time the market gets a reliable, high-quality source of this underused material with so much potential."

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03.13.2013
Resolute Announces Indefinite Idling of Paper Machine at its Calhoun Mill

Resolute Forest Products Inc. announced today the indefinite idling of a newsprint machine at its Calhoun mill in Tennessee. The idling comes as a result of a decrease in demand for newsprint, coupled with high operating costs for the machine, which produced 215,000 metric tons per year. The decision follows Resolute's March 11 acquisition of the 49% interest in Calhoun Newsprint Company ("CNC") owned by The Herald Publishing Company, LLC, its joint-venture partner.

The Calhoun mill, which presently employs 610 workers, will continue to operate the two specialty paper machines and the pulp dryer. The announcement will affect approximately 150 positions at the mill.

The Company recognizes the impacts this decision will have on the employees concerned and their families. Severance will be provided to affected employees according to the local labor agreement or the corporate policy for salaried employees. Outplacement assistance will be made available through government agencies.

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03.12.2013
John Wiley & Sons, Inc., Reports Third Quarter Fiscal Year 2013 Results

John Wiley & Sons, Inc., a global provider of knowledge and knowledge-based services in areas of scientific, technical, medical, and scholarly research (STMS); professional development (PD); and education today announced results for the third quarter of fiscal year 2013:

Adjusted:
Revenue grew 6% to $461 million excluding divested consumer publishing programs and including acquisitions. Revenue grew 1% excluding both the divested and acquired assets. Digital revenue growth in Professional Development and Global Education was offset by continued softness in print books and lower STMS journal revenue, as expected
Adjusted revenue change by segment, excluding FX and divested consumer publishing revenue: STMS -3%, PD +14%, and Education +18%
Adjusted EPS grew 6% to $0.93 per share excluding FX. Adjusted EPS excludes the divested consumer publishing programs (-$0.02 per share) and certain other items described in the attached schedule. Acquired businesses were accretive to results by $0.01 per share
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03.12.2013
Sixty-Six Titles Join Wiley’s Journal Portfolio in 2013

Sixty-six journals will join John Wiley & Sons, Inc., a global provider of content-enabled solutions in areas of scientific, technical, medical, and scholarly research; professional development; and education, in 2013. The titles include 52 journals moving to Wiley from other publishers or self-publication, and 14 new titles, of which eight are open access. The titles joining Wiley represent relationships with over 30 societies and associations.

Included in the 52 titles moving to Wiley are 17 journals from the American Geophysical Union, including Journal of Geophysical Research, Water Resources Research and Reviews of Geophysics. This year also sees several other partnerships such as with the American College of Clinical Pharmacology on their titles Clinical Pharmacology in Drug Development and The Journal of Clinical Pharmacology; with the Society for the Experimental Analysis of Behavior to publish Journal of Applied Behavior Analysis and Journal of the Experimental Analysis of Behavior; with the Obesity Society to publish Obesity; and with the British Educational Research Association to publish the British Educational Research Journal as well as to launch a new title, Review of Education.

2013 sees the launch of a new title in the Advanced Materials family, Advanced Optical Materials, and Stat, an online-only, rapid communication research journal in partnership with the International Statistical Institute. Wiley also acquired six well-respected newsletters for nonprofits from Stevenson, Inc., including The Major Gifts Report, The Volunteer Management Report and Successful Fundraising.
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03.12.2013
The Bon-Ton Stores, Inc. Announces Fourth Quarter and Fiscal 2012 Results

The Bon-Ton Stores, Inc. today reported operating results for the fourth quarter and fiscal 2012 ended February 2, 2013. Results for the fourth quarter and fiscal 2012 are impacted by the inclusion of an additional week in each period, resulting in a 14-week and 53-week reporting period, respectively, in accordance with the National Retail Federation fiscal reporting calendar. This compares with a reporting period of 13 weeks and 52 weeks in the fourth quarter and fiscal 2011, ended January 28, 2012, respectively.

For the fourth quarter of fiscal 2012, total sales in the 14 weeks ended February 2, 2013 increased 3.2% to $1,015.1 million, compared with $983.2 million in the 13-week period last year. Comparable store sales in the 13 weeks ended January 26, 2013 increased 1.0%, compared with the 13-week period last year.

Fiscal 2012 total sales for the 53 weeks ended February 2, 2013 increased 1.2% to $2,919.4 million, compared with $2,884.7 million in the 52-week period last year. Comparable store sales in the 52 weeks ended January 26, 2013 increased 0.5%, compared with the 52-week period last year.

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03.12.2013
TC Media launches new magazine in collaboration with Véronique Cloutier

TC Media is once again breaking new ground by partnering with the talented Véronique Cloutier to launch a new women’s magazine called VÉRO. This quarterly magazine will be on newsstands throughout Quebec starting next fall, and will target passionate, active women who want to feel good about themselves, who treasure time with their families and have a zest for life.

Like the woman who inspired it, the new magazine will have a vivacious, energetic style. The look will be sophisticated yet accessible, with a lively and relevant tone. Embodying the values and principles that Véronique Cloutier lives by, the magazine will take a generous and intimate look at the world women are living in today. It will touch on the pleasures of life, entertaining, sharing, helping.

“VÉRO magazine is a natural fit for us and will enrich our portfolio of publications for women by showcasing the unique personality and values of Véro, one of the most respected and admired women in Quebec,” said Lise Paul-Hus, Group Publisher and VP, Consumer Solutions Montreal for TC Media. “We are very pleased to launch this magazine, which is sure to become staple reading for the women of Quebec, an opportunity to share special and intimate moments with Véro, and another way for her to engage with her audience. We greatly appreciate Véro’s confidence in this project.”

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03.12.2013
Forest Products CEOs Foresee Long-term Revenue Growth

Forest, paper & packaging (FPP) CEOs are less confident about revenue growth over the next 12 months than their peers in other sectors, but are more optimistic about their company's revenue prospects in the next three years, according to PwC's 16th Annual Global CEO Survey released recently in Davos, Switzerland .

"The CEOs of forest, paper and packaging companies are a resilient bunch. Recently they've faced challenges such as shifting demand and markets, a bumpy economy, overcapacity, environmental issues and rising costs," said Bruce McIntyre, Leader of PwC's Forest, Paper and Packing practice in Canada . "CEOs have identified their top three priorities: enhancing operational effectiveness; investing in innovation and R&D; and developing new business models."

McIntyre says, "FPP CEOs are intensely focused on trimming any fat from operations." The survey found 92% of sector CEOs have implemented a cost-reduction initiative in the past 12 months, and 89% are planning to in the coming 12 months. This result is higher than the overall average of 70% of CEOs across all sectors in the PwC survey. Some of the cost reduction reported was through staff cuts, which are expected to continue, with 18% of FPP CEOs reporting plans to cut their workforce by more than 8% this year.

R&D and innovation is a top priority for 42% of FPP CEOs in the next 12 months — a full 10% higher than the overall average across the entire CEO Survey. Almost three-quarters of the FPP CEOs said they will make changes to increase capacity for innovation and R&D.

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03.12.2013
Houghton Mifflin Harcourt Trade Publishing Signs International Sales Agreement with Hachette

Houghton Mifflin Harcourt (HMH) Trade Publishing today announced a new partnership with Hachette Book Group (HBG) in key international markets including Latin America, South America, Asia and Europe. Hachette Book Group will be responsible for sales, billing, returns, credit processing and collections services for HMH general interest titles and books for young readers. HMH will handle order fulfillment.

“This new international distribution partnership between HMH and Hachette will provide many expanded opportunities for our books and authors. We look forward to providing continued excellent service and an enhanced marketing and sales profile for both existing customers and many first time customers,” says Laurie Brown, HMH SVP Sales & Marketing.

“The international markets have consistently been an area for growth at Hachette, and we’re thrilled to be now able to represent the fantastic Houghton Mifflin Harcourt list, starting this fall,” said Todd McGarity, VP Distribution Sales and Services at Hachette Book Group.

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03.12.2013
Fortress Paper Announces Fourth Quarter 2012 Results

Fortress Paper Ltd. reported 2012 fourth quarter EBITDA of $0.5 million, an improvement of $6.9 million compared to the third quarter of 2012. Excluding corporate costs, the three business segments’ combined EBITDA was $1.1 million in the three months ended December 31, 2012. The Specialty Papers Segment contributed $9.3 million EBITDA, while the Dissolving Pulp Segment and the Security Paper Products Segment generated EBITDA losses of $3.5 million and $4.7 million, respectively. Corporate costs contributed to EBITDA loss in the amount of $0.6 million.

Fortress reported an adjusted net loss of $5.2 million, or diluted adjusted loss per share of $0.36 for the fourth quarter of 2012 on sales of $96.1 million. In the third quarter of 2012, the Company reported an adjusted net loss of $18.1 million or diluted adjusted loss per share of $1.26 on sales of $73.0 million and for the fourth quarter of 2011 adjusted net loss of $6.3 million or diluted loss per share of $0.44 on sales of $49.5 million.

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03.12.2013
Costco Wholesale Corporation Reports Second Quarter and Year-to-Date Operating Results for Fiscal Year 2013

Costco Wholesale Corporation announced today its operating results for the second quarter (twelve weeks) and first half (24 weeks) of fiscal 2013, ended February 17, 2013. Net sales for the quarter increased eight percent, to $24.34 billion, from $22.51 billion last year. Net sales for the first half increased nine percent, to $47.55 billion, from $43.69 billion last year.

Net income for the quarter was $547 million, or $1.24 per diluted share, compared to $394 million, or $.90 per diluted share, last year. Net income was positively impacted by a $62 million ($0.14 per diluted share) tax benefit in connection with the portion of the special cash dividend paid by the Company in December 2012 to the Company 401(k) plan participants. Net income for the first half was $963 million, or $2.19 per diluted share, compared to $714 million, or $1.62 per diluted share, last year.

Costco currently operates 622 warehouses, including 448 in the United States and Puerto Rico, 85 in Canada, 32 in Mexico, 23 in the United Kingdom, 13 in Japan, nine in Taiwan, nine in Korea and three in Australia. The Company plans to open up to an additional fourteen new warehouses prior to the end of its fiscal year on September 1, 2013.

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03.12.2013
WTI Falls From Two-Week High as Stockpiles Seen Climbing

West Texas Intermediate oil fell from the highest price in almost two weeks before a report that may show U.S. crude stockpiles rose to an eight-month high. Refining in China dropped to the lowest level in four months.

Futures slid as much as 0.5 percent in New York. U.S. crude inventories probably climbed an eighth week in the seven days through March 8, the longest run of gains since May, a Bloomberg News survey showed before Energy Department data tomorrow. China cut oil-processing by 2 percent last month, government data showed today. South Korean officials said refineries importing North Sea crude will receive smaller rebates for exports of products.

“The market is very amply supplied as we approach the low season for refining, and that’s going to be reflected in growing global inventories,” said Andy Sommer, a senior oil analyst at Axpo Trading AG in Dietikon, Switzerland. “There’s probably another $4 to $5 of downside left for the oil price.”

WTI for April delivery declined as much as 46 cents to $91.60 a barrel in electronic trading on the New York Mercantile Exchange and was at $91.74 at 10:15 a.m. London time. The volume of all futures traded was 1 percent above the 100-day average. The contract rose 11 cents yesterday to $92.06, the highest close since Feb. 27. Prices are down 0.1 percent this year.

Brent for April settlement was down 37 cents, or 0.3 percent, at $109.85 a barrel on the London-based ICE Futures Europe exchange.

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03.12.2013
Kantar Media reports U.S. ad spending up 3% last year

Total ad spending in the U.S. reached $140.0 billion last year, up 3% over 2011, according to Kantar Media. Kantar tracks ad spending for measured media including TV, radio, magazines, newspapers, online (display ads only) and outdoor advertising.

During the fourth quarter, total ad spending was up 2% compared with the same period in 2011.

The fastest-growing media category last year was TV, which grew 8% over 2011, Kantar said. Outdoor advertising grew by 5%, and radio increased by 3%.

Categories that were down last year included magazines (down 2%), newspapers (down 3%) and online (down 3%).

Within the magazine category, ad spending in consumer magazines was down 3% from 2011, while ad spending in b2b magazines was down 2%.

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03.12.2013
RR Donnelley Awarded a Multi-Year Agreement by International Airlines Group

R. R. Donnelley & Sons Company today announced that it has been awarded a multi-year agreement by International Airlines Group (IAG) and its subsidiaries British Airways, Iberia and Avios. Under the terms of the agreement, which renews and expands the companies' relationship, RR Donnelley will provide a range of print management, direct response, warehousing and logistics services.

"RR Donnelley has worked with British Airways for many years" said Enrique Grande, IAG head of procurement. "This new contract extends their remit across all the companies within IAG, providing a more comprehensive and efficient service for the group".

International Airlines Group is one of the world's largest airline groups with 398 aircraft flying to 200 destinations and carrying more than 50 million passengers each year. British Airways is the UK's largest international airline and one of the world's leading global premium carriers. Iberia is Spain's largest air transport group and the third-largest in Europe, and the leading airline on routes between Spain and Latin America. Avios draw on its expertise and resources in travel and leisure rewards to offer choice, flexibility and exciting rewards to members of its programs.

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03.12.2013
Brown Printing Expands Mobile Solutions through the Acquisition of Nellymoser

Brown Printing Company today announced the acquisition of Nellymoser, a Boston-based mobile marketing and technology company.

Nellymoser is a mobile innovator and a pioneer in rich media delivery, having deployed over 800 print-to-digital campaigns in 2012 for 50 of the Top 100 magazines.

The company offers both a mobile companion application platform with self-service tools and packaged print-to-digital solutions, which are then, deployed by their customers as cross media campaigns. Campaigns typically include one or more brand activation points such as invisible watermarks, images, NFC and QR codes that are placed in magazines, catalogs, or on product packaging. Consumers scan the printed material with their mobile smartphones, thereby activating additional interactive content or digital direct response mobile marketing.

Nellymoser will operate as a division of Brown, a Gruner + Jahr Company, and will maintain its operations in the Boston area. Nellymoser has been driven by a talented and dedicated group of employees with over 10 years of mobile experience. Brown will retain the core team and structure to grow the business by continuing to deliver industry-leading mobile solutions.

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03.12.2013
Urban Outfitters Reports a 104% Jump in Q4 Operating Profit

Urban Outfitters, Inc., a leading lifestyle specialty retail company operating under the Anthropologie, BHLDN, Free People, Terrain and Urban Outfitters brands, today announced net income of $83 million and $237 million for the fourth quarter and year ended January 31, 2013, respectively. Earnings per diluted share were $0.56 for the quarter and $1.62 for the year.

Total Company net sales for the fourth quarter of fiscal 2013 increased to a record $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 a record $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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03.12.2013
MWV Price Increase on Tango Blanks and Tango C1S Heavyweights

Effective with shipments on April 1, 2013, program pricing for Tango Blanks and Tango Heavyweights (C1S 14 point and above) will increase $2.50 per CWT.

For customers who order these products in roll form, you will receive revised MSF pricing.

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03.12.2013
Grainger Reports February 2013 Sales Results

Grainger today reported sales results for the month of February 2013. Daily sales increased 6 percent versus February 2012, and included 4 percentage points from volume, 2 percentage points from price and 1 percentage point from acquisitions, partially offset by a 1 percentage point decline from foreign exchange. The month of February 2013 had 20 selling days versus 21 selling days in February 2012. The 2013 first quarter will have 63 selling days, one less than the 64 selling days in the 2012 first quarter.

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03.11.2013
Oil Drops for Second Day as China Industrial Output Slows

Brent crude fell for a second day as industrial production slowed in China, the world’s second- biggest oil consumer, and Saudi Arabia boosted output.

Futures slid as much as 0.8 percent after gaining 0.4 percent last week, snapping three weeks of declines. Saudi Arabia’s crude production rose in February from a 20-month low, according to an official with knowledge of the country’s oil policy. China started the year with the weakest industrial output since 2009, government data showed March 9. Iran, which is under Western sanctions because of its nuclear program, said the prospects for resolving the dispute have improved.

“We have no reason to rally,” amid rising Saudi output and reduced demand from refiners during seasonal maintenance, Andrey Kryuchenkov, an analyst at VTB Capital in London, said today in an e-mailed response to questions. Brent probably won’t drop below support at $109 a barrel, he said.

Brent for April settlement on the London-based ICE Futures Europe exchange declined as much as 83 cents to $110.02 a barrel and was at $110.12 a barrel as of 9:37 a.m. London time.

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03.11.2013
In-Print - Another layer of security from Tullis Russell

Earlier this year we launched In-Print, an innovative new security feature, via Canada Post. Now we'd like to share it with you and offer you the chance to use it too.

As a new security feature, In-Print can work beyond postage stamps and can also be used in a range of product labels.

It can be offered as an authentication feature and also has the capability to be used for brand identity markets, providing consumers with peace of mind that the product is genuine.

Key Benefits
Print layer is locked into the substrate
Simple, practical and cost effective way of verification
Can be combined with other security features
Coating designed to support printed security features
Reassures the customer that the product is genuine

Key features
Print under adhesive: Reveal a print under the adhesive when a stamp or label is removed
Print under silicone: Reveal a print on the release liner when a stamp or label is removed
UV reactive print under coating: Print remains invisible until placed under UV light
Manufactured to ISO 9001 standard
Suitable for Digital print methods
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03.11.2013
Orient Paper, Inc. Reports Fourth Quarter and Full Year 2012 Preliminary Results

Orient Paper, Inc., a leading manufacturer and distributor of diversified paper products in North China, today announced preliminary unaudited financial results for the fourth quarter and full year 2012 ended December 31, 2012.

As the Company has entered into negotiations for a potential sale of the land and buildings of its headquarters compound, the full audited financial results and annual report Form 10-K will be filed on or before March 18 2013, which is the deadline for submission to the Securities and Exchange Commission. The outcome of this negotiation is not expected to have a material impact on the Company's fourth quarter and full year 2012 results.

Key Highlights for Fourth Quarter 2012:
•Revenues up driven by accelerating ramp-up of new 360,000 tonne-per-year Corrugating Medium Paper line ("CMP") with sales volume up by 153.6% YoY
•Profitability affected by continuing weak product prices and a $2.8 million, one-time impairment loss due to the planned renewal of its legacy line to reinforce cost-leadership position in North China
•Excluding the non-cash charge related to the impairment loss, non-GAAP operating income was $5.7 million, and non-GAAP net income was $4.7 million.
•Progress in tissue paper business expansion to capture higher value and high growth market

Key Highlights for Full Year 2012:
•CMP sales volume rose by 135.3% YoY to 254,500 tonnes, of which 69.1% were from the new production line launched in December 2011
•Excluding the non-cash charge related to the impairment loss, non-GAAP operating income was $23.6 million, and non-GAAP net income was $17.3 million.
•Cash position significantly improved to $13 million supported by strong cash flow from operations
•Board implemented regular dividend payout after its first quarterly cash dividend of $0.0125 per share in the second quarter of 2012.

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03.11.2013
Jeesr Industries Starts Up New Tissue Production Line in Morocco

Jeesr Industries on November 19, 2012 started up the first state-of-the-art tissue machine in Morocco at its facility in Berrechid, close to Casablanca.

Metso supplied the new machine and said the Advantage DCT 100+ line came on stream smoothly and has been producing high quality paper from the start.

“This investment is very important to us and we are of course pleased to see that the machine is operating according to our targets and that Metso have fulfilled our expectations,” said Souheil Badaa, Chief Marketing Officer, Novatis Group.

Metso’s delivery included a complete production line with stock preparation equipment, an Advantage DCT 100+ tissue machine and a rewinder and wrapping equipment.

The delivery also included an extensive automation package including Metso DNA machine, process and integrated drive controls, and a Metso IQ quality control system with Metso IQ Fiber Weight Measurement.

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03.11.2013
Newspapers Remain Top Sports Source For Men

Between social media, mobile and cable TV, sports news outlets have been proliferating -- but newspapers are still the top source for sports news for sports fans. Among male sports fans ages 18-54, 76% cited the sports section of their local newspaper Web site as one of their “go-to” sources for sports news, while 69% cited the print edition.

That compares with 66% for ESPN.com, 46% for league sites, 45% for Yahoo Sports.com, and 45% for ESPN Sports Center. Further down the list, 33% said sports talk radio and 23% said Sports Illustrated or SI.com.

The finds are from a survey by M/A/R/C for the Newspaper National Network. The poll of 716 men ages 18-54, including in-depth interviews with 404, found that this key audience demo prefers both print and online newspapers to any other source for sports content.

Even more striking, men ages 18-54 who didn’t classify themselves as regular newspaper readers still cited newspaper Web sites as their top source of sports news.

Overall, 75% of non-regular readers cited newspaper Web sites as a go-to source, compared to 71% for ESPN.com, 40% for Yahoo Sports.com, and 38% for ESPN Sports Center. Sports talk radio trailed at 27%, and Sports Illustrated and SI.com came in at 16% and 13% among non-regular readers.

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03.11.2013
Bertelsmann Welcomes Clearance of Penguin Random House by ACCC in Australia

The ACCC in Australia will approve the planned combination of Random House and Penguin Group, the book-publishing operations of the two international media companies Bertelsmann and Pearson, without any restrictions. This was announced today by the competent authorities. Bertelsmann and Pearson welcome this ruling as an important step on the path towards completing the planned transaction. They had announced the founding of Penguin Random House last October.

On February 14, 2013 the U.S. Department of Justice had already cleared the planned merger – also without restrictions. Meanwhile, the planned transaction is being reviewed by several other antitrust authorities in different parts of the world. Bertelsmann and Pearson can finalize the transaction as soon as all the necessary approvals have been received. The two companies are confident of receiving these approvals over the course of the year.

The planned publishing house, in which Bertelsmann will own 53 percent and Pearson 47 percent of shares, will encompass all of Random House and Penguin Group’s publishing units in the U.S., Canada, the U.K., Australia, New Zealand, India and South Africa, as well as Penguin’s operations in China and Random House’s publishers in Spain and Latin America.

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03.08.2013
John Wiley & Sons, Inc., Reports Third Quarter Fiscal Year 2013 Results

John Wiley & Sons, Inc., a global provider of knowledge and knowledge-based services in areas of scientific, technical, medical, and scholarly research (STMS); professional development (PD); and education today announced results for the third quarter of fiscal year 2013:

Adjusted:
Revenue grew 6% to $461 million excluding divested consumer publishing programs and including acquisitions. Revenue grew 1% excluding both the divested and acquired assets. Digital revenue growth in Professional Development and Global Education was offset by continued softness in print books and lower STMS journal revenue, as expected

Adjusted revenue change by segment, excluding FX and divested consumer publishing revenue: STMS -3%, PD +14%, and Education +18%

As noted in its December second quarter earnings announcement, Wiley announced an expansion of its ongoing program to restructure and realign its cost base with current and anticipated future market conditions. When implemented, the plan will reduce operating expense and the cost of sales to improve margins, profitability and accelerate earnings growth while providing increased capacity for investment to grow its digital businesses. Working with a third-party restructuring firm since January, the Company is progressing towards finalizing plans to realize approximately $80 million in cost savings on a run-rate basis by the end of April 2014. The Company is targeting a majority of the cost savings achieved to improve margins and earnings, while some will be reinvested in high growth digital business opportunities.

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03.08.2013
Rite Aid Reports Same Store Sales for February

Rite Aid Corporation today announced sales results for February.

For the five weeks ended March 2, 2013, same store sales decreased 3.6 percent over the prior-year period. February front-end same store sales decreased 1.3 percent while February front-end same store sales attributable to flu-related over-the-counter products were flat. Pharmacy same store sales, which included an approximate 695 basis points negative impact from new generic introductions, decreased 4.7 percent. Prescription count at comparable stores increased 0.3 percent over the prior-year period. This number includes a decrease of 0.1 percent attributable to flu-related prescriptions and flu shots.

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03.08.2013
Gap Inc. Reports February Sales

Gap Inc. today reported that February 2013 net sales increased 11 percent compared with last year.

Net sales for the four-week period ended March 2, 2013 were $966 million compared with net sales of $874 million for the four-week period ended February 25, 2012. Due to the 53rd week in fiscal year 2012, February 2013 comparable sales are compared to the four-week period ended March 3, 2012. On this basis, the company’s comparable sales for February 2013 were up 3 percent compared with a 4 percent increase for February 2012.

"Building on our successful 2012 performance, we’re pleased with the company’s overall sales results in February," said Glenn Murphy, chairman and chief executive officer of Gap Inc.

Comparable sales by global brand for February 2013 were as follows:
•Gap Global: positive 2 percent versus negative 2 percent last year
•Banana Republic Global: negative 5 percent versus positive 11 percent last year
•Old Navy Global: positive 6 percent versus positive 5 percent last year

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03.08.2013
Intertape Polymer Group Reports Improved 2012 Fourth Quarter and Annual Results

Intertape Polymer Group Inc. today released results for the fourth quarter and year ended December 31, 2012. All dollar amounts are US denominated unless otherwise indicated.

Revenue for the year ended December 31, 2012 decreased 0.3% to $784.4 million compared to $786.7 million in 2011. After adjusting for the closure of the Brantford facility in the second quarter of 2011, revenue increased 0.3% in 2012 from $781.7 million in 2011. The adjusted selling prices, including the impact of product mix, increased approximately 3% partially offset by the adjusted sales volume decrease of approximately 3%. An improved pricing environment that began in 2011 as well as the reduction in sales of low-margin products were the primary reasons for the increase in selling prices including the impact of product mix. The decrease in sales volume was primarily due to the progress the Company made toward reducing sales of low-margin products partially offset by an increase in sales of new products.

Fourth quarter revenue increased 3.4% to $189.3 million, compared to $183.0 million in 2011 and decreased 4.6% sequentially from $198.5 million for the third quarter of 2012.

Sales volume for the fourth quarter of 2012 increased approximately 6% compared to the fourth quarter of 2011 primarily due to increased demand for tape products. The decrease in the sales volume of approximately 3% when compared to the third quarter of 2012 largely reflects normal seasonality.

Selling prices, including the impact of product mix, decreased approximately 3% in the fourth quarter of 2012 compared to the fourth quarter of 2011 primarily due to a shift in the mix of products sold. When compared to the third quarter of 2012, selling prices, including the impact of product mix, decreased by approximately 2% primarily due to a shift in the mix of products sold.

Gross profit totalled $141.0 million for 2012, an increase of 23.2% from 2011. Gross margin was 18.0% in 2012 and 14.6% in 2011. The increase in gross profit in 2012 compared to 2011 was primarily due to an improved pricing environment, manufacturing cost reductions, increase in sales of higher margin products and the closure of the Brantford, Ontario manufacturing facility in 2011 partially offset by lower sales volumes. The increase in gross margin in 2012 compared to 2011 was primarily due to manufacturing cost reductions, an increase in sales of higher margin products, an improved pricing environment and the progress made toward reducing sales of low-margin products.

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03.08.2013
Wood Fiber Costs for Pulp Mills Fell in North America and Latin America in 4Q 2012

Wood fiber prices trended downward in the local currencies in many of the key pulp-producing countries of the world in the fourth quarter of 2012, according to the report Wood Resource Quarterly (WRQ).

However, as a result of the weakening US dollar, wood fiber prices actually increased in US dollar terms in a number countries and the Softwood Wood Fiber Price Index (SFPI) was up slightly (+0.1%) in the 4Q/12 to $100.13/odmt. The biggest increases from the 3Q to the 4Q occurred in Eastern Canada, Finland, France and New Zealand, WRQ added.

The price declines in the local currencies were mainly the result of an increased supply of softwood fiber in regions with extensive lumber production. In the US Northwest, chip prices fell as much as 27 percent during 2012 and pulp mills in the region had some of the lowest softwood fiber costs in the world in the 4Q/12.

Additional volumes of residual chips from increased lumber production, reductions in pulp production and pulpmill outages, and large supplies of pulplogs were all factors that contributed to the dramatic turnaround in fiber costs during 2012. A similar trend was seen in Western Canada, where prices in the 4Q/12 were down 22 percent from late 2011, reaching their lowest levels in three years.

Hardwood fiber price movements were mixed, with hardwood pulplog prices generally trending downward in many of the key hardwood pulp-producing regions in both local currencies and in US dollar terms. This resulted in a decline in the Hardwood Wood Fiber Price Index (HFPI) to US$104.80/odmt in the 4Q/12. This was down 1.5 percent from the previous quarter and 7.8 percent from the 4Q/11.

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