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

11.10.2011

Baker Publishing to Sell on Espresso Book Machine

After a flurry of announcements in recent weeks that both HarperCollins and O’Reilly Media have signed with On Demand Books to make their books available on the company’s Espresso Book Machine, ODB announced its first major Christian publisher contract with Baker Publishing Group. Under the agreement Baker will make substantially all of its entire paperback list available through the EBM network.

“We believe the Espresso Book Machine in a local bookstore offers the book-reading customer the best overall access to printed books at the time they are in store and ready to purchase a title,” says Baker executive v-p of sales and marketing David Lewis, adding that the EBM gives independents a better chance to survive. “It allows a local bookseller to compete on selection with online retailers.”

In June, ODB signed a joint marketing agreement with the Association for Christian Retail to encourage Christian publishers to make their books available on the EBM. ODM also showcased the book machine at the International Christian Retail Show in July.

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11.10.2011

Quad/Graphics Reports Third Quarter 2011 Results

Quad/Graphics, Inc., today reported results for its third quarter ending September 30, 2011, and declared a cash dividend of $0.20 per share, payable on December 10, 2011, to shareholders of record as of November 30, 2011. The results reported below include the Company's Canadian operations, which are in the process of being sold, unless otherwise noted.

Third quarter 2011 net sales were $1,186 million versus $1,209 million for the same period in 2010. The results reflect moderate declines in volume primarily due to macroeconomic pressures, including continuing industry softness in the book market, and an aggressive pricing environment. Adjusted EBITDA for the third quarter was $173.6 million versus $159.2 million in the same period in 2010. The increase in Adjusted EBITDA was mostly attributable to Worldcolor transaction synergy savings and lower incentive compensation. Adjusted EBITDA was adversely affected by volume and pricing pressures, as well as temporary productivity declines associated with transitioning work from plants being consolidated as part of the Worldcolor integration.

"The volume declines we began to see late in the second quarter accelerated during the third quarter, and included continued weakness in the book market," said Joel Quadracci, Chairman, President & CEO. "This, along with temporary productivity declines and ongoing competitive pricing pressures, resulted in Adjusted EBITDA below what we had anticipated for the quarter. Given this environment, we remain focused on performing well for our customers, improving productivity and aggressively managing costs to produce results that drive shareholder value."

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11.10.2011

All generations prefer paper to digital media when it comes to reading, new European research reveals

In a wide-ranging new survey, a new generation of digital natives show strong preferences for paper; still the favoured medium of all age groups for reading and safe keeping of documents. The research conducted by IPSOS, in association with industry organisations Two Sides and Print Power, interviewed 4,500 European consumers who declared their preference for paper based media in a digital world.

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11.10.2011

The Yankee Candle Company, Inc. Reports Fiscal 2011 Third Quarter Results

Yankee Holding Corp. and The Yankee Candle Company, Inc. today announced financial results for the third quarter ended October 1, 2011. Yankee Holding Corp., a direct subsidiary of YCC Holdings LLC, is a holding company formed in connection with the Company's Merger with an affiliate of Madison Dearborn Partners, LLC on February 6, 2007 (the "Merger"), and is the parent company of The Yankee Candle Company, Inc.

Sales for the third quarter of 2011 were $195.1 million, a $19.4 million or 11.0% increase from the prior year third quarter. Retail sales were $84.9 million, an increase of $5.3 million or 6.6% from the prior year quarter. Sales in the Company's Wholesale segment were $83.2 million, an increase of $7.0 million or 9.2% versus the prior year third quarter. Sales in the Company's International segment, which is being reported as a separate business segment beginning in 2011 after previously having been included in the Wholesale segment, were $27.0 million, an increase of $7.1 million or 35.6% from the third quarter of fiscal 2010. The Company recorded net income of $12.5 million for the third quarter of 2011 compared to net income of $8.8 million for the third quarter of 2010.

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11.10.2011

RDA Holding Co. Announces Results for the Third Quarter Ended September 30, 2011

RDA Holding Co., parent company of The Reader's Digest Association, Inc., the global multi-brand and multi-platform media and direct marketing company, announced today its financial results for the three-month period ended September 30, 2011.

Revenue increased 4.4% from the 2010 quarter to $357.0 million. On a constant currency basis and excluding the effects of fair value adjustments, revenue declined 4.7% primarily due to a significant decline in our Lifestyle & Entertainment Direct segment (LED), declining advertising in our recently sold Every Day with Rachael Ray (EDWRR) title, and declining renewals on certain titles within our North America segment. This was primarily offset by increased book revenue in our North America segment as well as increased offerings and targeted promotion efforts in our major European markets and our Humana partnership, which we entered into earlier this year.

Net loss improved to a loss of $76.8 million compared to a loss of $86.8 million for the 2010 period, primarily due to the combined effects of modestly higher product sales in our North America segment, as well as lower impairment charges and lower fair value adjustments. These improvements were offset by a significant decline in our LED segment, declining advertising in the EDWRR title, declining renewals on certain titles within our North America segment, and the effects of foreign exchange translation.

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11.10.2011

Kohl's Corporation Reports Third Quarter Financial Results

Kohl's Corporation today reported results for the fiscal period ended October 29, 2011.

Kohl's Corporation reported third quarter diluted earnings per share increased 40 percent to $0.80. Net income for the quarter increased 20 percent to $211 million, compared to $176 million ($0.57 per diluted share) a year ago. Net sales were $4.4 billion, an increase of 3.8 percent over the comparable prior year quarter. Comparable store sales for the quarter increased 2.1 percent.

On a year-to-date basis, diluted earnings per share increased 26 percent to $2.56. Net income was $711 million, compared with $626 million ($2.03 per diluted share) for the first nine months of fiscal 2010. Net sales were $12.8 billion, an increase of 3.5 percent. Year-to-date comparable store sales increased 1.7 percent.

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11.10.2011

Cenveo Announces Third Quarter 2011 Results

Cenveo, Inc. today announced results for the three and nine months ended October 1, 2011.
For the three months ended October 1, 2011, net sales increased approximately 10.0% to $500.6 million, compared to $455.1 million for the three months ended October 2, 2010, primarily due to the acquisition of MeadWestvaco Corporation's Envelope Product Group ("EPG"), which closed in February, and growth from the Company's direct envelope group, which benefited from strong direct mail volumes. For the nine months ended October 1, 2011, net sales increased approximately 10.7% to $1.50 billion, compared to $1.35 billion for the nine months ended October 2, 2010. This increase was driven by the acquisition of EPG and organic growth in the Company's direct envelope, custom label, content management, and specialty packaging product lines.

The Company generated operating income of $35.7 million for the three months ended October 1, 2011, compared to an operating loss of $156.1 million for the three months ended October 2, 2010. This increase was a result of lower restructuring and impairment charges, a lower operating cost structure than prior year and contributions from the EPG acquisition. Non-GAAP operating income increased 12.0% to $44.3 million for the three months ended October 1, 2011, compared to $39.5 million for the three months ended October 2, 2010. For the nine months ended October 1, 2011, the Company generated operating income of $87.2 million, compared to an operating loss of $124.6 million for the nine months ended October 2, 2010. This increase was a result of lower restructuring and impairment charges, a lower operating cost structure than prior year and contributions from the EPG acquisition. For the nine months ended October 1, 2011, non-GAAP operating income increased 11.5% to $119.4 mi llion, compared to $107.1 million for the nine months ended October 2, 2010. Non-GAAP operating income excludes integration, acquisition and other charges, stock-based compensation provision, restructuring and impairment charges and divested operations or assets held for sale. A reconciliation of operating income to non-GAAP operating income is presented in the attached tables.

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11.10.2011

RockTenn Reports Results for the Fourth Quarter of Fiscal 2011

RockTenn today reported earnings for the quarter ended September 30, 2011 of $1.17 per diluted share and adjusted earnings of $1.70 per diluted share.

Net sales of $2,463.5 million for the fourth quarter of fiscal 2011 increased $1,656.7 million over the fourth quarter of fiscal 2010, primarily as a result of the full quarter impact of the May 27, 2011, Smurfit-Stone acquisition.

Segment income, adjusted to eliminate $4.0 million of pre-tax acquisition inventory step-up was $241.0 million, up 81.9% over the prior year quarter, primarily as a result of the Smurfit-Stone acquisition.

RockTenn's restructuring and other costs and operating losses and transition costs due to plant closures, net of related noncontrolling interest were $0.35 per diluted share after-tax, for the fourth quarter of fiscal 2011. These costs consisted primarily of $18.0 million of pre-tax facility closure charges primarily related to former Smurfit-Stone corrugated container plants, $8.7 million of pre-tax integration costs that primarily consisted of severance and other employee costs and professional services, $4.0 million of pre-tax acquisition costs, $3.3 million pre-tax operating losses and transition costs in connection with consolidating converting facilities and a charge of $3.3 million for tax adjustments related primarily to non-deductible acquisition costs.

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11.09.2011

Multi-Color Corporation Announces Results for Second Quarter of Fiscal Year 2012

Multi-Color Corporation today announced second quarter increases in net revenues and gross profit.

Net revenues increased 13% to $102.6 million from $90.6 million compared to the three months ended September 30, 2010. Net revenues increased 10% or $9 million in the three months ending September 30, 2011 due to acquisitions and start-ups that occurred after September 30, 2010. The remaining increase was due to a 5% favorable impact of foreign exchange rates primarily driven by the strengthening Australian dollar and Euro partially offset by a 2% decline in sales volumes.

Gross profit increased $2.7 million or 14% compared to the three months ended September 30, 2010. Adjusted for special items in the prior year quarter, gross profit increased $2.2 million or 12%. Acquisitions and start-ups occurring after September 30, 2010 contributed 5% to the adjusted gross profit increase. The remaining 7% increase was due to the impact of favorable foreign exchange rates and improved operating efficiencies. Gross margins, adjusted for special items, were 21% of sales revenues for the three months ended September 30, 2011 and 2010.

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11.09.2011

Macy's, Inc. Reports Third Quarter Earnings of 32 Cents Per Diluted Share

Macy's, Inc. today reported strong third quarter earnings that reflect ongoing sales growth and success in implementing the company's key business strategies. Earnings were 32 cents per diluted share for the third quarter of 2011, ended Oct. 29, 2011. This compares with earnings of 2 cents per diluted share in last year's third quarter, or 8 cents per diluted share in last year's third quarter excluding expenses of 6 cents per share associated with the repurchase of debt.

Sales in the third quarter totaled $5.853 billion, up 4.1 percent from total sales of $5.623 billion in the third quarter of 2010. On a same-store basis, Macy's, Inc.'s third quarter sales were up 4.0 percent.

For the year to date, Macy's, Inc. sales totaled $17.681 billion, up 5.7 percent from total sales of $16.734 billion in the first 39 weeks of 2010. On a same-store basis, Macy's, Inc.'s year-to-date sales were up 5.3 percent.

Online sales (macys.com and bloomingdales.com combined) were up 39.8 percent in the third quarter and 39.4 percent year to date, compared with the same periods in 2010. Online sales positively affected the company's same-store sales by 1.5 percentage points in the third quarter and 1.4 percentage points in the year to date. Online sales are included in the same-store sales calculation for Macy's, Inc.

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11.09.2011

Neenah Paper Reports 2011 Third Quarter Results

Neenah Paper, Inc. today reported a 40 percent increase in earnings per diluted common share, with $0.42 in the third quarter of 2011 compared to $0.30 in the third quarter of 2010.

Net sales of $174.9 million in the third quarter of 2011 rose eight percent compared to the third quarter of 2010, while consolidated operating income increased seven percent, growing to $12.5 million in the current quarter from $11.7 million in the third quarter of 2010.

Technical Products net sales of $107.1 million in the third quarter of 2011 increased 13 percent compared to $94.8 million in the third quarter of 2010. Volumes increased four percent, led by growth in filtration, tape and wall cover. Average selling prices were up two percent, reflecting price increases implemented over the past year and sales of more advanced, higher value products. The remaining sales growth was due to currency impacts from a stronger Euro.

Fine Paper third quarter 2011 net sales of $67.8 million grew two percent compared to $66.7 million in 2010. A four percent decline in volume, reflecting continued weak market conditions, was more than offset by a six percent gain in average selling prices. Higher average prices reflected benefits from sales growth in higher value products, as well as price increases implemented over the past year. Volumes in targeted growth areas such as labels, luxury packaging and international markets increased by more than six percent in the quarter.

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11.09.2011

1.38 million books given to reception-aged children from Booktime

New research[iii] published today (9 November 2011) reveals that 98% of primary school teachers are concerned that not enough reading for pleasure is taking place in some of the nation’s homes and that this is having an impact on the time pupils spend reading and talking about books in school.

As part of the research, which has been commissioned by Booktime, the national free books programme for reception-aged pupils in England, over 1,000 parents and carers along with 200 primary school teachers participated in the study to explore the modern realities of children’s reading habits.

Teachers said that they could see a clear difference between those children who are read with at home and those who are not: 72% of teachers attributed developed language skills and more advanced reading levels to those children who regularly enjoy shared book time with a parent/carers in the home, 30% of teachers found that these pupils also tend to be the first to answer questions in class/first with their hand up and 23% of teachers believe that children who are read with at home are better behaved children in class.

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11.09.2011

Adobe Reaffirms Fourth Quarter FY2011 Revenue Target, Restructures to Align Business around Digital Media, Digital Marketing

Adobe Systems Incorporated (Nasdaq:ADBE) today provided a business update for its fourth quarter fiscal year 2011, ending Dec. 2, 2011. The company also announced plans to further align its business around the explosive growth categories of Digital Media and Digital Marketing solutions.

Adobe is investing aggressively in Digital Media and Digital Marketing, two growing market areas. In Digital Media, the company is the industry leader in content authoring solutions, enabling customers to create, distribute and monetize digital content. In Digital Marketing, the company intends to be the leader in solutions to manage, measure and optimize digital marketing and advertising.

In order to better align resources around Digital Media and Digital Marketing, Adobe is restructuring its business. This will result in the elimination of approximately 750 full-time positions primarily in North America and Europe. We expect to record in the aggregate approximately $87 million to $94 million in pre-tax restructuring charges. Included in these charges are (i) approximately $17 million to $19 million primarily related to the consolidation of leased facilities and (ii) approximately $70 million to $75 million related to employee severance arrangements. We expect to record approximately $73 million to $78 million of these charges in the fiscal quarter ending Dec. 2, 2011.

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11.09.2011

Crude Oil Declines on Concern Italy’s Turmoil May Derail European Economy

Oil declined for the first time in six days in New York after political turmoil in Italy revived concern that Europe’s debt crisis may continue to spread.

Futures fell as much as 1.9 percent after reaching their highest price in more than three months. European equities declined as the cost of insuring against Italian default rose to a record. The euro sank 1 percent against the dollar, reducing the appeal of commodities priced in the U.S. currency.

“Further deterioration of the euro-zone crisis has shifted its focus from Greece to Italy, an economy too big to be bailed out,” said James Zhang, a strategist at Standard Bank Plc in London. “It has spurred a general ‘risk off’ in the market.”

Crude for December delivery dropped as much as $1.79 to $95.01 a barrel in electronic trading on the New York Mercantile Exchange and was at $95.26 at 11:37 a.m. London time. The contract earlier advanced to $97.32, the highest since Aug. 1.

Brent oil for December settlement on the ICE Futures Europe exchange in London was down 1.7 percent at $113.10 a barrel, reversing a gain of 0.7 percent to $115.75 a barrel. The European benchmark was at a premium of $18.40 to New York crude, compared with a record settlement of $27.88 on Oct. 14.

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11.09.2011

Interfor’s Q3 Results Improve on Higher Sales Revenue

INTERNATIONAL FOREST PRODUCTS LIMITED reported net income of $6,000 or $0.00 per share in the third quarter of 2011. Included in the Company's accounts in the quarter was the effect of unrecognized tax assets of $0.6 million and other one-time items of $1.1 million.

Excluding these items, Interfor recorded a net loss of $0.5 million or $0.01 per share compared to a net loss of $2.9 million or $0.05 per share in the immediately preceding quarter and a loss of $1.1 million or $0.02 per share in the third quarter of 2010.

Also included in the Company's accounts in the third quarter was a recovery of share-based compensation expense of $0.9 million or $0.02 per share compared to a recovery of $3.1 million or $0.06 per in the second quarter.

Sales revenue in the third quarter was $200.2 million, up $12.0 million or 6.4% versus the second quarter, resulting from higher log and lumber sales volumes and prices.

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11.09.2011

International Paper Prices $1.5 Billion of Senior Unsecured Notes

International Paper today announced that it has priced $900 million of 4.75% senior unsecured notes due 2022 and $600 million of 6.00% senior unsecured notes due 2041. The offering was made pursuant to an effective shelf registration statement.

International Paper intends to use the net proceeds from the sale of the notes, together with other committed debt financing and available cash, to finance its proposed acquisition of Temple-Inland Inc., which is expected to close in the fourth quarter of 2011 or the first quarter of 2012, subject to customary closing conditions.

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11.09.2011

Statement on Proceeding with Exigent Pricing Relief

As a result of the Postal Regulatory Commission’s (PRC) Oct. 31 order denying a motion by the Postal Service to “stay” its request for exigent price relief until Dec. 15, 2011, the Postal Service today informed the Commission that it will continue to proceed with the case. If legislation passes that promotes the Postal Service's financial stability, the Postal Service will review its position and may choose to withdraw the case if warranted.

The Postal Act of 2006 capped price increases for Mailing Services products and services at the rate of inflation as measured by the Consumer Price Index (CPI). However, the law does allow for increases beyond the CPI cap due to exceptional or extraordinary circumstances. That was the case in July 2010 when the Postal Service filed for an increase above CPI, citing the exceptional circumstances of significant mail volume losses. The Postal Service financial crisis has worsened since then.

While legislation continues to be introduced to address critical Postal Service issues, the uncertainty over Congressional action leaves the Postal Service little choice but to proceed with the case for now.

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11.09.2011

Opposition To USPS Pursuing Exigent Rate Case

The U.S. Postal Service’s decision to pursue an exigent rate increase after the Postal Regulatory Commission denied a motion by the USPS to “stay” its request for exigent price relief until Dec. 15, 2011 has sparked opposition to the USPS’s stance.

The Postal Service really only has two issues, says Larry Davis, vice president of marketing for gifts merchant Ross-Simons.

“Not enough revenue and costs that are too high,” he says. “Other than that, they have a great product. And quite honestly, they aren’t going to fix either of these two issues by appealing their rate case.”

The USPS seems to moving in the right direction to fix its cost problems, Davis adds. “It needs Congress to unshackle them from a legacy footprint, unwieldy labor contracts and a health-care pre-funding requirement that would sink most of the Eurozone. Their recent efforts on costs are to be applauded.”

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11.08.2011

Urban Outfitters, Inc. Provides Third Quarter Sales Update

Urban Outfitters, Inc., a leading lifestyle specialty retail company operating under the Anthropologie, Free People, BHLDN, Terrain and Urban Outfitters brands today provided an update on sales for the three months ended October 31, 2011.

For the third quarter of fiscal 2012, total company net sales increased 6% over the same quarter last year to $610 million. Comparable retail segment net sales, which include the direct-to-consumer channels, decreased 3% for the quarter, while comparable store net sales decreased 7% for the quarter. Comparable retail segment net sales at Free People increased 14%, were flat at Urban Outfitters, and decreased 7% at Anthropologie. Direct-to-consumer comparable net sales increased 15% and wholesale segment net sales rose 13% for the quarter.

During the three months ended October 31, 2011, the Company opened seven new Urban Outfitters stores, four new Anthropologie stores, four new Free People stores and one BHLDN store.

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11.08.2011

Appleton Reports Third Quarter 2011 Results

Appleton’s third quarter 2011 net sales of $217.1 million increased 1.0% compared to third quarter 2010. Net sales for Encapsys, the company’s microencapsulation business, were slightly higher than last year on a 3% increase in volume. In the paper business, favorable pricing and mix offset a 5% decrease in volume. Meanwhile, Appleton used $23.2 million from a litigation settlement to reduce net debt to its lowest level since 2007.

Appleton’s third quarter 2011 operating income was $11.2 million compared to operating income of $13.1 million during third quarter 2010. Third quarter 2011 operating income was reduced by $2.1 million of expense associated with a biennial maintenance shutdown at the West Carrollton, Ohio paper mill. The thermal papers segment increased its contribution to operating income by $2.6 million during the period. Encapsys contributed a $0.6 million increase, while operating income for the carbonless papers segment decreased by $4.2 million compared to third quarter 2010.

Appleton’s net sales for the first nine months of 2011 were $651.7 million; an increase of 0.9% compared to the first nine months of 2010. Year-to-date, 2011 operating income increased to $32.2 million compared to operating income of $28.3 million for the same period last year. Operating income for the first nine months of 2011 includes $2.1 million of expense associated with the biennial shutdown at West Carrollton and a $3.1 million charge for a litigation settlement while operating income for the first nine months of 2010 included an environmental expense insurance recovery of $8.2 million. Excluding these items, year-over-year operating income is up $17.3 million.

Despite volume shortfalls in the paper business and higher prices for raw materials, Appleton achieved improved results due to better product pricing and mix as well as cost reduction efforts.

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11.08.2011

Oil Trades Near a Three-Month High on U.S. Supply, European Crisis Outlook

Oil rose to the highest price in more than three months in New York on signs of shrinking stockpiles in the U.S. and amid speculation European leaders will make progress in containing the region’s debt crisis.

Futures advanced for a fifth day, gaining as much as 1.1 percent. Crude supplies at Cushing, Oklahoma, fell 4.4 percent in the first three days of the month, data from DigitalGlobe Inc. showed. Prices also gained amid speculation Iran’s nuclear plans may threaten Middle East stability. Greek Prime Minister George Papandreou will resume talks today on forming a government, while Italy’s Silvio Berlusconi faces a vote that will determine if he has the support to stay in power.

“Italy is too big to save, and too big to fail, so whatever happens there will have an impact on sentiment across the board,” said Ole Hansen, senior manager of trading advisory at Saxo Bank A/S in Copenhagen. “Until we have additional news out of Italy on the economic side, it seems technically driven, and also with worries on the supply side.”

Crude for December delivery on the New York Mercantile Exchange rose as much as $1.08 to $96.60 a barrel, the highest price since Aug. 1, and was at $96.35 at 11:40 a.m. London time. Yesterday, the contract advanced $1.26, or 1.3 percent, to $95.52, the highest settlement since July 29. Prices have gained 5.4 percent this year.

Brent oil for December settlement on the London-based ICE Futures Europe exchange was up $1.44 at $116 a barrel. The premium of the European contract to New York crude increased 3.2 percent to $19.65 a barrel, after widening 7.5 percent yesterday, the most since Sept. 30. The spread settled at a record-high $27.88 on Oct. 14.

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11.08.2011

ABC, Adobe team up to add new digital audience measurement capabilities

ABC Interactive, the digital arm of the Audit Bureau of Circulations, has announced it is working with Adobe Systems to make it easier for newspaper and magazine publishers to report audited website, mobile app and digital publication data.

ABCi is working with Adobe to accredit the company's AudienceResearch, a new digital audience measurement tool that helps tabulate online usage metrics via Adobe SiteCatalyst, an analytics application. The goal is to help publishers add more digital audience data to ABC's Consolidate Media Reports.

“Working with trusted industry organizations like ABC, the Adobe AudienceResearch tool—initially measuring metrics from websites, mobile applications and digital magazine editions—is our first step towards delivering a comprehensive digital audience report,” said Aseem Chandra, VP-product marketing at Adobe's digital marketing business, in a statement.

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11.08.2011

Barnes & Noble campaign for Nook tablet to be company's largest

Barnes & Noble will launch a campaign on Nov. 14 to promote the Nook tablet that will be the “largest campaign in Barnes & Noble history,” Barnes & Noble CEO William Lynch said on Nov. 7 during a company event in New York.

The campaign will include TV, print and online components. Ads will feature best-selling authors and celebrities such as Jane Lynch, James Patterson and Danielle Steel.

Via the Nook tablet, consumers will be able to access digital media content such as e-books, interactive magazines, streaming video from Netflix and Hulu Plus and streaming audio from Pandora.

The 7-inch Nook Tablet will hit stores at “the end of next week” for $249, said Lynch. He said members of Barnes & Noble's loyalty program will receive a $25 discount for the Nook Tablet and Nook Color and a $10 discount for the Nook Simple Touch.

“This year the Nook business will be $1.8 billion in revenue,” he said.

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11.08.2011

Fortress Paper Announces Third Quarter 2011 Results

Fortress Paper Ltd. reported 2011 third quarter EBITDA loss of $0.8 million on sales of $84.0 million. For the second quarter of 2011 EBITDA was $4.6 million on sales of $89.9 million and for the third quarter of 2010 EBITDA was $8.8 million on sales of $87.0 million.

Fortress reported an adjusted net loss of $7.8 million for the third quarter of 2011 or diluted adjusted loss per share of $0.54. In the second quarter of 2011 the Company reported an adjusted net loss of $1.0 million or a diluted adjusted loss per share of $0.07. For the third quarter of 2010 the Company reported adjusted net income of $3.7 million or diluted adjusted earnings per share of $0.28.

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11.08.2011

Heidelberg Publishes Half-Yearly Figures – Program Being Developed to Ensure Earnings Targets Are Achieved

In the first six months of financial year 2011/2012 (April 1 to September 30, 2011), Heidelberger Druckmaschinen AG (Heidelberg) significantly improved its operating result while recording stable sales.

Incoming orders for the first half-year totaled EUR 1.333 billion. After adjustment for exchange rate effects, this was around 5 percent below the high level for the same period the previous year (EUR 1.436 billion), which was influenced by the IPEX and ExpoPrint trade shows. The Heidelberg Group's order backlog at the end of the second quarter amounted to EUR 731 million, which was slightly higher than the previous quarter (EUR 718 million).

Sales for the first six months totaled EUR 1.180 billion (EUR 1.209 billion after adjustment for exchange rate effects), which was on a par with the previous year's level of EUR 1.196 billion.

Over the same period, the operating result excluding special items improved significantly to EUR -21 million (previous year: EUR -41 million). Amounting to EUR 3 million, the special items mainly consisted of personnel-related expenditure. In the previous year, special items yielded an income of EUR 22 million.

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11.08.2011

Lagardere Quarterly Information - Third Quarter 2011

Consolidated revenues came to €5,706m in the first nine months of 2011, up slightly on a like-for-like basis compared to 30 September 2010 (+0.4%) and down on a reported basis (-1.9%).
The difference between reported and like-for-like figures is due mainly to a negative €156m perimeter impact (particularly the sale of the international magazine business (PMI), most of which occurred in mid-2011), which was offset slightly by a positive currency impact (+€20m).

Third-quarter net sales came to €1,982m, up 1.3% on a like-for-like basis (compared with -0.1% in the first half of 2011) and down 5.8% on a reported basis. This difference is due mainly to a perimeter impact linked to the sale of most PMI activities in May and July 2011.

- Lagardère Publishing: net sales of €601m (-5.2% on a reported basis, -2.5% on a like-for-like basis). Solid performances in France in Education and General Literature. Weaker sales in English-speaking countries, due to the impact of e-books (resulting in lower sales but higher margins), as well as more challenging market conditions. When stripping out the Stephenie Meyer phenomenon, net sales would have increased slightly.

- Lagardère Active: net sales rose to €267m (+3.9% on a like-for-like basis), thanks to a solid performance this summer in advertising and ground made up in television production deliveries. When excluding the PMI not sold off, net sales rose by 3.1% on a like-for-like basis and by 2.5% on a reported basis.

- Lagardère Services: sales continued to grow in the third quarter (to €1,011m, up by 7.1% on a reported basis and by 3.1% on a like-for-like basis), driven by Retail activities, particularly in France and at airports.

- Lagardère Unlimited: slight growth in net sales (€103m, or +12% on a reported basis and +0.7% on a like-for-like basis), on the heels of an especially robust first half.

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11.08.2011

Possible sale of Norske Skog Parenco

Norske Skog has reached a stage in negotiations with a potential buyer of the Norske Skog Parenco mill and the recovered paper business of Reparco Group in the Netherlands; whereby, Norske Skog has filed a request with Parenco's and Reparco's work councils for their advice on a proposed sales transaction.

If an agreement with the potential buyer is reached, the mill will be converted out of publication paper after 2012. Norske Skog will provide more information when a transaction is presented to and approved by all the relevant governing bodies of the two parties.

Norske Skog Parenco has a total publication paper capacity of 265 000 tonnes.

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11.08.2011

Cereplast Reports Preliminary Results for the Third Quarter of 2011

Cereplast, Inc., a leading manufacturer of proprietary biobased, compostable and sustainable plastics, reported preliminary results for its third quarter ended September 30, 2011.

"During the third quarter, we made progress executing on our pricing strategy to increase margins and continue to believe we will exit the year with margins at approximately 20%," stated Frederic Scheer, chairman and chief executive officer. "However, due to the impact of the uncertain economic environment in Europe where we currently sell the majority of our products, our receivables balance has grown disproportionately to our sales and is approximately $19.1 million, net of allowances, at September 30th. While European customers generally demand longer payment terms than our North American customers, the recent economic uncertainties in Europe may impact our ability to collect on some customer balances and therefore we have increased our allowance for doubtful accounts to reflect this market risk. Demand for our products in Europe remains strong, however to mitigate further market and credit risk we have implemented more stringent credit policies for new and existing European customers."

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11.08.2011

Disney Publishing Launching Interactive Children’s Printed Magazine

Disney Publishing Worldwide, the world’s largest publisher of children’s books and magazines, is launching FamilyFun Kids, a new, bi-monthly magazine that encourages kids’ creativity with hands-on crafts, skill-building recipes, imaginative games, brainteasers and puzzles. The magazine, geared to 6- to 12-year-olds, is created by the staff of Disney FamilyFun magazine, which millions of moms turn to each month for creative family ideas.

Like its parent magazine, FamilyFun Kids is packed with fun things to read, but is also specifically designed to be a tactile, interactive experience for children with pages they can cut, fold, tear out and decorate.

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11.07.2011

Resolute Forest Products Launches New Identity

Resolute Forest Products, formerly doing business as AbitibiBowater, today began the rollout of its new Company name and identity. When communicating in French, the Company is using the name Produits forestiers Résolu.

"The launch of our new identity, Resolute Forest Products, underscores our forward momentum," stated Richard Garneau, President and Chief Executive Officer. "Our 10,000 employees are united and ready to deliver on Resolute's vision of continued sustainability and profitability."

The Company's new name and associated visual identity now appears on all marketing materials and communications. AbitibiBowater Inc. and its subsidiaries will not change their legal entity names until the Company obtains shareholder approval, as required by law, at its 2012 annual general meeting.

For Resolute's customers, suppliers and other stakeholders little will change beyond how the Company refers to itself. Until the Company obtains shareholder approval to change its legal entity names, the new Company name will not be used on invoices, checks, contracts, product names, Company stocks and stock market listings.

"Resolute is well-positioned for the long term," continued Garneau. "To remain competitive, we must anticipate and respond swiftly to market developments by continuously leveraging operating efficiencies and being opportunistic about investments and realistic when faced with difficult choices."

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11.07.2011

Verso Paper Corp. Reports Third Quarter 2011 Results

Verso Paper Corp. today reported financial results for the third quarter and nine months ended September 30, 2011. Results for the periods ended September 30, 2011 and 2010 include:

Operating income increased 136% to $30.6 million in the third quarter of 2011 from $12.9 million in the third quarter of 2010.
Net sales were $456.8 million in the third quarter of 2011 compared to $432.9 million in the third quarter of 2010.
Adjusted EBITDA before pro forma effects of profitability program was $64.2 million in the third quarter of 2011, compared to $46.0 million in the third quarter of 2010.
Net income before items was $0.8 million in the third quarter of 2011, or $0.01 per diluted share, compared to a net loss before items of $18.6 million, or $0.35 per diluted share in the third quarter of 2010.

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11.07.2011

Oil Falls From Three-Month High on Signs of European Instability

Oil declined in New York, falling from a three-month high as European equity markets declined and the euro weakened against the dollar amid concern that political instability in the region may undermine demand.

Futures dropped as much as 1.1 percent amid speculation that Italian Prime Minister Silvio Berlusconi will struggle to keep a majority, after Greek Prime Minister George Papandreou agreed to step down. The Stoxx Europe 600 index fell as much as 1.8 percent. The dollar gained 0.8 percent against the euro, reducing the appeal of commodities priced in the U.S. currency.

“The worry is about global activity levels going forward if the crisis spreads to Italy,” said Ole Hansen, senior manager of trading advisory at Saxo Bank A/S in Copenhagen, said by phone. “People are getting really worried about whether the Italians can put through the reforms that are needed” to help keep European economies from sliding into recession. He expects crude to trade in a range from $89.50 to $95 a barrel this week.

Oil for December delivery was down 95 cents, or 1 percent, at $93.31 a barrel in electronic trading on the New York Mercantile Exchange at 10:17 a.m. London time, after rising as high as $94.96, the highest price since Aug. 2.

Crude in New York gained for a fifth week in the five trading days ended Nov. 4, the longest rising streak since the period ended April 3, 2009. Prices are up 2.3 percent this year.

Brent crude for December settlement was down 47 cents at $111.50 a barrel. The European benchmark contract was at a premium of $18.08 to New York crude, compared with $17.71 on Nov. 4 and a record settlement of $27.88 on Oct. 14.

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11.07.2011

FSC makes changes to align its standards with government legality efforts

In October 2010, the European Union adopted a regulation to prevent sales of illegal timber and timber-products on the EU internal market. The regulation covers a wide range of timber products, including plywood, veneer, particle board, furniture and others, but exempts printed media.

The EUTR will affect thousands of companies, small and large, that are producing timber domestically or importing timber or timber products into the EU. Some of them are aware of the EUTR, but many are not. It is therefore important that FSC certificate holders get early signals that FSC is ready for the EUTR while doing that extra bit to support responsible forest management.

FSC identified that certain elements of the FSC Controlled Wood, Forest Management and FSC Chain of Custody standards are affected by the regulation and as a result plans to conduction a minor review of the FSC Controlled Wood Standard by the end of 2011, eliminate any non-controlled component from FSC certified products, and release an Advice Note on legality for Forest Management Certification.

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11.07.2011

Simon & Schuster Has Strong Third Quarter

Growth in digital sales in the third quarter was enough to offset print declines giving Simon & Schuster a 1% increase in revenue to $220 million. OBIDA (Operating Income Before Depreciation & Amortization) rose 19%, to $38 million.

CEO Carolyn Reidy said sales in the adult group rose 3.5% led by A Stolen Life, a title that now has a combined 1.3 million print and digital copies in circulation. Sales in the children's group slowed in the quarter, but international sales increased 5%, driven by a 21% increase in the U.K.

Digital sales more than doubled in the quarter and now represent 17% of revenue. Reidy noted that without Borders, sales of physical books are as low as they have been in years. "There is pressure on retail," Reidy observed, though she said the new stores opening in former Borders locations, and elsewhere, will ease some of that pressure. Furthermore, Reidy added, S&S "has adjusted to the new environment" without Borders.

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11.07.2011

Source Interlink Media’s GrindMedia Group Acquires ATV Magazine

GrindMedia, a leading action and adventure sports media company and division of Source Interlink Media, has announced the acquisition of ATV Magazine, atvmagonline.com and atvsport.com. The magazine, which has been published since 1995 by Ehlert Publishing Group, LLC, and the Web sites will be folded into GrindMedia’s ATV Rider Magazine, according to Norb Garrett, SVP and Group Publisher of GrindMedia. Current subscribers to ATV Magazine will begin receiving ATV Rider effective with the January/February 2012 issue, said Garrett.

“This acquisition will strengthen our efforts in the ATV market,” said Garrett. “ATV Rider has been making great strides in both its editorial and sales efforts, and this additional reach will provide our readers and marketing partners with even greater access to this terrific audience.”

ATV Rider will continue to publish six times per year. As a result of the acquisition, ATV Rider’s circulation will increase to 30,000, according to publisher Damian Ercole. ATV Rider will also expand its coverage of the utility ATV market behind the direction of editor Eli Madero.

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11.04.2011

HarperCollins Reports Rise in Quarterly Revenue, Profits

HarperCollins had a “a great quarter,” reporting an increase in revenue and profit over first quarter results last year. Some HarperCollins results were released as part of News Corps' results for the first fiscal quarter of 2012.

According to a Harper spokesperson Print books sold through physical book stores accounted for 71% of sales in the U.S. and 77% of sales worldwide. HarperCollins authors Thomas Transtromer and Ellen Johnson Sirleaf were awarded Nobel Prizes for Literature and Peace. The company reported 50 bestsellers including Portrait of a Spy by Daniel Silva, Reamde by Neal Stephenson, and State of Wonder by Ann Patchett.

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11.04.2011

Postal Reform Bill Bodes Well For Periodicals Industry

According to at least some publishing industry groups and analysts, the postal reform bill introduced Wednesday in the U.S. Senate would be good for both the Postal Service and periodicals mailers.

The bipartisan bill, sponsored by senators Joe Lieberman, Susan Collins, Tom Carper and Scott Brown, was called "excellent" in a statement from MPA-The Association of Magazine Media, and greeted positively by the Postal Service itself, which in a press release thanked the bill's sponsors for introducing legislation "to address critical Postal Service issues" while reasserting the need for long-term legislation to enable the organization to control costs.

The bill takes elements from bills previously introduced by Democrat Carper and Republican Collins. Its most important provision is a proposed return to the Postal Service of an estimated $6.9 billion dollar overpayment to the Federal Employees Retirement System. It also opens the Postal Service up to offering new services such as delivery of wine and beer, changes workers compensation and salary arbitration provisions, and—for now anyway—preserves 6-day delivery.

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11.04.2011

Mercer International Inc. Reports Strong 2011 Third Quarter Results

Mercer International Inc. today reported strong results for the third quarter ended September 30, 2011. Operating EBITDA in the third quarter of 2011 was €49.2 million ($69.5 million), compared to €65.5 million ($84.7 million) in the third quarter of 2010 and €50.1 million ($72.1 million) in the second quarter of 2011. Operating EBITDA is defined on page 5 of this press release and reconciled to net income on page 8 of the financial tables in this press release.

In the current quarter, total revenues were €204.8 million ($289.1 million), compared to €234.4 million ($303.1 million) in the third quarter of 2010. We reported net income of €8.4 million ($11.9 million), or €0.15 ($0.21) per basic share, for the third quarter of 2011, which included an aggregate non-cash unrealized loss of €10.7 million, or €0.20 ($0.28) per basic share, on the Stendal interest rate derivative and foreign exchange losses on our debt and an income tax expense of €3.1 million ($4.4 million), or €0.06 ($0.08) per basic share. In the third quarter of 2010, we reported net income of €46.1 million ($59.6 million), or €1.17 ($1.51) per basic share, which included aggregate non-cash gains of €10.4 million, or €0.26 ($0.34) per basic share, on the Stendal interest rate derivative and foreign exchange gains on our debt and a net income tax benefit of €7.2 million ($9.3 million), or €0.18 ($0.22) per basic share.

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11.04.2011

M&F Worldwide Corp. Reports Third Quarter and Year-to-Date 2011 Results

M & F Worldwide Corp. today reported results for the third quarter and nine months ended September 30, 2011. Additionally, M & F Worldwide filed its Quarterly Report on Form 10-Q with the Securities and Exchange Commission today.

Consolidated net revenues decreased by $1.6 million, or 0.4%, to $438.3 million for the third quarter of 2011 from $439.9 million for the third quarter of 2010. The decrease was due to lower net revenues at the Harland Clarke and Scantron segments, in part due to volume declines of certain products and services, partially of offset by increases in net revenues of $2.2 million for the Licorice Products segment and $1.5 million for the Harland Financial Solutions segment, as further described below.

Operating income increased by $13.2 million, or 17.9%, to $86.8 million for the third quarter of 2011 from $73.6 million for the third quarter of 2010. The increase was primarily due to decreases in the fair value of accrued contingent consideration related to the GlobalScholar acquisition at the Scantron segment and the Parsam acquisition at the Harland Financial Solutions segment that resulted in a non-cash gain of $19.5 million. The reduction in the fair value of accrued contingent consideration was the result of revenue projections that fall below the threshold amount that would trigger a payment. In addition, an increase in operating income for the Harland Clarke segment of $14.8 million was substantially offset by additional costs incurred at the Scantron segment, which were primarily associated with the GlobalScholar and Spectrum K12 acquisitions, deferral of revenue as further described in Segment Results for Scantron below and increased costs for the Corporate segment.

Net income increased by $14.3 million, or 47.4%, to $44.5 million for the third quarter of 2011 from $30.2 million for the third quarter of 2010. The increase was primarily due to a $19.5 million non-cash gain for changes in the fair value of contingent consideration arrangements, of which $19.2 million is not subject to income taxes.

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11.04.2011

Aeropostale Provides Business Update

Aeropostale, Inc., a mall-based specialty retailer of casual apparel for young women and men, today announced revised guidance for the third quarter.

For the third quarter of fiscal 2011 net sales decreased 1% to $596.5 million, from $602.8 million in the year ago period. Same store sales for the third quarter decreased 9%, compared to essentially flat same store sales last year. Based on better than expected gross margins for the quarter, the Company now expects third quarter earnings in the range of $0.27 - $0.28 per diluted share, versus its previously issued guidance in the range of $0.09 - $0.15 per share.

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11.04.2011

Oil Rises to Three-Month High After Greece Cancels Referendum

Oil rose its highest in three months in New York as signs that Europe will reach an agreement with Greece on a rescue plan reduced concern economic growth will falter and damp fuel demand.

Futures rose as much as 0.9 percent and are poised for a fifth weekly gain, the longest rising streak since April 2009. Greece won’t hold a public vote on a bailout package, Finance Minister Evangelos Venizelos told lawmakers in Athens yesterday. Oil is approaching its 200-day moving average, which is at $94.84 a barrel today, according to data compiled by Bloomberg.

“The euro zone is the risk factor for the oil price,” said Sintje Boie, an analyst at HSH Nordbank in Hamburg, who predicts the price of Brent crude will slide to $105 by year- end. “The uncertainty is high but we don’t expect it will end in a catastrophe. Oil demand is not so bad in the U.S., and growth in Asia is strong.”

Crude for December delivery rose as much as 86 cents to $94.93 a barrel, the highest price since August 2, in electronic trading on the New York Mercantile Exchange. The contract was at $94.77 at 10:57 a.m. London time. Futures are up 1.6 percent this week and 3.7 percent in 2011.

Brent oil for December settlement on the London-based ICE Futures Europe exchange was up $1.07 at $111.90 a barrel. The premium of Brent to New York crude was at $17.13, down from a record-high settlement of $27.88 on Oct. 14.

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11.04.2011

Boise Inc. Reports Financial Results for Third Quarter 2011

Boise Inc. today reported net income of $28.4 million, or $0.24 per diluted share, for third quarter 2011, compared with net income of $35.9 million, or $0.43 per diluted share, for third quarter 2010. EBITDA was $98.5 million for third quarter 2011, compared with $109.8 million for third quarter 2010.

Total sales for third quarter 2011 were $631.7 million, up $77.6 million, or 14%, from $554.1 million for third quarter 2010, due primarily to the acquisition of Tharco Packaging, which was completed in March 2011, as well as higher net selling prices for linerboard, newsprint, and corrugated products. Total sales for third quarter were up $28.6 million, or 5%, from second quarter 2011 sales of $603.1 million, driven by higher prices for uncoated freesheet and increased sales volumes of corrugated products.

Uncoated freesheet net selling prices were flat for third quarter 2011, compared with third quarter 2010, and increased 3%, compared with second quarter 2011, driven by improved pricing across our cut-size office papers. Total uncoated freesheet sales volumes were 312,000 short tons for third quarter 2011, a decrease of 2% versus the prior-year period and flat versus second quarter 2011.

Corrugated container and sheet sales volumes improved 31% during third quarter 2011, compared with third quarter 2010, due primarily to the acquisition of Tharco. Corrugated sales volumes increased 3%, compared with second quarter 2011, driven by seasonally stronger demand in agricultural markets. Corrugated container and sheet prices increased 18% during third quarter 2011, compared with third quarter 2010, driven primarily by product mix changes due to the Tharco acquisition, and increased 1% sequentially from second quarter 2011.

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11.04.2011

HP Helps Consolidated Graphics Veritas Take Advantage of Digital Print Growth Opportunities

HP today announced that Consolidated Graphics Inc., one of the nation’s largest commercial print service providers (PSPs) offering the world’s largest integrated digital printing footprint, installed an HP T200 Color Inkjet Web Press at Veritas Document Solutions, a CGX company based in Buffalo Grove, Ill.

The new press was showcased today during an open house customer event at Veritas Document Solutions in Buffalo Grove. With the press, Veritas expands its range and quality of data-driven solutions, gaining the ability to:

— develop more opportunities in high- and mid-volume digital printing, including fast-turnaround, full-color print-on-demand publications, web-to-print marketing collateral and other commercial print application;

— streamline bill and statement offerings by replacing two-step color offset shell printing and monochrome digital imprinting with one-pass, full-color digital production; and

— enhance direct marketing programs with affordable, high-quality, variable-data color imaging.

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11.04.2011

Stora Enso plans restructuring of packaging operations to better meet customer needs

Stora Enso’s Packaging Business Area plans to increase its cost competitiveness and respond to market demand by restructuring its core and coreboard operations in Finland, Germany, the United Kingdom and the USA, and streamlining corrugated packaging production in Finland.

“In core and coreboard markets the main customer is the board and paper industry. Decreased demand for paper mill cores in mature markets has made the market situation tighter, and in the current financial situation the outlook is uncertain. Corrugated packaging markets are very local and closely related to national economies. In Finland demand is still clearly below pre-crisis levels, and there are no signs of sustained recovery. The planned restructuring and streamlining measures, including some development investments, will enable us to better meet customer and market expectations and ensure our competitiveness by being more cost efficient and streamlining our operations,” says Mats Nordlander, EVP, Stora Enso Packaging Business Area.

The planned restructuring measures would reduce approximately 80 employees in corrugated packaging operations in Finland, and approximately 70 employees in core and coreboard operations mainly in Germany, Finland, the United Kingdom and the USA. In addition, the plans include possible temporary lay-offs at corrugated packaging operations in Finland.

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11.04.2011

J. C. Penney Company, Inc. Reports October Sales Results

J. C. Penney Company, Inc. reported today that its comparable store sales for the four-week period ended Oct. 29, 2011, decreased 2.6 percent. While sales overall were soft, women's apparel and accessories experienced sales gains in October. Geographically, the southeast was the top performing region. Total Company sales decreased 6.6 percent for the month.

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11.04.2011

Kohl's Corporation Reports October Comparable Store Sales

Kohl's Corporation reported today that for the four-week month ended October 29, 2011 total sales increased 5.6 percent and comparable store sales increased 3.9 percent over the four-week month ended October 30, 2010. Year to date, total sales increased 3.5 percent and comparable store sales increased 1.7 percent.

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11.04.2011

Nordstrom Reports October Sales

Nordstrom, Inc. today reported a 5.4 percent increase in same-store sales for the four-week period ended October 29, 2011 compared with the four-week period ended October 30, 2010. Preliminary total retail sales of $749 million for October 2011 increased 13.3 percent compared with total retail sales of $662 million for the same period in fiscal 2010.

Third quarter same-store sales increased 7.9 percent compared with the same period in fiscal 2010. Preliminary third quarter total retail sales of $2.38 billion increased 14.2 percent compared with total retail sales of $2.09 billion for the same period in fiscal 2010.

Year-to-date same-store sales increased 7.2 percent compared with the same period in fiscal 2010. Preliminary year-to-date total retail sales of $7.33 billion increased 12.8 percent compared with total retail sales of $6.49 billion for the same period in fiscal 2010.

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11.04.2011

Target Reports October Sales Results

Target Corporation today reported that its net retail sales for the four weeks ended October 29, 2011 were $4,839 million, an increase of 4.3 percent from $4,641 million for the four weeks ended October 30, 2010. On this same basis, comparable-store sales increased 3.3 percent in October and 4.3 percent in the third quarter.

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11.04.2011

Gap Inc. Reports October Sales

Gap Inc. today reported that October 2011 net sales decreased 4 percent compared with last year.

Net sales for the four-week period ended October 29, 2011 were $1.14 billion compared with net sales of $1.19 billion for the four-week period ended October 30, 2010. The company’s comparable sales for October 2011, which include the associated comparable online sales, were down 6 percent compared with a 4 percent increase for October 2010.

In addition, the company reported that net sales for the third quarter, which ended October 29, 2011, decreased 2 percent to $3.59 billion compared with $3.65 billion for the third quarter last year. The company’s third quarter comparable sales, which include the associated comparable online sales, were down 5 percent compared with a 1 percent increase in the third quarter of the prior year.

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11.04.2011

September 2011 US Commercial Printing Shipments Steady with 2010

September 2011 US commercial printing shipments were $7.426 billion, an increase of $22 billion (+0.3%) on a current dollar basis compared to September 2010. On an inflation-adjusted basis, shipments for September 2011 were down -$266 million (-3.5%) compared to the prior year.

The first three quarters of 2011 were up +$130 million (+0.2%) compared to 2010, but down -$1.8 billion (-2.8%) after inflation adjustment.

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