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

11.06.2012

Bertelsmann Acquires 100% Ownership of Random House Mondadori

Bertelsmann’s leading trade book publishing group Random House will now own 100 percent of the shares in Random House Mondadori, its trade book publisher in Spain and Latin America. Random House Mondadori was formed as a 50/50 joint venture in 2001 by Random House and Mondadori. In a transaction signed today, Bertelsmann has agreed to purchase Mondadori’s equity stake in the Barcelona-based publisher on behalf of Random House. The agreement, which is subject to approval by Spanish Anti-Trust authorities, is expected to close before year-end. The corporate name of Random House Mondadori will be retained for the present, and will be changed in the near future to reflect its new ownership structure.

Thomas Rabe, Chairman and Chief Executive Officer of Bertelsmann, said, “Bertelsmann believes in the creative and commercial potential of the book business and, by maximizing its holding in Random House Mondadori, is embracing an opportunity to significantly improve both its position in the Spanish book market and its access to the growing Spanish-language markets of Latin America. We are very grateful to Mondadori for our longstanding and very successful partnership.”

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11.06.2012

Appleton Reports Third Quarter 2012 Results

Appleton’s third quarter 2012 net sales of $210.7 million decreased 2.9% compared to third quarter 2011. Adjusting for the Company’s decision to discontinue the sale of carbonless papers into certain non-strategic international markets, third quarter 2012 net sales were up 1.8%. The Company’s strong revenue growth from thermal papers of 9.3% helped to partially offset the sales decreases in carbonless papers and Encapsys.

Appleton reported a third quarter 2012 operating income of $11.9 million compared to operating income of $11.2 million during third quarter 2011. Excluding certain items, third quarter 2012 adjusted operating income was $22.1 million, $10.9 million higher than adjusted operating income reported for third quarter 2011.Operating income for third quarter 2012 was reduced by a $7.0 million settlement charge relating to the withdrawal from the multi-employer pension plan as negotiated by Appleton participants during recently-concluded labor contract negotiations. The Company also recorded $5.1 million of costs related to ceasing papermaking operations at the West Carrollton, Ohio mill and transitioning to base paper produced by Domtar. Also during the quarter, a $2.2 million environmental expense insurance recovery was recorded.

Appleton’s net sales for the first nine months of 2012 were $644.3 million, 1.1% lower than the first nine months 2011. Adjusting for the Company’s decision to discontinue the sale of carbonless papers into certain non-strategic international markets, sales for this period were up 1.6%. Appleton reported an operating loss of $70.3 million for the first nine months of 2012 compared to operating income of $32.2 million for the same period last year. Excluding certain items, current year adjusted operating income was $51.9 million, $16.6 million higher than adjusted operating income reported for the same period 2011. On a year-to-date basis, costs related to ceasing papermaking operations at West Carrollton and transitioning to Domtar base paper were $110.2 million. Current year results also included $7.2 million of business combination transaction costs, the $7.0 million multi-employer pension plan settlement charge and the $2.2 million environmental expense insurance recovery. First nine months 2011 operating income included a $3.1 million charge for a litigation settlement.

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11.06.2012

July’s print spending on b-to-b ads falls 4.5 percent

According to ABM’s BIN Report, total b-to-b print advertising for July 2012 fell 4.5 percent compared with advertising for July 2011. For the month, 11 of the 22 categories tracked, representing $320 million in revenue, saw revenues decline. The remaining 11 categories, representing $238 million in ad revenue, saw ad sales rise.

The biggest gainers were aviation, aerospace and military, up 103 percent; travel, business conventions and meetings, up 39 percent; and agriculture, up 19 percent. The categories that saw the steepest monthly declines were healthcare, down 24 percent; government, down 23 percent; and pharmaceuticals, down 22 percent.

For the first seven months of 2012, total b-to-b print ad spending has declined 4.1 percent year-over-year compared with the revised January-July period for 2011.

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11.06.2012

OfficeMax Reports Third Quarter 2012 Financial Results

OfficeMax® Incorporated, a leader in office and facility supplies, technology and services, today announced the results for its fiscal third quarter ended September 29, 2012.

Total sales were $1,744.6 million in the third quarter of 2012, a decrease of 1.7% from the third quarter of 2011. For the third quarter of 2012, OfficeMax reported operating income of $33.5 million, compared to $41.3 million in the third quarter of 2011, and net income available to OfficeMax common shareholders of $433.0 million, or $4.92 per diluted share, compared to $21.5 million, or $0.25 per diluted share, in the third quarter of 2011.

Excluding the impact of changes in foreign exchange rates, the impact of stores closed and opened, and the shift in weeks resulting from our fiscal calendar, adjusted total sales in the third quarter of 2012 decreased 1.2% from the third quarter of 2011. A reconciliation to the company's GAAP sales results is included in this press release.

Results for the third quarter of 2012 included a non-cash gain of $670.8 million related to the extinguishment of non-recourse debt guaranteed by Lehman Brothers Holdings, Inc. which increased net income by $416.4 million, or $4.73 per diluted share. The third quarter of 2012 also included $11.4 million of expenses to impair fixed assets associated with certain stores and to record a change in the estimated lease obligation of a previously closed store in the U.S. which reduced net income by $7.0 million or $0.08 per diluted share. Excluding these items, adjusted operating income in the third quarter of 2012 was $44.9 million, or 2.6% of sales, an increase from $41.3 million, or 2.3% of sales, in the third quarter of 2011; and adjusted net income available to OfficeMax common shareholders was $23.6 million, or $0.27 per diluted share, an increase from $21.5 million, or $0.25 per diluted share, in the third quarter of 2011.

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11.06.2012

Office Depot Announces Third Quarter 2012 Results

Office Depot, Inc., a leading global provider of office supplies and services, today announced results for the fiscal quarter ended September 29, 2012.

Total Company sales for the third quarter of 2012 were approximately $2.7 billion, down 5% compared to the third quarter of 2011. On a constant currency basis, third quarter 2012 sales were down approximately 3% versus prior year.

The Company reported a net loss, after preferred stock dividends, of $70 million or $0.25 per diluted share in the third quarter of 2012, compared to net earnings, after preferred stock dividends, of $92 million or $0.28 per share in the third quarter of 2011.

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11.06.2012

CVS Caremark Reports Third Quarter Results

CVS Caremark Corporation today announced operating results for the three months ended September 30, 2012.

Net revenues for the three months ended September 30, 2012 increased 13.3%, or $3.6 billion, to $30.2 billion, up from $26.7 billion in the three months ended September 30, 2011.

Revenues in the Pharmacy Services Segment increased 22.2% to $18.1 billion in the three months ended September 30, 2012. This increase was primarily driven by new client starts associated with our highly successful 2012 selling season, drug cost inflation, and the growth of our Medicare Part D program. Pharmacy network claims processed during the three months ended September 30, 2012 increased 10.0%, to 197.0 million, compared to 179.2 million in the prior year period. The increase in pharmacy network claims was primarily due to new client starts, as well as higher claims activity associated with our Medicare Part D program. Mail choice claims processed during the three months ended September 30, 2012 increased approximately 16.3% to 20.4 million compared to 17.5 million in the prior year period. The increase in the mail choice claim volume was primarily driven by new client starts and the continued adoption of our unique Maintenance Choice® program.

Income from continuing operations attributable to CVS Caremark for the three months ended September 30, 2012 increased $143 million, to approximately $1.0 billion, compared with $868 million during the three months ended September 30, 2011 attributable to both our Retail Pharmacy and Pharmacy Services segments. Both segments benefited from the impact of increased generic drugs dispensed and the continued growth of our Maintenance Choice program. Our retail business benefited significantly from the contractual impasse between Walgreens and Express Scripts which ended effective September 15, 2012. Our pharmacy benefit management business benefited from the growth of our Medicare Part D business as well as 2012 new client starts. Adjusted earnings per share from continuing operations attributable to CVS Caremark ("Adjusted EPS") for the three months ended September 30, 2012 and 2011 were $0.85 and $0.70, respectively. Adjusted EPS excludes $121 million and $118 million of intangible asset amortization related to acquisition activity in the three months ended September 30, 2012 and 2011, respectively. GAAP earnings per diluted share from continuing operations attributable to CVS Caremark for the three months ended September 30, 2012 and 2011 were $0.79 and $0.65, respectively.

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11.05.2012

The Washington Post Company Reports Third Quarter Earnings

The Washington Post Company today reported net income attributable to common shares of $93.8 million ($12.64 per share) for the third quarter ended September 30, 2012, compared to a net loss attributable to common shares of $6.2 million ($0.82 loss per share) for the third quarter of last year. However, net income includes $49.1 million ($6.61 per share) in income from discontinued operations and $18.8 million ($2.41 per share) in losses from discontinued operations for the third quarter of 2012 and 2011, respectively (refer to “Discontinued Operations” discussion below). Income from continuing operations attributable to common shares was $44.7 million ($6.03 per share) for the third quarter of 2012, compared to $12.6 million ($1.59 per share) for the third quarter of 2011.

Revenue for the third quarter of 2012 was $1,011.3 million, flat compared to $1,012.5 million in the third quarter of 2011. The Company reported operating income of $75.9 million in the third quarter of 2012, compared to operating income of $70.2 million in the third quarter of 2011. Revenues and operating income increased at the television broadcasting and cable television divisions, offset by declines at the education and newspaper publishing divisions.

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11.05.2012

Fortress Paper Announces Third Quarter 2012 Results

Fortress Paper Ltd. reported 2012 third quarter EBITDA loss of $6.4 million. For the second quarter of 2012, EBITDA was $2.3 million and for the third quarter of 2011, EBITDA loss was $0.8 million.

Excluding corporate costs, the three business segments’ combined EBITDA loss was $5.3 million in the three months ended September 30, 2012. The Specialty Papers Segment contributed $8.3 million EBITDA, while the Dissolving Pulp Segment and the Security Paper Products Segment generated EBITDA losses of $5.6 million and $8.0 million, respectively. Corporate costs contributed to EBITDA loss in the amount of $1.1 million.

Net loss for the third quarter of 2012 was $18.9 million or basic and diluted net loss of $1.31 per share. In the prior quarter, net income was $12.5 million or diluted net income per share of $0.83. In the prior year comparative period, net loss was $7.2 million or basic and diluted net loss per share of $0.51. The current period result was significantly lower compared to the previous quarter due in part to the gain realized in the prior quarter on the sale of certain noncore assets in the Security Paper Products Segment and the scheduled annual extended shutdown for maintenance as well as an unplanned shutdown due to a recovery boiler issue in the Dissolving Pulp Segment in the third quarter of 2012.

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11.05.2012

Oil Trades Near Four-Month Low on Greece Concern, U.S. Elections

Oil traded near the lowest level in almost four months in New York amid concern that Greece will struggle to secure another bailout and uncertainty over who will win tomorrow’s U.S. presidential elections.

West Texas Intermediate futures were little changed after falling 2.6 percent on Nov. 2 to cap a third weekly decline. Brent crude fell below $105 a barrel in London for the first time since Aug. 2. Voters decide tomorrow between giving President Barack Obama another four years in office or changing course with Republican challenger Mitt Romney.

“Some clarity for the medium-term would be good for the markets,” said Eugen Weinberg, head of commodities research at Commerzbank AG in Frankfurt, who predicts Brent crude will rebound toward $110 a barrel this month. “Obama is considered by the oil markets as being more favourable.”

Crude for December delivery was at $85.02 a barrel, up 16 cents, in electronic trading on the New York Mercantile Exchange at 10:59 a.m. London time.

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11.05.2012

Arctic Paper through 3 quarters of 2012: Solid Financial Results, Record-High Sales Volume in the 3rd Quarter

Arctic Paper S.A., one of the leading producers of bulky-book paper and high-quality graphic paper in Europe, generated sales revenue through the first 3 quarters of 2012 of PLN 1,986 m (7.1% higher than during the same period of the previous year), with EBITDA of more than PLN 133.6m (48.4% growth) and an operating profit of over PLN 41.5m (as against a loss the year before). The net profit of Arctic Paper during this period was almost PLN 16.2m, compared to a loss during the same period a year ago.

In 3Q 2012 demand for high-quality paper in Europe was 5.6% lower than in 2Q 2012 and 3.8% lower than in 3Q 2011. Despite this, the company recorded the largest sales volume in its history during the period, up 6.5% from 3Q 2011. Sales volume was 7.8% higher than in 2Q 2012. The level of orders in the 3rd quarter remained stable.

Utilisation of the company’s production capacity in 3Q 2012 was high, at 97%, up 1.9 pp from 3Q 2011. The average utilization of production capacity over the past 12 months was about 95%.

In the 3rd quarter the group continued projects begun in prior periods. The company conducted optimization of its product line, which will have a positive impact on the results achieved by the plants in Kostrzyn and Mochenwangen in upcoming quarters.

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11.05.2012

RR Donnelley Awarded Multi-Year Agreement by AARP

R. R. Donnelley & Sons Company today announced that it has been awarded a multi-year agreement that renews and expands its relationship with AARP, the leading nonprofit, nonpartisan organization, with a membership of more than 37 million, that helps people 50+ have independence, choice and control in ways that are beneficial to them and society as a whole.

Under the terms of the agreement RR Donnelley will provide a comprehensive range of magazine and direct response printing, premedia and logistics services. RR Donnelley will produce 100% of AARP's periodicals, including AARP The Magazine and AARP Bulletin, the two largest circulation print publications in the world.

"Sustained relationships with valued customers such as AARP are perhaps the best demonstration of our ability to provide enduring value to customers, even as the technological environment changes," said John Paloian, RR Donnelley's Chief Operating Officer. "All of us at RR Donnelley are proud and grateful for the continuing opportunity to serve AARP. We will continue to be the source for innovative solutions that they and other customers need in order to help their content connect with their audiences."

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11.05.2012

Walgreens debuts healthy living magazine

Walgreen Co. is getting into the magazine business with a healthy living guide available Nov. 4.

The Deerfield-based drugstore chain's Happy And Healthy, Your Guide To Living Well With Walgreens will be a glossy, bi-annual magazine in English and Spanish. There will also be a similar version for Duane Reade customers.

Walgreens expects circulation to be about 65 million. The magazine will be online at walgreens.com, in stores as well as inserted in Sunday newspapers across the country.

The magazine will feature health and wellness; food and beverage; and beauty tips and offers for Balance Reward loyalty card members.

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11.02.2012

Kohl's Corporation Reports October Comparable Store Sales

Kohl’s Corporation reported today that for the four-week month ended October 27, 2012 total sales increased 4.6 percent and comparable store sales increased 3.3 percent over the four-week month ended October 29, 2011. For the third quarter, total sales increased 2.6 percent and comparable store sales increased 1.1 percent. Year to date, total sales increased 1.2 percent and comparable store sales decreased 0.5 percent.

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11.02.2012

Nordstrom Reports October and Third Quarter Sales

Nordstrom, Inc. today reported a 9.8 percent increase in same-store sales for the four-week period ended October 27, 2012 compared with the four-week period ended October 29, 2011. Preliminary total retail sales of $835 million for October 2012 increased 11.5 percent compared with total retail sales of $749 million for the same period in fiscal 2011.

Third quarter same-store sales, which reflected a shift in the timing of the Anniversary Sale event, increased 10.7 percent compared with the same period in fiscal 2011. Preliminary third quarter total retail sales of $2.71 billion increased 13.8 percent compared with total retail sales of $2.38 billion for the same period in fiscal 2011.

Year-to-date same-store sales increased 7.7 percent compared with the same period in fiscal 2011. Preliminary year-to-date total retail sales of $8.17 billion increased 11.4 percent compared with total retail sales of $7.33 billion for the same period in fiscal 2011.

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11.02.2012

Gap Inc. Reports Increase in October Sales and Strong Third Quarter Sales Results

Gap Inc. today reported that net sales for the third quarter of fiscal year 2012 increased 8 percent compared with last year, and October 2012 net sales increased 6 percent compared with last year.

Net sales for the third quarter, which ended October 27, 2012, increased 8 percent to $3.86 billion compared with $3.59 billion for the third quarter last year. The company’s third quarter comparable sales were up 6 percent compared with a 5 percent decrease in the third quarter last year.

In addition, net sales for the four-week period ended October 27, 2012 were $1.22 billion compared with net sales of $1.14 billion for the four-week period ended October 29, 2011. The company’s comparable sales for October 2012 were up 4 percent compared with a 6 percent decrease in October 2011.

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11.02.2012

Rite Aid Reports 1.1 Percent Same Store Sales Decrease for October

Rite Aid Corporation today announced sales results for October.

For the four weeks ended Oct. 27, 2012, same store sales decreased 1.1 percent over the prior-year period. October front-end same store sales increased 1.5 percent. Pharmacy same store sales, which included an approximate 971 basis points negative impact from new generic introductions, decreased 2.3 percent. Prescription count at comparable stores increased 4.7 percent over the prior-year period.

Total drugstore sales for the four-week period decreased 1.8 percent to $1.918 billion compared to $1.954 billion for the same period last year. Prescription sales accounted for 68.2 percent of drugstore sales, and third party prescription sales represented 96.5 percent of pharmacy sales.

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11.02.2012

Stein Mart, Inc. Reports October 2012 Sales

Stein Mart, Inc. today reported comparable store sales increased 1.7 percent for the four-week period ended October 27, 2012. Total sales for the period were $87.2 million, an increase of 1.7 percent from the same period in 2011. For the third quarter, comparable store sales increased 3.1 percent and total sales increased 4.0 percent to $268.9 million. For the year to date, comparable store sales increased 1.3 percent and total sales increased 2.0 percent to $848.7 million.

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11.02.2012

The McGraw-Hill Companies Reports 3RD Quarter and YTD Results

The McGraw-Hill Companies today reported third quarter revenue of $1,953 million, an increase of 2% compared to the same period last year. McGraw-Hill Financial reported a 15% increase and McGraw-Hill Education reported an 11% decline. Net income from continuing operations decreased 14% to $314 million and diluted earnings per share decreased 9% to $1.10.

Excluding the impact of one-time costs related to the Growth and Value Plan and associated restructuring, which totaled $99 million, adjusted net income from continuing operations increased 3% to $379 million and adjusted diluted earnings per share increased 10% to $1.33. This increase was primarily the result of strong growth at McGraw-Hill Financial.

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11.02.2012

Closure of Transcontinental Inc. Printing Plant in LaSalle, Quebec

Transcontinental Inc. is announcing the closing, on or about December 20, 2012, of its printing plant at 7743 Bourdeau St. in LaSalle, Quebec, leading to the loss of some 150 jobs. All employees affected by the termination of printing operations at this plant have been informed of the decision and will receive severance pay as well as out-placement services to help them find new jobs.

“The printing industry is undergoing a major transformation that is altering supply and demand. Given the capacity and potential of our network, we have concluded that we have excess production capacity in relation to market demand. In order for Transcontinental inc. to remain competitive in this industry under pressure and get the most out of its most efficient equipment, we have had to make the difficult decision to terminate our printing operations at LaSalle,” said Marian Kerr, Senior Vice President, Retail and Newspapers - Eastern.

This decision is not based in any way on the quality of the work or performance of the team at Transcontinental LaSalle. Transcontinental inc. sincerely thanks all the employees at the plant for their dedication and professionalism.

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11.02.2012

Sealed Air Reports Third Quarter 2012 Results

Sealed Air Corporation today announced financial results for the third quarter of 2012. The Company noted that following the announced sale of its Diversey Japan business, it has classified Diversey Japan as a discontinued operation as of September 30, 2012. Prior year reported and pro forma financial results have been revised to reflect this discontinued operation.

Sales for the third quarter 2012 totaled $2.0 billion including $1.9 billion from continuing operations and $79 million of sales from discontinued operations. Sales from continuing operations increased 52% over 2011, including a 56% increase from the Diversey acquisition, a 2% increase in organic sales, and 5% unfavorable currency translation.

Pro forma sales from continuing operations increased 2% on a constant dollar basis from 1% in both higher volumes and price/mix. Sales from continuing operations decreased 5% on a reported basis, including 7% from unfavorable foreign exchange translation. While we achieved positive volume growth in most regions, our Europe business continued to feel the effects of the European economic slowdown. Our growth was attributable to the successful execution of our growth programs, expansion in developing regions, the steady adoption of new solutions, and a net gain in new customer relationships.

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11.02.2012

RR Donnelley Reports Third-Quarter 2012 Results

R.R. Donnelley & Sons Company today reported third-quarter 2012 net earnings attributable to common shareholders of $71.4 million, or $0.39 per diluted share, on net sales of $2.5 billion compared to net earnings of $158.0 million, or $0.83 per diluted share, on net sales of $2.7 billion in the third quarter of 2011. Third-quarter 2012 net earnings attributable to common shareholders included pre-tax charges for restructuring ($12.3 million) and impairment ($1.6 million, non-cash), acquisition-related expenses ($1.3 million) and a tax provision related to certain foreign earnings no longer considered to be permanently reinvested ($11.0 million). Third-quarter 2011 net earnings attributable to common shareholders included pre-tax charges for restructuring ($23.6 million) and impairment ($10.6 million, non-cash), a loss on debt extinguishment ($1.3 million) and acquisition-related expenses ($0.7 million), partially offset by the recognition of previously unrecognized tax benefits ($77.4 million, non-cash).

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11.02.2012

Schawk Reports Net Loss Due to Challenging Americas Market

Schawk Inc. reported 2012 third-quarter results. Net loss in the third quarter of 2012 was $2.2 million, vs. net income of $8.1 million in the third quarter of 2011. Included in the 2012 third-quarter net loss is $4.3 million of non-cash expense related to the impairment of long-lived assets. In addition, business and system integration expenses for the company’s ongoing information technology and business process improvement initiative increased by approximately $1.0 million for the quarter compared to the prior-year period, which also contributed in part to the decline in net income.

On a non-GAAP basis, adjusting for financial impacts relating to the non-cash impairment expenses, business and system integration expense and other items, adjusted net income was $3.1 million, compared to $5.6 million during the prior-year period.

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11.02.2012

Mercer International Inc. Reports 2012 Third Quarter Results

Mercer International Inc. today reported results for the third quarter ended September 30, 2012. Operating EBITDA* in the third quarter of 2012 was €22.3 million ($27.9 million), compared to €49.2 million ($69.5 million) in the third quarter of 2011 and €32.9 million ($42.2 million) in the second quarter of 2012.

For the third quarter of 2012, we had a net loss of €9.7 million ($12.1 million), or €0.17 ($0.21) per basic share, compared to net income of €8.4 million ($11.9 million), or €0.15 ($0.21) per basic share, in the third quarter of 2011 and net income of €1.5 million ($1.9 million), or €0.03 ($0.04) per basic share, for the second quarter of 2012.

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11.02.2012

Interfor’s Q3 Results Improve on Higher Volumes

INTERNATIONAL FOREST PRODUCTS LIMITED reported net earnings of $1.1 million or $0.02 per share in the third quarter of 2012.

Excluding restructuring costs and other one-time items, the Company’s net earnings in the third quarter were $0.6 million or $0.01 per share compared with net earnings of $0.9 million or $0.02 per share in the second quarter of 2012 and net earnings of $2.4 million or $0.04 per share in the third quarter of 2011.

Included in the Company’s results in the current quarter was a share-based compensation expense of $2.3 million or $0.04 per share compared to an expense of $0.2 million or $0.00 per share in the second quarter and a recovery of $0.9 million or $0.02 per share in the third quarter of 2011.

EBITDA for the quarter (adjusted to exclude one-time items and other income but including provisions for share-based compensation) was $14.9 million compared with $16.5 million in the second quarter and $17.2 million in the third quarter last year.

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11.02.2012

Martha Stewart Living Omnimedia Scaling Way Back on Print

Just ahead of its third-quarter earnings call, Martha Stewart Living Omnimedia today is announcing it is scaling back its print operation by cutting 1.1 million-circulation Everyday Food from a standalone 10x frequency to a 5x supplement to flagship magazine Martha Stewart Living.

In the meantime, the 760,000-circulation Whole Living, also on a 10x frequency, has been put on the block—the company says it's already in discussions on a possible sale—and if a buyer doesn't materialize then the brand's content will be folded into Martha Stewart Living.

The pullback on print will come with a staff reduction, which The New York Times reports to be about 70 people, and MSLO says the new cost efficiencies of the moves could realize up to $35 million in annualized savings.

According to min box score numbers, Everyday Food is down about 3 percent in ad pages for the first three quarters compared to last year, and Whole Living has declined about 8 percent during the same period.

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11.02.2012

Resolute Reports Preliminary Third Quarter 2012 Results

Resolute Forest Products today reported net income of $31 million for the third quarter, or $0.32 per diluted share, on sales of $1.2 billion. This compares with a net loss of $44 million, or $(0.46) per share, on sales of $1.2 billion in the third quarter of 2011.

Excluding $24 million of special items described below, net income for the quarter was $7 million, or $0.07 per diluted share. Net income excluding special items for the third quarter of 2011 was $50 million, or $0.50 per diluted share.

Operating income for the third quarter was $26 million, compared to $72 million in the third quarter of 2011. The most significant components of the $46 million variance include: a volume decline for $51 million as a result of the Company reducing its exposure to newsprint export markets pressured by the strong U.S. dollar, its ongoing asset optimization efforts and a temporary but unexpected drop in September lumber shipments. The lower average Canadian dollar this quarter provided a $7 million cost advantage. The Company's asset optimization and restructuring initiatives, as well as more favorable pricing for recovered paper, power and natural gas, led to savings of $13 million in overall input costs, despite $6 million of costs associated with the annual outage at our Fort Frances pulp mill, last taken in the second quarter of 2011. In addition, there was a $10 million unfavorable impact for the annual maintenance and necessary work to improve the operational and environmental performance of the recently acquired St. Felicien mill. While the stronger pricing in wood products offset weak conditions in the market pulp segment, price eroded $9 million of operating income in paper grades, mostly in the coated papers segment.

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11.02.2012

Martha Stewart Living Omnimedia Reports Third Quarter 2012 Results

Martha Stewart Living Omnimedia, Inc. today announced its results for the third quarter ended September 30, 2012. The Company reported total revenues for the third quarter of $43.5 million.

Total revenues were $43.5 million in the third quarter of 2012, compared to $52.2 million in the third quarter of 2011, due to lower revenues in the publishing and broadcasting segments, partially off-set by higher merchandising revenues.

Total operating loss for the third quarter of 2012 was $(50.7) million, which included a $(44.3) million non-cash impairment charge reflecting the write-down of goodwill related to the Company's publishing segment. The write-down is the result of continued softness in the print publishing industry overall and, specifically, a decrease in the Company's advertising revenues. Total operating loss in the third quarter of 2011 was $(9.3) million, which included a $(3.8) million restructuring charge related to changes in executive management and professional fees.

Adjusted EBITDA loss for the third quarter of 2012 was $(4.0) million, compared to $(2.3) million in the prior-year period.

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11.02.2012

Boise Inc. Reports Financial Results for Third Quarter 2012

Boise Inc. today reported net income of $3.6 million, or $0.04 per diluted share, for third quarter 2012, compared with net income of $28.4 million, or $0.24 per diluted share, for the same period in 2011. Excluding special items, net income was $22.8 million, or $0.23 per diluted share for third quarter 2012. EBITDA, excluding special items, was $90.5 million for third quarter 2012, compared with $98.5 million for third quarter 2011.

"We operated well and achieved good results, including generating $62 million of free cash flow," said Alexander Toeldte, president and chief executive officer.

"Our third quarter results include the costs associated with our recently announced decision to cease paper production on the company's one remaining paper machine (H2) at our St. Helens, Oregon, paper mill. This decision will reduce our annual uncoated freesheet capacity by almost 60,000 tons and allow us to focus our efforts and resources on products and machines elsewhere in our system that drive the financial performance and cash flow of our paper operations. We thank the employees, customers, suppliers, and community who supported the St. Helens operation over so many years," said Mr. Toeldte.

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11.02.2012

AAA Fuel Gage & Exchange Rates

AAA’s Fuel Gage Report as of 11/02/12
National Unleaded Regular:
Current Average - $3.496/gallon
Month Ago Average - $3.782/gallon
Year Ago Average - $3.432/gallon
Highest Recorded Average - $4.114/gallon on 7/17/08
Diesel:
Current Average - $4.044/gallon
Month Ago Average - $4.083/gallon
Year Ago Average - $3.889/gallon
Highest Recorded Average - $4.845/gallon on 7/17/08

Current Exchange Rates as of 11/02/12
American Dollar to Canadian Dollar = 1.002631
American Dollar to Chinese Yuan = 0.160178
American Dollar to Euro = 1.287741
American Dollar to Japanese Yen = 0.012463
American Dollar to Mexican Peso = 0.076795

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11.02.2012

Oil Trims Weekly Advance as U.S. Refineries Remain Shut

Crude fell for the first time in four days in New York, erasing this week’s gain, as two refineries on the U.S. East Coast remained shut after Hurricane Sandy and the nation’s unemployment rate was forecast to rise.

Futures declined as much as 1 percent after rising the most in three weeks yesterday. Phillips 66 and Hess Corp.’s New Jersey refineries were still not operating four days after the Atlantic superstorm struck. The U.S. jobless rate probably gained for the first time in three months, according to a Bloomberg survey before government data today. Euro-area manufacturing output contracted in October, adding to signs a recession in the currency bloc may extend into next year.

“With refinery shutdowns there’s less crude demand, and so there’s a negative impact,” said Gareth Lewis-Davies, an analyst at BNP Paribas SA in London.

Crude for December delivery fell as much as 91 cents to $86.18 a barrel in electronic trading on the New York Mercantile Exchange and was at $86.25 at 9:26 a.m. London time.

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11.02.2012

Consumer confidence rises to yearly high

Spurred by better job growth, the Consumer Confidence Index rose last month to its highest level in almost five years.

The October reading, 72.2, was the highest since February 2008, and was up from 68.4 in September.

According to the Conference Board, which issues the index, those stating jobs are “plentiful” increased to 10.3% in October from 8.1% in September, while those claiming jobs are “hard to get” declined to 39.4%, from 40.7%. Also, consumers claiming business conditions are “good” rose to 16.5% from 15.3% the month before, while those saying business conditions are “bad” edged down to 33.1%, from 33.8%.

“Consumers were considerably more positive in their assessment of current conditions, with improvements in the job market as the major driver,” Lynn Franco, director-economic indicators at the Conference Board, said in a statement. “Consumers were modestly more upbeat about their financial situation and the short-term economic outlook, and appear to be in better spirits approaching the holiday season.”

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11.02.2012

AptarGroup Reports Third Quarter Results; Announces European Operations Optimization Plan

AptarGroup, Inc. today reported third quarter results and announced a plan to optimize certain European operations.

Third Quarter 2012 Summary
•Reported sales declined 2% (core sales increased 2% excluding currency effects and acquisition)
•Certain markets in Europe continued to be soft; Latin America and Asia remained strong
•Aptar Stelmi added $25 million in reported sales
•Changes in currency exchange rates negatively impacted sales by approximately 8% and earnings by approximately 7%

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11.02.2012

American Forest & Paper Association Releases September 2012 U.S. Recovered Fiber Monthly Report

The American Forest & Paper Association released its September 2012 U.S. Recovered Fiber Monthly Report on Monday, Oct. 22.

According to the report, total U.S. industry consumption of recovered paper in September was 2.36 million tons, 8 percent lower than August 2012. Year-to-date total consumption in 2012 is 4 percent lower than during the same period last year.

U.S. exports of recovered paper, as reported by the U.S. Census Bureau, decreased 4 percent in August compared to July, led by a drop in Mixed Papers exports which fell after a very strong July. Year-to-date exports of recovered paper in 2012 are 6.5 percent lower than during the same period in 2011.

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11.02.2012

RockTenn Reports Fourth Quarter Fiscal 2012 Results

RockTenn today reported earnings for the fiscal year ended September 30, 2012 of $3.45 per diluted share and adjusted earnings of $4.48 per diluted share and for the quarter ended September 30, 2012 of $1.14 per diluted share and adjusted earnings of $1.39 per diluted share.

Net sales of $2,353.8 million for the fourth quarter of fiscal 2012 decreased $109.7 million compared to the fourth quarter of fiscal 2011.

Segment income, adjusted to eliminate $0.2 million of pre-tax acquisition inventory step-up, was $208.8 million down $32.2 million or 13.4% over the prior year quarter after adjusting the prior year quarter to eliminate $4.0 million of pre-tax acquisition inventory step-up. Segment income in the fourth quarter of fiscal 2012 included $18.2 million received in connection with the termination and settlement of a paperboard supply agreement, net of legal fees in the period, that was mostly offset by $16.8 million of primarily higher start-up costs and lost production after the major capital investments at our Hodge, LA mill relative to our expectations at the beginning of the quarter.

RockTenn’s restructuring and other costs and operating losses and transition costs due to plant closures, net of related noncontrolling interest were $0.19 per diluted share after-tax, for the fourth quarter of fiscal 2012. These costs consisted primarily of $11.5 million of pre-tax integration and acquisition costs, including professional services, employee and other costs, and $11.4 million of pre-tax facility closure charges primarily related to corrugated container and recycled facilities acquired in the Smurfit-Stone Acquisition.

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11.02.2012

Nova Scotia paper plant closing down

A paper mill in Nova Scotia has announced it will shut down next month and throw 135 workers out of a job, saying it is succumbing to the same competitive pressures that plague most plants in the industry.

A letter to employees posted on the website of Minas Basin Pulp and Power Company Ltd. said it hoped a restructuring of operations last year and changes to pricing would make the Hantsport plant sustainable.

“However, after several years of challenge, the board (of Scotia Investments Ltd.) has concluded that it is time to recognize the mill is at the end of its cycle,” said the letter. “Long-term sustainability cannot be achieved.”

The company said challenges in the marketplace, competition from plants using newer and more efficient technology, and rising operational costs are too difficult to overcome.

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11.01.2012

The Bon-Ton Stores, Inc. Announces October Sales

The Bon-Ton Stores, Inc. today announced comparable store sales in the four weeks ended October 27, 2012 increased 3.7%. Total sales increased 3.7% to $199.1 million in the current year compared with $192.0 million in the prior year period.

For the third quarter of fiscal 2012, comparable stores sales increased 1.9%. Total sales for the thirteen weeks ended October 27, 2012 increased 1.9% to $668.7 million compared with $656.1 million for the prior year period.

Year-to-date comparable store sales increased 0.3%. Year-to-date total sales increased 0.2% to $1,904.4 million compared with $1,901.4 million in the same period last year.

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11.01.2012

Costco Wholesale Corporation Reports October Sales Results

Costco Wholesale Corporation today reported net sales of $7.67 billion for the month of October, the four weeks ended October 28, 2012, an increase of nine percent from $7.01 billion during the similar four-week period last year.

For the first nine weeks of its reporting period ended October 28, 2012, the Company reported net sales of $16.98 billion, an increase of nine percent from $15.62 billion during the similar period last year.

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11.01.2012

Limited Brands Reports October 2012 Sales and Increases Third Quarter Earnings Guidance

Limited Brands, Inc. reported a comparable store sales increase of 3 percent for the four weeks ended Oct. 27, 2012, compared to the four weeks ended Oct. 29, 2011. The company reported net sales of $611.0 million for the four weeks ended Oct. 27, 2012, compared to net sales of $652.4 million last year.

The company reported a comparable store sales increase of 5 percent for the third quarter ended Oct. 27, 2012, compared to the third quarter ended Oct. 29, 2011. The company reported net sales of $2.050 billion for the third quarter ended Oct. 27, 2012, compared to net sales of $2.173 billion last year.

The company reported a comparable store sales increase of 7 percent for the 39 weeks ended Oct. 27, 2012, compared to the 39 weeks ended Oct. 29, 2011. The company reported net sales of $6.603 billion for the 39 weeks ended Oct. 27, 2012, compared to net sales of $6.849 billion last year.

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11.01.2012

Norske Skog, Third quarter 2012: Good cash flow and lower debt

Good capacity utilisation, with high export levels and lower costs, counteracted the effects of the weak market development in Europe and Australia. The significant reduction in debt was a result of strong cash flow.

Gross operating earnings in the third quarter were NOK 365 million, compared to NOK 393 million in the previous quarter. The weak markets in Europe and Australasia were offset by lower variable- and fixed costs and effective production adjustments.
- Despite very challenging markets, we have been able to implement effective production adjustments, considerable cost reductions and a significant debt reduction this year, says President and CEO in Norske Skog, Sven Ombudstvedt.

Cash flow from operating activities (before financial items) was NOK 550 million, an improvement of NOK 162 million from the same quarter last year. The good cash flow for the period was a result of an effective realisation of trade receivables and reduction of inventories. Net interest-bearing debt during the quarter decreased from NOK 6.9 billion to NOK 6.3 billion, and has decreased by NOK 1.6 billion this year, primarily due to cash flow from operating activities and asset sales.
- We have had a significant decrease in debt of NOK 1.6 billion so far this year. This helps to strengthen our financial position going forward, says Ombudstvedt.

The net loss for the period was NOK 433 million, compared with a loss of NOK 1 841 in the corresponding quarter last year. Operating revenue was NOK 4 115 million, compared with NOK 4 799 million in the same quarter last year. The decrease was due to reduced production capacity after the divestment of Bio Bio and the closure of Follum, combined with lower sales volumes in a weak market.

The sale of the Parenco mill to H2 Equity Partners in the Netherlands was completed on 2 October.

During the quarter, Norske Skog announced the closure of a newsprint machine at the Tasman mill in New Zealand, and conversion of a newsprint machine to magazine paper production at the Boyer mill in Australia. This will result in a total closure of around 250 000 tonnes of newsprint capacity in Australasia.

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11.01.2012

Sandy Seals The Deal On Zero Ad Growth For 2012

Superstorm Sandy’s economic effects on the central media region of the Northeast will be felt in many ways for months to come. On the advertising front, the storm has battered an already weakening environment, according to Pivotal Research’s Brian Wieser in his latest revised outlook for final 2012 results.

After most agency holding companies reported tepid growth in the last week, a soft second half of the year was apparent. “And then Superstorm Sandy arrived, making us certain that 2012 will prove to be a year without growth for the US advertising economy,” writes Wieser in a research note to investors.

Pivotal is reducing its previous projections for ad industry growth downwards from 1.2% for the third quarter and .9% for the fourth to -.5% and -1.4% respectively. Political advertising and the Olympics are excluded to normalize the estimates. The net effect is 0% growth for the year. Wieser sees both Web goliaths Google and Facebook outperforming everyone else, however.

In addition to general weakness among agency holding companies and comments from marketers on corporate earning calls this season, Wieser says Sandy will cost the industry at least $500 million in lost activity.

For the magazine sector, Pivotal is predicting 2012 will end with -7.9% growth with $12.7 billion in ad spend. The research firm is expecting another decline of 6.7% next year as well.

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11.01.2012

Metsä Group’s operating result for January–September EUR 181 million

Metsä Group Interim Report 1–9/2012 Stock Exchange Release 1 November 2012 at 12 noon

Result for January–September
– Sales amounted to EUR 3,773 million (1–9/2011: EUR 4,123 million).
– Operating result excluding non-recurring items was EUR 181 million (311). Operating result including non-recurring items was EUR 161 million (229).
– Result before taxes excluding non-recurring items was EUR 106 million (217). Result before taxes including non-recurring items was EUR 86 million (130).

Result for July–September 2012
– Sales totalled EUR 1,242 million (7–9/2011: EUR 1,317 million).
– Operating result excluding non-recurring items was EUR 67 million (63). Operating result including non-recurring items was EUR 56 million (44).
– Result before taxes excluding non-recurring items was EUR 35 million (35). Result before taxes including non-recurring items was EUR 25 million (17).

Events in the third quarter of 2012
– Pulp deliveries improved on the previous quarter, but market prices decreased. Delivery volumes of paperboard increased on the previous quarter, with prices remaining stable.
– Metsä Wood decided to invest EUR 30 million in upgrading its Vilppula sawmill. The investment will be carried out in 2013.
– A new paper machine was commissioned in Metsä Tissue’s Krapkowice mill in Poland. The investment programme includes two new paper machines, the second of which will be commissioned next year.
– The bark gasification plant at Metsä Fibre's Joutseno mill was introduced for trial use in July. With this plant, the mill will be the first carbon dioxide neutral pulp mill in Finland.

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11.01.2012

Glatfelter Reports Third Quarter 2012 Results

Glatfelter today reported 2012 third quarter adjusted earnings of $19.4 million, or $0.44 per diluted share, compared with $12.8 million, or $0.28 per diluted share, in the 2011 third quarter. On a GAAP basis, third quarter 2012 net income totaled $20.1 million, or $0.46 per share, compared with $13.0 million, or $0.28 per share, in the third quarter of 2011. Consolidated net sales in the third quarter of 2012 totaled $404.4 million, a 2.9 percent decrease from the third quarter of 2011 primarily due to unfavorable foreign currency translation. On a constant currency basis, net sales were slightly higher.

“Our third quarter results reflect solid performance from our Specialty Papers business which delivered top-line growth, again outperforming the broader uncoated freesheet market, and it significantly increased operating income,” said Dante C. Parrini, chairman and chief executive officer. “Additionally, our Composite Fibers and Advanced Airlaid Materials businesses, although challenged by difficult economic conditions in Europe, each reported improved operating results, largely due to lower input costs and our ongoing focus on continuous improvement initiatives. We increased adjusted earnings per share by 57 percent and business unit operating income by 16 percent, reflecting the strength of our diversified business model and our North American market positions. Further, in early October 2012, we completed a $250 million offering of 5.375 percent notes, replacing our existing notes. Together with the 2011 refinancing of our revolving credit facility, this transaction significantly reduces our cost of capital and maintains our very strong financial position.”

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11.01.2012

Wenner Media Strikes Content Deal with Yahoo

While digital content partnerships between publishers have been a common tactic for driving traffic and branding from one site to another, less common are dedicated pages shared between the two. Such is the deal that Yahoo and Wenner Media announced today, with Yahoo's omg! and Yahoo Music featuring mini-sites and blended content from Us Weekly and Rolling Stone. Likewise, UsMagazine.com and RollingStone.com will feature Yahoo-branded channels.

Taking the syndication deal a step further, Us Weekly and Rolling Stone print magazines will also feature Yahoo content.

According to the partnership, the two companies will pool editorial resources to contribute content across the sites. Wenner's Men's Journal will also provide its content to Yahoo, making it the first time the brand has appeared on the network.

The partnership gives Wenner a huge upside on scale. According to September comScore numbers, Usmagazine.com and Rollingstone.com attracted 6.7 million and 3.1 million uniques, respectively. omg! and Yahoo Music attracted 28 million and 18.1 million uniques.

Those numbers, along with the dedicated landing pages, will drive more traffic back to the Wenner brands, of course, but they also provide a key business opportunity. "Even though Us Weekly and Rolling Stone are terrific brands, the scale is relatively small in terms of the ever-increasing traffic advertisers are looking for," says David Kang, Wenner Media's chief digital officer. "Rolling Stone and Us Weekly often create great custom programs, but we are unable to deliver the kind of scale advertisers want."

Kang describes the Wenner brands as high-quality, boutique content sources for Yahoo's mass-market reach. "Now we're able to offer the boutique editorial treatment and all the scale you'd ever want."

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11.01.2012

Canfor Reopens Radium Sawmill

Canfor Corporation officially reopened its operations at Radium Hot Springs, B.C. on October 29, following a $38.5-million capital investment to upgrade the sawmill and build a new planer mill. When the mill is running at full capacity in 2013, it is expected to produce 240 million board feet annually and directly employ 144 people.

“This investment shows how optimistic Canfor is about the future of our industry and this region,” Canfor President and CEO Don Kayne said at the official reopening event October 31. “The mill has been totally reconfigured so it can produce high-quality lumber products for customers around the globe, and do so efficiently and competitively.”

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11.01.2012

Oil Trades Near 3-Day High as Refineries Resume

Oil traded near the highest level in three days in New York as U.S. East Coast refineries resumed operations in the aftermath of Atlantic superstorm Sandy, increasing crude demand.

West Texas Intermediate futures were little changed after rising 0.7 percent yesterday. East Coast refineries accounting for 76 percent of the 1.29 million barrels a day of capacity in Sandy’s path have restored operations or are in the process of doing so. Price gains stalled before an Energy Department report today that may show U.S. crude stockpiles rose to the highest level in three months ahead of the storm.

“Refineries are getting back online quickly, so clearly that is going to remove some of that concern about a temporary oversupply,” said Michael McCarthy, a chief market strategist at CMC Markets in Sydney. “I’m expecting further pressure on prices in the next week or so from inventory builds.”

Crude for December delivery was at $86.32 a barrel in electronic trading on the New York Mercantile Exchange, up 8 cents, at 9:34 a.m. in London.

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11.01.2012

American Forest & Paper Association Releases September 2012 Printing-Writing Paper Report

The American Forest & Paper Association has released its September 2012 Printing-Writing Paper Report.

According to the report, total printing-writing paper shipments decreased 7 percent in September compared to September 2011. All four major printing-writing grades posted decreases compared to the previous period. The decrease in shipments followed the drop in U.S. purchases of printing-writing papers by 10 percent compared to September 2011.

Additional key findings include:
August U.S. imports of coated free sheet (CFS) papers decreased year-over-year for the tenth time in the past 12 months.
August U.S. exports of uncoated free sheet (UFS) papers increased year-over-year by more than 20 percent – the third 20+ percent increase in 2012.
September shipments of coated mechanical (CM) papers reach second highest monthly total for the year but are still down year-over-year.

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11.01.2012

RR Donnelley Reports Third-Quarter 2012 Results

R.R. Donnelley & Sons Company today reported third-quarter 2012 net earnings attributable to common shareholders of $71.4 million, or $0.39 per diluted share, on net sales of $2.5 billion compared to net earnings of $158.0 million, or $0.83 per diluted share, on net sales of $2.7 billion in the third quarter of 2011. Third-quarter 2012 net earnings attributable to common shareholders included pre-tax charges for restructuring ($12.3 million) and impairment ($1.6 million, non-cash), acquisition-related expenses ($1.3 million) and a tax provision related to certain foreign earnings no longer considered to be permanently reinvested ($11.0 million). Third-quarter 2011 net earnings attributable to common shareholders included pre-tax charges for restructuring ($23.6 million) and impairment ($10.6 million, non-cash), a loss on debt extinguishment ($1.3 million) and acquisition-related expenses ($0.7 million), partially offset by the recognition of previously unrecognized tax benefits ($77.4 million, non-cash).

Net sales in the quarter were $2.5 billion, down $174.5 million, or 6.5%, from the third quarter of 2011. Pro forma for acquisitions, net sales decreased 6.9% due to volume declines, a 118 basis point unfavorable impact of changes in foreign exchange rates, price erosion and a 46 basis point unfavorable impact of lower pass-through paper sales. Gross margin of 22.8% in the third quarter of 2012 declined from 23.4% in the third quarter of 2011 as unfavorable pricing on by-products, volume declines and pricing pressure more than offset lower variable compensation expense, productivity improvements and lower pension expense. SG&A expense as a percentage of net sales in the third quarter of 2012 improved to 10.1% from 11.1% in the third quarter of 2011, primarily due to productivity improvements resulting from focused cost reduction actions, lower pension expense and lower variable compensation expense. Operating earnings in the third quarter of 2012 were $186.7 million, which were impacted by restructuring and impairment charges and acquisition-related expenses totaling $15.2 million, compared to operating earnings in the third quarter of 2011 of $156.8 million, which included restructuring and impairment charges and acquisition-related expenses totaling $34.9 million.

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11.01.2012

Macy's, Inc. Same-Store Sales Up 4.1% in October

Macy’s, Inc. today reported total sales of $1.908 billion for the four weeks ended Oct. 27, 2012, an increase of 3.6 percent compared with total sales of $1.842 billion in the four weeks ended Oct. 29, 2011. On a same-store basis, Macy’s, Inc. sales were up 4.1 percent in October as compared to October 2011.

“Business was strong in October, and we delivered a solid performance in the third quarter,” said Terry J. Lundgren, chairman, president and chief executive officer of Macy’s, Inc. “The key growth strategies we put in place three years ago continue to provide us new opportunities for continuous improvement in driving sales. We are feeling confident about our prospects for the upcoming holiday season and have increased our sales guidance for the fall season, despite the interruption caused by Hurricane Sandy in the first few days of the fourth quarter.”

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11.01.2012

Target Reports October Sales Results

Target Corporation today reported that its net retail sales for the four weeks ended October 27, 2012 were $4,982 million, an increase of 3.0 percent from $4,839 million for the four weeks ended October 29, 2011. On this same basis, October comparable-store sales increased 2.4 percent.

“While Target’s October comparable-store sales were near the low end of our expected range, our third quarter comparable-store sales increase of 2.9 percent was in line with our guidance,” said Gregg Steinhafel, chairman, president and chief executive officer of Target Corporation. “As we enter the fourth quarter we feel very good about our holiday season merchandising and marketing plans and our ability to deliver outstanding value for our guests while generating strong financial performance for our shareholders. With programs like 5% REDcard Rewards and Holiday Price Match our guests can shop at Target with confidence – knowing they’re getting the best prices on a unique assortment of holiday wants and needs.”

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11.01.2012

Resolute Forest Products Issues Sustainability Report for 2011 Performance

Resolute Forest Products (NYSE: RFP) (TSX: RFP) released its Sustainability Report for 2011 Performance today, detailing Company efforts to balance environmental, social and economic considerations. The report also publicly introduces Resolute's first company-wide sustainability strategy which has three primary areas of focus:
• Reinforce Resolute's environmental credentials, taking appropriate steps to responsibly manage its environmental footprint;
• Position the Company as a competitive employer, attracting and retaining employees based on opportunities to quickly learn and grow within a dynamic organization; and
• Build solid community relations in Resolute's operating locations, recognizing that economically viable and civically involved companies support long-term regional prosperity.

Resolute's key sustainability accomplishments outlined in the report include:
• Becoming a member in the World Wildlife Fund's prestigious Climate Savers program, which helps companies set and achieve ambitious emission reduction targets. In 2011, the Company reduced its GHG emissions by 6% from 2010 levels, a 62% decrease versus 2000 levels.
• Increasing efforts to certify more Company-managed woodlands operations through the Forest Stewardship Council® (FSC) Sustainable Forest Management standard, leading to the Company becoming the world's largest manager of FSC-certified forests in 2012.
• Creating a management-level sustainability committee which prepared and is responsible for implementing Resolute's new corporate sustainability strategy.
• Completing a major life-cycle assessment of the Company's eco-friendly family of papers in 2011. These papers were launched in 2012 under the Align™ brand name.

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