Paperclips Blog | Wausau Paper Results

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• 05.11.2012

  Houghton Mifflin Harcourt Reaches Agreement with Lenders and Investors

  Global education leader Houghton Mifflin Harcourt (HMH) today announced that it has reached an agreement with more than 70% of its senior secured lenders and bondholders on the terms of a comprehensive financial restructuring plan to convert HMH’s outstanding long-term debt to equity and create an appropriate capital structure to support the Company’s strategic plan and business objectives.

  Acceptance of this plan is currently being solicited by the Company from its broader lender, bondholder and shareholder constituencies. If approved by the requisite percentages and implemented as proposed, HMH will eliminate $3.1 billion of debt and reduce current annual cash interest costs by approximately $250 million, providing the Company with greater liquidity and financial flexibility as it pursues growth opportunities in the digital, consumer and international markets.

  “We are excited to have reached an agreement with our lenders and bondholders on a financial restructuring plan that will equitize our current long-term debt and put HMH in a financially stronger position for the future,” said Linda K. Zecher, President and Chief Executive Officer of HMH. “With a more appropriately-sized capital structure and greater financial flexibility, along with our world-class brand and innovative digital education solutions, we will be well-positioned to accelerate our growth initiatives and expand our digital platform.”

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• 05.11.2012

  Inside Columbia Magazine Brings Vertical Integration In-House

  When Inside Columbia—a city and regional magazine targeting the residents of Columbia, Missouri—relocated its headquarters in a building constructed in the 1940s, it discovered an opportunity for a unique brand expansion—a cooking school.

  The magazine has had a focus on the food category, one of six core competencies it identified a few years ago in a vertical integration strategy: It hosts culinary trips where 30-60 readers are brought on a cooking adventures to foodie cities such as New York, Sonoma and New Orleans; produces a week-long wine and food festival; and publishes wine newsletters.

  As the building was being remodeled to accommodate the magazine's new offices, there was plenty of space left over—"We realized we could do a cooking school in there," publisher Fred Parry says.

  But rather than simply being an added, and incremental, revenue opportunity to offer cooking classes to readers, the space took on a host of side benefits and new business models. "In addition to allowing us to deepen our commitment to the category, it also builds community by bringing the audience into the building. It created a greater engagement with readers that we didn't anticipate."

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• 05.11.2012

  Gap launches digital and social campaign

  Gap launched a digital and social marketing campaign May 10, said Rachel Tipograph, global director of digital and social media at the Gap. The “Be Your Own T” campaign accompanies the launch of a new t-shirt collection and includes several digital experiences, including a Facebook initiative.

  Part of the campaign is called T.I.Y—a play on D.I.Y.—that shows customers how to “upcycle” old t-shirts into new items, such as flip flops, the company said. “For T.I.Y., the experience lives across Facebook, Twitter, Instagram, Pinterest and blogs,” Tipograph  said “Communities like Facebook, Twitter and Pinterest are an integral part of consumers' lives, so it's important that we engage with them on these properties.”

  “For T.I.Y., we are releasing a new project every Friday within our social channels for eight weeks,” she said. T.I.Y was created in partnership with Threadless.

  The other digital aspect of the launch, called Styld.by, is a partnership with Gap and several blogs, including Refinery29, Rue and WhoWhatWear, Tipograph said. Styld.by is a way for the Gap to collaborate with these blogs and to introduce new content and items through them, the company said in a statement. It's like a catalog, the company said, but the partners get to curate content and engage readers, too.

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• 05.11.2012

  Catalyst Paper Q1 results impacted by restructuring costs

  Catalyst Paper recorded a net loss of $25.6 million in the first quarter of 2012 due primarily to the impact of restructuring and reorganization expenses of $27.6 million. Before specific items, the net loss was $9.6 million. This compared with a net loss of $708.0 million and $41.7 million before specific items in the fourth quarter which was impacted by significant impairment charges on Canadian operations and on Snowflake mill lands, restructuring costs and foreign exchange.
   
  Earnings before interest, tax, depreciation and amortization (EBITDA) in the first quarter was $18.1 million and EBITDA before restructuring costs was $23.3 million compared with EBITDA of $2.8 million and EBITDA before restructuring costs of $8.7 million in the prior quarter.
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• 05.11.2012

  Oil Heads for Second Weekly Drop as Supply Exceeds Demand

  Oil fell in New York, heading for a second weekly drop, on concern that Europe’s debt crisis will worsen and curb fuel demand as global crude supplies increase.

  Futures slipped as much as 1.4 percent, retreating for the seventh day in eight. OPEC is producing 8.3 percent more crude than it considers necessary this quarter, data released yesterday by the Vienna-based group showed. Prices narrowed their declines after the International Energy Agency said today global oil markets are “marginally tighter” and predicted that geopolitical risks to crude supply will keep prices high.

  “The recent correction is to do with the broader risk-off mode,” Harry Tchilinguirian, head of commodity-markets strategy at BNP Paribas SA in London. “We had been building up to a correction as a result of higher OPEC supply and a whole string of crude inventory gains in the U.S. But fundamentals are sufficient to maintain the price above $95.”

  Crude for June delivery fell as much as $1.34 to $95.74 a barrel in electronic trading on the New York Mercantile Exchange, and was at $96.05 at 10:47 a.m. London time. The contract yesterday rose 27 cents to $97.08. Prices are 2.5 percent lower this week and down 2.8 percent this year.

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• 05.11.2012

  Postal Service Losses of $3.2 Billion in Second Quarter Underscore the Need for Legislative Changes

  The Postal Service ended its second quarter (Jan. 1 – March 31) with a net loss of $3.2 billion, compared to a net loss of $2.2 billion for the same period last year.  Despite ongoing management actions that have grown and improved efficiency, the losses will continue until key provisions of the Postal Service five-year business plan move forward.
   
  Without the impact of the non-controllable costs related to mandated retiree health benefit pre-funding payments and accounting for non-cash adjustments for worker’s compensation, the non-GAAP loss for the quarter was $486 million compared to $469 million for the same period last year as shown in Table I below.
   
  The losses are due primarily to legislative mandates such as the unique mandated pre-funding of retiree health benefits, and prohibiting management from making the needed operational and human resource changes required to address these issues under current laws and contracts.  Also contributing to the continuing losses are the declining First-Class Mail and Standard Mail volumes. The Congress must act soon to pass legislation providing the Postal Service with the flexibility and speed needed to make the changes necessary for long-term financial viability.
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• 05.11.2012

  AAA Fuel Gage & Exchange Rates

  AAA’s Fuel Gage Report as of 5/11/12
  National Unleaded Regular:
  Current Average - $3.734/gallon
  Month Ago Average - $3.915/gallon
  Year Ago Average - $3.962/gallon
  Highest Recorded Average - $4.114/gallon on 7/17/08
  Diesel:
  Current Average - $4.054/gallon
  Month Ago Average - $4.161/gallon
  Year Ago Average - $4.144/gallon
  Highest Recorded Average - $4.845/gallon on 7/17/08

  Current Exchange Rates as of 5/10/12
  American Dollar to Canadian Dollar = 1.00124 (120 day high - 1.01905 on April 26, 2012; low 0.950905 on November 25, 2011)
  American Dollar to Chinese Yuan = 0.15837 (120 day high – 0.159363 on May 2, 2012; low 0.156639 on November 28, 2011)
  American Dollar to Euro = 1.2961 (120 day high - 1.3511 on December 2, 2011; low 1.2669 on January 16, 2012)
  American Dollar to Japanese Yen = 0.0125457 (120 day high – 0.0131387 on February 2, 2012; low 0.0119026 on March 21, 2012)
  American Dollar to Mexican Peso = 0.0744879 (120 day high – 0.0793808 on March 14, 2012; low 0.0700535 on November 25, 2011)

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• 05.11.2012

  Preliminary April printing & writing statistics (UBS)

  PPPC preliminary N American printing/writing stats show a much narrower y/y shipment decline vs March (-5.5% vs -12.4%), but this was supported by a significantly easier comp. Absolute shipments fell 6.6% m/m-to the lowest level in any month since at least 2000. Utilization fell 400bp m/m but was flat y/y. Current op rate is 400bp below levels we view as balanced. YTD utilization is off 100bp.

  Uncoated free shipments fell 4.7% y/y (-2.2% ytd). While this was weaker than the coated trend, uncoated free faced a comp 1000+ bp tougher than any other grade in April. Utilization fell a steep 600bp m/m-but off a fairly high level. April op rate was still 100bp above the print/write avg. Uncoated groundwood continues to post weakest shipment trend, off 12.2% y/y in April (-17.8% ytd). But it posted flat utilization and highest op rate of any grade in April (400bp > print/write avg).

  Coated paper shipments only fell 2% y/y in April-improved from 13% declines in Mar. But the April comps were 1300-1500bp easier than in March. Coated free utilization fell a further 300bp m/m-off an already low base. The April op rate was 500bp weaker than the print/write avg. Coated groundwood utilization also fell 300bp m/m and trailed all printing & writing by 300bp in the month.

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• 05.11.2012

  Grainger Reports April 2012 Sales Results

  Grainger today reported sales results for the month of April 2012.  Daily sales increased 12 percent versus April 2011.  Results for the month included a 5 percentage point contribution from acquisitions.  Excluding acquisitions, organic sales increased 7 percent, including 5 percentage points from volume and 3 percentage points from price, partially offset by a 1 percentage point decline from foreign exchange.  April 2012 had 21 selling days, the same as April 2011.  The 2012 second quarter will have the same number of selling days as the 2011 second quarter (64 days).
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• 05.10.2012

  CVS Caremark Reports Record First Quarter Results

  CVS Caremark Corporation today announced revenues, operating profit and net income for the three months ended March 31, 2012.

  First Quarter and Year-Over-Year Highlights:
  •Net revenues increased 19.9% to a record $30.8 billion, with Pharmacy Services up 32.3% and Retail Pharmacy up 9.9%
  •Retail Pharmacy segment same stores sales increased 8.4%
  •Adjusted EPS of $0.65, up 14.7%; GAAP diluted EPS from continuing operations of $0.59
  •Generated free cash flow of $2.4 billion; cash flow from operations of $2.8 billion

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• 05.10.2012

  The Yankee Candle Company, Inc. Reports Fiscal 2012 First Quarter Results

  Yankee Holding Corp. and The Yankee Candle Company, Inc. today announced financial results for the first quarter ended March 31, 2012.  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 first quarter of 2012 were $155.1 million, an increase of $11.0 million or 7.6% from the prior year first quarter.  Retail sales were $81.0 million, an increase of $6.2 million or 8.3% from the prior year quarter. Sales in the Company's Wholesale segment were $50.2 million, an increase of $2.7 million or 5.7% versus the prior year first quarter.  Sales in the Company's International segment were $23.9 million, an increase of $2.0 million or 9.3% from the first quarter of fiscal 2011.  The Company recorded a net loss of $3.5 million for the first quarter of 2012 compared to a net loss of $5.3 million for the first quarter of 2011.  

  The Company presents Adjusted EBITDA (as defined below) to provide investors with additional information to evaluate the Company's operating performance and its ability to service its debt.  Adjusted EBITDA for the first quarter of 2012 decreased by 3.8% to $20.0 million, or 12.9% of sales, as compared to Adjusted EBITDA for the prior year first quarter of $20.8 million, or 14.5% of sales. 

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• 05.10.2012

  Quad/Graphics Reports First Quarter 2012 Results

  Quad/Graphics, Inc. today reported results for its first quarter ending March 31, 2012. For full financial results, please see the accompanying information.

  “Our performance during the first quarter gave us a solid start to the year,” said Joel Quadracci, Quad/Graphics Chairman, President & CEO. “Our results are in line with our expectations and we are pleased with the progress we made on our key priorities to improve productivity, reduce costs, lower our debt and meet our synergy objectives, which enabled us to generate significant Recurring Free Cash Flow and improve upon our already strong credit metrics.”

  Net sales for the first quarter 2012 were $990 million versus $1,022 million for the same period in 2011. First quarter 2012 Adjusted EBITDA was $126 million versus $142 million for the same period in 2011. The results reflect expected volume and pricing pressures, which were partially offset by continued productivity improvements and incremental synergy savings totaling $25 million during the quarter and $221 million since the Worldcolor acquisition. Recurring Free Cash Flow was $107 million, demonstrating the Company's ability to generate strong, consistent cash flow.

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• 05.10.2012

  Sappi Limited Results for the Second Quarter Ended March 2012

  •Profit for the period US$58 million (Q2 2011 loss US$74 million)
  •EPS 11 US cents (Q2 2011 loss per share 14 US cents)
  •Net cash generated US$91 million (Q2 2011 US$100 million)
  •Net debt US$2,133 million, down US$42 million from Q1 2012
  •Cost savings led to improved performance in European business
  •Southern African chemical cellulose business continues strong performance

  Commenting on the results, Sappi Chief Executive Officer Ralph Boettger said:

  "The improving trend in operating performance continued in the quarter, with the European and North American businesses in particular showing good improvement. The group achieved a net profit for the period of US$58 million (Q2 2011 US$74 million loss) and EPS of 11 US cents (Q2 2011 loss of 14 US cents) in the second quarter of the 2012 financial year.

  "The performance of the European business was particularly pleasing, following the relentless focus on cost reduction in that region.  Market conditions for coated paper have been weaker than in the equivalent period last year, but despite this, our operating rates remained good in both Europe and North America as a result of management action. Variable costs and fixed costs are generally lower, particularly in Europe, enabling margins to be maintained or widened.

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• 05.10.2012

  News Corporation Reports Third Quarter FY2012 Earnings

  News Corporation today reported third quarter revenue of $8.40 billion, a 2% increase over the $8.26 billion of revenue reported a year ago. The quarterly revenue increase was led by double-digit growth at the Company’s Cable Network Programming and Filmed Entertainment segments, partially offset by declines primarily at the Company’s Television segment due to the absence of revenues generated from the broadcast of the National Football League Super Bowl in the prior year.

  The Company reported third quarter total segment operating income(1) of $1.31 billion, a 23% increase over the $1.06 billion of total segment operating income reported a year ago. This improvement was led by a $111 million or 15% increase at the Cable Network Programming segment. The current quarter results include a $63 million charge ($0.02 per share) related to the costs of the ongoing investigations initiated upon the closure of The News of the World. The prior year results include a $125 million charge ($0.03 per share) at the Company’s integrated marketing services business related to the settlement of litigation. Excluding these charges from both years, respectively, this year’s third quarter adjusted total segment operating income of $1.38 billion increased $187 million or 16% from $1.19 billion in the prior year.

  The Company reported third quarter net income of $937 million ($0.38 per share), as compared to net income of $639 million ($0.24 per share) reported a year ago. This year’s third quarter results include a $111 million pretax gain from the Company’s participation in British Sky Broadcasting’s (“BSkyB”) share repurchase program, which is reflected in Equity earnings of affiliates, as well as $27 million of pre-tax income in Other, net, principally reflecting a gain on the sale of the Company’s stake in Hathway Cable. These gains were partially offset by a $27 million pre-tax Impairment and restructuring charge primarily related to the international newspaper operations. Excluding the net income effects of these items, the charge related to the investigations in the U.K., and comparable items in the prior year, third quarter adjusted earnings per share(2) this year are $0.37 compared with the adjusted year-ago result of $0.26.

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• 05.10.2012

  ComScore: Online spending increases 17% to $44.3 billion in Q1

  Online U.S. retail spending reached $44.3 billion in first quarter 2012, up 17% versus a year ago, according to comScore’s Q1 2012 Retail survey. It was the tenth consecutive quarter of positive year-over-year growth and sixth consecutive quarter of double-digit growth.
   
  In other findings, 38% of tablet owners have made a purchase on their devices within the past month. Apparel was the most popular category for purchase among tablet shoppers.

  “The first quarter of this year was especially strong for retail e-commerce as we returned to year-over-year growth rates in the high teens, numbers we haven’t seen since 2007,” said comScore chairman Gian Fulgoni. “While the economic recovery continues to be painfully slow, the channel shift to e-commerce appears to be accelerating. This presents opportunities but also challenges for brick-and-mortar retailers if they can’t hold onto their offline market share in the digital world.”

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• 05.10.2012

  Bare Necessities Launches Two Digital Catalogs

  Hoping to cash in on the burgeoning tablet commerce market, intimate apparel merchant Bare Necessities has launched two new digital catalogs designed specifically for a tablet shopping experience. They’re available via the free Google Catalogs and Catalog Spree tablet apps for both iPad and Android, and can be accessed on BareNecessities.com as well.

  The first new catalog is Bare Necessities' swimwear collection (29 pages), featuring brands such as SPANX, Elomi, Freya, and Fantasie. The second digital catalog highlights Bare Necessities' spring bra and lingerie collection from Wacoal (21 pages) designed for an interactive, tablet environment.

  Jay Dunn, chief marketing officer for Bare Necessities, believes today’s technology along with the popularity and interactivity of tablets such as the iPad and Kindle Fire will change the way customers shop from catalogs. Dunn started at Bare Necessities last July.

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• 05.10.2012

  Digital Mag Store Magzter Aims for Global Reach

  While the U.S. tablet market still enjoys the bulk of device sales, Apple and other manufacturers are seeing surprising growth around the world. Publishers have the opportunity to leverage the international reach of tablets in new ways. One of the up and coming platforms in the space, Magzter, says it is seeing distribution and promotional success in a wide range of new places. “We had 25 titles four months ago and now we have 400,” says CEO Girish Ramdas. started last year with a core of Indian titles in its digital edition newsstand. “We should have 2,000 by the end of the year,” he says. It already handles a number of Hearst's international extensions of core U.S. brands.

  Magzter still has a way to go, of course. Zinio’s container app for digital editions is ranked as the 4th highest grossing app in the News category at the Apple iPad App Store, while Magzter is 80th. The company claims to have 100 standalone apps in the Newsstand, including the recently launched Columbia Journalism Review. Ramdas says they have had 2.5 million downloads of the app.

  While Ramdas is talking with multiple U.S. publishers about building both their domestic and international editions apps, he is seeing considerable growth overseas as Magzter enters the Asian, Chinese and Singapore markets. They will be launching Arabic versions soon. “We didn’t expect the Asian markets to have this many iPads and iPhones,” he says. The titles the company represents have seen good relations with Apple overseas, where they will be featured on the localized App Store.

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• 05.10.2012

  St. Louis Area Printing Company, Nies/Artcraft, Consolidates Operations in New, Environmentally Aware Building

  After operating out of three sites for many years, St. Louis-based commercial printer Nies/Artcraft, a Consolidated Graphics, Inc. company, will consolidate two of its current facilities into a single, new location.  The company executed a lease on ­­April 2, 2012 for a new building located at 3049 Chouteau Avenue, St. Louis, MO, 63103.

  The building was designed and built by Clayco, and includes 103,519 square feet of flexible work space. Numerous locations were considered for the move, but one of the winning qualities of the Choteau location was its open layout. By having a completely open floor plan, Nies/Artcraft’s production management team was able to work with Clayco to create a layout specific to its work flow needs.

  “The benefits of being able to design a workspace, rather than having to try and fit your work into a space, are substantial. From providing estimates to shipping finished products out the door, the streamlined production workflow enabled by the Choteau facility will allow us to work much more efficiently,” said Nies/Artcraft President James Hill.  “Our facility consolidation will improve the way we collaborate with one another and with our clients, creating a great new customer experience. We are excited to be taking this step forward and looking forward to completing our move in September of this year,” he said.

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• 05.10.2012

  Cenveo Announces First Quarter 2012 Results

  Cenveo, Inc. today announced results for the three months ended March 31, 2012.

  The Company generated net sales of $455.6 million for the first quarter of 2012, compared to $477.0 million in the first quarter of 2011. The decrease in net sales was primarily due to lower sales in our print and envelope product lines as a result of customer product launches in the first quarter of 2011 that did not repeat in the first quarter of 2012 and lower direct mail volumes from our financial services customers. The Company expects the direct mail market to strengthen in the second half of 2012. The Company’s custom label and specialty packaging products both displayed strong growth relating to customer wins and sales channel expansion.

  Operating income was $14.2 million in the first quarter of 2012, compared to $19.3 million in the first quarter of 2011. The decrease in operating income was primarily due to increased restructuring, impairment and other charges as a result of a print plant closure and other cost savings actions executed in the first quarter of 2012, offset in part by our lower cost structure due to the integration of our Envelope Product Group (“EPG”) acquisition and lower compensation related expenses. Non-GAAP operating income was $31.6 million in the first quarter of 2012, compared to $31.5 million in the first quarter of 2011. Non-GAAP operating income excludes integration, acquisition and other charges, stock-based compensation provision, restructuring, impairment and other charges.

  In the first quarter of 2012, the Company had a net loss of $27.2 million, or $0.43 per share, compared to net income of $2.8 million, or $0.04 per share in the first quarter of 2011. The results in the first quarter of 2012 include a loss on early extinguishment of debt, net of $10.6 million related to our recent debt refinancing and restructuring, impairment and other charges of $14.0 million as a result of a print plant closure and other cost savings actions executed in the first quarter of 2012, while the results in the first quarter of 2011 included a preliminary bargain purchase gain of $10.5 million related to the EPG acquisition and restructuring, impairment and other charges of $3.8 million. On a Non-GAAP basis, income from continuing operations was $3.3 million, or $0.04 per share, in the first quarter of 2012 as compared to $1.1 million, or $0.02 per share, in the first quarter of 2012.

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• 05.10.2012

  Cascades reports improved results for the first quarter of 2012

  Cascades Inc., a leader in the recovery and manufacturing of green packaging and tissue paper products, announces its financial results for the three-month period ended March 31, 2012.

  In comparison with the same period last year, sales rose by 15% to $891 million as of result of higher selling prices, the net contribution of business acquisitions over divestitures and the full consolidation of the results of Reno de Medici (“RdM”) since Q2-2011 that more than offset lower volumes.

  The above-mentioned factors combined with lower raw material costs resulted in operating income, excluding specific items, amounting to $26 million compared to $1 million in Q1-2011. On a segmented basis, our Containerboard sector posted similar profitability. Our Tissue Papers and Specialty Products sectors surpassed 2011 first quarter's results due to improved productivity and lower recycled fiber costs. Our Boxboard sector in Europe benefited from the full consolidation from RdM since Q2-2011. When including specific items, the operating income amounted to $29 million in comparison to a loss of $6 million in the same period of last year.

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• 05.10.2012

  Oil Falls a Seventh Day, Longest Run of Losses Since 2009

  Oil fell for a seventh day in New York, its longest run of declines since December 2009, as hopes for a solution to Europe’s debt crisis receded, U.S. supplies rose and Chinese imports fell.

  West Texas Intermediate oil fell as much as 0.7 percent. Crude inventories rose 3.7 million barrels last week to 379.5 million, the highest level since 1990, even as fuel supplies shrank, Department of Energy data showed. The euro pared gains against the dollar as Greece struggled to form a government and the cost of insuring against a Spanish debt default increased to a record. China, the world’s second-biggest oil consumer, reduced net crude imports to the least in fourth months.

  “Prices have come down amid further Europe jitters, the stronger dollar, an absence of additional bad news in the Iranian situation and lower Chinese imports,” said Eugen Weinberg, head of commodities research at Commerzbank AG in Frankfurt. “But for WTI at least the drop might have been overdone.”

  WTI for June delivery fell as much as 66 cents to $96.15 a barrel in electronic trading on the New York Mercantile Exchange and was at $96.24 at 10:56 a.m. London time. The contract yesterday slid 20 cents to $96.81, the lowest close since Feb. 2.

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• 05.10.2012

  Kohl's Corporation Reports First Quarter Financial Results

  Kohl’s Corporation today reported results for the quarter ended April 28, 2012.

  Kohl’s Corporation reported first quarter net income of $154 million ($0.63 per diluted share) compared to $201 million ($0.69 per diluted share) a year ago. Net sales were $4.2 billion, an increase of 1.9 percent for the quarter. Comparable store sales for the quarter increased 0.2 percent.

  Kevin Mansell, Kohl’s chairman, president and chief executive officer, said, “Our first quarter results reflect the implementation of our strategy to initiate lower pricing in order to provide greater value to our customers. This planned action led to significantly lower gross margins for the quarter. Strong management of expenses allowed us to achieve our earnings goal for the quarter. We have accelerated new receipts into second quarter to ensure we are well-positioned from an inventory perspective for the Back-to-School season. The combination of these two actions should allow us to greatly improve our sales for the fall season.”

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• 05.10.2012

  Neenah Paper Reports 2012 First Quarter Results

  Neenah Paper, Inc. today reported adjusted earnings from continuing operations of $0.77 per diluted common share in the first quarter of 2012 compared to adjusted earnings of $0.54 per share in the first quarter of 2011. Excluding adjustments, earnings in the first quarter of 2012 of $0.54 per share compared to earnings of $0.45 per share in the prior year period. Items excluded from adjusted earnings in 2012 totaled $0.23 per share for a pension settlement charge and costs to integrate brands purchased from Wausau Paper Corp. on January 31. In 2011, adjusted earnings excluded $0.09 per share for costs associated with the early redemption of a portion of the Company’s long-term bonds. Adjusted earnings are reconciled to GAAP figures later in this release.

  Net sales of $198.2 million in the first quarter of 2012 grew 15 percent compared with the first quarter of 2011, while adjusted operating income of $22.2 million increased 29 percent. Operating income increased in both Technical Products and Fine Paper as a result of higher net pricing and cost efficiencies, with Fine Paper further benefitting from higher volumes related to the purchased brands.

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• 05.10.2012

  Resolute and Fibrek Cooperating for Smooth Transition

  AbitibiBowater Inc., doing business as Resolute Forest Products, today announced that Fibrek Inc. and Resolute are cooperating on an orderly transition to Resolute's effective control. The goal for both parties is to minimize any disruption to Fibrek's key relationships, including its employees, customers, suppliers and other partners.

  Following the filing of Fibrek's first quarter 2012 consolidated interim financial statements with the Canadian securities authorities, it announced that each member of the board had stepped down, effective immediately. Resolute is pleased to announce that the principal members of Fibrek's outgoing management team, including Pierre Gabriel Côté, chief executive officer, and Patsie Ducharme, chief financial officer, have agreed to assist in the transition process as special advisors until May 31, 2012.

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• 05.10.2012

  Ahlstrom announces price increases for its Label and Processing papers worldwide

  Ahlstrom, a global high performance materials company, announces price increases on its specialty paper materials produced by the Label and Processing business area, as a consequence of the recent rises in raw material and energy costs.

  The price increase will affect all Label and Processing products worldwide and will be effective for all shipments made as of June 1, 2012. The increase range will vary depending on the products and markets. Specific details will be discussed with each customer individually.

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• 05.10.2012

  New Strategy to Preserve the Nation’s Smallest Post Offices

  The U.S. Postal Service announced a new strategy today that could keep the nation’s smallest Post Offices open for business, while providing a framework to achieve significant cost savings as part of the plan to return the organization to financial stability.
   
  The plan would keep the existing Post Office in place, but with modified retail window hours to match customer use. Access to the retail lobby and to PO Boxes would remain unchanged, and the town’s ZIP Code and community identity would be retained.
   
  “Meeting the needs of postal customers is, and will always be, a top priority. We continue to balance that by better aligning service options with customer demand and reducing the cost to serve,” said Postmaster General and CEO Patrick R. Donahoe. “With that said, we’ve listened to our customers in rural America and we’ve heard them loud and clear – they want to keep their Post Office open. We believe today’s announcement will serve our customers’ needs and allow us to achieve real savings to help the Postal Service return to long-term financial stability.”
   
  The new strategy would be implemented over a two-year, multi-phased approach and would not be completed until September 2014. Once implementation is completed, the Postal Service estimates savings of a half billion dollars annually.
  

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• 05.09.2012

  RDA Holding Co. Announces Results for the First Quarter Ended March 31, 2012

  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 first quarter ended March 31, 2012.

  Revenue decreased $42.0 million to $241.8 million, a decline of 14.8% from the 2011 quarter (a decrease of 17.6% on a constant currency basis and excluding fair value adjustments). The revenue declines were primarily due to continued softness in our international businesses, the sale of the Every Day with Rachael Ray (EDWRR) publication, and declining renewals on certain of our publications in our North America publishing business.

  First quarter 2012 operating loss increased $2.7 million, or 5.0%, to $56.8 million, from the 2011 quarter. The increase in operating loss was primarily the result of declining revenue, as described above. This was partially offset by headcount reductions relating, in part, to our 2011 restructuring initiatives.

  EBITDA for the quarter was negative $37.7 million, compared to negative $15.7 million from the 2011 quarter, which has been adjusted to exclude discontinued operations, as well as the (EDWRR) publication, which we sold in October 2011.

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• 05.09.2012

  Avery Dennison Introduces Supreme Wrapping Film in more than 30 Colors and 3 Finishes

  Avery Dennison Corporation has developed a new product line, Supreme Wrapping Film, that is wrapped around a vehicle’s exterior to change the color of the car while protecting the original paint job.

  The new Avery Dennison product line is available in more than 30 colors, ranging from White Pearlescent to Matte Black, Orange and Grass Green, and a variety of finishes and textures, such as gloss, matte and metallic. Supreme Wrapping Film is similar to paint for vehicles and trucks. The films boast a durability of six to twelve years, depending on the finish and application.

  “In many cases, wrapping a car is more affordable than a custom paint job,” said Troy Downey, at APE Wraps, a CarWraps.net listed company, based in San Diego. “Custom designs and colors for cars and trucks have been growing in popularity. They provide the wow factor and are easier to maintain.”

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• 05.09.2012

  Wiley Acquires Higher Education Publisher Harlan Davidson Inc.

  John Wiley & Sons, Inc, announced today the acquisition of Harlan Davidson Inc. (HDI), a small family-owned publishing company in Wheeling, IL. The acquisition builds on Wiley’s existing high quality American History portfolio, and strengthens growing curriculum areas such as World History, Atlantic History and State History. The terms of the acquisition were not disclosed.
   
  HDI titles are used by undergraduates in four- and two-year institutions.  More students around the world will have access to them as a result of Wiley’s extensive sales and marketing operations and strong relationships across the US and internationally. Wiley’s digital innovation and expertise will also provide the opportunity to offer HDI’s high quality content to a more diverse and wider market online.

  Harlan Davidson’s audience and focus is a perfect complement to our own.  We already have relationships with a significant proportion of HDI’s authors and feel that this is a natural extension of our work in the field of history to date,” said Steve D. Smith, VP & Books Publishing Director, Social Sciences & Humanities, Wiley-Blackwell. “As a larger business with founding family involvement, we will be well placed to continue to offer HDI authors the highly personalized service to which they are accustomed, but at the same time expose their books to the broader and digital markets to which we have access.”

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• 05.09.2012

  UPM Becomes a Member of Cleantech Finland

  UPM has signed a member agreement with Cleantech Finland. UPM believes that cleantech cooperation will support implementation of the company's Biofore strategy as a frontrunner of the new forest industry. 
   
  “UPM is a leading producer of biomaterials and renewable energy. Our products are based on renewable raw materials, are recyclable and carbon-binding in addition to providing a bio-based alternative to non-renewable materials. Our strategy and innovations are based on sustainable development leading to a low-carbon bioeconomy. Thus, UPM is essentially a cleantech company,” says Hans Sohlström, UPM’s Executive Vice President for Corporate Relations and Development.
   
  As the Biofore company, UPM is committed to reducing the environmental impacts of its products and operations throughout their lifecycle. Sustainable products, climate, water, forest and waste are key areas of UPM’s environmental responsibility. The company is constantly striving to improve its environmental performance and achieve the long-term targets set for 2020.
   
  “The core of cleantech cooperation involves networking with players in the industry, and cooperation will allow us to put new technological innovations into use more quickly and cost-effectively. Cleantech Finland membership supports our goals and implementation of the Biofore strategy,” says Hans Sohlmström.

  The Cleantech Finland network comprises nearly 100 Finnish companies that focus on environmental business. UPM is the first forest company to join the Cleantech family, which already includes many large Finnish companies Kemira, Outokumpu, Metso, Wärtsilä, Vacon, Outotec, Ruukki, Pöyry, Neste Oil and Fortum.

  Cleantech Finland links leading cleantech experts and channels Finnish expertise to meet global demand. A new feature of the network is the SOLVED expert service, which brings together companies, customers and other stakeholders, problems and solutions to them on a single platform that makes it possible to utilize completely new operating methods and forms of cooperation.

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• 05.09.2012

  Torstar Corporation Reports First Quarter Results

  Torstar Corporation today reported financial results for the first quarter ended March 31, 2012.

  Highlights for the quarter: Revenue was $350.8 million in the first quarter of 2012, down $0.6 million from $351.4 million in the first quarter of 2011. Excluding acquisitions and the impact of foreign exchange, revenues were down $11.0 million or 3.1% in the first quarter. EBITDA (see “non-IFRS measures”) was $40.2 million in the first quarter of 2012, down $1.5 million from $41.7 million in the first quarter of 2011.

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• 05.09.2012

  Sun Chemical to Raise Prices on Inks and Coatings in the United States and Canada

  Faced with continued volatility in the global supply chain and increases in the costs of certain raw materials, Sun Chemical will raise prices on June 1, 2012 in the United States and Canada by at least: 4 percent for all screen products, 7 percent for all white inks, 3 percent for all non-white liquid products, 3 percent for all energy curable products, and $0.04 per pound on all coldset products.

  “We have seen unrelenting cost increases for raw materials such as water-based acrylics, energy curing resins, distillates, ink oils and titanium dioxide, which has another price increase announced for July 1st,” said Charles Murray, President of North American Inks, Sun Chemical. “While we continue to work closely with our supply chain partners to deliver products with the highest-possible value and enhanced competitive edge for our customers, we simply cannot offset the drastic raw material price increases this year across all our product lines.”

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• 05.09.2012

  Consolidated Graphics Reports Financial Results for the Quarter and Year Ended March 2012

  Consolidated Graphics, Inc. today announced financial results for its fourth quarter and year ended March 31, 2012.

  Revenue for the March quarter was $250.6 million, a $7.6 million or 2.9% decrease compared to the prior year quarter.  The decline in revenue compared to the prior year quarter was due to a 4.8% decline in same-store sales, partially offset by sales growth related to acquisitions and an increase in election-related business.  Adjusted Operating Income for the March 2012 quarter was $6.0 million or 2.4% of revenue, compared to $17.7 million or 6.9% of revenue last year.  Adjusted Net Income was $2.9 million, or $.28 per diluted share for the quarter, compared to Adjusted Net Income of $9.8 million or $.85 per diluted share for the prior year quarter. Adjusted EBITDA was $25.0 million for the March 2012 quarter and $122.9 million for fiscal year 2012.

  Operating loss, which included $11.5 million in charges related to withdrawing from multiemployer pension plans and $2.0 million in long-lived asset impairment charges, was $8.3 million for the March 2012 quarter. Operating income for the prior year quarter was $16.4 million and included long-lived asset impairment charges of $.5 million. Net loss for the March 2012 quarter was $5.9 million or $.57 diluted loss per share, compared to $8.9 million or $.78 diluted earnings per share last year.

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• 05.09.2012

  EPSON and Neenah Offer World’s First Inkjet Solution Compliant to BS 5609 Chemical Labeling Specification

  Epson America, Inc. and Neenah Paper, Inc. announced today that two EPSON® inkjet printers with Neenah inkjet KIMDURA® label media for harsh environments have achieved International Maritime Dangerous Goods BS 5609 certification, a key standard for the Global Harmonizing System (GHS) being adopted for most chemical labeling around the world. The joint offering marks the world’s first BS 5609-certified solution using color inkjet printing technology, allowing chemical and pharmaceutical companies to print GHS labels for a fraction of the cost as compared to four-color thermal transfer or laser solutions meeting the same standard. In addition, manufacturers using this new solution will be able to reduce errors and labor costs while increasing productivity by moving labeling closer to manufacturing and shipping.

  The certified inkjet technology solution includes two EPSON printers, the TM-C3400 and B-510DN models, used exclusively with KIMDURA® Ink Jet for Harsh Environments. “We currently offer BS 5609-certified labels for thermal transfer and laser printed labeling methods, and now we support two EPSON inkjet printers with our extremely durable KIMDURA® brand,” commented Michael O’Connell at Neenah Paper, Inc. “Inkjet technology provides a cost effective alternative to current solutions, and companies can deploy the same, standardized solution worldwide, with the global support of both Neenah and Epson.”

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• 05.09.2012

  Magazines Dominate Top Earners In Key iPad Categories

  The introduction of the iOS Newsstand less than a year ago has changed the face of the iPad app economy and increased the rank and visibility of magazine brands considerably. A look at this week’s top grossing titles in the iPad App Store Lifestyle section shows that nine of the top ten highest grossing apps are from magazine publishers, and eight of the ten are digital editions of magazines. In fact, in this category, which is so rich in service magazine presence, we count 34 of the top 50 grossing apps as tablet editions of magazines. The usual caveats apply. In any given week in the app store the relative ranks of individual titles will rely heavily on the release schedule of their new monthly number. Next week’s list will show a much different rank order. In fact there has already been a slight shift in some rank orders between our Tuesday May 8 spot check and a Web. May 9 refresh. Nevertheless, the sheer dominance of magazine content in revenue generation in the app store is notable.

  Top Grossing iPad Lifestyle Apps (as of May 8): 1. Creston Mobile Pro G  2. Cosmopolitan  3. GQ  4. Glamour  5. Allrecipes – Your Kitchen Inspiration  6. Food Network Magazine  7. Bon Appetit  8. Maxim+ Magazine  9. O The Oprah Magazine  10. Esquire iPad Edition  11. Food Network Cupcakes  12. How To Cook Everything  13. Food & Wine  14. Martha Stewart Living Magazine  15. Better Homes & Gardens

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• 05.09.2012

  Fewer stores, more digital shoppers

  For the top executive of a major home improvements chain with nearly 1,800 stores in the U.S., Canada and Mexico, Lowe’s Cos. Inc. CEO Robert Niblock spends a lot of time talking about e-commerce these days. And with good reason.
   
  In 2011 online sales for Lowe’s, No. 47 in the 2012 Internet Retailer Top 500 Guide, grew year over year 70%, while comparable-store sales for the chain’s bricks-and-mortar loca­tions were flat. Last year the web was the fastest-growing channel for Lowe’s, with online sales that reached an Internet Retailer-estimated $510 million from $300 million in 2010. In comparison, total sales increased about 2.9% to $50.20 billion from $48.81 billion in 2011
   
  To grow its web business in 2011 and going forward, Lowe’s made several improvements to its e-commerce site, including rolling out MyLowes.com, a new interac­tive suite of tools that gives shoppers more customized ways to create and store room designs, check out avail­able inventory across stores and the web, and create and store folders and lists to organize products, projects and ideas.

  Lowe’s has big plans in mind for e-commerce, and it’s hardly alone among the largest chain retailers ranked . That’s because consumers increas­ingly see less need to hit shopping malls and physical stores as they shift more of their shopping online, use more Internet-enabled mobile devices such as smartphones or tablets to check prices and buy, and cull product information and opinions from social media channels such as Facebook.

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• 05.09.2012

  comScore Launches Smartphone Metrics Service

  Digital analytics provider comScore has extended its media measurement services to the smartphone with the launch of Mobile Metrix 2.0.
   
  The service aims to give publishers and advertisers a more accurate, detailed view of a brand’s unduplicated mobile audience size and demographics, in both apps and browsers. This is powered by comScore’s “Unified Digital Measurement” methodology, which combines on-device metering with what comScore calls “census-level data” collected through its panel—about 2 million worldwide consumers whose digital behavior is continuously measured.
   
  Mobile Metrix 2.0 can also segment consumer activity across iOS, Android and RIM platforms to help publishers see how their mobile web and app audiences vary across operating systems.
   
  According to data so far collected, browser and app audiences are similar in terms of size but vary widely in terms of engagement, with every 4 in 5 minutes spent with mobile media coming through apps.
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• 05.09.2012

  Flint Group announces OmniLam™ PT, a new series of solvent flexo lamination whites for the North American Flexible Packaging Market.

  Lamination whites need to have good opacity, bond strength, and excellent print characteristics for structural and aesthetic purposes; while offering excellent value.  The OmniLam™ PT series of lamination whites delivers these attributes at a value that aligns with this market segment’s requirements.  These solvent flexo lamination whites provide excellent technical performance while delivering exceptional value to customers.

  “The OmniLam™ PT series of whites is Flint Group’s latest generation of lamination whites.  This new series continues on the market success of Flint Group’s Polartek™ series of lamination whites”, says John Gaber Product Manager Film & Foil, Packaging and Narrow Web North America.

  Flint Group is introducing three specific whites each with its own value proposition.  We realize that printers have different requirements and we feel we have addressed various needs through three key lamination white products.

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• 05.09.2012

  Great Northern Paper receives FSC certification

  Great Northern Paper Company, LLC, (GNP) announced that it has received a Forest Stewardship Council (FSC) certification.

  FSC certification recognizes that wood products used in GNP’s papermaking process are harvested using certified responsible forestry management practices. The chain-of-custody certification addresses GNP’s ability to track certified products throughout its inventory and distribution processes.

  "Great Northern Paper has a long-standing commitment to sustainable operations and responsible forestry management practices," said Richard M. Cyr, GNP President and CEO. “To officially be certified by the FSC further demonstrates our pledge to continue being responsible stewards of our natural resources.

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• 05.09.2012

  Catalyst Paper announces three-day extension for Creditor meetings to consider Plan of Arrangement

  Catalyst Paper today announced a three-day extension for the meetings of its secured and unsecured creditors to consider the plan of arrangement under the Companies’ Creditors Arrangement Act.  The meetings, previously scheduled for May 15, 2012, will now be held on May 18, 2012.
   
  “We have been in ongoing discussions with creditors and other stakeholders regarding the proposed restructuring plan and a further extension of the meeting date will allow these discussions to progress. Together with our advisors, we are working non-stop to implement the consensual deal that will enable Catalyst to emerge from creditor protection on stronger financial footing and with a more viable enterprise overall,” said Kevin J. Clarke, President and Chief Executive Officer.

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• 05.09.2012

  Crude Oil Falls for Sixth Day in Longest Drop Since 2010

  Oil fell for a sixth day in New York, the longest run of declines in almost two years, after crude stockpiles increased in the U.S., the world’s largest consumer of the commodity.

  Futures slid as much as 0.9 percent after dropping 8.6 percent in the past five days. U.S. inventories climbed 7.8 million barrels last week to 378 million, the highest level since August 1990, the American Petroleum Institute said yesterday. A government report today may show supplies rose 2 million barrels, according to a Bloomberg News survey. Crude is poised to rebound as global refiners increase purchases, Societe Generale SA said in a report.

  “U.S. inventory levels are preventing oil having the traditional dead-cat bounce after such a steep fall,” said Christopher Bellew, a senior broker at Jefferies Bache Ltd. in London who predicts prices will recover this month. “The lows we’ve seen this week will probably hold, and crude will likely rise as buying by funds and weakness in the dollar assist with a recovery.”

  Crude for June delivery fell as much as 82 cents to $96.19 a barrel in electronic trading on the New York Mercantile Exchange and was at $96.30 at 10:53 a.m. London time. It slipped 1 percent yesterday to $97.01, the lowest close since Feb. 6. Front-month prices are down 2.6 percent this year.

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• 05.09.2012

  Bertelsmann records significant profit hike in Q1-2012

  Bertelsmann, the international media company, is off to a good start in 2012: the Group reports increased first-quarter revenues, operating EBIT and group profit. Revenues generated by Bertelsmann’s continuing operations during the reporting period increased by five percent to €3.64 billion (prior year: €3.46 billion), while operating EBIT increased from €248 million in Q1/2011 to €280 million. Return on Sales was 7.7 percent (prior year: 7.2 percent). Group profit increased significantly to €147 million (prior year: €94 million).

  Bertelsmann Chairman & CEO Thomas Rabe comments: “Bertelsmann started the new year on a high note. All of our divisions including Corporate Investments are seeing growth, and our earnings performance is also very gratifying. This underscores the good starting position that Bertelsmann has established for its planned long-termed reshaping into a faster-growing, more digital and more international company. Looking at the full year, we are confident of achieving our target of moderate revenue growth, stable operating EBIT at a high level, and increased group profit.”

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• 05.09.2012

  Holmen Interim report January-March 2012

  Profit after tax for January-March 2012 was SEK 389 million (January-March 2011: SEK 370 million).

  Earnings per share reached SEK 4.6 (4.4). Return on equity totalled 7.9 per cent (8.8).

  Operating profit reached SEK 560 million (558). Earnings from forest and energy increased while the lower outcome from currency hedges had a negative impact on printing paper and paperboard.

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• 05.09.2012

  Kohl’s Department Stores Releases 2011 Corporate Social Responsibility Report

  Kohl’s Department Stores today released its 2011 corporate social responsibility (CSR) report, providing updates on the company’s programs and accomplishments in sustainability, community relations and social compliance. It is available for download on Kohl’s Investor Relations page under Corporate Governance and on KohlsGreenScene.com. While the company has for several years posted a Report to Shareholders on Social Responsibility on its Investor Relations page and last year released a corporate sustainability report, this marks the company’s first formal, comprehensive social responsibility report.

  “Kohl’s has a longstanding commitment to social responsibility with the goal of making a positive impact on the customers and communities we serve and the environment we share,” said Kevin Mansell, Kohl’s chairman, president and chief executive officer. “It is our hope that this report demonstrates this commitment and continues to serve as a resource each year on the advancement and integration of our CSR efforts – from our Kohl’s Cares programs to our social compliance efforts and ongoing collaboration with our suppliers.”

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• 05.09.2012

  Macy's, Inc. Reports First Quarter Earnings

  Macy's, Inc. today reported significantly increased sales and earnings for the first quarter of 2012, the 13-week period ended April 28, 2012. Earnings for the quarter were 43 cents per diluted share, an increase of 43 percent compared with 30 cents per diluted share in the same period last year.
   
  "The momentum in our business at Macy's and Bloomingdale's continued to build in the first quarter, with sales and earnings that exceeded our expectations going into the year. The quarterly data clearly demonstrates the strength of our results as we continue to implement our key strategies - My Macy's merchandise localization; omnichannel integration of stores, online and mobile; and MAGIC Selling for enhanced customer engagement," said Terry J. Lundgren, Macy's, Inc. chairman, president and chief executive officer.

  Sales in the first quarter of 2012 totaled $6.143 billion, an increase of 4.3 percent, compared with sales of $5.889 billion in the same period last year. On a same-store basis, Macy's, Inc.'s first quarter sales were up 4.4 percent in 2012 over 2011.
   
  Online sales (macys.com and bloomingdales.com combined) were up 33.7 percent in the first quarter of 2012. Online sales are included in the same-store sales calculation for Macy's, Inc. and positively affected the company's same-store sales by 1.5 percentage points in the first quarter.

  Macy's, Inc.'s operating income totaled $391 million or 6.4 percent of sales for the first quarter of 2012, compared with $330 million or 5.6 percent of sales for the same period in 2011.

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• 05.08.2012

  Consolidated Graphics Purchases 10 HP Indigo 10000 Digital Presses

  HP today announced that Consolidated Graphics (CGX), one of the largest commercial print service providers, offering the world’s largest integrated digital printing footprint, has purchased 10 HP Indigo 10000 digital presses.
   
  HP and CGX officials disclosed the purchase agreement during the drupa tradeshow in Düsseldorf, where HP is showing the HP Indigo 10000 model press—the first B2-format (750 mmx340 mm/29.5x20.9") sheetfed HP Indigo solution—publicly for the first time. CGX will begin installing the presses at locations throughout its 70-company network when the HP Indigo 10000 becomes commercially available in early 2013.
   
  In addition to the 10-press purchase, Nies/Artcraft, a CGX company specializing in high-quality, targeted direct marketing services, will be a beta user for the HP Indigo 10000, receiving an early production unit later this year.
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• 05.08.2012

  Wiley-Blackwell Announces New Publishing Partnership with The Obesity Society

  Wiley-Blackwell, the scientific, technical, medical, and scholarly publishing business of John Wiley & Sons, Inc., today announced that it has been selected by The Obesity Society (TOS) to publish their journal, Obesity.

  Wiley-Blackwell will begin publishing Obesity, the largest society-owned journal in the field, on January 1, 2013. Currently in its 20th volume, the journal will be edited by Dr. Eric Ravussin, Director of the Nutrition and Obesity Research Center, and Douglas L. Gordon Chair in Diabetes and Metabolism, and Dr. Donna Ryan, Professor Emeritus, at the Pennington Biomedical Research Center in Baton Rouge, LA.
   
  Publishing 12 times a year, Obesity covers all aspects of obesity, from basic research into the causes and nature of the disease to clinical research into prevention and treatment, including nutritional, behavioural, and psychological studies.

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• 05.08.2012

  Walgreens Completes Acquisition of BioScrip's Community Specialty Pharmacies and Centralized Specialty and Mail Service Pharmacy Businesses

  Walgreen Co. today announced that it has completed its acquisition of certain assets of BioScrip, Inc.’s community specialty pharmacies and centralized specialty and mail service pharmacy businesses.

  The transaction represents a total deal value of approximately $225 million. Taking into account events that occurred between signing and closing of the transaction, up to an additional $16 million in purchase price may be payable based on events related directly or indirectly to Walgreens retention after the closing of certain business included in the transferred businesses. The acquisition fits the company’s “Well at Walgreens” strategy as it advances community pharmacy and brings additional specialty pharmacy products and services closer to patients. The acquisition also will help grow Walgreens centralized specialty and mail service pharmacy operations.

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• 05.08.2012

  Talbots Receives Proposal from Sycamore Partners to Acquire All Outstanding Common Stock

  The Talbots, Inc. today announced that its Board of Directors has received a non-binding proposal from Sycamore Partners to acquire all of the Company's outstanding common stock for $3.05 per share. In addition, the Company today announced that it has entered into an exclusivity agreement with Sycamore Partners in connection with the non-binding proposal, which will terminate on May 15, 2012.

  The Board continues to evaluate strategic alternatives, including Sycamore Partners' proposal, consistent with its fiduciary duties to act in the best interest of the Company's stockholders. The Board is being advised in this process by its financial advisor, Perella Weinberg Partners, and legal advisor, White & Case LLP, with a team of attorneys led by Morton A. Pierce.

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• 05.08.2012

  Packsize Introduces iQ FUSION

  Packsize International LLC, the leading provider of On Demand Packaging™, today announced the availability of the iQ FUSION™, the company's first generation in a new series of corrugated converting machines. Introduced at the WERC/Wire Conference in Atlanta this week, the compact and intelligent design of the iQ FUSION™ gives Packsize the ability to reach a broader set of customers that want to reduce the time and cost of their packaging operations.

  With a working footprint of only 48 square feet and few management requirements, the iQ FUSION™ can be placed in just about any pack line, requires no capital investment, and uses corrugated z-Fold™ for the box-making process. The Packsize EM7-25, recognized last week with an Innovation Award, will continue to be the best choice for customers with larger box-size needs.

  One of the crucial functions for companies that manufacture and distribute product is the ability to pack and ship their items in a highly efficient and resourceful manner.  According to a recent study conducted by Peerless Research Group, more than four out of five respondents asserted that the packaging process is considered a highly important aspect of their materials handling operation.

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