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

04.27.2012

Weyerhaeuser Reports First Quarter Results

Weyerhaeuser Company today reported net earnings of $41 million for the first quarter, or 8 cents per diluted share, on net sales of $1.5 billion. This compares with net earnings of $99 million on net sales from continuing operations of $1.4 billion for the same period last year.

Earnings for the first quarter of 2012 include after-tax gains of $32 million from special items. Excluding these items, the company reported net earnings of $9 million, or 2 cents per diluted share. This compares with net earnings before special items of $3 million, or breakeven results per diluted share, in the first quarter of 2011.

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04.27.2012

UPM Raflatac Opens New Factory for Specialty Labelstock Products in Fletcher, North Carolina, USA

UPM Raflatac announces the opening of its new specialty products factory in Fletcher, North Carolina. The facility, which began full-scale production in April 2012, will provide UPM Raflatac with the expertise, narrow-web coating capabilities and capacity to develop specialty labelstock solutions for demanding end-uses and allow the company to deliver on its promise of becoming a full product line supplier to its diverse industry customer base.

The specialty products factory will supply labelstock products for end-uses such as security, pharmaceutical, food, tire and durables labeling and ultra removable applications; provide coat-to-order services; and run small orders. This factory is located just a few miles from UPM Raflatac’s existing labelstock manufacturing facility in Mills River, North Carolina, allowing the company to streamline its logistics processes, accelerating production and order delivery.

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04.27.2012

Valassis Announces Results for the First Quarter Ended March 31, 2012

Valassis today announced financial results for the first quarter ended March 31, 2012. First-quarter 2012 revenues were $518.6 million, a decrease of 5.2% from $547.0 million in the prior year quarter. This decrease in revenues was due primarily to reduced spending by consumer packaged goods (CPG) clients across our various business segments and the absence of custom co-op programs within our Free-standing Inserts (FSI) segment.

First-quarter 2012 net earnings were $26.4 million, an increase of 23.4% from $21.4 million in the prior year quarter, which included a loss on extinguishment of debt, net of tax, of $8.2 million. Excluding this charge, first-quarter 2011 adjusted net earnings* were $29.6 million. First-quarter 2012 diluted earnings per share (EPS) was $0.60, an increase of 46.3% from $0.41 in the prior year quarter, which included the negative impact of the aforementioned loss on extinguishment of debt of $0.16. Excluding this charge, first-quarter 2011 adjusted diluted EPS* was $0.57. First-quarter 2012 diluted cash EPS* was $0.78, a decrease of 3.7% from $0.81 in the prior year quarter. First-quarter 2012 diluted cash EPS* was negatively impacted by the increased level of capital expenditures in first-quarter 2012 compared to the prior-year quarter. First-quarter 2012 adjusted EBITDA* was $67.0 million, a decrease of 10.1% from $74.5 million in the prior year quarter.

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04.27.2012

Ball Reports Improved First Quarter Results

Ball Corporation today reported first quarter net earnings attributable to the company of $88.3 million, or 55 cents per diluted share, on sales of $2.0 billion, compared to $91.3 million, or 53 cents per diluted share, on sales of $2.0 billion in the first quarter of 2011. Comparable earnings per share were 63 cents, an increase of nearly 9 percent over 2011 first quarter results of 58 cents.

"Ball Corporation's improved results during the seasonally slow first quarter reflect the execution of our Drive for 10 strategy, and were driven by strong performance in our aerospace and Europe segments, continued growth in our specialty beverage packaging business in multiple markets and a lower tax rate," said John A. Hayes, president and chief executive officer.

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04.27.2012

Irvine-based Tilly's to go public

Irvine-based retailer Tilly's Inc. is going public within two weeks, with big plans to increase its store count from 140 to more than 500 across the U.S. and boost its e-commerce business.

Upon becoming a public company, the retailer, which is popular among teens and young adults in Orange County, will join a small group of publicly held retailers that specialize in action sports clothing and accessories, including Anaheim-based Pacific Sunwear and Everett, Wash.-based Zumiez.

Its proposed ticker symbol on New York Stock Exchange will be TLYS.

In a regulatory filing with the Securities and Exchange Commission on Monday, the company stated that it is planning to offer 8 million shares in stock priced between $11.50 and $13.50. At the midpoint – $12.50 – the company would raise $100 million.

Tilly's, which was incorporated in May 2011 to reorganize the corporate structure of World of Jeans & Tops, stated that it plans to use $84 million of the net proceeds to pay World of Jeans & Tops shareholders, and that Jeans & Tops will become a wholly owned subsidiary of Tilly's Inc.

The company first filed for an initial public offering in July.

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04.27.2012

Vistaprint Reports Fiscal Year 2012 Third Quarter Financial Results

Vistaprint N.V., a leading online provider of professional marketing products and services to micro businesses and the home, today announced financial results for the three month period ended March 31, 2012, the third quarter of its 2012 fiscal year.

•Revenue for the third quarter of fiscal year 2012 grew to $257.6 million, a 26 percent increase over revenue of $203.7 million reported in the same quarter a year ago. Excluding Albumprinter and Webs combined revenue of $14.0 million, total third quarter revenue was $243.6 million.
•Excluding the estimated impact from currency exchange rate fluctuations and revenue from acquired businesses, total revenue grew 21 percent from the same quarter a year ago.
•Gross margin (revenue minus the cost of revenue as a percent of total revenue) in the third quarter was 65.5 percent, compared to 65.3 percent in the same quarter a year ago.
•Operating income in the third quarter was $7.8 million, or 3.0 percent of revenue, and reflected a 69 percent decrease compared to $25.6 million, or 12.6 percent of revenue in the same quarter a year ago.

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04.26.2012

More shutdowns planned for Bowater

A lack of orders is bringing two more shutdowns to the Bowater Mersey Paper mill.

The first is planned for two weeks, from May 6 to May 21. The second is also for two weeks, going from June 17 to July 2.

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04.26.2012

Cabela's Inc. Reports Record First Quarter 2012 Results

Cabela's Incorporated today reported record financial results for first quarter fiscal 2012.

For the quarter, total revenue increased 6.3% to $623.5 million; Retail store revenue increased 14.4% to $345.3 million; Direct revenue decreased 8.3% to $190.2 million; and Financial Services revenue increased 15.3% to $83.5 million. For the quarter, comparable store sales increased 4.2%. Net income increased 62% to $28.8 million compared to $17.8 million in the year ago quarter, and earnings per diluted share were $0.40 compared to $0.25 in the year ago quarter.

"This strong performance gives us confidence our growth strategy is working and working well," said Tommy Millner, Cabela's Chief Executive Officer. "Virtually all the lines on the income statement are moving in the right direction: revenue is up, merchandise margin increased, expenses as a percentage of revenue are down, earnings are up and after-tax return on invested capital rose nicely."

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04.26.2012

Aptargroup Reports Record First Quarter Revenue

AptarGroup, Inc. today reported record first quarter sales. Earnings per share equaled the prior year's all-time high first quarter earnings per share.

First Quarter 2012 Summary
•Reported sales grew 3% (6% excluding currency effects) to first quarter record of $592 million
•Changes in currency exchange rates negatively affected results
•Each segment's sales increased over the prior year
•Operating income rose to record first quarter level of $70.4 million

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04.26.2012

Oil Near Highest in a Week as Fed Says Ready to Protect Growth

Oil traded near the highest level in more than a week after Federal Reserve Chairman Ben S. Bernanke said that while further stimulus is unlikely, central banks “remain prepared to do more” to protect the economy.

Futures were little changed after rising 0.6 percent yesterday. Economic growth is expected to “remain moderate over coming quarters and then to pick up gradually,” the Federal Open Market Committee said in a statement. Prices declined earlier after U.S. supplies gained more than forecast and Iran’s envoy in Moscow said his country may halt the expansion of its atomic program to avert new Western sanctions.

“Bernanke will do something if things don’t get better,” said Hakan Kocayusufpasaoglu, chief investment officer at Archbridge Capital in Zug, Switzerland. “And when Bernanke says he’ll do whatever it takes to get the economic growth rate improving, that means the economic trajectory rises and oil demand increases over time. And his methods for doing something increase money supply, causing the dollar to depreciate and that lifts all commodities.”

Crude for June delivery was at $103.90 a barrel, down 22 cents, in electronic trading on the New York Mercantile Exchange at 11:04 a.m. London time. The contract yesterday rose 57 cents to $104.12, the highest close since April 17.

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04.26.2012

Billerud Interim Report for January-March 2012

Net sales amounted to SEK 2 291 million, compared with SEK 2 086 million in the previous quarter.

Operating profit totalled SEK 142 million, up SEK 67 million on the previous quarter. The increase arises mainly from the absence of maintenance or market-related production shutdowns, leading to higher volumes and lower fixed costs.

Results for the quarter were charged with acquisition-related non-recurring costs of SEK 14 million. Adjusted for these non-recurring costs, operating profit totalled SEK 156 million.

Prices in local currency for packaging paper fell by around 2% compared with the previous quarter, as a result of the price cuts made during the previous quarter.

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04.26.2012

Canfor Reports Results for First Quarter of 2012

Canfor Corporation today reported a net loss attributable to shareholders of $16.2 million, or $0.11 per share, for the first quarter of 2012, compared to a shareholder net loss of $44.1 million, or $0.31 per share, for the fourth quarter of 2011 and shareholder net income of $7.0 million, or $0.05 per share, for the first quarter of 2011.

The shareholder net loss for the first quarter of 2012 included various items affecting comparability with prior periods, which had an overall net positive impact of $6.1 million, or $0.05 per share. After adjusting for such items, the Company’s adjusted shareholder net loss for the first quarter of 2012 was $22.3 million, or $0.16 per share, compared to an adjusted shareholder net loss of $32.1 million, or $0.22 per share, for the fourth quarter of 2011, and effectively breakeven on an adjusted basis for the first quarter of 2011.

The Company reported an operating loss of $21.5 million for the first quarter of 2012, compared to an operating loss of $63.1 million in the fourth quarter of 2011. Excluding inventory valuation adjustments and one-time restructuring costs, as well as impairment costs in the previous quarter, Canfor’s operating loss was $26.2 million in the current quarter compared to $20.5 million in the prior quarter. The adverse variance of $5.7 million primarily reflected weaker results in the pulp and paper segment.

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04.26.2012

Catalyst Paper sets new date for Creditor meetings to consider Plan of Arrangement

Catalyst Paper announced today that the date for the meetings of its secured and unsecured creditors to consider the plan of arrangement under the Companies’ Creditors Arrangement Act has been changed from May 2, 2012 to May 15, 2012.

The new date was set to allow additional time for Catalyst to consider feedback from its trade and other creditors and to advance discussions in order to gain further support for the restructuring.

“We are taking the additional time to work through a very complicated process and to ensure the many interests involved are fully considered. We are continuing our efforts to bring a consensual deal to a satisfactory conclusion,” said Kevin J. Clarke, President and Chief Executive Officer.

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04.26.2012

Cascades Announces Investments of $30 Million as Part of the Consolidation of Its Corrugated Products Sector in Ontario

Cascades Inc., leader in the recovery and manufacturing of green packaging and tissue products, announces the consolidation of its corrugated product plants in its Norampac division in Ontario. The consolidation translates into an investment totalling in excess of $30 million in the Vaughan, St. Mary's, Etobicoke and Belleville plants, and the closure of the North York and Peterborough units, as well as the OCD plant in Mississauga.

“The purpose of this restructuring is to optimize the productivity in our corrugated product plants in Ontario and enhance customer service. These steps are in line with our regional development strategy, which includes the recent acquisition of three Bird Packaging plants,” explained Marc-André Dépin, President and Chief Executive Officer of Norampac.

With this investment of over $30 million, Norampac aims to modernize manufacturing equipment in the four Ontario plants and increase production capacity, profitability, as well as productivity.

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04.26.2012

Winpak Reports First Quarter Results

Winpak Ltd. today reports consolidated results in US dollars for the first quarter of 2012, which ended on April 1, 2012.

Winpak Ltd. manufactures and distributes high-quality packaging materials and related packaging machines. The Company's products are used primarily for the packaging of perishable foods, beverages and in health care applications.

Net income attributable to common shareholders for the first quarter of 2012 was $17.0 million or 26 cents in earnings per share compared to $14.7 million or 23 cents per share in the corresponding quarter of 2011, an increase of 15.4 percent. Volume growth contributed 2.5 cents in earnings per share while gross profit improvement added a further 2.5 cents in earnings per share. This was offset in part by higher income taxes and greater operating expenses which decreased earnings per share by 1.5 cents and 0.5 cents respectively.

Revenue for the first quarter of 2012 was $171.8 million, an increase of $23.3 million or 15.7 percent over the same period in 2011. Volumes advanced by 12.3 percent over the prior year comparable quarter, and were solid, even after factoring in the additional week of revenue in the 2012 quarter. The three largest business units experienced a healthy climb in demand, which rose between 13 and 18 percent over the first quarter of 2011. Die-cut lidding led the way with particularly robust growth in the yogurt customer base. Rigid packaging revenue expanded in the areas of condiment and specialty beverage containers while modified atmosphere packaging experienced widespread success across all regions. Demand was muted in the more commodity based products of biaxially oriented nylon and specialty films as well as packaging machinery, where volume growth was in the low single digit percentage range. Higher overall selling prices, in response to raw material cost increases, and changes in product mix, resulted in an increase of 3.5 percent in first quarter revenue compared to 2011. Foreign exchange had little impact on revenue in the current quarter in relation to the corresponding prior year period.

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04.26.2012

Graphic Packaging Holding Company Reports First Quarter 2012 Results

Graphic Packaging Holding Company, a leading provider of packaging solutions to food, beverage and other consumer products companies, today reported Net Income for first quarter 2012 of $17.2 million, or $0.04 per share, based upon 396.5 million weighted average diluted shares. This compares to first quarter 2011 Net Income of $26.7 million, or $0.08 per share, based upon 349.8 million weighted average diluted shares.

When adjusted for $7.5 million of special charges, Adjusted Net Income for the first quarter of 2012 was $24.7 million, or $0.06 per diluted share. When comparing to the prior year period, first quarter 2012 Adjusted Net Income was negatively impacted by $10.1 million, or $0.03 per share, from higher Income Tax Expense. Due to a fourth quarter 2011 tax valuation allowance release, the Company now utilizes a more normalized tax rate. If the Company had used a normalized tax rate of 38.5% in the first quarter of 2011, Adjusted Net Income would have been $18.3 million or $0.05 per diluted share in the first quarter of 2011.

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04.26.2012

Orchids Paper Products Company Reports Record Quarterly Converted Product Shipments And 2012 First Quarter Results

Orchids Paper Products Company today reported first quarter 2012 financial results.

Net sales in the quarter ended March 31, 2012 were $25.7 million, an increase of $3.1 million, or 13%, compared to $22.7 million in the same period of 2011. Net sales of converted product were $23.6 million in the 2012 quarter, favorable by $5.6 million, or 31%, compared to the $18.0 million of net sales in the same quarter last year. Net sales of parent rolls were $2.1 million in the first quarter of 2012, a decrease of $2.6 million, or 55%, compared to $4.7 million of parent roll sales in the same quarter last year. The increase in converted product sales resulted from a 33% increase in converted product tonnage shipped partially offset by a 1% decrease in net selling price per ton. The increase in shipments was due to a combination of new product sales which were primarily in the mid-tier market, and increased product distribution with existing customers. Net sales of parent rolls were lower primarily due to the increased requirements of the converting operations, being somewhat offset by higher selling prices.

Earnings before interest, taxes, depreciation and amortization (EBITDA) in the quarter ended March 31, 2012 was $5.7 million, an increase of $2.8 million, or 97%, compared to $2.9 million in the same period in the prior year. As a percent of net sales, EBITDA was 22.0% in the 2012 quarter compared with 12.7% in the 2011 quarter.

Gross profit for the first quarter of 2012 was $6.1 million, an increase of $3.4 million, or 126%, when compared with a gross profit of $2.7 million in the prior year quarter. Gross profit as a percent of net sales was 23.8% in the first quarter of 2012 compared to 11.9% for the same period in 2011. As a percent of net sales, gross profit increased primarily due to increased levels of converted product shipments, lower fiber prices, and lower per case converting production costs.

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04.26.2012

Domtar Corporation reports preliminary first quarter 2012 financial results

Domtar Corporation today reported net earnings of $28 million ($0.76 per share) for the first quarter of 2012 compared to net earnings of $61 million ($1.63 per share) for the fourth quarter of 2011 and net earnings of $133 million ($3.14 per share) for the first quarter of 2011. Sales for the first quarter of 2012 amounted to $1.4 billion.

Operating income before items1 was $113 million in the first quarter of 2012 compared to an operating income before items1 of $148 million in the fourth quarter of 2011. Depreciation and amortization totaled $97 million in the first quarter of 2012.

The decrease in operating income before items1 in the first quarter of 2012 was the result of lower selling prices for paper and pulp, higher input costs, transaction costs and the negative impact of a stronger Canadian dollar. These factors were partially offset by higher shipments for papers and lower maintenance costs.

When compared to the fourth quarter of 2011, paper shipments increased 4.7% and pulp shipments decreased 3.5%. Paper deliveries of ArivaTM increased 5.1% when compared to the fourth quarter of 2011. The shipments-to-production ratio for paper was 100% in the first quarter of 2012, compared to 95% in the fourth quarter of 2011. Paper inventories decreased by 1,000 tons while pulp inventories decreased by 26,000 metric tons as at the end of March, compared to December levels.

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04.26.2012

UPM's Q1 Profitability Improved on Q4, Strong Operating Cash Flow Continued

•EBITDA was EUR 347 million, 13.4% of sales (379 million, 16.1% of sales)
•Variable costs decreased and the Myllykoski cost synergies started to be visible
•Operating cash flow was EUR 210 million (166 million), net debt reduced by EUR 136 million from Q4 2011

“Despite the seasonally weak first quarter, we managed to improve the profitability of our operations from the level of the second half of 2011. By decreasing costs and maintaining stable pricing across UPM businesses we were able to improve our performance. We were also able to maintain a solid cash flow throughout the quarter.

Even though the low profitability of the European paper industry as a whole is unacceptable, our paper business is heading to the right direction. The Myllykoski integration proceeded as planned and we could already see the first material cost synergies. Consolidation and the consequent streamlining of costs is the most efficient way to improve the cost competiveness of this industry.

In Paper business, we prioritised margin over volumes and our total sales margin in euro terms was maintained despite decreasing deliveries. Variable costs are expected to start increasing slightly later in the year underlining the importance of our continued attention to margin management.

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04.26.2012

RockTenn Reports Results for the Second Quarter of Fiscal 2012

RockTenn today reported earnings for the quarter ended March 31, 2012 of $0.44 per diluted share and adjusted earnings of $0.97 per diluted share.

Net sales of $2,282.9 million for the second quarter of fiscal 2012 increased $1,490.0 million over the second quarter of fiscal 2011, primarily as a result of the May 27, 2011, Smurfit-Stone acquisition.

Segment income of $157.3 million, adjusted to eliminate $6.7 million of pre-tax losses at our recently closed Matane, Quebec containerboard mill, was $164.0 million up $70.3 million or 75.0% over the prior year quarter, primarily as a result of the Smurfit-Stone acquisition and increased profitability in our Consumer Packaging segment.
RockTenn's restructuring and other costs and operating losses and transition costs due to plant closures, net of related noncontrolling interest were $0.36 per diluted share after-tax, for the second quarter of fiscal 2012. These costs consisted primarily of $19.3 million of pre-tax facility closure charges primarily related to the Matane mill and corrugated container plants acquired in the Smurfit-Stone acquisition, $7.7 million of pre-tax operating losses and transition costs primarily in connection with the Matane mill closure and consolidating converting facilities and $8.7 million of pre-tax integration and acquisition costs that primarily consisted of professional services and other employee costs.

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04.26.2012

Tembec reaches an agreement with employees at its Kapuskasing, Ontario newsprint mill, sawmill and forest operations

Tembec today reached an agreement with its employees from its Kapuskasing, Ontario newsprint mill, sawmill and forest operations, where Tembec employs a total of 582 employees, of which 498 are unionized.

This collective agreement covers a 5-year contract that will expire in April 2017. "This agreement would not have been achieved without the support and hard work from all Local union leaderships, as well as those at the National and International levels," stated Marc Tremblay, Tembec Chief Negotiator.

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04.26.2012

Avery Dennison Announces First Quarter 2012 Results

Avery Dennison Corporation today announced preliminary, unaudited first quarter 2012 results. All non-GAAP financial measures referenced in this document are reconciled to GAAP in the attached tables. Unless otherwise indicated, the discussion of the company's results is focused on its continuing operations.

Pressure-sensitive Materials (PSM): Label and Packaging Materials sales were comparable to prior year as volume declines were offset by higher prices. Sales in Graphics and Reflective Solutions grew compared to prior year due to higher volume and pricing.
Operating margin improved 50 basis points to 8.8 percent due to productivity initiatives and pricing actions taken last year to offset higher raw material costs. Excluding costs associated with restructuring, operating margin improved by 40 basis points.

Retail Branding and Information Solutions (RBIS): Consistent with recent trends, sales declined approximately 4 percent, reflecting lower unit demand from retailers and brands in the U.S. and Europe.
Operating margin declined 130 basis points to 2.0 percent as the impact of lower volume, as well as the effects of a prior year legal settlement and higher restructuring costs, were partially offset by the net benefit of productivity initiatives. Excluding costs associated with restructuring and other items, operating margin declined by 60 basis points.

Other specialty converting businesses: Sales increased modestly due to pricing, partially offset by lower volume.
Despite lower volume and higher costs associated with restructuring actions, operating margin improved 130 basis points to approximately break-even due to the benefit of pricing and productivity actions. Excluding costs associated with restructuring, operating margin improved by 280 basis points.

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04.26.2012

McClatchy Reports First Quarter 2012 Results

The McClatchy Company (NYSE-MNI) today reported a net loss in the first quarter of 2012 of $2.1 million or 2 cents per share. In the first quarter of 2011 the company reported a net loss of $2.0 million or 2 cents per share.

Revenues in the first quarter of 2012 were $288.3 million, down 5.1% from the first quarter of 2011. Advertising revenues were $209.8 million, down 6.8% from 2011, and circulation revenues were $66.4 million, up 0.4%. Digital advertising revenues grew 2.7% in the first quarter of 2012 and were 22.2% of total advertising revenues compared to 20.1% of total advertising revenues in the first quarter of 2011.

The net loss in the first quarter of 2012, excluding the net impact of these items, was $2.5 million compared to a net loss in the first quarter of 2011 adjusted for similar items of $3.4 million.

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04.26.2012

O-I Reports First Quarter 2012 Results

Owens-Illinois, Inc. today reported financial results for the first quarter ending March 31, 2012.

First Quarter Highlights
Earnings: O-I reported first quarter 2012 earnings from continuing operations attributable to the Company of $0.73 per share (diluted), compared to $0.50 per share (diluted) in the same period of the prior year. Adjusted net earnings (non-GAAP) were $0.73 per share, compared to $0.53 per share in the first quarter of 2011.

Sales and Price: Net revenue increased from the prior year due to the successful negotiation of higher pricing to offset high cost inflation.

Strong Operating Performance: Good manufacturing performance and cost-cutting initiatives improved first quarter segment operating profit over the prior year. Also, first quarter 2012 performance exceeded the prior year's first quarter due to the non-recurrence of cost penalties associated with flooding in Australia last year.

First quarter net sales were $1.739 billion in 2012, up from $1.719 billion in the prior year first quarter, primarily due to higher pricing that exceeded unfavorable foreign currency translation.

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04.26.2012

Clearwater Paper Reports First Quarter 2012 Results Led by Strong Consumer Products Results

Clearwater Paper Corporation today reported financial results for the first quarter of 2012.

The company reported net earnings of $3.7 million, or $0.16 per diluted share, for the first quarter of 2012, compared to net earnings of $5.6 million, or $0.24 per diluted share, for the first quarter of 2011. Excluding $6.7 million in discrete tax items mostly associated with converting gallons from the Cellulosic Biofuel Producer Credits to Alternative Fuel Mixture Tax Credits, first quarter 2012 net earnings were $10.4 million, or $0.44 per diluted share. Excluding a net tax charge of $1.9 million, or $0.08 per diluted share, related to a number of discrete tax items, first quarter 2011 net earnings were $7.5 million, or $0.32 per diluted share.

First quarter 2012 earnings before interest, taxes, depreciation and amortization, or EBITDA, was $45.2 million, compared to $41.7 million in the first quarter of 2011. EBITDA in the first quarter of 2012 included $1.1 million of operating income from the company's Shelby, North Carolina facility and an estimated $5.3 million in net cost savings from synergies associated with the acquisition of Cellu Tissue Holdings, Inc. First quarter 2012 EBITDA was also impacted by $15.5 million of scheduled major maintenance costs, compared to $11.4 million in the first quarter of 2011.

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04.26.2012

Presstek 75DI Is Selected to Better Meet Today's Market Conditions

Presstek, Inc., a leading supplier of digital offset printing solutions to the printing and communications industries, today announced the sale of a Presstek 75DI digital offset press to a large North America based packaging converter. This six-color 75DI with an inline aqueous coater marks one of the largest Presstek 75DI press orders to date.

"This is a very exciting sale for Presstek," said Stan Freimuth, Presstek's Chairman, President & CEO. "The 75DI is a strong fit for packaging converters and we've been focusing attention on this segment. It is very satisfying to see these efforts come to fruition," Freimuth adds, "as this order continues to validate the Company's growth strategies of expanding up-market and into new segments."

The Presstek 75DI is a highly automated 29" (B2+) digital offset press that is available in 4- to 10-color configurations. It has a full range of productivity enhancing options, including an inline aqueous coater. The 75DI features support for 300 lpi and FM screening, 6-minute job-to-job turnover (including on-press plate imaging), and a small environmental footprint. The press prints up to 16,000 six-up sheets per hour on stocks of thicknesses of up to 31 points (0.8mm).

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04.26.2012

Domtar Business Papers - Important Pricing Information

Effective with shipments on May 29th, 2012, Domtar will increase its pricing on all white Business Papers, both mill branded and private label, by $2.00/cwt. Multipurpose Colors will also increase by $2.00/cwt.

All standard differentials for support sizes and recycled products apply.

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04.25.2012

Meredith Corporation Reports Fiscal 2012 Third Quarter Results

Meredith Corporation, the leading media and marketing company serving American women, today reported fiscal 2012 third quarter earnings per share of $0.47, including a special charge of $0.19 per share. Excluding the special charge, earnings per share were $0.66, in-line with Meredith's previously stated expectations. Revenues increased to $346 million. These results compare to fiscal 2011 third quarter earnings per share of $0.67 and revenues of $339 million.

Lacy noted several business highlights achieved during the quarter:
•Local Media Group non-political advertising revenues grew 5 percent, the 10th consecutive quarter of year-over-year growth. Operating profit grew more than 70 percent to $23 million, a record for a fiscal third quarter and, combined with a 4 percent decrease in expenses, produced a strong 37 percent EBITDA margin.
•National Media Group advertising revenues grew 2 percent and circulation revenues increased 15 percent. Growth was fueled by the recent acquisitions of Allrecipes.com, EveryDay with Rachael Ray and FamilyFun. Excluding the recent acquisitions, advertising revenues were down 7 percent and circulation revenues grew 3 percent.
•Digital advertising revenues in both the National and Local media groups rose 70 percent. Growth in the National Media Group was driven equally by existing Meredith Women's Network websites and the addition of Allrecipes.com.
•Consumer engagement remained strong across the Company. Meredith magazine readership increased to a record 115 million, and Meredith's local television station group produced a strong February ratings book. Additionally, Meredith delivered record website traffic across its digital activities, including more than 40 million unique visitors in March, reflecting the inclusion of Allrecipes.com.

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04.25.2012

Catalyst Paper Price Announcement - Pacificote / Electracote Brite / Electracote

Please be advised that, effective July 1, 2012, US pricing on shipments from Catalyst Paper (USA) Inc. will increase by US$2.00/cwt ($40.00/short ton) for the following grades:

Pacificote; Electracote Brite; Electracote

Increase applies to all brightness, finishes, and basis weights.

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04.25.2012

Buckeye's Third Quarter FY 2012 Results

Buckeye Technologies Inc. today announced third quarter adjusted net income* of $27.0 million or $0.67 per share, which excludes after-tax restructuring and asset impairment charges of $0.8 million, or $0.02 per share, related to the closure of the cotton linter pulp production line in Americana, Brazil and sale of its converting business in King, North Carolina, and after-tax interest expense of $0.4 million or $0.01 per share related to cellulosic biofuel credits. Adjusted net income* was down 7% as compared to the prior year period's $29.0 million, or $0.71 per share, which excluded after tax costs of $0.3 million, or $0.01 per share, primarily related to accrued interest associated with cellulosic biofuel credits.

Net sales of $217 million were down $21 million or 9% versus last year's third quarter sales of $238 million. About $11 million of the reduction in sales was related to the closure or divestiture of under-performing and non-core assets. Nonwovens sales were down $7 million or 11% year over year excluding the impact of the January 31st divestiture of the Merfin Systems converting business. The primary driver was lower shipment volume in North America. The $0.04 reduction in adjusted EPS* compared to the prior year period was the result of the power outage at the Foley specialty wood fibers mill, which the Company announced in late February. The impact of the King divestiture and Americana plant closure on adjusted EPS compared to the year ago quarter was insignificant. An overall net increase in selling prices combined with lower direct manufacturing costs mostly offset the effect of reduced shipment volume and a less favorable mix.

Comparing the third quarter to the second quarter of fiscal 2012, sales were down $10 million or 4%. About $9 million of this reduction in sales was related to business divestitures and plant closures. Nonwovens sales were down about $1 million due to a weaker Euro and reduced pricing. While sales volume in Europe was up compared to a seasonally weak second quarter, nonwovens sales volume in North America was down by an offsetting amount. Adjusted operating income* was down $1.0 million due to the negative impact of the February power outage at the Foley mill ($2.4 million net of expected insurance proceeds). The January 1st price increase on our specialty wood pulp grades more than offset lower fluff pulp pricing and a less favorable specialty fibers shipment mix. Costs were relatively stable between the second and third quarters of fiscal 2012. The impact of divestitures and plant closures on operating income between these two quarters was positive $0.3 million. Adjusted EPS* of $0.67 was down $0.02 compared to $0.69 in the second quarter due to the $0.04 impact of the February power outage at the Foley mill.

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04.25.2012

Internet display ad revenue grew 14.9% in 2011

The Interactive Advertising Bureau has released its report on Web-based advertising revenue for 2011, with revised data for 2010. According to the report, total online advertising reached a record high of $31 billion, up 22 percent over 2010’s total of $26 billion. Display-related ad revenue, including banner advertising, totaled $11.1 billion in 2011, up 14.9 percent over 2010.

The largest portion of ad revenue came from search engine engine advertising, at 44.8 percent of the total in 2010, and increasing its slice of the pie in 2011 to 46.5 percent. Excluding the search-based revenue, perhaps the portion of least interest to the b-to-b media and information industry, digital ad revenue rose 18 percent from $14.4 billion to $16.7 billion.

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04.25.2012

Press+ offers special deal to publishers

Last week, Google closed down its Google One Pass service, a platform to help publishers generate online subscription revenue. This week, RR Donnelley & Sons Co.'s Press+, which is also an e-commerce platform that helps publishers implement a metered subscription model, said it will “grandfather” in subscribers at no charge for publishers that had used Google One Pass.

Press+ said 349 publishers, which include newspapers, magazines and online-only sites, have launched paid models using its platform.

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04.25.2012

Oil Trades Near One-Week High; Goldman Sees Demand Gain

Oil traded near the highest level in a week in New York after the American Petroleum Institute said crude inventories fell in the U.S., the world’s biggest consumer of the commodity.

U.S. stockpiles decreased by 985,000 barrels last week, the industry-funded API said. An Energy Department report today is forecast to show a gain of 2.8 million barrels. Goldman Sachs Group Inc. said crude prices will rise as demand growth outpaces production capacity and that increased output by Saudi Arabia, the biggest producer in the Organization of Petroleum Exporting Countries, has left the group’s spare capacity at less than 1 million barrels a day.

“There might be some speculative buying ahead of the Energy Department numbers,” said Eugen Weinberg, head of commodities research at Commerzbank AG in Frankfurt, who last month correctly predicted prices had peaked in the short term. “But U.S. demand remains weak before the driving season, and inventories high, so in the absence of the geopolitical issues, markets would justify lower prices.”

Crude for June delivery advanced as much as 61 cents, or 0.6 percent, to $104.16 a barrel in electronic trading on the New York Mercantile Exchange. The contract was at $104.09 at 11:07 a.m. London time. U.S. crude rose 44 cents to $103.55 yesterday, the highest close since April 17.

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04.25.2012

Facebook ad revenue up 37%

Facebook ad revenue increased 37% to $872 million in the first quarter of 2012, compared with $637 million in the first quarter last year. That represented 82% of Facebook's total first quarter revenue. Total revenue rose 45% to about $1.1 billion in the first quarter.

The social network reported a dip in net income to $205 million in the first quarter of the year, compared with $233 million in the same quarter last year. The numbers were reported in Facebook's amended Securities and Exchanges Commission (SEC) filing on April 23.

The ad revenue increase was attributed to a 35% increase in the number of ads delivered, Facebook stated in the filing.

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04.25.2012

Weiss Communications Sells Indianapolis Woman Assets to Private Investor Group

Weiss Communications’ Indianapolis Woman, a regional closed circulation magazine reaching 150,000 readers monthly, sold its publishing rights in an assets deal to an Indiana-based private investor company. As a result of the sale, Weiss’ 14-person staff will be let go.

Weiss Communications, led by president/publisher/CEO Mary Weiss, purchased Indianapolis Woman in 1994. The May issue will be the last published by Weiss. At time of closure, the magazine has a monthly circ of 45,000.

Indianapolis Woman is Weiss Communications’ only publication. The publisher launched sister publication St. Louis Woman magazine in 2006, which then folded in 2010.

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04.25.2012

MWV Reports First Quarter Results

MeadWestvaco Corporation, a global leader in packaging, reported a four percent sales increase for the first quarter of 2012, reflecting higher volumes in targeted markets for food, beverage, home and garden, and healthcare packaging as well as increased volumes of higher value specialty chemical solutions.

Income from continuing operations of $49 million, or $0.28 per share ($60 million or $0.34 per share ex-items), declined compared to the previous year primarily due to lower earnings from the company's land management business and a planned mill maintenance outage in the Food & Beverage segment. The company increased profits in its Home, Health & Beauty; Specialty Chemicals; and Consumer & Office Products segments compared to the prior year. Industrial packaging earnings, primarily from the company's corrugated operations in Brazil, were essentially in-line with the prior year.

"With a solid start to 2012, including sales growth and solid earnings in the first quarter, we continue to build on our positive momentum by executing a very clear profitable growth strategy," said John A. Luke, Jr., chairman and chief executive officer of MWV. "We are focused on solving our customers' packaging needs in global end markets and fast-growing geographies, and in doing so we are earning more of their packaging spend and gaining share in the market segments with the greatest profit potential. Our results in the first quarter indicate that our strategy is working."

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04.25.2012

Amazon strikes a tax deal with Nevada

Amazon.com Inc.1500Amazon.com Inc. Mass MerchantOnline Sales:$34,200,000,000Growth:39.5%See More. will start collecting sales tax on items bought by consumers in Nevada under an agreement announced late yesterday by Gov. Brian Sandoval.

The deal requires the e-retailer, No. 1 in the Internet Retailer Top 500 Guide, to collect the taxes starting Jan. 1, 2014, or earlier if a federal law is enacted that allows states to mandate sales tax collection by online retailers. The terms of the deal with the state’s Department of Taxation is similar to recent deals Amazon has signed with other states, including Virginia, Indiana and Tennessee.

Sandoval, a Republican, says he will work for that federal law. “The only way to completely resolve this issue is for Congress to enact legislation that, within a simplified nationwide framework, grants states the right to require collection by all sellers,” Sandoval said in a statement. “We thank Amazon for creating jobs and investment in Nevada and are very grateful the company is working with us on a federal solution.”

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04.25.2012

Cosmopolitan for Latinas Launches

The very global Cosmopolitan brand (67 editions worldwide) comes home with today's (April 25) Hearst Magazines release of the debut of the English-language Cosmopolitan for Latinas. The opening publishing plan is twice yearly with a 540,000 print run (350,000 of which going targeted Cosmo subscribers) along with a digital edition available on Apple, Zinio and Barnes & Noble e-newsstands.

Plus, the 3.1 million rate-base Cosmo flagship will add "bonus" Hispanic-women-targeted editorial content in selected markets beginning with the July issue.

All done, says Cosmo for Latinas founding editor-in-chief Michelle Herrera Mulligan (ex-Latina/Time/InStyle/Glamour), "to fill a huge void. There are 20 million Latinas in the U.S., with just 110,000 of them reading [the monthly Spanish-language] Cosmo en Español. Further, about one in four are familiar with Cosmo, but we have special needs in living between two cultures. Beauty and style are defined differently, and although we will match the 'take no prisoners bad-ass Cosmo voice' about relationships and sex, we also inform readers how that can coexist in a culture known for family values. Latinas' backgrounds are typically much more conservative than the average American woman."

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04.25.2012

Price Increase Announcement- FutureMark Paper Company

Effective with all orders shipping on or after July 1, 2012, FutureMark Paper Co. is increasing the transaction price of all Coated Groundwood publication grades by $2.00/cwt ($40.00/short ton). This increase applies to all basis weights and finishes of: Connection 76 Bright, Connection 80 Bright and Choice.

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04.25.2012

Semper Finds a Boost in Optimism Among Printers Surveyed

In its latest quarterly market survey, Semper International (a leading placement firm for skilled help for graphic arts and printing companies) found that industry sales foundered during late February and March, but bounced back in April, creating optimism about revenues in the coming months.

“Responses show a slight decrease in the percentage of companies experiencing profitability, less than 2 points compared to last quarter. Close to half of the respondents (41 precent) saw an increase in sales during the last two weeks of the quarter,” notes Dave Regan, CEO of Semper. “Traditionally, the spring is a busy time, and the marketplace expects the annual jump in sales.”

“The general economic climate is still the top competitive threat. Rising gas prices and worries about the international community have taken their toll,” continues Regan.

Since February 2003, Semper has provided a quarterly survey offering estimates of trends in the printing and graphics industries. To prevent bias, survey questions—both qualitative and quantitative—are designed by the firm’s corporate partner Cvent.

Survey participants include more than 300 small-, medium- and large-size printing companies—both clients and prospects of Semper International. Participants provide data on revenue and hiring, as well as estimated outlooks on future trends. Data is requested from a random sample and is not screened. To preserve confidentiality, individual company information is not part of the tabulation.

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04.25.2012

SCA has accepted DS Smith´s formal offer

SCA has accepted DS Smith´s formal offer to acquire the packaging operations in France following consultations with appropriate works councils. As a result, a sale and purchase agreement has been signed by both parties.

On 17 January 2012, SCA announced that its packaging operations – excluding the two kraftliner mills in Sweden – will be sold to DS Smith. The agreed purchase price amounts to EUR 1.7bn on a debt free basis.

As for the French part of the packaging operations, the price for which is included in the announced purchase price, DS Smith had made a formal offer to acquire also those operations. This acquisition was subject to consultation with the French works councils and has been managed separately.

After the consultation with the French works councils has been completed, SCA has accepted DS Smith's formal offer, and as a result, a sale and purchase agreement for the French operations has now been signed.

Following the signing of the sale and purchase agreement, the process will continue towards completing the entire transaction, which includes review of relevant competition authorities. Closing of the transaction is expected to take place in the second quarter 2012.

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04.24.2012

Oil Near Two-Day Low on Forecast of Rising U.S. Supplies

Oil traded near the lowest closing level in two days in New York before data that may show inventories rose to an 11-month high in the U.S., the world’s biggest consumer of the commodity.

Futures for June settlement slipped as much as 0.3 percent. U.S. stockpiles increased 2.65 million barrels last week to 371.7 million, according to the median estimate of eight analysts surveyed by Bloomberg News before a government report tomorrow. The U.S. may still tap strategic reserves to limit price gains stoked by tension with Iran, with a release probably before a European Union embargo starts on July 1, Societe Generale SA said.

“There’s a moderate oversupply,” said Hannes Loacker, an analyst at Raiffeisen Bank International AG in Vienna who predicts crude will retreat about $5 a barrel next month. “Supply concerns are fading despite the geopolitics.”

Oil for June delivery was at $102.94 a barrel in electronic trading, 17 cents lower at 10:22 a.m. London time on the New York Mercantile Exchange. The contract fell 77 cents to $103.11 yesterday, the June future’s lowest close in two days.

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04.24.2012

Ennis, Inc. Reports Results for the Year and Quarter Ended February ,

Ennis, Inc., today reported financial results for the quarter and year ended February 29, 2012.

Our consolidated net sales for the quarter were $121.5 million, or down 7.5% from $131.4 million for the same quarter last year. Our print sales for the quarter were $72.4 million as compared to $66.2 million for the same quarter last year, an increase of $6.2 million, or 9.4%. Our apparel sales at $49.1 million for the quarter were down $16.1 million as compared to $65.2 million for the same quarter last year due to softness in the market and continued pricing pressures. Overall our gross profit margins ("margins") for the quarter were 21.8% as compared to 27.5% for the same quarter last year. On a segment basis, our print margins increased from 26.9% to 28.3%, while our apparel margins, due to continued higher input costs, primarily cotton, decreased from 28.0% to 12.2%. Our net earnings for the quarter, which were impacted by lower apparel sales and margins, were $3.3 million or $.13 per diluted share, as compared to $9.8 million or $.38 per diluted share for the same quarter last year.

For the year, our net sales decreased from $550.0 million for the fiscal year ended February 28, 2011 to $517.0 million for the fiscal year ended February 29, 2012, or a decrease of 6.0%. Our print sales for the year were at $278.0 million, compared to $272.7 million for last year, an increase of $5.3 million, or 1.9%. Our apparel sales for the year were $239.0 million, as compared to $277.3 million, or a decrease of 13.8%. Overall our margins decreased from 28.1% to 25.2% for the year ended February 28, 2011 and February 29, 2012, respectively. Our print margins increased slightly during the year from 28.3% to 28.4%, while our apparel margins decreased from 27.9% to 21.6%, again due to higher input costs and pricing pressures. Our net earnings decreased from $44.6 million, or 8.1% of sales for the year ended February 28, 2011, to $31.4 million or 6.1% of sales for the period ended February 29, 2012. Our diluted earnings decreased from $1.72 per share to $1.21 per share for the year ended February 28, 2011 and February 29, 2012, respectively.

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04.24.2012

Canfor Pulp Products Inc. Announces First Quarter 2012 Results

Canfor Pulp Products Inc. today announced its first quarter 2012 results.

For the quarter, the Company reported net income of $10.3 million or $0.13 per share and EBITDA of $28.8 million on sales of $220.0 million. Results were impacted by lower market pulp prices and a strengthening Canadian dollar. The decline in pulp prices was partially offset by lower unit manufacturing costs and strong shipments of the Company’s pulp and paper products.

The Northwood Pulp Mill production exceeded expectations setting an average daily production record for the quarter. There were no maintenance outages in the first quarter of 2012. Maintenance outages are planned for the second quarter of 2012 at the Intercontinental Pulp Mill and Prince George Pulp and Paper Mills.

Global softwood pulp markets have strengthened as we approach the spring maintenance period. Global producer inventory levels decreased to 31 days of supply during the quarter as compared to 36 days of supply at the end of December 2011. NBSK pulp list prices increased US$25 in Europe to US$850 and increased US$20 in China to US$710 during the quarter. However, North American prices settled at US$870 for the quarter after declining US$20 in January.

The global softwood pulp market is projected to improve modestly through the second quarter. For the month of April, the Company has announced NBSK pulp list price increases of US$30 in North America to US$900, US$20 in Europe to US$870, and US$30 in China to US$740.

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04.24.2012

Portucel announces results for First Quarter 2012

In a particularly harsh economic environment, the Portucel Group recorded turnover of € 353.0 million in the first quarter of 2012. This figure compares with turnover of € 369.2 million in the first quarter of 2011 and represents a decline of 4.4%, due essentially to a substantial fall in pulp prices and to the reduction in pulp available for sale.

Despite rising prices for hardwood pulp over the first three months of the year, the average price recorded during the period was lower than in the same period in 2011. The average figure for the market index, PIX BHKP, stood at 534 €/ton, down from 622€/ton and representing a drop of 14.2%. The value of pulp sales was also hit by maintenance stoppages at two of the Group’s production units and by increased integration of pulp in paper products.

On the paper side, the market remained fairly stable, reflecting an improved balance between supply and demand, now that several previously announced closures have taken place. The paper benchmark index – PIX B-Copy – remained unchanged in relation to the 1st quarter of 2011, at an average of 861€/ton. Paper sales held relatively steady, in terms of both quantity and value, despite a sharp drop in apparent consumption in Europe in comparison with the same period in the previous year.

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04.24.2012

Google Folds Paid Content Service One Pass

After only a year and some change, Google folded its paid content platform One Pass. According to reports, Google made the decision public on its blog.

One Pass launched in early 2011, shortly after Apple announced its subscription model. The service appeared to be another option for publishers who did not want to play by Apple’s subscription rules; One Pass promised participating publishers the freedom to set their own prices and terms of sale for digital content on Android platforms.

Another draw of the service was the pay cut: publishers kept 90 percent of their sales, while Google only had claim to 10 percent. Despite a revamp in February 2012, the company announced on April 20 that the service folded, “We are working with existing partners to make the transition from One Pass to other platforms, including Google Consumer Surveys. While One Pass is going away, we will continue working with publishers to build new tools.”

Bonnier signed on as one of Google One Pass’s launch partners, and vice president/group publisher of the technology group Steven Grune shared some details of the experience with FOLIO:, “The concept was to provide a Google newsstand for Android tablets and offer a subscription service to consumers. Since the initial concept, nothing tangible ever happened and no specific offerings were implemented. To our knowledge, no consumer product ever launched.”

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04.24.2012

Stora Enso Interim Review January–March 2012

Earnings remained moderate as expected, liquidity further improved

• Operational EBIT decreased year-on-year to EUR 147 (EUR 258) million mainly due to lower prices in Printing and Reading and Biomaterials, and lower volumes in Renewable Packaging. Operational EBIT was similar to Q4 2011.
• Cash flow from operations strong at EUR 224 (EUR 163) million. Liquidity improved to EUR 1 251 (EUR 1 108) million year-on-year.
• Plan to build plantation-based integrated board and pulp mills at Beihai city in Guangxi, China.
• Profit improvement action plans in Renewable Packaging, and Printing and Reading announced during Q1 2012.
• Q2 2012 sales are forecast to be slightly higher and operational EBIT approximately in the range of Q1 2012 as there will be maintenance stoppages in several European mills and the benefits of improving variable costs are expected to become only slowly apparent in the results.

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04.24.2012

Resolute Announces Take-Up of Additional Fibrek Shares and Extension of Offer to May 4

AbitibiBowater Inc., doing business as Resolute Forest Products, today announced that it has taken up and accepted for payment 2,664,351 additional shares of Fibrek Inc. deposited to its offer as of the close of business today. Together with the shares the Company acquired on April 11, Resolute holds approximately 48.8% of the currently outstanding Fibrek shares. As aggregate consideration for the shares taken up today, Resolute will distribute approximately 76,000 newly-issued shares of its common stock and CAD$1.5 million in cash through RFP Acquisition Inc., a wholly-owned subsidiary.

The Company also announced that it has extended to 5:00 p.m. on May 4 the expiry time for its offer. As further described in the offer circular and other ancillary documentation related to the offer (as amended), Resolute intends to carry out a second step transaction to acquire the Fibrek shares not deposited in the offer.

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04.24.2012

Pratt Industries hits milestone at Staten Island facility

Pratt Industries, a major paper recycler and manufacturer, and its Staten Island, N.Y., plant recently reached 4.6 million tons of recycled material produced in the city’s five boroughs, the Staten Island Real-Time News reported.

The plant opened in 1997. In 2006, Pratt proceeded with a $20 million expansion that included a material recovery facility to handle paper and plastic recyclables. The expansion also included a corrugated box factory, where recycled paper is converted into corrugated boxes for Home Depot and Kraft Foods, among others.

"Everyone talks about the importance of recycling, and Pratt deserves recognition for recycling 1,200 tons of paper each day that would otherwise take up space in a landfill somewhere," Borough President James P. Molinaro told the newspaper.

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04.24.2012

The McGraw-Hill Companies Reports Record 1st Quarter Revenue and Adjusted Earnings

The McGraw-Hill Companies today reported record revenue of $1,331 million in the first quarter, an increase of 6% compared to the same period last year. Net income from continuing operations was $123 million and diluted earnings per share were $0.43.

Excluding the impact of one-time costs related to the Growth and Value Plan, adjusted net income from continuing operations increased 19% to $144 million and adjusted diluted earnings per share increased 30% to a record of $0.51. This increase was primarily due to strong growth in Commodities & Commercial and S&P Capital IQ / S&P Indices.

"With record first quarter results, we are off to a great start to 2012," said Harold McGraw III, chairman, president, and chief executive officer of The McGraw-Hill Companies. "The results are particularly gratifying in light of all of the effort our employees are making to prepare for the separation of the Corporation by year-end into two highly focused industry leaders."

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