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Recent Paperclips Industry News
27Feb 20
Submit Your Testimony for March 3rd House Hearing on Wayfair
A couple of weeks ago, we urged you to send us a letter documenting how the Supreme Court's ruling in South Dakota v. Wayfair has hindered your business operations for us to submit for the March 3rd hearing being held by the U.S. House of Representatives Small Business Committee. We have received further clarification from House staff and our advisors at The Vogel Group and now encourage you to do the following: • Write your testimony/letter/statement on company letterhead • When you sign your letter, include your name, your complete business name and complete company address • Include the name of your business's Member of Congress; click here if you need to look up your congressman • Address your letter as follows: click Read More below
27Feb 20
Clearwater Paper Reports Fourth Quarter and Year End 2019 Results
For the fourth quarter of 2019, Clearwater Paper reported net sales of $436 million, up from $429 million reported in the fourth quarter of 2018. Net income for the fourth quarter of 2019 was $2 million, or $0.12 per diluted share, compared to a net loss in the fourth quarter of 2018 of $188 million, or $11.39 per diluted share. On a non-GAAP basis, the company's adjusted income in the fourth quarter of 2019 was $6 million, or $0.37 per diluted share, compared to fourth quarter 2018 adjusted income of $7 million, or $0.45 per diluted share. Adjusted EBITDA for the fourth quarter of 2019 was $52 million compared to the fourth quarter 2018 of $47 million. For the year ended 2019, Clearwater Paper reported net sales of $1.8 billion, up from $1.7 billion reported for the year ended 2018. The company reported a net loss for the year of $6 million, or $0.34 per diluted share, compared to a net loss of $144 million or $8.72 per diluted share in 2018. On a non-GAAP basis, our adjusted net loss for 2019 was $4 million, or $0.23 per diluted share as compared to adjusted income of $42 million, or $2.54 per diluted share for 2018. Adjusted EBITDA for the year was $167 million compared to $182 million for 2018, this decrease was primarily due to planned maintenance outages.
27Feb 20
L Brands Reports Fourth Quarter and Full-Year 2019 Earnings
The company reported a loss per share of $0.70 for the fourth quarter ended Feb. 1, 2020, compared to earnings per share of $1.94 for the quarter ended Feb. 2, 2019. Fourth quarter operating income was $81.7 million compared to operating income of $799.4 million last year, and the net loss was $192.3 million compared to net income of $540.1 million last year. The company reported a loss per share of $1.33 for the year ended Feb. 1, 2020, compared to earnings per share of $2.31 for the year ended Feb. 2, 2019. Full-year operating income was $258.4 million compared to operating income of $1.237 billion last year, and the net loss was $366.4 million compared to net income of $643.9 million last year.