KapStone Paper and Packaging Corporation (NYSE:KS) today reported results for the second quarter ended June 30, 2015. As compared to 2014's second quarter, results for 2015's second quarter are below: *Net sales of $671 million up $81 million, or 14 percent *Net income of $34 million down $17 million, or 33 percent *Adjusted net income of $42 million down $14 million, or 24 percent *Adjusted EBITDA of $110 million down $16 million, or 13 percent *Adjusted EBITDA margin of 16.4 percent, down from 21.4 percent
Resolute Forest Products recently won an appeal with the assessment review board regarding the assessment for its pulp and paper mill in Thunder Bay, Ont. The review board decreased the assessment for the mill to $32.6 million from $72.2 million, for the years from 2009 to 2012. Local media report that the Thunder Bay city council has decided to accept the decision, and will refund millions of dollars to Resolute. The specific amount of the refund is not being made public. The city said it will refund the company from an assessment appeals reserve fund.
Highlights 2Q15 Reported EPS of $0.68 Adjusted EPS (non-GAAP) of $0.91 2Q15 Net sales declined approximately 6 percent to $1.52 billion. Net sales up approximately 4 percent on organic basis Repurchased 1.1 million shares for $62 million and paid $66 million in dividends in the first half of 2015 Updated FY15 Reported EPS guidance to $2.82 to $3.02, reflecting loss on sale and exit costs associated with a product line divestiture in 2Q No change to full year guidance for adjusted EPS growth of 5 to 11 percent
UPS (NYSE: UPS) today released its 13th annual Sustainability Report, highlighting its growing investment in alternative fuel and advanced technology vehicles and commitment to log 20 million hours of volunteer time by the end of 2020. With its “Rolling Laboratory” approach, UPS accelerated its investment in an alternative fuel and advanced technology fleet of more than 5,000 vehicles last year, increasing the number of vehicles by 61 percent over 2013 and adding 1,100 natural gas vehicles. According to the report, UPS logged 154 million miles in 2014 toward its goal of driving 1 billion miles with the fleet by the end of 2017 – an almost threefold increase from 2013.
Torstar Corporation today announced it has acquired a 56 percent interest in VerticalScope Holdings Inc. (“VerticalScope”), a digital media company that owns and operates more than 600 consumer enthusiast online forums and premium content sites across North America. Founded in 1999, VerticalScope(www.VerticalScope.com)is a Toronto-based vertically focused digital media company whose sites attract more than 80 million unique visitors and generate more than 500 million page views a month. The company, which has more than 130 employees, serves the North American market through its network of user forums and premium content sites offering advertisers access to large audiences in popular verticals, including automotive, powersports, outdoors and health.
Highlights Pre-exceptional EPS growth of 38% in the first half of the year EBITDA margin of 14% expected to improve sequentially through the second half of 2015 Interim dividend increased by 30% to 20 cent, bringing full year 2015 payment to 60 cent per share €189 million of acquisitions completed in the year to date Group corrugated packaging growth of over 6% year to date with underlying growth at over 4% in Europe Good progress on containerboard pricing and strong packaging demand providing underpin to corrugated price increases towards the latter part of 2015 and into 2016
“Sustainable, PEFC-certified timber provides architects and the construction industry with great opportunities,” highlighted Ben Gunneberg, CEO of PEFC International, at a recent conference on promoting green procurement in green buildings. “The possibilities are rather exciting in addressing the challenges of growing populations, especially in Asia where there is a need for housing constructed with as minimal environmental footprint as possible.”
In order to enhance its data security practices, IWCO Direct, a leading provider of direct marketing solutions, has announced it has achieved ISO/IEC 27001:2013 certification through BSI. The company has also achieved Level 1 Payment Card Industry – Data Security Standard 3.1 (PCI DSS) compliance certification. These certifications extend to Mail-Gard®, a division of IWCO Direct which provides business continuity and disaster recovery services. In 2013 IWCO Direct achieved ISO 27001:2005 and PCI DSS 2.0 certifications. Since then, both standards have been upgraded. To demonstrate its commitment to Continuous Improvement and data security, IWCO Direct devoted significant time and resources to updating and validating its practices to encompass the latest data security standards.
HP (NYSE: HPQ) today announced a definitive agreement to acquire ActiveState Software Inc.'s (ActiveState) Stackato business, an enterprise-ready Platform as a Service (PaaS) solution with Cloud Foundry at its core. ActiveState is a leading provider of open source software application development and management solutions. Stackato's open technology built on Cloud Foundry PaaS gives HP a more complete cloud offering. By providing developers a single cloud application platform with enterprise-level security and world-class support, Stackato will enhance the HP Helion Development Platform by enabling customers to bring applications to market faster by reducing the amount of time spent on IT configuration.
When Iggesund Paperboard challenged the world’s designers to create better and more sustainable consumer packaging the result was almost 200 design proposals. The company has now selected three of these to receive a reward and also opened a dialogue with more designers about being able to use their creations in various contexts. “We’re overwhelmed by the enthusiasm that greeted our project, both from the participating designers but also the attention it has received in the press,” comments Staffan Sjöberg, Public Relations Manager at Iggesund Paperboard. “And of course we’re pleased, because one of our aims was to show more designers what they can do with paperboard in general and our products, Invercote and Incada, in particular.”