First Quarter 2016 Financial Highlights • Net revenues totaled $181.7 million, a 14% year-over-year increase. ◦ Consumer net revenues totaled $155.4 million, a 4% year-over-year increase. ◦ Shutterfly Business Solutions net revenues totaled $26.3 million, a 135% year-over-year increase. • Gross profit margin was 40.2% of net revenues, compared to 40.8% in the first quarter of 2015. • Operating expenses totaled $114.8 million compared to $111.5 million in the first quarter of 2015. • Operating loss totaled ($41.8) million compared to a loss of ($46.2) million in the first quarter of 2015. • Net loss was ($29.4) million, compared to ($45.1) million in the first quarter of 2015. • Net loss per share was ($0.85), compared to ($1.19) in the first quarter of 2015.
Sealed Air Corporation today announced financial results for first quarter 2016. Commenting on these results, Jerome A. Peribere, President and Chief Executive Officer, said, "Our first quarter results were in line with the guidance we provided on February 10, 2016 for sales and Adjusted EBITDA of approximately $1.6 billion and $245 million, respectively. We delivered first quarter net sales on positive volume and favorable price/mix despite the ongoing economic instability in Latin America. As we anticipated, Adjusted EBITDA was negatively impacted by currency headwinds, divestitures and product rationalization efforts, and formula pricing in our Food Care division. Looking ahead, we are on track to achieve our 2016 outlook for net sales, Adjusted EBITDA, Adjusted EPS and Free Cash Flow and expect our results to strengthen throughout the year. Strong customer acceptance of our new and innovative product portfolios across all divisions, positive trends in the global protein market and rapid growth in e-Commerce, combined with our ongoing commitment to productivity gains, will drive future performance."
JANUARY 1 – MARCH 31, 2016 (compared with same period a year ago) •Net sales rose 1% (5% excluding exchange rate effects) to SEK 28,177m (27,958) •Organic sales growth, which excludes exchange rate effects, acquisitions and divestments, was 3% •Operating profit, excluding items affecting comparability, rose 13% to SEK 3,247m (2,872) •The operating margin, excluding items affecting comparability, was 11.5% (10.3%) •Profit before tax, excluding items affecting comparability, rose 12% to SEK 2,922m (2,602) •Items affecting comparability totaled SEK -191m (-122), of which SEK -185m (-119) affects cash flow •Earnings per share were SEK 2.74 (2.43)
Highlights: 1st Quarter 2016 (vs. Q1 2015) · Sound performance in the quarter, with turnover at € 384.6 million · EBITDA up 14.9% to € 93.5 million, and EBITDA/Sales margin improves to 24.3% · Very positive performance in paper business: Group breaks its own record for first quarter sales volume · Lower electricity tariffs for sales to national grid bring down value of power sales · Investment plan progressing as expected · Financial costs reduced by € 6 million
Crown Holdings, Inc. will be presented with the Minnesota Governor’s Safety Award for its Faribault, MN aerosol plant on May 5th at the Minnesota Safety & Health Conference. The conference is coordinated by the Minnesota Safety Council and is the oldest and largest gathering of workplace safety and health professionals in the region. “Employers like Crown know that safety isn’t automatic,” said Paul Aasen, president of the Minnesota Safety Council. “It takes attention, dedication and continuous effort to protect their employees.”
Oil futures steadied after setting a 2016 high on Thursday as traders locked in profits, though analysts said supply disruptions, strong investor appetite and a weakening dollar could push prices higher soon. Brent crude futures were trading at $47.22 per barrel at 0942 GMT, up 4 cents from their last settlement and off an earlier high of $47.47. U.S. West Texas Intermediate (WTI) futures were down 2 cents at $45.31 a barrel.
Appvion, Inc. has announced additional pigment ink qualifications for its Triumph™ Treated Ultra P high-speed inkjet offering. Triumph Treated Ultra P is now qualified to run on Ricoh Pro VC60000 and InfoPrint 5000 Series, Kodak Prosper 5000 xii and 6000, and well as all HP T series (T200, T300, T400) inkjet presses. Appvion launched Triumph Treated Ultra P in January. The Triumph Treated Ultra P High-Speed Inkjet Paper – the product name is derived from its ultra-high performance and outstanding color outcomes with pigment inks – is engineered to deliver superior results and improved productivity with roll-fed high-speed inkjet presses using pigment aqueous inks.
Asia Pulp & Paper Group (APP) welcomes FSC’s announcement of the start of stakeholders consultation phase on the draft roadmap to end disassociation. The stakeholders consultation is now being conducted after FSC and APP agreed on a draft Roadmap for Ending Disassociation which outlines the commitments that APP needs to fulfil before the FSC Board of Directors will consider ending its disassociation. The stakeholders consultation is opened from April 4th until May 31st 2016, and will consist of a series of informational webinars as well as regional consultations.
Uncoated free sheet (UFS) paper shipments decreased for the first time in 2016, down 1 percent relative to shipments in March 2015. UFS imports were down 19 percent year-over-year in February. March coated free sheet (CFS) paper shipments decreased 8 percent compared to March 2015. Imports of CFS papers increased 12 percent in February with exports up 2 percent year-over-year. Uncoated mechanical (UM) paper shipments decreased 8 percent when compared with March 2015. Imports of UM papers were down 2 percent in February while exports of UM in February increased 56 percent compared to the previous year. Coated mechanical (CM) shipments in March decreased 4 percent when compared to March 2015. Imports of CM decreased 14 percent in February compared to February 2015.
Continuing operations January-March 2016 compared with January-March 2015 •Net sales EUR 243.7 million (EUR 251.5 million). Net sales at constant currencies declined by 2.5% •Operating profit EUR 8.7 million (EUR 11.0 million) •Adjusted operating profit EUR 12.9 million (EUR 10.3 million), representing 5.3% (4.1%) of net sales, and the tenth consecutive quarter of year-on-year improvement •Profit before taxes EUR 4.8 million (EUR 12.1 million) •Earnings per share EUR 0.01 (EUR 0.13) •Net cash flow from operating activities EUR 8.4 million (EUR -1.5 million), the first positive first-quarter operating cash flow since 2012