Bemis Company Reports Second Quarter Results and Announces Restructuring Program in Latin America

• Second quarter adjusted diluted earnings per share were $0.67 in 2016 ($0.53 on a GAAP basis). • Adjusted return on invested capital was 10.4 percent at June 30, 2016, compared to 10.0 percent at June 30, 2015. • On April 29, 2016, Bemis acquired the medical device packaging operations and related value-added services of SteriPack Group. • Bemis initiated a restructuring program, reflecting in part the further integration of the recent Emplal acquisition. The Company will close four plants in Latin America to improve efficiencies and reduce fixed costs. ◦ Total program charges incurred throughout 2016 and 2017 are estimated to be $28 to $30 million (at current exchange rates). ◦ Cost reductions from the program are expected to reach the full run rate of approximately $16 million (at current exchange rates) annually during 2018. click Read More below for details
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Appleton Coated Recognized as one of National Top 100 Partners in EPA Green Power Partnership Rankings

Appleton Coated is one of the 100 Top Partner companies recognized by the United States Environmental Protection Agency (EPA) this week for its use of Green Power. Appleton Coated has been a Partner with the EPA Green Power Partnership® since 2011 and named to the National Top 100 in 2014 and 2015. Appleton Coated’s Green Power is matched with Green-e® certified Renewable Energy Certificates (RECs). Appleton Coated is one of only 2 paper mills on the list alongside other Top 100 members Apple®, Pearson®, Starbucks®, and University of Wisconsin. Appleton Coated CEO Doug Osterberg comments, “We are very pleased to be recognized by the United States EPA for our efforts. At Appleton Coated our commitment to sustainable practices includes the products we make and the power we use to make them. We want to make it easy for all of our customers – including many who are also Top 100 partners - to choose environmentally responsible paper products. We want to assure them that they are working with a mill partner that prioritizes sustainability practices internally and in the market place.”
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Cabela’s Inc. Announces Second Quarter 2016 Results

- Second Quarter GAAP Diluted EPS of $0.55 and Non-GAAP Diluted EPS of $0.59 - Retail Comparable Store Sales Increased 1.5% on a Shift-Adjusted Calendar Basis - Internet and Catalog Sales Increased 3.3% - SD&A Leverage of 280 Basis Points on a GAAP Basis and 330 Basis Points on a Non-GAAP Basis - Total Revenue Increased 11.2% to $929.9 Million - Cabela’s CLUB® Avg. Receivables Grew 15.5%. click Read More below for details
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International Paper Reports Second Quarter 2016 Earnings

Industrial Packaging operating profits in the second quarter of 2016 were $487 million ($459 million including special items) compared with $433 million ($396 million including special items) in the first quarter of 2016. In North America, earnings increased $58 million driven by improved operations and higher box shipments due to seasonally stronger market demand and one more shipping day. This was partly offset by modestly lower average sales prices for North America boxes and export containerboard. Printing Papers operating profits were $101 million ($96 million including special items) in the second quarter of 2016 versus $85 million in the first quarter of 2016. Earnings in North America were mixed, as the papers business declined primarily due to increased planned maintenance outages. However, pulp improved due to lower conversion and outage costs associated with the Riegelwood mill conversion, partially offset by a less favorable product mix and lower pulp prices. In Brazil, earnings were essentially flat quarter over quarter, as higher planned maintenance outage costs offset higher export sales volumes and improved domestic prices. Earnings in Europe were impacted by higher planned maintenance outage costs. Consumer Packaging operating profits were $73 million in the second quarter of 2016 compared with $25 million ($16 million including special items) in the first quarter of 2016. The earnings increase was primarily due to no planned maintenance outages in North America, good operational performance, as well as lower overall manufacturing costs. Foodservice business earnings increased $7 million, primarily driven by seasonally higher sales volume and cost improvements. click Read More below for details
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Oil Trades Near Three-Month Low After Surprise U.S. Supply Gain

West Texas Intermediate for September delivery was at $41.79 a barrel on the New York Mercantile Exchange, down 13 cents, at 11:14 a.m. London time. The contract lost $1 to $41.92 on Wednesday, the lowest close since April 19. Total volume traded was about 15 percent below the 100-day average. Brent for September settlement, which expires Friday, fell 44 cents to $43.03 a barrel on the London-based ICE Futures Europe exchange. Prices dropped 3.1 percent to $43.47 a barrel on Wednesday. The global benchmark traded at a premium of $1.23 to WTI. U.S. crude stockpiles increased to 521.1 million barrels, the first gain in 10 weeks, the EIA reported Wednesday. Output climbed for a third week to 8.52 million barrels a day. Inventories at Cushing, the delivery point for WTI and the nation’s biggest oil-storage hub, rose to 65.2 million barrels.
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Catalyst announces second quarter results

The company recorded a net loss of $26.6 million and a net loss before specific items of $27.3 million in the second quarter. This compared to net earnings of $16.9 million and a net loss before specific items of $5.1 million in the previous quarter. Adjusted Earnings Before Interest Tax Depreciation and Amortization (adjusted EBITDA) was negative $5.3 million and adjusted EBITDA before specific items was negative $1.1 million in the second quarter. This compares to adjusted EBITDA of $17.1 million and adjusted EBITDA before specific items of $17.7 million in the previous quarter. Liquidity declined from $84.0 million as of March 31st to $74.5 million as of June 30, 2016. Year to date adjusted EBITDA of $11.8 million was $17.0 million higher than the negative $5.2 million adjusted EBITDA reported in the same period last year. click Read More below for details
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DOME Print and Marketing Solutions Installs EFI’s Two Newest VUTEk Production Inkjet Printers

DOME Print and Marketing Solutions is meeting rising demand for high-quality, superwide-format inkjet graphics with a pair of strategic investments in its new manufacturing facility. DOME, which is one of Northern California’s leading independent commercial print businesses, has upgraded its superwide-format inkjet production operations, becoming one of the first on the West Coast to install an EFI™ VUTEk® HS125 Pro hybrid roll/flatbed inkjet press and an EFI VUTEk LX3 Pro hybrid LED inkjet printer. Based in Sacramento, Calif., DOME is a family-owned business with a diverse customer base that includes many well-known retail brands. The new EFI VUTEk installations will provide the upgraded speed and quality the company needs to produce a growing volume of indoor signage with tight turnaround times. “Our single largest growth area is in retail,” said Bob Poole, DOME’s chief marketing officer. “And our technology investment with the new VUTEk printer purchases is driving a lot of that growth because it helps us print better-quality work at faster speeds.” click Read More below for additional info
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Gannett Reports Second Quarter 2016 Results of Operations

Recent highlights include: •Net income of $12.3 million. Adjusted EBITDA of $89.7 million. Adjusted EBITDA margin of 12.0%. •National digital advertising revenue up 22.4%, up 18.5% excluding acquisitions. •Digital-only subscriptions grew 40%. •Completed the acquisition of Journal Media Group, Inc. (JMG) and North Jersey Media Group. •Announced the planned acquisition of digital marketing solutions leader ReachLocal (NASDAQ: RLOC). •USA TODAY NETWORK won The Native Creatives competition for branded VR campaign. •USA TODAY NETWORK publications The Detroit Free Press, Milwaukee Journal-Sentinel, and Burlington Free Press won Edward R. Morrow awards. click Read More below for details
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Corruption and illegal logging: the “twins” of environmental criminality

Without serious intervention against corruption, it will be impossible to address the problem of illegal timber trafficking in Europe. Presenting its findings in Rome, the TREES project has successfully shed light on the role that bribes play in encouraging the illegal timber trade in Europe. “Corruption is strongly connected to the illegal timber trade, but at the same time appears to be a ‘victimless crime’,” said Antonio Brunori, Secretary General of PEFC Italy, a TREES partner. Identifying corruption It is traditionally very hard to identify corruption, as it is based on an agreement between several parties, all involved with mutual benefits. Moreover, the corruption (at least formally) produces documents that hide the irregularities - when all the documents appear to be legal and correct, it is extremely difficult to detect the crime. “It is vital that we act to minimize this type of criminal activity occurring within the forestry sector, in order to minimize the damage to the environment and the enterprises that work legally,” Mr. Brunori continued. “The findings from the TREES project will provide an important starting point.” click Read More below for additional information
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Orchids Paper Products Company Announces 2016 Second Quarter Results

Three-month period ended June 30, 2016: Net sales of converted product decreased 1% primarily due to: decreased shipments due primarily to increased promotional activity on branded products and inventory reductions by our largest customer. Net sales of parent rolls decreased 97% due primarily to: Management's decision to utilize parent rolls produced in Oklahoma in the Company's South Carolina facility until the South Carolina paper mill is operational. We believe this will eliminate costs of purchasing equivalent parent rolls on the open market in the last half of 2016 and provide additional margin when the tonnage is sold as converted product. Gross profit as a percent of net sales decreased 0.9% primarily due to: •higher production costs in our Oklahoma operation, primarily due to a $1.2 million increase in repair and maintenance costs, resulting in part from the planned annual cold mill outage. •a 33% increase in depreciation expense due to assets placed in service since the second quarter of 2015, including $36.6 million of assets at our South Carolina facility. •lost margins on parent roll sales. As noted above, the Company decided not to sell parent rolls in order to save costs at our South Carolina facility in the last half of 2016. click Read More below for additional detail
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