•For full year 2015, the Company recorded a loss from continuing operations of $0.44 per share (diluted). Excluding certain items management considers not representative of ongoing operations, adjusted earnings were $2.00 per share, in line with management guidance. These results compared with $2.07 per share in 2014 on a constant currency basis. The Company's charge in 2015 for asbestos-related costs covers a four year period of estimated asbestos claims not yet asserted against the Company versus the three year period used in the prior year. •Fourth quarter 2015 adjusted earnings were $0.40 per share, compared with $0.32 per share in the same period of 2014 on a constant currency basis. •O-I generated $210 million of free cash flow for the full year 2015, modestly exceeding management guidance. This is on par with prior year free cash flow in constant currency, which was the Company's second highest year on record.
Fourth Quarter Comparable Sales Results Gap Inc.’s comparable sales for the fourth quarter of fiscal year 2015 were down 7 percent versus positive 2 percent last year. Comparable sales by global brand for the fourth quarter were as follows: * Gap Global: negative 3 percent versus negative 6 percent last year * Banana Republic Global: negative 14 percent versus positive 1 percent last year * Old Navy Global: negative 8 percent versus positive 11 percent last year
On Friday, the American Catalog Mailers Association (ACMA) submitted a letter to Sen. Ron Johnson (R-WI), Chairman of U.S. Senate Committee on Homeland Security and Governmental Affairs, Senate Minority Leader Tom Carper (D-DE), and the entire Committee, alerting them that they missed the mark on several important points during a recent hearing on the state of the US Postal Service. Most notably, more than one witness who testified during the Jan. 21 hearing indicated there was widespread mailing industry support for "baking in" the 4.3% exigent surcharge. "This is not the case. Even within ACMA members, support is split on this," the ACMA letter reads. "Realizing that some issues remain highly polarizing, ACMA favors limited postal reform," the letter added. "We would hope that those items generally acceptable to the majority of stakeholders can be expeditiously passed into legislation, while more controversial items remain on the table for further debate and discussion. However, we are firmly opposed to extraneous postage increases with little cost improvement and overhead reduction in sight and felt some inaccurate messages were expressed during the hearing."
As more researchers and doctors recommend the benefits of handwriting for both children and senior citizens, Domtar Corporation (NYSE: UFS) (TSX: UFS) unveiled a new program today called PaperPal. The effort will connect generations through letter-writing. It will help youths develop fine motor skills, spur seniors to practice a useful cognitive exercise and give both groups a way to develop enjoyable and enriching connections. Domtar tested the program in 2015 with a school and retirement community in Van Nuys, Calif. The idea, chronicled in a short video, was so successful that the groups wanted to continue writing letters even after the initial two-month program officially ended. "Research about the benefits of handwriting shows why this program can be useful," said Paige Goff, Domtar's Vice President of Sustainability and Business Communications. "But besides the educational and cognitive benefits, Domtar is excited about how it will spark smiles and hugs for both children and senior citizens. You see that in the video, and we can't wait to see it at the new places where PaperPal will debut."
UPM Raflatac has recently received Clean Industry certification for its label stock slitting and distribution operations in Tultitlan, Mexico. To date, UPM Raflatac's Mexico facility is the first of its kind in the label industry to be awarded this certification. To achieve Clean Industry certification, companies like UPM Raflatac must meet the legal requirements for environmental protection established by The Federal Attorney for Environmental Protection (PROFEPA) in Mexico. They must also undergo a systematic evaluation of manufacturing procedures and processes (such as environmental impacts and waste management), identify any potential risks and successfully implement applicable preventive and corrective measures.
The Association of American Publishers (AAP) joined with other U.S. creative industries, whose products and services are protected by copyright laws, to ask the U.S. government for sustained engagement with Canada and China, among other markets. The submission by the International Intellectual Property Alliance (IIPA) on behalf of the copyright-based industries was made today in response to the 2016 Special 301 inquiry by the U.S. Trade Representative. Among priority concerns for publishers and learning companies is the continuing deterioration of the educational publishing market in Canada as a result of the overly broad exception to copyright for educational materials under the country’s Copyright Modernization Act.
Crude oil prices fell on Monday because of lingering concerns over a supply overhang and after a Saudi-Venezuela meeting showed few signs that steps would be taken to boost prices. Global benchmark Brent futures were down 68 cents at $33.38 at 7.12 a.m. ET, while U.S. crude futures lost 81 cents to $30.08. "There’s still a lot of concerns about the state of the crude oil stocks in the United States," said Olivier Jakob, oil analyst at Petromatrix. Weekly U.S. crude and gasoline inventories hit record highs, data from the Energy Information Administration (EIA) showed last week.
Two of Yorkshire's longest-established printing companies have merged after Platinum Print acquired local competitor Harrogate Printing. The two firms first discussed coming together at the start of last year and the deal, the cost of which was not disclosed, was completed in January. Harrogate Printing’s operations and all 20 of its staff have now moved three miles across to join Platinum Print on the other side of town. Platinum Print, which has 30 staff and a turnover of £3.5m, has taken on an adjoining building to extend its premises to 2,230sqm.
Lower e-book sales as well as lower revenue from titles in the Divergent series led to a 5% drop in sales at HarperCollins in the quarter ended December 31, 2015 compared to the quarter ended December 2014. Revenue was $446 million and excluding the negative impact of foreign currency, sales were down 3%, HC parent company new Corp said. EBITDA (earnings before interest, taxes, depreciation and amortization) fell 26% in the quarter, to $57 million. News attributed the earnings decline to the drop in e-book and Divergent sales.
PEFC Forest Certification Week not only provides an opportunity for PEFC members from around the world to gather together, but also welcomes representatives from countries actively developing national forest certification systems. This year, we welcomed representatives from Ghana, Guatemala, Nepal, Philippines, South Africa, South Korea, Thailand and Viet Nam and to our 2015 PEFC Week. “PEFC is the best way to enable the one million small-forest owners in Viet Nam to access certification,” said Bach Le Van, from the Ministry of Agriculture and Rural Development MARD. David Everard, from SAPPI South Africa, echoed this, highlighting how “PEFC offers an important solution to South African smallholders.” Other countries, including South Korea, Thailand and Viet Nam, all took the opportunity to express their desire to become part of the PEFC alliance, “We are ready to join PEFC,” said Seoggu Son, from the Korea Forestry Promotion Institute.