Domtar Corporation (NYSE: UFS) (TSX: UFS) today reported net earnings of $71 million ($1.10 per share) for the fourth quarter of 2014 compared to net earnings of $281 million ($4.33 per share) for the third quarter of 2014 and net earnings of $65 million ($1.00 per share) for the fourth quarter of 2013. Sales for the fourth quarter of 2014 were $1.4 billion.
Brent crude climbed 10 percent this week, adding to an 8.6 percent gain last week. It’s still about half the price it was in June. The CBOE Crude Oil Volatility Index, which measures price fluctuations using options of the U.S. Oil Fund, ended at 63.14 on Thursday, the most since April 2009. Saudi Arabia cut prices for March exports to Asia to the lowest in at least 14 years, signaling OPEC’s largest producer may continue to fight for market share.
AAA Fuel Gage 02/06/15 National Average Prices: http://www.fuelgaugereport.aaa.com/ Regular: Current Average - $2.166/gallon Month Ago Average - $2.194/gallon Year Ago Average - $3.270/gallon Diesel: Current Average - $2.805/gallon Month Ago Average - $3.086/gallon Year Ago Average - $3.920/gallon Current Exchange Rates as of 02/06/15 12:53 UTC American Dollar to Canadian Dollar = 0.803710 American Dollar to Chinese Yuan = 0.160176 American Dollar to Euro = 1.145848 American Dollar to Japanese Yen = 0.008526 American Dollar to Mexican Peso = 0.067866 http://www.x-rates.com/table/?from=USD&amount=1.00
Fourth Quarter 2014 Summary * Reported earnings per share increased 17% to a record $0.63 per share compared to $0.54 per share in the prior year * Comparable earnings per share for the prior year, neutralizing exceptional items and currency effects, were $0.59 * Reported sales declined 6% on foreign currency exchange rate headwinds and soft demand in certain markets
Ahlstrom, a high performance fiber-based materials company, will start on February 16, 2015, co-operation negotiations with the employee representative at its Karhula plant in Finland. The negotiations will affect the blue-collar employees at the site and may lead to temporary lay-offs of 20 people at the maximum. The aim of the negotiations is to adjust Ahlstrom's production capacity and costs to the weakened market demand for building materials.
Glatfelter (NYSE: GLT) today reported 2014 full year adjusted earnings per diluted share of $1.55 (GAAP $1.57) compared with $1.40 per diluted share in 2013 (GAAP $1.52). For the 2014 fourth quarter Glatfelter reported adjusted earnings of $19.7 million, or $0.45 per diluted share, compared with $15.0 million, or $0.34 per diluted share, in the 2013 fourth quarter. On a GAAP basis, fourth quarter 2014 net income totaled $19.6 million, or $0.45 per diluted share, compared with $16.5 million, or $0.37 per diluted share, in the fourth quarter of 2013. Consolidated net sales totaled $436.3 million in the fourth quarter of 2014 compared with $434.8 million in the fourth quarter of 2013.
The US commercial printing industry rebounded from a poor start to 2014, finishing nearly even with 2013, up +0.2% in current dollars, at $77.8 billion. Decembers shipments were strong, up +3.7% compared to 2013. It was the first positive December since 2010. At that time, however, current shipments were more that $7 billion; December 2014 shipments were nearly $6.52 billion.
Revenues in the quarter were $66 million, down 8% from $72 million in last year’s first quarter. Net income was $1.8 million or $.16 per diluted share, which includes approximately $800,000, or $.07 per diluted share, of transaction costs associated with the pending acquisition of Courier by R.R. Donnelley & Sons Company (Nasdaq: RRD), as separately announced today, and the terminated agreement with Quad/Graphics, Inc. (NYSE: QUAD), also separately announced today. Results also include $870,000, or $.05 per diluted share, of losses on foreign currency translation related to the November acquisition of a 60% interest in a Brazilian-based digital printer.
R. R. Donnelley & Sons Company (NASDAQ: RRD) and Courier Corporation (NASDAQ: CRRC) jointly announced today that they have signed a definitive agreement by which RR Donnelley will acquire Courier Corporation, a leader in digital printing, publishing and content management in the United States specializing in educational, religious and trade books. The agreement has been approved by each company’s Board of Directors.
Thoro Packaging has joined Two Sides North America, the non-profit organization that promotes and encourages the responsible production, use and sustainability of print and paper.