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.
Ainsworth Lumber Co. Ltd. (TSX: ANS) ("Ainsworth") and Norbord Inc. (TSX: NBD) ("Norbord") today announced that the Supreme Court of British Columbia has granted a final order approving the previously announced proposed combination of Norbord and Ainsworth by way of a plan of arrangement under the Business Corporations Act (British Columbia).
Magazine statistics 2014 vs. 2013 by title.
Oil fell in New York amid speculation that the biggest strike at U.S. refineries since 1980 will curtail crude processing in the world’s leading consumer nation and worsen a global oversupply.
Berry Plastics Group, Inc. (NYSE:BERY) today reported results for its first fiscal 2015 quarter, referred to in the following as the December 2014 quarter: > Increased net sales by 7 percent to $1,220 million for the December 2014 quarter compared to $1,140 million in the December 2013 quarter
1-800-FLOWERS.COM, Inc. (NASDAQ:FLWS), the world's leading florist and gift shop, today reported total net revenues from continuing operations of $534.3 million for its fiscal 2015 second quarter ended December 28, 2014, compared with revenues from continuing operations of $266.3 million in the prior year period. Total adjusted net revenues for the quarter were $549.7 million including estimated lost revenues of $13.8 million due to the Thanksgiving-day fire at the Company's Fannie May warehouse and a $1.6 million purchase accounting adjustment to deferred revenue related to the Harry & David acquisition,.