Fourth quarter net sales were $939 million, down $60 million, or 5.9%, from the fourth quarter of 2017. After adjusting for acquisitions, divestitures, changes in foreign exchange rates, pass-through paper sales and the adoption of new revenue recognition standards, organic net sales decreased 3.2% from the fourth quarter of 2017. The decrease in organic net sales was largely due to lower volume in Magazine, Catalogs & Logistics and Office Products partially offset by volume growth in Book and price increases in Office Products. The fourth quarter 2018 net loss was $16 million, or $0.47 per diluted share, compared to a net loss of $58 million, or $1.68 per diluted share, in the fourth quarter of 2017. The fourth quarter 2018 net loss included after-tax charges of $20 million and the fourth quarter 2017 net loss included after-tax charges of $75 million, both of which are excluded from the presentation of non-GAAP net income. Click read more below for additional detail.
Fourth Quarter 2018 Consolidated Results: • Operating revenues were $751.4 million, compared to $854.2 million in the fourth quarter of 2017. • Unfavorable changes in foreign currency exchange rates negatively impacted revenues by $4.3 million. • Same store, day adjusted operating revenues declined 8.6% year-over-year. Further adjusting for day trades as compared to the year-ago fourth quarter (one less Sunday, one more Monday), which impacts our print advertising and circulation revenues, the decline was 7.4%, an improvement of over 70 bps from the third quarter 2018 trend. • Total digital revenues were $272.3 million, or approximately 36% of total revenue. • GAAP net loss was $14.2 million, including $56.3 million of after-tax restructuring, asset impairment charges and other costs. Click read more below for additional detail.
Crude oil futures eased on Wednesday in light of the prospect of a continued boom in U.S. shale oil output, although with OPEC determined to restrict its own production to prevent a global surplus of unused fuel, the price held just shy of 2019 highs. The U.S. Energy Information Administration said in a monthly report on Tuesday shale production alone will hit a record 8.4 million barrels per day next month, suggesting little chance of a near-term slowdown in overall U.S. crude output. The oil price has risen by more than 20 percent so far this year, supported largely by an agreed 1.2 million bpd production cut by the Organization of the Petroleum Exporting Countries and several other major exporters such as Russia. Click read more below for additional detail.
Arkansas Business Publishing Group president Mitch Bettis has reached a deal to acquire the company from founder and CEO Olivia Myers Farrell, the pair announced Monday. Effective February 28, the…
Consumers and public and CoC Video 2private organizations are increasingly requesting forest products from sustainably managed forests. But how can they be sure about the origin of the products they buy? The answer is PEFC Chain of Custody certification. PEFC forest certification demonstrates that forests are sustainably managed. But there are many steps of processing before a product reaches consumers. Click read more below for additional detail.
All members of the Rottneros management team bought a total of 243,940 shares in the company, corresponding to approximately 2.6 MSEK, after publishing of the 2018 Year-End Report. Management’s total shareholding including the recent purchases amounts to 284,940 shares.
The forest industry is currently mobilizing for a unique project to promote a more low-impact approach to forestry. Komatsu Forest, SCA and the entire forest industry will collaborate to investigate the possibility of developing a low-impact machine, the benefits of which would include less driving damage in the forest. The project involves developing a new generation of forestry machines for more sustainable and low-impact forestry. The idea is to develop a machine that, with low ground pressure, causes less driving damage in the forest and improved driver comfort, at the same time as productivity can increase and there is a more even flow of timber for industry over the year. The participants in the project are: SCA, Holmen, Sveaskog, Norra Skogsägarna, Södra, Mellanskog, Norrskog, Bergvik, Stora Enso, Billerud Korsnäs and Komatsu Forest. Click read more below for additional detail.
“Midland’s 2019 Wide Format Inkjet Product Catalog contains 7 new vendors and 26 new products. With over 950 total SKU’s, it’s an incredible resource for any printer involved with wide format inkjet printing in today’s market,” comments David Field, Senior Business Manager - Inkjet Technologies for Midland Paper. The new product catalog includes print media compatible with aqueous, latex, eco/solvent and UV inkjet systems including: Rigid Substrates; Pressure Sensitive Film; Paper Based Inkjet Media; Synthetic Based Inkjet Media (vinyl banner, polypropylene, polyester); Fabric, Canvas & Magnetic Media; Laminating & Mounting Films; Banner Stands, Inks & Accessories.
UPM collaborates with leading research organizations and small to medium sized companies in order to create a new ecosystem and novel wood-based innovations for the biomedical sector. The sector faces a growing need for products sourced from natural materials that are free from animal-derived components as they offer many advantages over currently used materials. UPM has been active in biomedicals for many years and has already commercialized GrowDex® nanocellulose product for cell culture. GrowDex provides an environment close to that found in the human body, giving researchers a tool to replicate and study the effect of diseases on cells. Plant-based biocompatible materials can accelerate market breakthrough for several new applications and technologies. In addition to cell culture, wood-based materials can be used e.g. in clinical applications and diagnostics. Click read more below for additional detail.
Crude-oil futures on Tuesday saw mixed trade, with international benchmark Brent crude edging lower, while the U.S. benchmark rose amid reports of falling Saudi Arabian exports. Trade talks between the U.S. and China were also being watched for further signs that could boost crude prices. Crude-oil volumes shipped from major producer Saudi Arabia fell in the first half of February to 6.2 million barrels a day, down 1.3 million barrels a day on the previous month, according to data published by ship tracking firm Kpler on Monday. Click read more below for additional detail.