*Revenue was $54.1 million lower than last year. COVID-19 continued to negatively impact our results, primarily across the Promotional Solutions, Cloud Solutions and Checks segments. *The Payments segment delivered strong revenue growth of 15.6% over the same period last year, benefiting from Treasury Management revenue growth of 20.9% in the third quarter driven primarily by December 2019 sales wins. *Net income of $29.4 million was impacted by COVID-19, compared to a net loss of $318.5 million in the third quarter 2019. 2019 results included pre-tax, non-cash asset impairment charges of $391.0 million. The impairment charges related to goodwill, as well as amortizable intangible assets. *Cash flow from operations for the nine months ending September 30, 2020 was $166.8 million and capital expenditures were $42.7 million. Free cash flow, defined as cash provided by operating activities less capital expenditures, was $124.1 million, a decrease of $34.2 million as compared to 2019. In addition to COVID-19, free cash flow was impacted by previously disclosed expenditures to support the Company’s business transformation and the ongoing secular decline in checks. These impacts were partially offset by lower income taxes and a legal settlement in the prior year. *At the end of the third quarter, the Company had $1.04 billion of total debt outstanding under its revolving credit facility, compared to $883.5 million at the beginning of 2020. Liquidity was $413.0 million, with cash and cash equivalents totaling $310.4 million at the end of the quarter.

“One of our clients recently referred to us as the ‘Swiss Army Knife’ of direct marketing providers,” John A. Wallace Jr., president and CEO of SG360°, says. If the client had declared the company to be direct marketing’s equivalent of the famous Wenger 16999 Swiss Army Knife Giant — a 2-lb., 12˝-long pocket toolbox containing 87 implements and 141 separate functions — he probably wouldn’t have been embarrassed. The comparison may be exaggerated, but not by much. Wallace points out that the “360°” in the company’s name reflects its determination to give customers everything they need to conduct successful direct marketing campaigns under one roof. In this, he contends, SG360° is unique, because its only business is direct marketing through hyper-targeted mailings, in volumes as massive or as minuscule as the customer desires.

R.R. Donnelley & Sons Company announced that it has closed on the previously announced sale of its International Mail and Parcel Logistics business to ePost Global LLC. Dan Knotts, RRD’s President and Chief Executive Officer, stated, “This sale completes the final step of our previously announced plan to exit our Logistics platform.” Knotts continued, “I want to thank the International Logistics employees for their support of RRD and wish them well as they join ePost Global LLC.”

Results for the three months ended September 30, 2020, included: *Net Sales — Net sales were $679 million in 2020, down 28% from 2019. Sales declined 26% during the quarter, excluding the impact of the January 2020 sale of the Omaha packaging plant, primarily due to the economic impact from the COVID-19 pandemic, and ongoing print industry volume and pricing pressures. *Net Earnings (Loss) From Continuing Operations — Net earnings from continuing operations increased $50 million from the third quarter of 2019, from a net loss of $47 million in 2019 ($0.94 diluted loss per share from continuing operations) to net earnings of $3 million in 2020 ($0.05 diluted earnings per share from continuing operations). Results for the nine months ended September 30, 2020, included: *Net Sales — Net sales were $2.1 billion in 2020, down 27% in 2019. Sales declined 25% during the nine months ended September 30, 2020, after excluding the impact of the January 2020 sale of the Omaha packaging plant, primarily due to the economic impact from the COVID-19 pandemic, and ongoing print industry volume and pricing pressures. *Net Loss From Continuing Operations — Net loss from continuing operations improved $42 million from the first nine months of 2019, from a net loss of $63 million in 2019 ($1.26 diluted loss per share from continuing operations) to a net loss of $21 million in 2020 ($0.41 diluted loss per share from continuing operations).

Quad/Graphics, Inc. announced that it has sold its two remaining Book manufacturing facilities in Fairfield, Penn., and Martinsburg, W.Va., to Berryville Graphics, a division of Bertelsmann Printing Group USA, a leader in hard cover, mass market, trade and digest books, components and specialty finishing. The transaction closed on October 31, 2020. Quad will use proceeds from the sale to pay down debt. With this transaction, Quad has completed the full divestiture of its Book manufacturing platform – part of a previously announced strategic decision to optimize its product portfolio. In July, the company sold its only other book manufacturing facility in Versailles, Ky., to CJK Group, Inc.

Quad/Graphics, Inc. announced the launch of its Quad Direct Marketing Exchange™ (QDMX) – a platform that delivers entirely personalized direct marketing campaigns at a fraction of the cost and at greater speed to market. An industry first, QDMX helps marketers mitigate the impact of rising postage costs and navigate ongoing economic uncertainty through a suite of solutions that integrates sophisticated data application, innovative direct mail production and streamlined mailing. “For years there has been a feeling among marketers that there has to be a more efficient and effective way to reach the consumer through the mailbox,” said Scott Harvey, Quad Senior Vice President for Marketing Solutions. “Through our QDMX platform, we provide marketers with an opportunity to re-imagine their direct marketing strategy – leveraging the scale, technology investments and expansive client base of Quad – to deliver even stronger ROI from the direct mail channel.”

During these challenging times, it is imperative for commercial print companies to offer flexibility, media versatility, and superior print quality to their customers. Since the implementation of inkjet, Taylor Corporation has been able to expand its offerings by migrating higher-volume jobs from offset to digital inkjet, mainstream commercial and digital work at a lower cost of ownership, as well as embed a more targeted approach to market segments with product sets. Since the addition of the Canon ProStream to Taylor Corporation’s print workflow, the press’ capabilities have enabled the organization to boost production levels, reduce turnaround times, and increase profit margins across a wide range of applications, including premium and high-volume direct mail, books, catalogs, and magazines.

R.R. Donnelley & Sons Company announced that it has closed on the previously announced sale of its DLS Worldwide Logistics business to TFI International Inc. Dan Knotts, RRD’s President and Chief Executive Officer, stated, “The sale of DLS Worldwide is an important step forward to optimize our business portfolio and improve balance sheet flexibility. The transaction serves to further enhance our strategic focus as a leading global provider of marketing and business communications.” Knotts continued, “I want to thank the DLS Worldwide employees for their support of RRD and wish them well as they join TFI International.”

Everything that has happened to printing firms as a result of the pandemic is unprecedented. This means everything they have done in response to it has obliged them to improvise. To rethink. To come up with new ways of protecting their employees. To pivot to completely different methods of interacting with customers. In short, to innovate. As we've done the past several years in Printing Impressions, we profiled six companies that remain alive and well in the printing industry. This year, we’re presenting these portraits of Innovators in tribute, not just to the companies themselves, but to every printing business that has survived the trials of 2020 by being innovative. Here is a profile of one of our Best-in-Class Innovators. Does innovation have a distinctive aroma? It does at H&H Graphics. In fact, innovation there smells remarkably like … tacos. That was the olfactory enhancement the Vernon Hills, Ill.-based specialty screen printing business gave to a holiday gift wrap for Taco Bell by infusing the paper with the scents of each of the snack’s principal ingredients. When the wrap was offered on Amazon, reports Michelle Leissner, president and CEO of H&H Graphics, “it sold out in a matter of minutes.”

Our reported revenue and organic constant-currency revenue declined 7% and 10%, respectively, in Q1. The pandemic continues to negatively impact our revenue results, but the year-over-year decline was less severe in Q1 compared to Q4 across all segments Q1 FY2021 GAAP operating income increased $10.6 million year over year to $36.0 million. The negative revenue impact of the pandemic was offset by variable cost controls, advertising efficiency and fixed cost savings. We also had a year-over-year decrease in restructuring charges of $2.3 million. Our GAAP operating income benefited from about $4.0 million of COVID-19-related government incentives, primarily to offset wages for manufacturing and customer service team members in countries where demand decreased but roles were maintained.

*GAAP net sales decreased 15.9%; non-GAAP organic net sales decreased 12.1% *GAAP income from operations was down $55.1 million versus the prior year primarily due to a $56.5 million increase in restructuring and other charges; current quarter included a charge for MEPP withdrawal obligations related to the LSC Communications (“LSC”) bankruptcy *GAAP loss per share from continuing operations of $0.13 included third quarter charges of $0.52 per share for restructuring and other *Operating cash flow, including discontinued operations, increased $40.1 million from prior year period, year-to-date improvement now at $113.0 million *Entered into definitive agreement to sell its Logistics DLS Worldwide business for $225 million, expected to close by year end *Launched plan to redeem $83.3 million of principal outstanding on Senior Notes due March 15, 2021

Financial Results • $106 million of operating cash flow from continuing operations, down $242 million year-over-year and up $72 million from the second quarter • $88 million of free cash flow, down $243 million year-over-year and up $73 million from the second quarter • $1.77 billion of revenue, down 18.9 percent year-over-year or 19.7 percent in constant currency and up $302 million from the second quarter • GAAP earnings per share (EPS) from continuing operations of $0.41 per share, down $0.27 yearover-year and up $0.30 from the second quarter, and adjusted EPS of $0.48, down $0.32 yearover-year and up $0.33 from the second quarter

The PRINTING United Digital Experience officially begins on Monday, October 26, with daily programming taking place between 10 am – 2 pm ET through November 12. Registration is free to the entire schedule of daily events at digital.printingunited.com. Attendees can now register and bookmark anticipated sessions, by market segment, and gain access to new product debuts, research, education, case studies, whitepapers, and a complete resource library – all on-demand, anytime, through January 2021. Attendees need only register once to have unlimited access to all content. Over 80 countries are already represented in registration to date. Daily Guides will also be provided each day of the event to highlight the focused topic agenda and new products available from each of the Digital Experience partners. more info at: https://whattheythink.com/news/103034-printing-united-digital-experience-begins-week/?utm_source=newsletter&utm_medium=email&utm_campaign=daily

Tango Press, headquartered in Springdale, AR, opened in 2016 as an all-digital production plant for corrugated packaging and displays. The company has a reputation in the marketplace for providing high-impact packaging and displays that meet customers’ unique needs, timeframe, and price points. “The acquisition of Tango Press is a perfect complement to The BoxMaker and our web-to-print brand, Fantastapack.com. This addition gives us the opportunity to expand our reach and improve product distribution for digitally printed and finished packaging to businesses throughout the United States,” said Richard Brown, President and Co-Owner of The BoxMaker. “As an all-digital production plant, Tango Press’ business model and culture are a natural fit for The BoxMaker and we look forward to the expanded benefits that our combined facilities will deliver to clients.”

Wallaceburg Bookbinding & Manufacturing Co. Ltd. has joined Two Sides North America, the non-profit organization that promotes and encourages the responsible production, use, and sustainability of print, paper, and paper-based packaging. “Albeit on a different scale, I believe printed books still have a place in this digital world. One cannot deny the benefits of using an actual book for learning purposes. Students should have the choice to utilize the best option for their learning needs, goals, and skillset. We advocate for the option of the printed book and feel that partnering with Two Sides is a good fit for our company mission,” said Suzanne Wiersma, Director of Operations, Wallaceburg Bookbinding & Mfg. Co. Ltd.

R.R. Donnelley & Sons Company introduced Touchless World by RRD™, a comprehensive set of solutions that leverage the power of dynamic, strategically located, scannable smart tags designed for smartphone engagement. According to a recent consumer survey from the Shekel Group, 87% of consumers prefer shopping in stores with touchless or robust self-checkout options during the COVID-19 pandemic. Even before the virus went global, contactless options were expected to grow by 200% by 2025. RRD’s Touchless World solutions are designed to make consumers feel safe throughout the entire shopping experience, up to and including payments. With Touchless World by RRD, every brand touchpoint can be contactless — and capable of activating powerful data, delivering contextual, personalized messaging.

Worzalla and Bria Bella & Co., a local women’s apparel store, combined efforts to collect socks for families in need during their “Socktember” campaign. During the month of September, associates at both companies solicited donations of socks to help supply this basic need to families ahead of the winter holidays. More than 500 pairs of socks were collected and donated to the Stevens Point Area School District, where District social workers will distribute to children and families who need them. “If I came across a family who needed anything, from socks to toiletries, I would drop these items off to these families to help them stay warm and healthy,” said Peg Bach, recently retired School Social Worker for Stevens Point Area School District who participated in the campaign. “This donation of socks will keep more than 500 pairs of feet warm this winter, thank you to Worzalla and Bria Bella & Co.”

CREEL has completed the acquisition of the offset printing operations in Las Vegas known as Creel Printing from LSC Communications. The acquisition returns control of the offset business to the Creel family who founded it in the 1950s. The new CREEL will operate from the state-of-the-art, 250,000-square-foot Las Vegas facility that previously served as the company’s headquarters. The business has made significant recent investments including a new 55" web press and numerous stitching and inserting lines. The acquisition includes substantially all of the employees in the offset business, including skilled pressmen, plant supervisors, operations staff, and customer service specialists, many of whom have been with the company for over 20 years. CREEL will be managed by industry veterans, and Allan G. Creel will return as its President.

TC Transcontinental Printing, a sector of Transcontinental Inc., is proud to announce that it has invested more than $10 million over the past eight months in its book printing platform in Québec, mainly at its Transcontinental Interglobe plant in the Beauce region. These investments have enabled the plant to improve its manufacturing efficiency to better meet the demand from North American customers and the fast delivery times expected by the market, while reducing its environmental footprint. “These major investments demonstrate our confidence in the future of the North American book market and our desire to build our printing platform in growth verticals like this one,” said Jacques Grégoire, Chief Development Officer, Printing & Media at TC Transcontinental. “The timing is right for these investments with the signing of several contract extensions and new agreements with major educational publishers. They will allow us to remain competitive in the market and take on larger jobs to continually meet the growing demand from our customers.”