CBS News featured Onward Reserve, a valued Lett Direct client and The Dingley Press, a trusted partner in a segment that aired nationally this week. This informative story confirms the importance of catalogs as a major driver of traffic to the web. It’s very well done and we want to share this segment with you in case you missed it.
https://www.cbsnews.com/videos/printing-catalogs-is-a-booming-business-in-this-state/?utm_source=Lett+Direct+Subscribers+-+Updated&utm_campaign=97d482fee6-2017_09_20&utm_medium=email&utm_term=0_3f5db68a9d-97d482fee6-465671601&mc_cid=97d482fee6&mc_eid=6c15c235f5
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Financial Summary *$1.78 billion of revenue in Q4, down 7.9 percent year-over-year, or down 7.4 percent in constant currency; $7.04 billion of FY revenue, up 0.2 percent year-over-year, or down 1.4 percent in constant currency. *Q4 and FY GAAP (loss)/earnings per share (EPS) of $(3.97) and $(2.56), down $4.33 and $3.40 year-over-year, respectively. Both Q4 and FY GAAP EPS include an after-tax non-cash goodwill impairment charge of $750 million or $4.38 and $4.08 per share, respectively. *$198 million of operating cash flow in Q4, down $37 million year-over-year; $629 million of FY operating cash flow, up $81 million year-over-year. *$182 million of free cash flow in Q4, down $39 million year-over-year; $561 million of FY free cash flow, up $87 million year-over-year. *Delivered $375 million of targeted 2021 gross cost savings through Project Own It, or $1.8 billion since inception. *Returned more than $1 billion to shareholders, close to double FY 2021 free cash flow.
Ennis, Inc. announced its acquisition of the operating assets of UMC Print in Overland Park, Kansas. UMC Print has been a leading trade-only printer and provider of commercial printing services since 1936. As one of the largest sheet-fed commercial printers in the area, UMC Print’s capabilities serve a wide range of distributors and trade sales organizations throughout the Midwest and beyond. “The addition of UMC Print continues our commitment to adding strategic locations and capabilities to drive growth with our distributor partners,” said Keith Walters, Chairman, President & CEO of Ennis, Inc.
PRINTING United Alliance, the most comprehensive member-based printing and graphic arts association in North America, applauds the formation of the inaugural Congressional Printing Caucus in the U.S. House of Representatives. This first-of-its-kind bipartisan Caucus will focus on advancing a public policy agenda that benefits and protects America’s printing industry and its rich, diverse, and varied communities. In the 118th Congress, Representatives Claudia Tenney (R-NY-24), Mark Pocan (D-WI-2), Lori Chavez-DeRemer (R-OR-5), and Jared Golden (D-ME-2) will serve as co-chairs representing the U.S. printing industry. ACG Advocacy, the Washington, D.C. lobbying firm representing the Alliance, is in the process of identifying additional Members of Congress that share an interest in the public policy challenges and opportunities in the printing industry.