Third quarter net sales were $935 million, down $14 million, or 1.5%, from the third quarter of 2016. Pro forma for acquisitions completed in the last four quarters, changes in foreign exchange rates, and pass-through paper sales, organic net sales decreased 6.6% from the third quarter of 2016. The decrease in organic net sales was due to lower volume and price declines in both the Print and Office Products segments. Third quarter 2017 net loss was $3 million, or $0.07 per diluted share, compared to net income of $38 million, or $1.17 per diluted share, in the third quarter of 2016. The third quarter of 2017 included $19 million of interest expense primarily related to debt issued in connection with the October 1, 2016 separation from RR Donnelley & Sons Company, while no interest expense was allocated to LSC Communications in the third quarter of 2016. The effective tax rate for the third quarter of 2017 reflected the impact of non-deductible goodwill impairment charges. Click Read More below for additional information.
Digital Lizard, a Creel company, has signed an agreement to be the premier, global beta site for the HP Indigo 50000 — the most productive and versatile digital offering in the HP fleet. Through the arrangement, Digital Lizard will partner with HP to refine the press’s performance and efficiencies, while pushing the envelope in innovative uses and new product development.
The HP Indigo 50000 is a seven-color, 30˝, roll-fed, duplex web press that can print virtually any size/application on any substrate with extremely high ink permanence and color vibrancy. This makes it ideal for oversized photobooks, personalized magazines, lay-flat books, catalogs, direct mail, calendars, and more. Its advanced technology delivers color integrity and smoothness that replicate offset quality — enabling customers to use Indigo printing as a true alternative to offset or a 100% match to pieces produced conventionally. As premier beta site, Digital Lizard will be the first to offer this groundbreaking technology.
“Digital Lizard has been an HP proponent for years, demonstrating a mastery with Indigo production and maximizing our presses’ capabilities to create highly effective print and marketing solutions,” comments Avi Basu, director, marketing and business development, Graphics Solutions Business, Americas, HP. “Moreover, they are proven innovators, and we look forward to collaborating with their team to integrate the new generation of HP Indigo digital press technologies.”
Bill Wieners, president of Digital Lizard, remarks, “We are honored to be given HP’s trust as they ready this game-changing press for the mass market.” He continues, “We are also excited to be the first to bring true offset quality to the digital space. Our craftspeople are already working on a number of ideas to push the envelope and ensure the HP 50000 delivers to its fullest potential.”
Set for January 2017 installation, the HP 50000 will serve as the flagship production workhorse at Digital Lizard’s Las Vegas manufacturing facilities. The addition will increase the company’s total annual production capacity by 40%.