Second Quarter 2019 Highlights • Financial Services (FS) revenue increased 12.1% compared to the prior year driven by the results of the REMITCO acquisition in August 2018, offsetting the continuing decline in checks. • Small Business Services (SBS) revenue declined 2.9%, driven by the continuing decline in checks and forms partially offset by price increases and two small acquisitions in 2018. • Direct Checks revenue decreased 5.8% driven by the continuing decline in checks. • Marketing services and other solutions (MOS) expanded to 43.6%, checks accounted for 39.8% and forms and accessories accounted for 16.6% of total revenue. • Net income decreased $27.6 million year-over-year, primarily driven by previously disclosed restructuring and integration activities as well as the continuing decline in checks and forms and increases in certain other costs during the quarter. • Adjusted EBITDA decreased $7.7 million year-over-year, driven primarily from decreases in net income.
GLS/NEXT Precision Marketing is now installing its first high-definition, HP PageWide high-speed inkjet press, the HP PageWide Web Press 240HD, to expand capacity to provide-industry leading personalized marketing with direct mail products.
Based in Minneapolis, MN, GLS is continuing its digital transformation with HP, after its pathbreaking adoption of the HP Indigo 29-inch format presses. The adoption of the HP PageWide T240 HD color and mono printing system provides GLS a highly automated and cost-effective solution for one-pass digital printing and variable data.
“1:1 personalized products help our customers implement targeted marketing campaigns that move intenders to buyers. The purchase of the new HP T240HD is a natural evolution for our business as we continue to expand personalized products to targeted audiences,” said Jayme Wisely, CEO of GLS/Next Precision Marketing. “We are very excited to bring this new capability to the market and expect it will once again change the landscape for our business.”
The new HP PageWide installation will be the first in Minnesota and completed in August. The press joins the HP digital fleet of three HP Indigo 12000 digital presses and two HP Indigo 7800 presses.
The HP PageWide Web Press T240 HD delivers outstanding image quality using High Definition Nozzle Architecture (HDNA) technology on native print resolution up to 2400 nozzles per inch (npi), printing at 500 feet a minute for up to 62 million letter-size color pages per month.