In a prepared statement from Landa Digital Printing, the company has initiated a “restructuring process to align the company’s structure with the current business environment and support its growth. The company’s rise in the number of printing presses installed at customer sites. It cites that many of those are repeat orders, including Marketing Alliance Group and Advantage ColorGraphics, in recent months.
Landa to Require Greater Investment, Announces Restructure
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Canon U.S.A. Inc., a leader in digital imaging solutions, is pleased to announce the launch of the new Canon ProStream 1800 continuous feed inkjet printer, the newest model in Canon’s ProStream 1000 series. With increased speeds of up to 436 ft/min, the new printer boasts one of the highest resolutions and print quality of any digital printing press at that speed, making it the ideal solution for commercial printers who want to achieve ultimate performance. Supporting customers’ passion for print, the new ProStream 1800 has been designed to push the boundaries of commercial print to meet changing customer demands. Combining new inkjet innovations with proven offset printing techniques, the press strikes a unique balance between high productivity, superior print quality, flexibility, and media versatility.
Third Quarter 2020 Highlights: * Total revenue increased by 10.4% to $49.9 million, from $45.2 million in the third quarter of 2019. * EBITDA1 was up 49.3% to $8.1 million, an increase of $2.7 million, from $5.4 million in the third quarter of 2019. EBITDA includes a $0.9 million of assistance from the Canadian Emergency Wage Subsidy (“CEWS”) program. * Net Earnings increased to $2.7 million (or $0.10 per share), from $1.2 million (or $0.04 per share) in the third quarter of 2019. * Packaging and Specialty Products segment revenue increased by 18.9% to $15.8 million, up from $13.3 million in the third quarter of 2019. * Envelope segment revenue increased by 6.9% to $34.1 million, up from $31.9 million in the third quarter of 2019. * Net cash flows from operating activities increased to $7.2 million, up from $3.7 million in the third quarter of 2019.
Summary Results: Net earnings improved during the third quarter of 2017 to $20 million, a $9 million year-over-year increase, despite a 4.8% decrease in net sales to $1.0 billion. Organic sales decreased 3.7% due to ongoing industry volume and pricing pressures after excluding pass-through paper sales (-1.2% impact) and foreign exchange (+0.1% impact), and is consistent with the Company’s previous guidance. Diluted earnings per share for the third quarter of 2017 improved to $0.38 compared to $0.22 in 2016 primarily due to lower depreciation and amortization, and cost reductions and productivity improvement activities. Third quarter 2017 Non-GAAP Adjusted EBITDA decreased to $116 million compared to $122 million in 2016; however, due to ongoing productivity improvements and sustainable cost reductions, the Company was able to keep Adjusted EBITDA margin flat year-over-year at 11.5%. Net earnings improved for the nine months ended September 30, 2017, to $52 million, a $45 million increase from 2016, despite a 5.2% decrease in net sales to $3.0 billion. Organic sales decreased 3.7% due to ongoing industry volume and pricing pressures after excluding pass-through paper sales (-1.4% impact) and foreign exchange (-0.1% impact). Diluted earnings per share improved to $1.01 during the nine months ended September 30, 2017, compared to $0.15 in 2016. Year-to-date Non-GAAP Adjusted EBITDA was $334 million, a 1.8% decrease from 2016, and Adjusted EBITDA margin improved to 11.2% as compared to 10.9% in 2016. Click Read More below for additional information.