Net sales increased 2.4% during the third quarter 2018 to $1 billion, reflecting the impact of the Ivie & Associates and Rise Interactive investments. Organic sales declined 3.2% after excluding acquisition sales impact of 4.6%, increased pass-through paper sales of 1.6% and a 0.6% unfavorable foreign exchange impact. The organic results reflect ongoing print industry volume and pricing pressures and are consistent with the Company's expectations. Net cash provided by operating activities was $47 million for the first nine months of 2018 compared to $180 million in 2017, and Free Cash Flow was negative $38 million. The year-over-year decline was primarily attributable to expected timing differences in 2018 versus 2017 for cash generated from working capital which includes an intentional build-up of paper inventories that will be reduced in the fourth quarter. Click read more below for additional detail.
LSC Communications (NYSE: LKSD) and The United Church of Canada announced today that they have signed a new multi-year book fulfillment and distribution agreement. As part of the relationship, LSC will provide a range of distribution services for the United Church of Canada from LSC’s Newmarket, Ontario location.
“We want to be in closer contact with our customers,” said Rebecka Hornburg, E-commerce Manager at The United Church of Canada. “We are excited to be partnering with LSC Communications for our order fulfillment and shipping in order to better serve our customers from their Newmarket facility.”
Dave McCree, President of Book Sales at LSC Communications, commented, “LSC continues to focus on providing innovative supply chain services for publishers to support them in creating great content for their customers while LSC facilitates delivering that content. We look forward to enabling The United Church of Canada to increase efficiencies across their distribution channels throughout Canada, while providing exceptional service to their customers.”