For the quarter ended March 31, 2018, the Company reported record first quarter revenue of $239.9 million, up 5% compared to first quarter 2017 revenue of $228.7 million. GAAP net loss was $3.6 million compared to GAAP net income of $4.8 million for the same period in 2017 or $(0.08) per diluted share compared to $0.10 per diluted share for the same period in 2017. Non-GAAP net income was $17.2 million, down 33% compared to non-GAAP net income of $25.8 million for the same period in 2017 or $0.38 per diluted share, down 31% compared to $0.55 per diluted share for the same period in 2017. Cash flow from operating activities was $6.3 million compared to $14.9 million during the same period in 2017. Click Read More below for additional information.
PRINTING United Alliance and Idealliance today announced that the two organizations have officially merged. Under the guidance and direction of the board of directors at each organization, which are comprised of representative printer and supplier members across the industry; and with the overwhelming support and approval from Idealliance members, PRINTING United Alliance and Idealliance can together bring even more resources and service offerings to its collective membership and the printing industry at large. The merger is a unique opportunity during a challenging time to further collaborate and utilize the strengths of each organization to continue serving the printing industry across market segments.
“Idealliance has developed the expertise to build and rollout its traditional color management programs, new standards in training and education, and is a respected leader in this space,” said Ford Bowers, CEO, PRINTING United Alliance. “Melding our considerable and complimentary portfolios will not only benefit each organization, but the industry as a whole, from brands and print buyers, to print service providers, suppliers, and manufacturers. We continue to work with partners like Idealliance who have a similar goal to invest in the future of our industry.”
“PRINTING United Alliance and Idealliance retain a synonymous mission in providing the printing industry with top notch programming, services, and certifications,” said Jordan Gorski, Executive Director, Idealliance. “In looking for a partner where we could expand our renowned offerings, PRINTING United Alliance was a natural fit where we could collaborate to work even more closely with a community which has embraced convergence, allowing Idealliance to continue to lead in standardization, training, and certification to create more targeted content by market segment as well as learning channels through in-person, self-directed online, and hybrid offerings.”
Idealliance will continue to retain its own membership base and defined programs and training in areas such as G7 certification, while having the ability to reach new market segments to widespread printing professionals through PRINTING United Alliance, NAPCO Media, and a forum of more than 30 PRINTING United Alliance events — including PRINTING United Expo, the largest printing event in the Americas. Idealliance can now bring its color and workflow standards, training, and certification programs to all printing communities.
Each organization will retain its unique events and services. Idealliance will continue to engage with, and serve, all partners in the printing and packaging supply chain, from brands and print buyers, to print services providers, OEMs, and technology partners. Idealliance international affiliate partners will continue to create standards and guidelines to serve the global market.
PRINTING United Alliance will form an Idealliance Advisory Council comprised of the current Idealliance board officers and directors to assist in continuing its global outlook for all partners in printing and packaging on industry standards and guidelines, and training and certification for professionals.