Business Management - Finance/Financial

Verso Paper today reported financial results for the second quarter and six months ended June 30, 2014. Net sales of $320.9 million in the second quarter of 2014 compared to $330.4 million in the second quarter of 2013.

Because Veritiv's registration as a public reporting company became effective in the second quarter and the spin-off and merger transactions were not consummated until the third quarter, Veritiv will report full second quarter results for the legacy xpedx business of International Paper in its Quarterly Report on Form 10-Q for the period ended June 30, 2014, expected to be filed on August 14, 2014. Beginning with the quarterly period ending September 30, 2014, Veritiv will report consolidated financial results for the combined company.

For the June 30, 2014, quarter, the U.S. Postal Service reported a net loss of $2.0 billion, compared to a net loss of $740 million for the same period last year. "Due to continued losses and low levels of liquidity, we’ve been extremely conservative with our capital, spending only what is deemed essential to maintain existing infrastructure," noted CFO and Executive Vice President Joseph Corbett.

Cenveo Inc. has announced results for the three and six months ended June 28, 2014. The company reported net sales of $479.4 million, up 17.9 percent from the second quarter of 2013. "We are very encouraged by our second quarter performance highlighted by delivering consolidated organic revenue growth of over 2 percent," said Robert G. Burton Sr., chairman and CEO.

InnerWorkings Inc. has reported its financial results for the three months ended June 30, 2014, with a record revenue of $260.3 million, an increase of 23 percent compared to $210.9 million in the second quarter of 2013.

Neenah Paper's sales growth in 2014 resulted primarily from higher volumes, as well as favorable currency translation and increased net selling prices. Net sales of $230.4 million in the second quarter of 2014 grew 9 percent compared with $212.3 million in the second quarter of 2013 as Technical Products revenues increased 10 percent and Fine Paper revenues grew 7 percent.

Quad/Graphics has reported results for its second quarter ending June 30, 2014. The reported results include Brown Printing from the day of acquisition on May 30, 2014. Prior year financial results do not include the acquisition of Brown Printing. "Our second quarter results were consistent with our expectations and we remain on track to achieve our 2014 objectives," said Joel Quadracci, Quad/Graphics chairman, president and CEO.

Courier Corp. has released its financial results for the quarter ended June 28, 2014, the third quarter of its 2014 fiscal year. Revenues were $67.7 million, up 5 percent from last year’s third-quarter revenues of $64.1 million.

For the second quarter of 2014, NewPage's net loss was $30 million compared to a net loss of $13 million in the second quarter of 2013. The increase in net loss was the result of higher input costs of $20 million driven by the continuing effects of extreme weather-related factors through April 2014 and lower paper prices, partially offset by lower non-cash stock compensation expense, lower pension expense, cost reduction initiatives and other general and administrative expenses.

Financial results for the three-month period ended June 30, 2014, the fourth quarter of the 2014 fiscal year, have been released by Vistaprint. The fourth-quarter results revealed revenue growth of 21 percent year over year to $338.2 million.