Business Management - Finance/Financial

Koenig & Bauer (KBA) has scaled down its expectations for 2013. Although previous restructuring measures are taking effect, in the first nine months KBA’s sales and order figures suffered substantially due to market and economic developments.

Even after its third bankruptcy and subsequent takeover by Quad, Vertis continues as the model of margin compression and value destruction we all wish would go away. It has a ghost of the past, a ghost of the present, and it’s sure to have a ghost of the future.

NewPage reports that its net income in the third quarter of 2013 was $21 million compared to a net loss of $47 million in the third quarter of 2012. The increase was primarily driven by improved gross margin and lower reorganization items from the prior-year quarter.

The third quarter results from InnerWorkings reveal its core enterprise business has remained strong. Revenue increased 16 percent to $232.6 million, compared to $199.8 million in the third quarter of 2012.

Cenveo Inc. has reported its financial results for the three and nine months ended September 28, 2013. The results include the effect of the acquisition of certain assets of National Envelope on September 16, 2013 while the custom envelope division is reported as a discontinued operation.

Consolidated Graphics (CGX) announced its financial results for its second quarter ended September 30, 2013. Revenue for the September 2013 quarter was $256.1 million, compared to $263.6 million for the same quarter last year. The 2.9 percent decline in revenue was primarily caused by an expected decline in election related business.

R.R. Donnelley & Sons net sales of $2.6 billion grew 4.2 percent from the third quarter of 2012, with an organic revenue growth of 2.2 percent in the quarter. "As we communicated in our October 24th announcement, we are very pleased with our third-quarter performance," said Thomas J. Quinlan III, R.R. Donnelley's president and CEO.

Heidelberg significantly improved profitability in the second quarter of financial year 2013/2014. The operating result (EBITDA) in the second quarter was above the previous year's figure. EBITDA for the first half of the year also improved considerably and was positive overall.

Results for Quad/Graphics' third quarter ending September 30, 2013, have been reported. The results include Vertis Holdings, from the day of acquisition on January 16, 2013. Net Sales for the third quarter 2013 increased to $1.2 billion versus $1.0 billion for the same period in 2012 primarily due to the Vertis acquisition.

Memphis, TN-based International Paper (IP) reported third quarter net earnings of $382 million, an increase of $145 million, or 38 percent, from the third quarter 2012 net earnings of $259 million. The earnings posted Thursday, October 24, were also a 32 percent increase from the second quarter of 2013.

As expected, International Paper had higher wood costs because of the wettest summer in the Southeastern United States in 100 years. The impact of the soaking on wood costs was even higher for the quarter than IP anticipated and created more of a headwind, although the rainfall has since moderated.