WASHINGTON, DC—The U.S. Postal Service registered a net loss of $1.1 billion for the third quarter, its financials reflecting reduced mail volume and increasing transportation costs. Operating revenue dropped $437 million to $17.9 billion for the quarter compared to the same period last year. Volume fell to 48.5 billion pieces, a 5.5 percent decline.
HEIDELBERG, GERMANY—08/05/2008—In the first quarter of financial year 2008/2009, Heidelberger Druckmaschinen AG (Heidelberg) recorded a significant improvement in incoming orders over the previous year thanks to the industry trade show drupa. In the period under review, the Heidelberg Group increased its incoming orders by around 23 percent over the same quarter the previous year to 1.151 billion Euro (previous year: 934 million Euro). As already announced on July 10, 2008, sales and earnings were significantly down on the equivalent figures for the previous year due to difficult market conditions and customers’ reluctance to invest in the run-up to drupa. Sales by the Heidelberg Group
HAMILTON, BERMUDA—Online printer VistaPrint Ltd released its financial results for the third quarter of its 2008 fiscal year. The company posted quarterly revenue of $105.8 million, an increase of 53 percent when compared to sales of $69.3 million in the same quarter of fiscal year 2007.
The 2012 Printing Impressions 400 list of the largest printing companies in the United States and Canada as ranked by annual sales.
HEIDELBERG, GERMANY—06/13/2007—Heidelberger Druckmaschinen AG (Heidelberg) clearly increased both sales and earnings in financial year 2006/2007 (April 1, 2006 to March 31, 2007). “For the fourth year in succession, we have been able to draw on the upswing in the global economy and the resultant upward trend in our industry,” stated Bernhard Schreier, CEO of Heidelberger Druckmaschinen AG. “For the current financial year, we are expecting moderate growth in the volume of business,” he added. Sales by the Heidelberg Group during the period under review climbed six percent to 3.803 billion Euro (previous year: 3.586 billion Euro). The fourth quarter alone returned sales of 1.214 billion
MEMPHIS, TN—International Paper (IP) has strengthened its balance sheet by more than $7 billion since embarking on a transformation plan in mid-2005 aimed at becoming a more focused and profitable company. IP has reduced its debt by approximately $6.2 billion from roughly $13.4 billion. A majority of the debt reduction was funded through divestiture proceeds…
HAMILTON, OH—December 20, 2006—SMART Papers LLC today reported that the U.S. Bankruptcy Court for the District of Delaware has approved and confirmed its business reorganization plan, paving the way for emergence from Chapter 11 upon the company’s sale to an affiliate of Plainfield Asset Management LLC, a Greenwich, CT-based investment advisor. The SMART Papers Plan of Reorganization was approved by the court yesterday in Wilmington, Del. The plan was accepted by an overwhelming majority of voting creditors. It is also supported by SMART Papers’ secured lender, its unsecured creditors committee, Memphis-based International Paper Co. and many other important creditor groups. “We’re very pleased with
WESTMONT, IL--On the heels of its sale to a joint investment company, MAN Roland Druckmaschinen saw a Q1 US$37.9 million increase (to $17.6 million) in operating results over the same period in 2005. On the sheetfed side, MAN was able to break even with a $32.8 million gain. The web business increased to $17.6 million,…
STAMFORD, CT—In an effort to turn around its lackluster performance, International Paper (IP) revealed a transformation plan that is designed to improve returns, strengthen the balance sheet and return cash to shareholders. The plan includes narrowing the company's portfolio to two key platform businesses—uncoated papers and industrial/consumer packaging—improving shareholder value via mill realignments in those businesses, and exploring strategic options that could entail selling or spinning off other businesses. Uncoated paper and packaging accounts for more than 70 percent of IP's sales. Among the IP assets being re-evaluated: IP's 50 percent stake in Carter Holt Harvey, the coated and supercalendered papers business (including the coated groundwood
BY MARK SMITH Moving in fits and starts is about the best that can be said for the paper industry's attempts to rebound from its recent market woes. Across most grades, prices have been seen to be on the rise, but also continuing to decline. In both cases, the change has been relatively minor. The quarterly financial reports from major manufacturers again tell the story. Common themes include a continuation of competitive market conditions and rising costs. "This has been a particularly difficult quarter for the company," reports Sappi CEO Jonathan Leslie. "Our third quarter results were achieved against a background of lower pulp
