Verso Paper Corp. Reports Third Quarter 2012 Results: Verso Paper Corp. (NYSE: VRS) today reported financial results for the third quarter and nine months ended September 30, 2012. Results for the quarters ended September 30, 2012 and 2011 include:
-Adjusted EBITDA before pro forma effects of profitability program of $50.2 million in the third quarter of 2012, compared to $23.5 million in the second quarter of 2012 and $64.2 million in the third quarter of 2011. (Note: Adjusted EBITDA is a non-GAAP financial measure and is defined and reconciled to net income later in this release).
-Net loss before items of $12.0 million, or $0.23 per diluted share, in the third quarter of 2012 compared to net loss before items of $43.1 million, or $0.81 per diluted share, in the second quarter of 2012 and net income before items of $0.8 million, or $0.01 per diluted share, in the third quarter of 2011.
-The closure of the Sartell mill resulted in an aggregate pre-tax charge to earnings of approximately $97.2 million in the third quarter of 2012. This includes approximately $16.3 million for severance and benefit costs; $75.8 million in non-cash charges for fixed asset and other impairment charges; and $5.1 million related to other costs.
Tuesday, November 13, 2012
Nova Scotia/Resolute Negotiating Bowater Mersey
Nova Scotia is negotiating with Resolute Forest Products to aquire assets of Bowater Mersey:
The Chronicle Herald is reporting today that the province of Nova Scotia is negotiating exclusively with Resolute Forest Products to acquire the assets of Bowater Mersey Paper Co. Ltd.
The Chronicle Herald is reporting today that the province of Nova Scotia is negotiating exclusively with Resolute Forest Products to acquire the assets of Bowater Mersey Paper Co. Ltd.
RISI Announces 2012 PPI Awards
RISI announces winners for 2012 PPI Awards including DS Smith, Mondi, Tamil Nadu, Finch Paper: RISI, the leading information provider for the global forest products industry, announced the winners of this year's PPI Awards during a gala dinner tonight, November 12, at Le Plaza Hotel in Brussels.
2012 WWF Environmental Paper Awards
The 2012 WWF Environmental Paper Awards go to 7 paper producers and 46 paper brands: WWF, the world´s largest conservation organisation, is today announcing the winners of the 2012 WWF Environmental Paper Awards in the categories “Transparency” and “Best Environmental Performance Paper Brands”. WWF praises the transparency of 7 paper producers and the “excellent” environmental performance of 46 paper brands published on WWF´s Check Your Paper database of eco-rated papers.
Scholastic Donates 1MM Books to Sandy Victims
With more than 20 schools in New York City unable to reopen and dozens
of schools in New Jersey still closed in the wake of Hurricane Sandy,
Scholastic, the global children's publishing, education and media company,
today announced that it will donate one million books to schools and libraries
in the hardest-hit areas of the tri-state region. To help in the recovery
efforts with support for the educators, families and students who have suffered
losses, Scholastic is accepting book grant requests at www.scholastic.com/bookgrants.
Former Williams-Sonoma Exec Joins Best Buy
j2 Global Buys Ziff Davis Media
Eying Ad Network Capabilities, j2 Global Buys Ziff Davis Media: Cloud services provider j2 Global has acquired long-standing tech media publisher Ziff Davis Media (ZDM), the companies announced Monday. The purchase is for $167 million and is expected to be immediately accretive, according to the release. The transaction will be funded from j2's cash on hand.
Holiday Shoppers to Use Varied Sources
Holiday Shoppers to Rely On Blend of Sources This Season: Consumers are expected to rely on a blend of offline and digital information sources as they look for holiday gift ideas and sales this year. Two-thirds (67%) of consumers surveyed expect to find out about sales, research gift ideas and read reviews this holiday season through online, social media and mobile, while 60% say they will rely on radio, television and newspapers for this information. Nearly as many (57%) expect to learn about products this holiday season via recommendations from friends and family while 34% point to catalogs as their source of planning this holiday season.
How Dead Is the Book Business?
OPA Study: Marketers Prefer Publishers
The OPA collaborated with industry research firm Advertiser Perceptions to conduct the study, which surveyed 251 marketers and advertising agencies online Aug. 7-15. Participants were required to be involved in video and display advertisement decision-making, have a $1 million minimum digital ad spend over the past 12 months and be involved in brand-focused advertising.
I Believe in PRINT Magazines
I believe in magazines.
In fact, I will go so far as to
say, I believe in PRINT magazines.
So much so, that in the
past two weeks I have launched a new one, and bought another.
It’s quite simple, really –
both were well considered, well researched, business decisions.
In launching Technology
Decisions into the print wasteland of IT media, we are definitely swimming
upstream. However, recent research across our tech, engineering and
science audiences showed us that print magazines are still a preferred
delivery platform for their business-to-business information (over 50%).
PRIMIR Releases Study on Non-Print Revenue
PRIMIR Releases Study on Non-Print Revenue in the Printing Industry: PRIMIR, the Print Industries Market Information and Research Organization, commissioned State Street Consultants and John Zarwan Partners, to research non-print revenue trends for printers. After interviewing a significant sample of commercial printers, digital imaging service firms, transactional printers, direct mail and specialty printers, researchers delivered a comprehensive study that identifies current trends and projects future opportunities for printers to grow their business through key non-print services.
Quebecor Reports Q3, Sun Media Cuts 500 jobs
Quebecor profit falls 29%, Sun Media to cut 500 jobs:
Quebecor Inc. says it expects annual savings of $45 million from taking a new operational and management approach at its newspaper publishing arm, which includes the Sun Media group of newspapers.
Quebecor Inc. says it expects annual savings of $45 million from taking a new operational and management approach at its newspaper publishing arm, which includes the Sun Media group of newspapers.
Kodak Said to Arrange Financing
Kodak Said to Arrange Financing for Bankruptcy Emergence: Eastman Kodak Co., the bankrupt photography pioneer, arranged $793 million in financing from some creditors to exit bankruptcy as a commercial-printing company, said a person familiar with the negotiations. Funding is conditional on selling its its patent portfolio for at least $500 million, progress in the sale of two business units and the resolution of the U.K. pension obligations.
PIA Elects 2013 Officers, Board
Printing Industries of America Elects Its 2013 Officers and Board of Directors: PITTSBURGH—Nov. 12, 2012—Printing Industries of America is pleased to announce the election of its 2013 officers and board of directors. These executives are key industry leaders, and their involvement in the national printing association and their local affiliate organizations is invaluable.
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