Verso Reports Net Loss In Q2 Up From 2011

http://investor.versopaper.com/releasedetail.cfm?ReleaseID=699478
Verso Paper generates net loss of $20.7 million in 2Q 2012, up from net loss of $24.3 million in year-earlier period."Demand in the coated industry continued to be challenged during the second quarter of 2012 which resulted in a delay in the announced price increases during the quarter. This was primarily a result of the drop-off in advertising spending and slowdowns in the commercial print area which are impacted by the sluggish GDP growth. However, our coated groundwood and coated freesheet volumes were relatively flat with last year's levels and we did a good job of managing our pricing relative to overall market demand. Adjusted EBITDA was comparable to the first quarter of this year and slightly better if you exclude the over $5.0 million impact related to scheduled maintenance outages we took during the second quarter," said David Paterson, President and Chief Executive Officer of Verso.

http://www.4-traders.com/VERSO-PAPER-CORP-3023920/news/Verso-Paper-Corp-Reports-Second-Quarter-2012-Results-14453436/
• EBITDA of $44.4 million in the second quarter of 2012 compared to $38.8 million in the second quarter of 2011, and Adjusted EBITDA before pro forma effects of profitability program of $23.5 million in the second quarter of 2012, compared to $43.6 million in the second quarter of 2011. (Note: EBITDA and Adjusted EBITDA are non-GAAP financial measures and are defined and reconciled to net income later in this release). • Net loss of $20.7 million in the second quarter of 2012, or $0.39 per diluted share, compared to a net loss of $24.3 million, or $0.46 per diluted share in the second quarter of 2011. • Operating loss of $9.5 million in the second quarter of 2012 compared to operating income of $7.0 million in the second quarter of 2011. • Net sales of $365.3 million in the second quarter of 2012 compared to $398.8 million in the second quarter of 2011.

Easement Exchange UPM and Minn Power

Easement Exchange between UPM Blandin and Minnesota Power will Restore 160 Acres of Forestland:UPM Blandin and Minnesota Power have agreed to an easement exchange that will re-establish 160 acres of forest land north of Taconite. MP is vacating an existing utility easement for No. 94 transmission line on Blandin forest land. In exchange, Blandin has granted MP a 130-acre utility easement on UPM land north of Nashwauk to establish an electric transmission line that will shore up regional reliability for Iron Range communities and the area's Essar Steel project.This project restores more than 70 acres of wetlands and 90 acres of upland forest, and reconnects approximately 15,000 acres of forest land.

Kruger Receives FSC Cert For Corner Brook Mill

Kruger receives FSC certification for Corner Brook mill:
Kruger Inc. has announced that the woodland operations at its Corner Brook mill in Newfoundland and Labrador has  achieved certification under the Forest Stewardship Council® (FSC®) National Boreal Standard. Issued by QMI-SAI Canada Limited, an FSC-accredited organization, the certificate recognizes that all woodland operations comply with FSC requirements, including management planning, road construction and maintenance, harvesting operations, fibre transportation, silviculture and support activities.

USPS Q3 Loss Of $5.2 Billion

U.S. Postal Service Ends Third Quarter with $5.2 Billion Loss: The Postal Service ended its third fiscal quarter (April 1 to June 30, 2012) with a net loss of $5.2 billion, compared to a net loss of $3.1 billion for the same period last year. Contributing significantly to the quarter’s $5.2 billion loss was $3.1 billion of expense for the legislatively mandated prefunding of retiree health benefits. These expenses, along with the continued decline of First-Class Mail volume, more than offset the quarter’s 9 percent growth in revenue from shipping services and package delivery.

Pocket Ventures Buys Space News

Pocket Ventures Buys Weekly Magazine Space News:
Imaginova, the Orion telescope and binocular maker, has sold off its media property Space News to Boulder, Colorado-based Pocket Ventures, a media investment firm set up by a team of former Inside Communications executives. The brand will be housed under a new company called Space News Inc.

Sappi Exits Chinese Joint Venture

Sappi Limited exits Chinese Joint Venture as part of Strategic Focus on High Growth Investments and Debt Reduction: Sappi Limited concluded an agreement to sell its entire 34% shareholding in the Jiangxi Chenming Paper Company Limited (JXCM), situated in Nanchang City, Jiangxi Province, China, for US$ 41,58m to the Shandong Chenming Paper Holding Company. In 2004 Sappi joined a Joint Venture (JV) created by Shandong Chenming Paper Holding Company and other partners to explore fine paper opportunities in China. A change in strategic focus by Sappi caused this investment to be reviewed and led to discussions with the Shandong Chenming Paper Holding Company, the majority shareholder and co-founding partner of the Joint Venture. The parties have been able to reach an amicable agreement which will allow Sappi to concentrate on its strategy of investing in high growth businesses, disposing of non-core assets and reducing its debt.

Neenah Paper Reports Q2 Results

Neenah Paper Reports Second Quarter 2012 Results: Neenah Paper, Inc. today reported adjusted earnings from continuing operations of ${body}.85 per diluted common share in the second quarter of 2012 compared with earnings of ${body}.49 per share in the second quarter of 2011. Net sales of $211.7 million in the second quarter of 2012 grew 16 percent compared with the second quarter of 2011. Adjusted operating income of $23.9 million increased 52 percent from $15.7 million in the prior year. Adjusted income of $13.9 million increased 78 percent compared to $7.8 million in the prior year. Adjusted earnings are reconciled to GAAP figures later in this release.

Cenveo’s Net Sales Fall, Income Show Mixed Results

Cenveo’s Net Sales Fall, but Income Show Mixed Results:Cenveo Inc. announced its results for the three and six months ended June 30, 2012. The company generated net sales of $438.9 million for the second quarter of 2012, compared to $469.9 million for the same quarter of 2011. The decrease in net sales was primarily due to lower sales in its print and envelope product lines as a result of lower direct mail volumes from our financial services customers, the closure and consolidation of a print plant and our decision to exit certain low margin businesses.

Davler Media Group Buys LI Parent Mag

Davler Media Group Buys Long Island Parent Magazine:
Davler Media Group, publisher of NYMetroParents, City Guide and Promenade, has acquired Long Island Parent and its associated website from Wordsmiths Media, LLC. Davler, which produces eight editions of NYMetro Parents for New York City, Long Island and Connecticut suburbs, plans to fold its Long Island titles into Long Island Parent and produce two monthly regional editions for Nassau and Suffolk counties. The rebranded, combined issues will start with the October issues.

Meredith's Liz Schimel Joins XO Group Board

http://www.minonline.com/news/20946.html?utm_source=twitterfeed&utm_medium=twitter
 XO Group Inc., a digital media and technology company with sites that include The Knot, The Next, The Bump and WeddingChannel, has announced two key appointments. Rob Fassino will re-join XOGroup as executive vice president, product development, following a six-year hiatus from the company he co-founded. And Meredith National Media Group executive VP/chief digital officer  (since June 2011)  Liz Schimel will join XO's board of directors. The addition of Shimel to the board hints at the possibility of Meredith Corp.'s  interest in acquiring XO’s popular wedding, pregnancy, décor, and fashion sites—which intersect with many of Meredith’s established target markets and reach a young demographic.

More On ABC Findings

http://www.nypost.com/p/news/business/newsstand_nightmare_4FjeKmvC5r23M06npVV1MI#ixzz22xY01XdO
Magazine circulation figures for the first half of 2012 confirmed the anticipated growth of digital subscriptions — up more than 70 percent — despite continued erosion in newsstand sales.Celebrity titles and some women’s magazines were particularly hard hit on the newsstand. On balance, total paid and verified circulation was basically flat, down 0.1 percent in the first six months from the same period a year ago, according to the Audit Bureau of Circulations.But single-copy sales — where publishers reap a nice profit — tumbled 9.6 percent, suggesting readers are still pinching pennies when it comes to impulse purchases.

RRD Ratings Outlook-Stable to Negative

Fitch Revises R.R. Donnelley’s Outlook from Stable to Negative:Fitch Ratings has affirmed R.R. Donnelley & Sons’ (RRD) Issuer Default Rating (IDR) at BB+ and revised the Rating Outlook to “Negative” from “Stable.” In a previous notice, Fitch had stated its concern that revenue declines in the low to mid-single digits could pressure cash flows and slow down absolute debt reduction and thereby lead to an outlook revision or rating change.

http://in.reuters.com/article/2012/08/08/idINWNA298820120808

The Outlook revision reflects the limited headroom within the ratings for the company to underperform Fitch's expectations, including Fitch's FCF generationand absolute debt reduction expectations.

Consolidated Graphics Reports Small Net Loss

Consolidated Graphics Reports Small Net Loss on Lower Sales:
Consolidated Graphics announced financial results for its first quarter ended June 30, 2012. Revenue for the June quarter totaled $238.3 million, a $5.0 million or 2.1 percent decline compared to the prior year quarter. The decline in revenue compared to the prior year quarter was due to a 2.5 percent decline in same-store sales, partially offset by sales growth related to an acquisition.

Orders Highest In 4 Years At Heidelberg In Q1

Q1 Incoming Orders the Highest in Four Years at Heidelberg: In the first quarter of financial year 2012/2013 (April 1 to June 30, 2012), Heidelberger Druckmaschinen Aktiengesellschaft (Heidelberg) recorded incoming orders of EUR 890 million (previous year: EUR 665 million), the highest figure in four years, thanks to the investment impetus created by the drupa industry trade show in May 2012. Due to the high volume of orders, the order backlog in the first quarter rose significantly to EUR 856 million, which is EUR 350 million higher.

Unilever Adopts Policy-Meet Sustainability Goals

http://www.twosides.info/newsitem.asp?NewsID=777
Unilever is first global FMCG company to commit to sourcing all of its paper and board packaging from sustainably managed forests or recycled material within a clearly defined time frame. Unilever has published a sustainable paper and board packaging sourcing policy as part of its commitment to double the size of the business while reducing its environmental impact. The policy outlines the company’s goal to work with its suppliers to source 75% of its paper and board packaging from sustainably managed forests or from recycled material by 2015, increasing to 100% by 2020.

College Students Still Favor Textbooks

http://lifeinc.today.msnbc.msn.com/_news/2012/08/08/13106902-plugged-in-college-students-still-favor-old-school-textbooks?lite
 E-books haven't solved the woes of high-priced college textbooks. For a plugged-in generation, college kids have old-school tastes in textbooks. Even as more publishers offer the choice of buying e-books for classes, students would rather lug around printed textbooks.“We have found that digital textbooks are still not as popular with students,” said Charles Schmidt, spokesman for the National Association of College Stores.
While the price of e-books can be 60 percent to 70 percent of the paper version, a NACS poll found that 74 percent of students still want print.That’s because most e-books are simply PDF files of the print book, and renting the paper version is still cheaper, said Schmidt.

Are E-Books & E-Readers Killing Printed Books

Are E-Books & E-Readers Killing Printed Books:
Did you see the announcement that Transcontinental, the largest printer in Canada and the fourth-largest in North America, is selling their book division? In case you missed it, Transcontinental announced they are selling their book printing assets to Marquis Book Printing. Is this a sign of problems in the book market? This announcement as well as others has reignited the conversation about E-Books vs. Printed Books.