Verso Reports Q2 Results

http://www.paperage.com/

Verso Paper Corp. (NYSE: VRS) today reported financial results for the second quarter and six months ended June 30, 2013. Results for quarters ended June 30, 2013 and 2012 include:

Operating loss of $8.5 million in the second quarter of 2013, compared to operating loss of $9.5 million in the second quarter of 2012, and operating loss of $9.6 million in the first half of 2013, compared to operating loss of $21.8 million in the first half of 2012.
Net loss before items of $39.2 million, or $0.74 per diluted share, in the second quarter of 2013, compared to net loss before items of $43.1 million, or $0.81 per diluted share, in the second quarter of 2012.
Adjusted EBITDA before pro forma effects of profitability program of $22.2 million in the second quarter of 2013, compared to $23.5 million in the second quarter of 2012 (Note: Adjusted EBITDA is a non-GAAP financial measure and is defined and reconciled to net income later in this release).
Verso’s net sales for the second quarter of 2013 decreased $34.9 million, or 9.5%, compared to the second quarter of 2012, reflecting a 10.4% decline in total sales volume, which was driven by the closure of the Sartell mill in the third quarter of 2012. The average sales price per ton increased slightly over the same period in the prior year driven by higher sales prices for our pulp and other segments, while coated prices remained flat. Verso’s gross margin was 11.0% for the second quarter of 2013 compared to 11.5% for the second quarter of 2012. 
Verso reported a net loss before special items of $39.2 million in the second quarter of 2013, or $0.74 per diluted share, excluding special items of $3.8 million, or $0.07 per diluted share, primarily related to unrealized losses on energy-related derivative contracts. Verso had a net loss before special items of $43.1 million, or $0.81 per diluted share, in the second quarter of 2012, which excluded $22.4 million of net benefits from special items, or $0.42 per diluted share, primarily due to gains on early debt extinguishment.

Neenah Paper Reports Q2 Results

http://www.paperage.com/

Neenah Paper, Inc. (NP) today reported adjusted earnings from continuing operations of $0.80 per diluted common share in the second quarter of 2013 compared with $0.85 per share in the second quarter of 2012. Excluding adjustments, GAAP earnings in the second quarter were $0.77 per diluted common share in both periods. Adjusted earnings excluded costs of $0.03 per share in 2013 primarily for refinancing the Company’s senior notes. In 2012, adjusted earnings excluded costs of $0.08 per share to integrate acquired brands.

For the second quarter, net sales of $212.3 million in 2013 were up slightly compared to 2012 as increased Fine Paper sales offset lower sales of Other products. Operating income of $22.6 million in 2013 compared to $22.0 million in the prior year as increases in Fine Paper similarly offset lower operating income from Other products. Net income of $12.8 million in 2013 compared to $12.7 million in the prior year and reflected higher operating income and lower interest expense partly offset by a higher effective tax rate.

Nippon to Jointly Establish Power Generation Co,

http://www.nipponpapergroup.com/e/

reached an agreement and signed a joint venture contract with Mitsubishi Corporation (President: Ken Kobayashi) and Chubu Electric Power Co., Inc. (President: Akihisa Mizuno) for the establishment of a power generation company ("the New Company") that will construct and operate a 100-megawatt-class coal fired power generation unit.

The New Company will set up a power generation unit on the premises of the Company's Fuji Mill Suzukawa (Fuji, Shizuoka). The Company will be commissioned to operate and maintain the unit, and the New Company will sell electric power to Diamond Power Corporation (PPS; Power Producer and Supplier). Its business is scheduled to commence in May 2016.

World Demand for Corrugated Demand in 2017

http://www.paperage.com/2013news/08_08_2013corrugated_boxes_freedonia.html

World demand for corrugated boxes is forecast to increase 4.2 percent per year to 234 billion square meters in 2017, slightly outpacing real (inflation-adjusted) gains in GDP. Factors contributing to rising box demand include growth in industrial activities, particularly the manufacturing sector, which often requires corrugated packaging to protect and transport goods. In addition, ongoing developments in small flute and high-quality graphic board will allow corrugated boxes to penetrate traditional folding carton applications, especially in the developed world. Greater interest in corrugated packaging as a point-of-sale display in retail applications will also boost demand for value-added corrugated boxes.

Thrillist Expands, Blend of Frommer's & Foursquare

http://adage.com/article/digital/thrillist-expands-blend-frommer-s-foursquare/243526/

Thrillist Media Group has been telling young, urban makes what to eat, drink and buy since it launched as a daily newsletter in 2005. Now it wants to tell them where to go.
The company will expand its local coverage from its current 21 markets to more than 65 cities by the end of 2014, adding add Montreal, New Orleans, Sydney, Rome and Berlin in the next two weeks. In addition, it is introducing a new vertical Thrillist Travel to organize that content for the site's on-the-go audience.
http://www.foliomag.com/2013/thrillist-media-expands-travel-guide-business#.UgPBY7yYyKw

Thrillist Media Group is expanding its brand beyond food, drink and style as it looks to become a go-to travel companion for its young urban male audience.

The publication began as a daily lifestyle newsletter in 2005 and has since expanded into an online content network reaching 21 markets and an e-commerce site called JackThreads. Now, the company is planning to add an additional 40+ markets, hitting 65 by the end of 2014. At the same time, it's launching Thrillist Travel, a dedicated travel vertical.

Consumers Say they Want Paper Billing Options

http://twosidesus.wordpress.com/2013/08/07/consumers-say-they-want-paper-billing-options-and-distrust-e-bill-greenwashing-is-corporate-america-listening/

Any first-year marketing undergrad can tell you that successful selling comes from building trust and listening to customers.  So, why are many U.S. banks, telecom companies and utilities turning a deaf ear to the majority of consumers who say getting paper bills and statements is important to them?
Just about anybody can tell you that the push to go paperless is really about cost savings. In fact, 84% of people in a recent Two Sides survey agreed that paperless bills and statements are being promoted to reduce costs.  But how much does cost cutting benefit the bottom line if companies are losing customers as a result?  In that same survey, 64% of consumers said that when they’re shopping for a new service provider, they would skip companies that don’t offer the option of a paper bill.   Nearly six in 10 also said they would refuse to switch to e-bills and statements or would not take any action if asked to do so.

Folio: People on the Move

http://www.foliomag.com/2013/people-move-8-8-13#.UgP_ZLyYyKw

New York Magazine has named multiple hires and promotions:
Bobby Doherty joins the magazine as staff photographer. He was previously a freelance photographer.
Nadia Lachance has been promoted to senior/deputy photo editor. She had been photo editor at the magazineRoxanne Behr has been promoted to photo editor. Previously she was associate photo editor at the magazine.

Time Inc.

Jeff Bairstow has joined Time Inc. as CFO. He was formerly president at Digital First Media. Time Inc. also named Sam Mansour as director, digital ad product experience. He had been director, global studio operations at Say Media.
Lois Romano is now events editor at Politico. Previously she was senior political reporter at the publication.
TIME and TIME.com have announced new hires.
Ryan Sager joins as editorial director, TIME Ideas. Sager comes to TIME from The Wall Street Journal. Prior to the Journal, he was on the editorial board of the New York Post and was on the founding staff of the New York Sun.
Callie Schweitzer will join as director of digital innovation. Previously she was director of marketing and communications at Vox Media.
Chris Wilson comes to TIME
from Yahoo as interactive graphics designer. At Yahoo he was the
director of news interactives for Yahoo News and editor of The Signal
blog.
Meredith Corporation also announced multiple hires.
Alison Adler Matz has been named publisher of More
magazine. She joins Meredith from Martha Stewart Living Omnimedia where
she served as senior vice president, strategic brand sales.
Steven Grune has been named publisher of Allrecipes
magazine. Grune has served as vice president/group publisher at Bonnier
Corporation, where he oversaw multiple titles including Popular
Science.
Andy Wilson has been promoted to senior VO/chief
digital officer at Meredith. He had been SVP, audience development and
commerce, at the company.
Jon Werther has been promoted to EVP/publisher at Meredith Digital. Previously he was chief strategy officer at the company.
And more...

Publishers Protest DOJ’s Proposed Apple Remedies

http://ipdahome.org/newsstand/?cat=296

The five publishers that settled with the federal government in the ebook pricing case objected to the Dept. of Justice’s proposed injunction for Apple, in a joint court filing on Wednesday. They argue that the injunction modifies the settlements that they already reached with the government, and would punish publishers more than Apple. Penguin, Hachette, Macmillan, Simon & Schuster and HarperCollins reached settlements with the DOJ that allow retailers to discount their ebooks for two years and prohibit most-favored-nation clauses for five years. Those settlements are already in effect; in fact, retailers have  been discounting HarperCollins ebooks for nearly a year now. DOJ’s proposed injunction would effectively overturn those settlements by allowing retailers to discount publishers’ ebooks for five years. “The provisions [in the injunction] do not impose any limitation on Apple’s pricing behavior at all,” the publishers write. ”Rather, under the guise of punishing Apple, they effectively punish the Settling Defendants by prohibiting agreements with Apple using an agency model.” The proposed injunction “directly conflicts” with the settlements that the publishers already reached, and “unreasonably and unnecessarily restrains the Settling Defendants’ independent business decisions beyond the scope and time provided for in their respective consent decrees,” they argue. The publishers conclude that the DOJ is “attempting to impose a specific business model on the publishing industry, despite their express and repeated representations that they would play no such role.” They ask Judge Denise Cote, the federal judge overseeing the case, to reject the DOJ’s proposed injunction.

The First Myth of Print Sales

http://digitalprinting.blogs.xerox.com/2013/08/the-first-myth-of-print-sales-more-sales-activity-creates-more-profit/#.UgPFHryYyKw

If you throw enough mud some of it sticks
This is a saying that I hear a lot when I’m talking to print salespeople. They are focused on creating as much activity as possible. They are contacting as many customers as possible as many times as possible.
The main object is to get a lot of quote requests. These salespeople work on the basis that the more prices they give out, the more work they are likely to book in.
You have to admire these people. They are slogging away in a difficult market place, day in, day out. It is certainly hard work. The trouble is, that this sort of activity tends to generate revenue, not profit.

Cenveo Reports Q2/H1 Results

http://www.piworld.com/article/cenveo-has-reported-its-q2-2013-results/1

Cenveo Inc. (NYSE: CVO) today announced results for the three and six months ended June 29, 2013.
The company generated net sales of $415.7 million for the three months ended June 29, 2013, compared to $433.2 million for the same period last year. The company generated net sales of $844.0 million for the six months ended June 29, 2013, compared to $883.0 million for the same period last year. The decrease in net sales for both periods was primarily due to lower sales volumes in our commercial print operations mainly resulting from production timing and lower customer demand, lower sales of office product envelopes due to the transition of a low margin account out of our operating platform, lower average selling price from our direct envelopes due to our initiatives to gain market share as well as pricing pressures primarily from a competitor now in bankruptcy protection. These decreases were offset in part by higher sales volume from our direct envelopes due to our initiatives to increase market share and increased direct mail demand.