Quad/Graphics posted a net loss of $12.4 million in the first quarter of 2020, the Wisconsin-based commercial printer reported on Wednesday, a significant improvement over its $22.8 million net loss in Q1 of 2019. Net sales dropped 14.4% year-over-year to $823 million, the company said, a decline that was partially mitigated by a 13.5% reduction in operating expenses, which it executed by furloughing staffers (while preserving their medical benefits), reducing capital expenditures by 45%, suspending quarterly dividends and reducing the salaries of over 750 of its highest-paid employees. "Our first quarter performance exceeded our expectations until mid-March when we started to feel the initial disruption from COVID-19," said chairman, president and CEO Joel Quadracci, who added that he's taken a temporary 50% pay cut. "We were able to deliver strong first quarter results, in part, by taking early and swift action to align our cost structure to lower volumes in certain product categories, thereby protecting our balance sheet and preserving cash flow and liquidity. We have historically treated almost all costs as variable, and demonstrated our agility to react in real-time during the pandemic to reduce costs." Quad/Graphics withdrew its full-year 2020 financial guidance in early April, citing uncertainty in customer demand as a result of the pandemic. Magazines, catalogs and special interest publications combined to form about 30% of the company's overall net sales in... Continue reading at 'Folio Magazine'
[ Folio Magazine | 2020-05-06 18:09:12 UTC ]
Lakeside Book Company, the book printing division of LSC Communications, will acquire Phoenix Color from ALJ Regional Holdings for $134.8 million. Continue reading at Publishers Weekly
[ Publishers Weekly | 2022-02-07 05:00:00 UTC ]
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The private equity firm Atlas Holdings has completed its purchase of LSC Communications, the country's largest book printer, which filed for bankruptcy in April. Continue reading at Publishers Weekly
[ Publishers Weekly | 2020-12-07 05:00:00 UTC ]
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The auction to acquire the assets of LSC Communications, which was to take place on September 3, has been postponed until September 9. Bids for the company have not yet been made public. Continue reading at Publishers Weekly
[ Publishers Weekly | 2020-09-02 04:00:00 UTC ]
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[caption id="attachment_180858" align="alignright" width="150"] Rob Silverstein[/caption] Meredith Corp. is planning to launch a syndicated daily TV show based on the People brand, the company said Tuesday, bringing on longtime "Access Hollywood" showrunner Rob Silverstein as executive... Continue reading at Folio Magazine
[ Folio Magazine | 2020-05-20 20:57:57 UTC ]
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Revenue in LSC Communications’ book group dropped 21.4% in the first quarter ended March 31, 2020, falling to $204 million. Lower demand for educational materials offset an increase in its trade business, the printer, which filed Chapter 11 in April, reported. Continue reading at Publishers Weekly
[ Publishers Weekly | 2020-05-12 04:00:00 UTC ]
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Quad/Graphics posted a net loss of $12.4 million in the first quarter of 2020, the Wisconsin-based commercial printer reported on Wednesday, a significant improvement over its $22.8 million net loss in Q1 of 2019. Net sales dropped 14.4% year-over-year to $823 million, the company said, a... Continue reading at Folio Magazine
[ Folio Magazine | 2020-05-06 18:09:12 UTC ]
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LSC Communications, one of the country’s largest printers and its largest book printer, has filed for Chapter 11 bankruptcy. The company said it expects to operate normally as it works its way through the restructuring process. Continue reading at Publishers Weekly
[ Publishers Weekly | 2020-04-13 04:00:00 UTC ]
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The printing giant posted a sales decline of 17.9% in the third quarter, although excluding one-time items "organic sales" were down 9.3%. The company also lowered its forecast for sales and earnings for the full year. Continue reading at Publishers Weekly
[ Publishers Weekly | 2019-11-07 05:00:00 UTC ]
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If you can find a bookie who’ll take some action on the latest pay-TV carriage dispute, bet everything you have that the stalemate between AT&T and CBS will end before the 2019 NFL season kicks off in September. Like Time Warner Cable before them, the phone company and its DirecTV subsidiary... Continue reading at Advertising Age
[ Advertising Age | 2019-07-22 20:52:00 UTC ]
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Late last week, Judge Charles R. Nagle denied Quad’s motions for an expedited trial in the Department of Justice’s lawsuit aimed at blocking Quad’s purchase of LSC Communications. The trial is set for November 14. Continue reading at Publishers Weekly
[ Publishers Weekly | 2019-07-15 04:00:00 UTC ]
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The U.S. Justice Department is suing to stop the proposed $1.4 billion deal between Quad/Graphics and LSC Communications on antitrust grounds. Continue reading at The New York Times
[ The New York Times | 2019-06-24 16:52:47 UTC ]
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It would be understandable if Snap Inc. is feeling a little jittery as it closes the book on its first quarter as a public company today. The owner of the Snapchat messaging and media app has to show strong ad sales and a growing user base when it makes its report after the close of business.... Continue reading at Advertising Age
[ Advertising Age | 2017-05-10 00:00:00 UTC ]
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News Corp., the publisher of newspapers such as the Wall Street Journal and New York Post, reported a 2.8% decline in first-quarter revenue, hurt by shrinking demand for print advertising.Sales fell to $2.07 billion in the period, which ended on Sept. 30, down from $2.13 billion a year earlier,... Continue reading at Crains New York
[ Crains New York | 2013-11-12 00:00:00 UTC ]
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Despite posting a 35% sales increase for the fourth quarter and earnings that were better than expected (if still down compared to a year ago), last week was a tough one for Amazon. Analysts and investors were disappointed in the quarterly report, and the stock price for the nation’s largest... Continue reading at Publishers Weekly
[ Publishers Weekly | 2012-02-03 00:00:00 UTC ]
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News Corp. released its earnings report for the quarter that ended in March, and the results are a little disappointing. The company reported a decline in its operating income, which was down to about $1 billion, compared to $1.25 billion over the same period last year. The drop-off appears to... Continue reading at AdWeek
[ AdWeek | 2011-05-05 00:00:00 UTC ]
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