In a prepared statement from Landa Digital Printing, the company has initiated a “restructuring process to align the company’s structure with the current business environment and support its growth. The company’s rise in the number of printing presses installed at customer sites. It cites that many of those are repeat orders, including Marketing Alliance Group and Advantage ColorGraphics, in recent months.
Landa to Require Greater Investment, Announces Restructure
Related Posts
Revenues decreased by $83.1 million, or 11.8%, from $705.8 million in the first quarter of 2020 to $622.7 million in the corresponding period of 2021. This decline is mainly attributable to lower volume in the Printing Sector due to the impact of the COVID-19 pandemic and the sale of the paper packaging operations, which occurred toward the end of the first quarter of the previous year. This decrease was partially mitigated by the solid organic growth in revenues in the Packaging Sector and the revenues generated by the acquisition of Artisan Complete Limited in the Printing Sector. Operating earnings increased by $6.4 million, or 15.7%, from $40.8 million in the first quarter of 2020 to $47.2 million in the first quarter of 2021. The increase in operating earnings is explained by the organic growth in the Packaging Sector. In addition, in the Printing Sector, initiatives to optimize operational efficiency and the Canada Emergency Wage Subsidy offset a majority of the decrease in volume. Net earnings attributable to shareholders of the Corporation increased by $21.3 million, from $6.4 million in the first quarter of 2020 to $27.7 million in the first quarter of 2021. This increase is mostly explained by the income tax expense related to the sale of the paper packaging operations in the first quarter of 2020, higher operating earnings and the decrease in net financial expenses resulting from a reduction in net indebtedness and a lower weighted average interest rate.
LSC Communications announced that it has acquired The Clark Group. Clark is a leading third-party logistics provider of distribution, consolidation, transportation management and international freight forwarding services, with a network of nine strategically located distribution centers in the US. “Continuing to expand LSC’s logistics service offering in ways that add value to our clients’ businesses has been a sharp focus for us,” said Thomas J. Quinlan III, Chairman and CEO of LSC. “The Clark Group brings a range of supply chain services to LSC that position us for growth, including the ability to better provide a full-service offering for magazine clients with newsstand distribution as well as reverse logistics solutions for our book publisher clients.” Click Read More below for additional information.
Net sales in the quarter were $1.93 billion, up $66.9 million or 3.6% from the fourth quarter of 2016. On an organic basis, consolidated net sales increased 2.6% driven by significant volume growth in the International segment. Gross profit in the fourth quarter of 2017 was $365.0 million or 19.0% of net sales versus $363.7 million or 19.6% of net sales in the prior year quarter. Income from operations was $104.6 million in the fourth quarter compared to a loss from operations of $466.9 million in the 2016 quarter. Net loss attributable to common stockholders from continuing operations of $52.8 million in the fourth quarter compared to a net loss of $488.6 million in the fourth quarter of 2016.