HP Inc. and Shutterfly, the world’s leading online retailer of personalized products, today announced a landmark expansion of their strategic relationship to deliver next-level productivity to supply the growing e-commerce market of photo gifts and photo products. Shutterfly is investing in more than 60 new high-performance HP Indigo Digital Presses to drive higher productivity for its range of high-quality, photo-based and personalized products including photo gifts, photo books, school portraits, holiday cards, and home decor. The agreement with Shutterfly, the leading US supplier of HP Indigo digital print, is the largest single customer order to date for the HP Graphics business. Now underway, the rollout includes next-generation, high-productivity B2 sized HP Indigo 100K digital presses, high versatility HP Indigo 12000 digital presses, as well as significant investment in web-fed photo presses to transform photo portrait printing to digital.

Nearly 20 printing companies are interested in hiring at least some of the 656 LSC Communications workers who are set to be laid off by March 31. Many of those jobs, however, are not in the Lancaster area. LSC announced last week it planned to shutter its two Lancaster city plants amid a decline in demand for catalogs and magazines. “Sixteen printing companies have reached out to us directly so far,” Melissa Noebes, senior vice president LSC Communications, told LNP | LancasterOnline. “At least a half dozen are in the greater Lancaster area. A few more are located just across the Maryland border. In addition, we have inquiries coming in from printing companies around the country, many of whom are offering generous relocation packages.” She did not respond to a request to provide names of the companies.

Fourth quarter net sales were $999 million, up $80 million, or 8.7%, from the fourth quarter of 2016. After adjusting for acquisitions, changes in foreign exchange rates, and pass-through paper sales, organic net sales decreased 4.6% from the fourth quarter of 2016. Fourth quarter 2017 net loss was $58 million, or $1.68 per diluted share, compared to net income of $9 million, or $0.26 per diluted share, in the fourth quarter of 2016. The effective tax rate for the fourth quarter of 2017 reflected $24 million of one-time provisional tax expense related to the enactment of the Tax Cuts and Jobs Act, which will be further detailed in the 2017 Form 10-K, as well as the impact from non-deductible goodwill impairment charges. Non-GAAP adjusted EBITDA in the fourth quarter of 2017 was $85 million, or 8.5% of net sales, compared to $80 million, or 8.7% of net sales, in the fourth quarter of 2016. Click Read More below for additional information.