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 Glatfelter
( Last updated Wednesday, April 1, 2015 8:06 pm EDT)
Glatfelter Increases Dividend by 9%
Glatfelter Increases Dividend by 9% Posted Thursday, February 26, 2015 12:00 am EST

 
GLATFELTER to Present at the JP Morgan Global High Yield & Leveraged Finance Conference
GLATFELTER to Present at the JP Morgan Global High Yield & Leveraged Finance Conference Posted Tuesday, February 17, 2015 12:00 am EST

 
GLATFELTER REPORTS FULL YEAR AND FOURTH QUARTER EARNINGS
GLATFELTER REPORTS FULL YEAR AND FOURTH QUARTER EARNINGS Posted Thursday, February 5, 2015 12:00 am EST

 
GLATFELTER APPOINTS CHRISTOPHER W. ASTLEY AS SENIOR VICE PRESIDENT & BUSINESS UNIT PRESIDENT, ADVANCED AIRLAID MATERIALS
GLATFELTER APPOINTS CHRISTOPHER W. ASTLEY AS SENIOR VICE PRESIDENT & BUSINESS UNIT PRESIDENT, ADVANCED AIRLAID MATERIALS Posted Tuesday, January 13, 2015 12:00 am EST

 
Glatfelter to Report Earnings on February 5, 2015
Glatfelter to Report Earnings on February 5, 2015 Posted Tuesday, January 13, 2015 12:00 am EST

 
Glatfelter Declares Dividend of $0.11 on Common Stock
Glatfelter Declares Dividend of $0.11 on Common Stock Posted Thursday, December 11, 2014 12:00 am EST

 
GLATFELTER REPORTS RECORD ADJUSTED EPS OF $0.70 DRIVEN BY TOP-LINE GROWTH AND OPERATIONAL EFFICIENCIES IN SPECIALTY PAPERS AND ADVANCED AIRLAID MATERIALS BUSINESS UNITS
GLATFELTER REPORTS RECORD ADJUSTED EPS OF $0.70 DRIVEN BY TOP-LINE GROWTH AND OPERATIONAL EFFICIENCIES IN SPECIALTY PAPERS AND ADVANCED AIRLAID MATERIALS BUSINESS UNITS Posted Monday, November 3, 2014 12:00 am EST

 
Glatfelter to Report Earnings on November 4th
Glatfelter to Report Earnings on November 4th Posted Monday, October 13, 2014 12:00 am EDT

 
 Graphics Packaging
( Last updated Wednesday, April 1, 2015 8:06 pm EDT)
Graphic Packaging Announces Release Date for First Quarter 2015 Earnings

ATLANTA, March 31, 2015 /PRNewswire/ -- Graphic Packaging Holding Company (NYSE: GPK) will release results for first quarter 2015 on Thursday, April 23rd before the market opens.  The same morning, the company will host a conference call at 10:00 a.m. eastern to discuss first quarter results.  To access the live conference call, listeners calling from within North America should dial 800-392-9489 at least 10 minutes prior to the start of the conference call (Conference ID #18695656).  Listeners may also access the audio webcast at the Investor Relations section of the Graphic Packaging website: http://www.graphicpkg.com.  Replays of the call will be available for one week following the completion of the call and can be accessed by dialing 855-859-2056.

About Graphic Packaging Holding Company
Graphic Packaging Holding Company (NYSE: GPK), headquartered in Atlanta, Georgia, is a leading provider of packaging solutions for a wide variety of products to food, beverage and other consumer products companies.  The Company is one of the largest producers of folding cartons and holds a leading market position in coated unbleached kraft and coated recycled board. The Company's customers include some of the most widely recognized companies in the world. Additional information about Graphic Packaging, its business and its products, is available on the Company's website at www.graphicpkg.com.

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/graphic-packaging-announces-release-date-for-first-quarter-2015-earnings-300058736.html

SOURCE Graphic Packaging Holding Company

Brad Ankerholz, Graphic Packaging Holding Company, 770-240-7971
Posted Tuesday, March 31, 2015 3:23 pm EDT

 
Graphic Packaging Holding Company Reports Strong Fourth Quarter and Full Year 2014 Results; Announces Dividend and Share Repurchase Capital Allocation Plan

ATLANTA, Feb. 5, 2015 /PRNewswire/ --

Fourth Quarter Highlights

  • Q4 Adjusted Earnings per Diluted Share increased to $0.21 versus $0.17 in the prior year period.
  • Q4 Adjusted EBITDA increased to $171.8 million versus $158.3 million in the prior year period.
  • Company initiates $0.05 per share quarterly dividend and $250 million share repurchase program.
  • Company acquires folding carton converting and paperboard mill assets of Cascades' Norampac Division.
  • Company acquires Rose City Printing and Packaging, Inc.

Graphic Packaging Holding Company (NYSE: GPK), (the "Company"), a leading provider of packaging solutions to food, beverage and other consumer products companies, today reported Net Income for fourth quarter 2014 of $41.5 million, or $0.13 per share, based upon 331.0 million weighted average diluted shares.  This compares to fourth quarter 2013 Net Income of $46.0 million, or $0.13 per share, based on 344.8 million weighted average diluted shares.

Including the tax impact, fourth quarter 2014 Net Income was negatively impacted by $28.6 million of special charges (the largest charges relating to the refinancing and retirement of the Company's 2018 Bonds and the amendment and extension of the Company's senior secured credit facility). When adjusting for these charges, Adjusted Net Income for the fourth quarter of 2014 was $70.1 million, or $0.21 per diluted share. This compares to fourth quarter 2013 Adjusted Net Income of $58.6 million or $0.17 per diluted share.

For the full year 2014, Net Income was $89.7 million, or $0.27 per diluted share, based on 330.5 million weighted average diluted shares.  This compares to 2013 Net Income of $146.6 million or $0.42 per diluted share, based on 349.7 million weighted average diluted shares.  Including the tax impact, full year 2014 Net Income was negatively impacted by $148.4 million of special charges (the largest charges relating to the loss on the sale of the Company's multi-wall bag and label businesses earlier in the year).  When adjusting for these charges, 2014 Adjusted Net Income was $238.1 million or $0.72 per diluted share, compared to full year 2013 Adjusted Net Income of $181.4 million, or $0.52 per diluted share.

"We delivered record fourth quarter results in what continues to be a challenging operating environment," said Chairman, President and CEO David Scheible. "Excluding the divested businesses, sales in our ongoing operations increased 5.6% and we continue to gain share in many of our markets.  Adjusted EBITDA margin increased 250 basis points to a fourth quarter record of 17.2% and we generated over $130 million of net debt reduction in the fourth quarter, meeting our full year commitment to deliver $350 million of cash available for net debt reduction.  These strong results are the outcome of our efforts over the last 18 months to exit lower margin businesses and to refocus our resources on our core paperboard packaging segment. At the same time, we continued to execute on our continuous improvement programs across the organization and achieved almost $60 million of margin enhancing performance improvements in 2014."

Mr. Scheible continued, "Graphic Packaging's financial performance and balance sheet have strengthened considerably over the past several years.  We are now in a position to return cash to stockholders while still maintaining financial flexibility to execute our strategic plan, further strengthen our balance sheet and invest for future growth.  I am happy to announce that Graphic Packaging's Board of Directors has approved the initiation of a $0.05 per share quarterly dividend while also providing the flexibility to return additional cash to stockholders through a $250 million share repurchase program."

"Investing in high return projects and strategic acquisitions remains a core part of our growth strategy. The previously announced acquisition of the folding carton converting and paperboard mill assets of Cascades' Norampac division closed earlier this week.  We are extremely excited as these assets enable us to extend our customer reach in Canada.  I am also happy to say that subsequent to year end, we acquired Rose City Printing and Packaging, Inc., which includes two state-of-the-art folding carton converting facilities located just outside Portland, Oregon. This acquisition increases our integrated west coast presence allowing us to better serve new and existing customers."

Capital Allocation Plan

The Company's recently approved capital allocation plan includes the initiation of a $0.05 per share quarterly dividend.  The first cash dividend is payable April 5, 2015 to stockholders of record on March 15, 2015.

The capital allocation plan also includes a share repurchase program under which management may repurchase up to $250 million of shares from time to time through open market purchases, privately negotiated transactions and Rule 10b5-1 plans in accordance with applicable securities laws.  The purchases, if made, will occur from time to time depending on market conditions.

Completion of Acquisitions

On January 2, 2015, the Company acquired Rose City Printing and Packaging, Inc. through the purchase of all issued and outstanding stock of Rose City Holding Company.  The acquisition includes two state-of-the art folding carton converting facilities located just outside Portland, OR.  The purchase of Rose City enhances Graphic Packaging's folding carton manufacturing footprint on the west coast and allows for further integration of Graphic Packaging's SUS and CRB mill production.

On February 4, 2015, the Company completed the acquisition of the folding carton and paperboard mill assets of Cascades' Norampac Division.  The acquisition includes three Canadian folding carton converting facilities, a CRB mill and an SBS substitute mill. The purchase allows the Company to extend its scope into Canada, broaden its customer base and offer its current customers a wider range of products.

Operating Results

Net Sales

Net Sales decreased 6.9% to $1,001.1 million in the fourth quarter 2014, compared to $1,074.9 million in the prior year period.  Excluding $127.3 million of sales in the prior year period from divested businesses, Net Sales increased $53.5 million or 5.6%.  The increase was driven by $49.3 million of improved volume/mix and $16.4 million of higher pricing.  The sales increase was partially offset by $12.2 million of unfavorable exchange rates.

Full year 2014 Net Sales decreased 5.3% to $4,240.5 million compared to $4,478.1 million in 2013.  Excluding $388.1 million of sales in 2013 from divested businesses, Net Sales increased $150.5 million or 3.7%.  The increase was driven by $78.1 million of higher pricing and $75.2 million of improved volume/mix. The sales increase was partially offset by $2.8 million of unfavorable exchange rates.

Attached is supplemental data showing Net Tons Sold, Net Sales and Income (Loss) from Operations for the Paperboard Packaging Segment for each quarter of 2014 and 2013.

EBITDA

EBITDA for fourth quarter 2014 was $145.5 million, or $5.5 million higher than the fourth quarter of 2013.  When adjusting for special charges, Adjusted EBITDA increased 8.5% to $171.8 million in the fourth quarter of 2014 from $158.3 in the fourth quarter of 2013.  When comparing against the prior year quarter, Adjusted EBITDA in the fourth quarter of 2014 was positively impacted by $16.4 million of higher pricing, $12.0 million of improved net operating performance and $1.7 million of favorable volume/mix. These benefits were partially offset by $6.3 million from divested businesses, $5.0 million in other costs, primarily for labor and benefits, $4.7 million of unfavorable exchange rates and $0.6 million of commodity inflation.

Full year 2014 EBITDA decreased 20.9% to $497.3 million from $628.7 million in 2013.  When adjusting for special charges, Adjusted EBITDA increased 6.1% to $710.8 million in 2014 from $670.2 million in 2013.  When comparing against 2013, Adjusted EBITDA in 2014 was positively impacted by $78.1 million of higher pricing, $57.5 million of improved net operating performance and $4.3 million of favorable volume/mix. These benefits were partially offset by $40.4 million of commodity inflation, $35.2 million other costs, primarily for labor and benefits, $18.5 million from divested businesses and $5.2 million of unfavorable exchange rates.

Other Results

Total Net Debt at the end of 2014 was $1,892.7 million, or $308.7 million lower than at the end of 2013.  After adjusting for net acquisition and divestiture activities and capital market activities, cash available for net debt reduction would have been in excess of $350 million. The Company's year-end 2014 Net Leverage Ratio dropped to 2.66 times Adjusted EBITDA from 3.28 times Adjusted EBITDA at the end of 2013.  At December 31, 2014, the Company had available domestic liquidity of $1,058.2 million, including the undrawn availability under its $1.25 billion revolving credit facility.

In October 2014, the Company amended and extended its senior secured credit facility.  The amendment extended the facility's maturity date by one year and lowered pricing by 25 basis points, currently at 150 basis points. This action is expected to result in more than $3 million of lower annual interest expense.  During November 2014, the Company also completed the issuance and sale of $250 million principal amount of 4.875% Notes due 2022.  The proceeds were used to redeem the Company's $250 million 7.875% Senior Notes due in 2018.  The refinancing is expected to result in net annual interest savings of approximately $7 million.

Net Interest Expense was $18.7 million in fourth quarter 2014, compared to $21.5 million in fourth quarter 2013.  Full year 2013 Net Interest Expense was $80.7 million compared to $101.9 million in 2013.  The decrease was due to both lower debt balances and lower overall interest rates.

Capital expenditures for fourth quarter 2013 were $50.0 million compared to $56.0 million in the fourth quarter of 2013.  For full year 2014, capital expenditures were $201.4 million compared to $209.2 million in 2013.

Fourth quarter 2014 Income Tax Expense was $14.5 million compared to a benefit of $3.5 million in the fourth quarter of 2013.  For the full year 2014, Income Tax Expense was $45.4 million compared to $67.4 million in 2013.  As of December 31, 2014, the Company had approximately $712 million of NOLs for U.S. federal income tax purposes, which may be used to offset future taxable income.

Please note that a tabular reconciliation of EBITDA, Adjusted EBITDA, Adjusted Net Income and Total Net Debt is attached to this release.

Earnings Call

The Company will host a conference call at 10:00 am eastern time today (February 5, 2015) to discuss the results of fourth quarter and full year 2014.  To access the conference call, listeners calling from within North America should dial 800-392-9489 at least 10 minutes prior to the start of the conference call (Conference ID #63098186).  Listeners may also access the audio webcast, along with a slide presentation, at the Investor Relations section of the Graphic Packaging website: http://www.graphicpkg.com.  Replays of the call can be accessed for one week by dialing 855-859-2056.

Forward Looking Statements

Any statements of the Company's expectations in this press release constitute "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. Such statements, including but not limited to, payment of dividends and possible share repurchases, interest expense savings and assessments regarding the use of the Company's NOLs are based on currently available information and are subject to various risks and uncertainties that could cause actual results to differ materially from the Company's present expectations.  These risks and uncertainties include, but are not limited to, inflation of and volatility in raw material and energy costs, continuing pressure for lower cost products, the Company's ability to implement its business strategies, including productivity initiatives and cost reduction plans, the Company's debt level, currency movements and other risks of conducting business internationally, the impact of regulatory and litigation matters, including the continued availability of the Company's net operating loss offset to taxable income.  Undue reliance should not be placed on such forward-looking statements, as such statements speak only as of the date on which they are made and the Company undertakes no obligation to update such statements.  Additional information regarding these and other risks is contained in the Company's periodic filings with the SEC.

About Graphic Packaging Holding Company

Graphic Packaging Holding Company (NYSE:GPK), headquartered in Atlanta, Georgia, is a leading provider of packaging solutions for a wide variety of products to food, beverage and other consumer products companies.  The Company is one of the largest producers of folding cartons and holds a leading market position in coated-unbleached kraft, coated-recycled boxboard and specialty packaging. The Company's customers include some of the most widely recognized companies in the world. Additional information about Graphic Packaging, its business and its products, is available on the Company's web site at www.graphicpkg.com.

 


GRAPHIC PACKAGING HOLDING COMPANY

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(Unaudited)




 Three Months Ended


Twelve Months Ended



December 31,


December 31,

In millions, except per share amounts


2014



2013



2014



2013


Net Sales


$

1,001.1



$

1,074.9



4,240.5



$

4,478.1


Cost of Sales


816.4



901.5



3,453.3



3,752.5


Selling, General and Administrative


86.5



94.3



365.5



384.3


Other Income, Net


(2.4)



(2.1)



(3.7)



(13.4)


Restructuring and Other Special Charges


11.9



18.2



197.6



13.1


Income from Operations


88.7



63.0



227.8



341.6


Interest Expense, Net


(18.7)



(21.5)



(80.7)



(101.9)


Loss on Modification or Extinguishment of Debt


(14.4)





(14.4)



(27.1)


Income before Income Taxes and Equity Income of Unconsolidated Entities


55.6



41.5



132.7



212.6


Income Tax (Expense) Benefit


(14.5)



3.5



(45.4)



(67.4)


Income before Equity Income of Unconsolidated Entities


41.1



45.0



87.3



145.2


Equity Income of Unconsolidated Entities


0.4



0.3



1.7



1.5


Net Income


$

41.5



$

45.3



89.0



$

146.7


Net Income (Loss) Attributable to Noncontrolling Interests




0.7



0.7



(0.1)


Net Income Attributable to Graphic Packaging Holding Company


$

41.5



$

46.0



89.7



$

146.6















Net Income Per Share Attributable to Graphic Packaging Holding Company - Basic


$

0.13



$

0.13



$

0.27



$

0.42


Net Income Per Share Attributable to Graphic Packaging Holding Company - Diluted


$

0.13



$

0.13



$

0.27



$

0.42















Weighted Average Number of Shares Outstanding - Basic


329.0



341.0



328.6



347.3


Weighted Average Number of Shares Outstanding - Diluted


331.0



344.8



330.5



349.7


 

 


GRAPHIC PACKAGING HOLDING COMPANY

CONDENSED CONSOLIDATED BALANCE SHEETS

(Unaudited)




December 31,


December 31,

In millions, except share and per share amounts


2014



2013









ASSETS







Current Assets:







Cash and Cash Equivalents


$

81.6



$

52.2


Receivables, Net


408.3



412.8


Inventories, Net


521.8



557.1


Deferred Income Tax Assets


177.2



171.3


Other Current Assets


32.0



38.8


Total Current Assets


1,220.9



1,232.2


Property, Plant and Equipment, Net


1,546.8



1,678.9


Goodwill


1,118.1



1,125.4


Intangible Assets, Net


385.6



467.0


Other Assets


59.9



55.8


Total Assets


$

4,331.3



$

4,559.3









LIABILITIES







Current Liabilities:







Short-Term Debt and Current Portion of Long-Term Debt


$

32.2



$

77.4


Accounts Payable


424.9



428.3


Other Accrued Liabilities


219.6



205.5


Total Current Liabilities


676.7



711.2


Long-Term Debt


1,942.1



2,176.2


Deferred Income Tax Liabilities


309.3



329.9


Other Noncurrent Liabilities


390.9



268.4









Redeemable Noncontrolling Interests




11.3









SHAREHOLDERS' EQUITY







Preferred Stock, par value $.01 per share; 100,000,000 shares authorized; no shares issued or outstanding





Common Stock, par value $.01 per share; 1,000,000,000 shares authorized; 327,044,500 and 324,742,642 shares issued and outstanding at December 31, 2014 and December 31, 2013, respectively


3.3



3.2


Capital in Excess of Par Value


1,796.5



1,789.9


Accumulated Deficit


(452.9)



(542.6)


Accumulated Other Comprehensive Loss


(334.6)



(188.2)


Total Shareholders' Equity


1,012.3



1,062.3


Total Liabilities and Shareholders' Equity


$

4,331.3



$

4,559.3


 


GRAPHIC PACKAGING HOLDING COMPANY

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited)




Twelve Months Ended



December 31,

In millions


2014



2013


CASH FLOWS FROM OPERATING ACTIVITIES:







Net Income


$

89.0



$

146.7


Noncash Items Included in Net Income:







Depreciation and Amortization


270.0



277.4


Deferred Income Taxes


33.1



62.7


Amount of Postretirement Expense Less Than Funding


(46.3)



(12.4)


Loss (Gain) on the Sale of Assets


173.6



(26.6)


Other, Net


47.4



32.5


Changes in Operating Assets & Liabilities


(40.2)



(22.3)


Net Cash Provided by Operating Activities


526.6



458.0









CASH FLOWS FROM INVESTING ACTIVITIES:







Capital Spending


(201.4)



(209.2)


Proceeds from Government Grant


26.9




Acquisition of Businesses


(190.7)




Cash Acquired Related to Acquisitions


16.9




Proceeds Received from the Sale of Assets, Net of Selling Costs


170.8



73.5


Other, Net


(5.7)



(8.7)


Net Cash Used in Investing Activities


(183.2)



(144.4)









CASH FLOWS FROM FINANCING ACTIVITIES:







Repurchase of Common Stock




(200.0)


Proceeds from Issuance or Modification of Debt


250.0



425.0


Retirement of Long-Term Debt


(247.7)



(425.0)


Payments on Debt


(214.6)



(71.3)


Borrowings under Revolving Credit Facilities


1,957.9



1,729.2


Payments on Revolving Credit Facilities


(2,012.2)



(1,738.0)


Redemption and Early Tender Premiums and Debt Issuance Costs


(16.8)



(29.9)


Repurchase of Common Stock related to Share-Based Payment


(14.7)



(11.2)


Other, Net


(10.7)



10.1


Net Cash Used In Financing Activities


(308.8)



(311.1)









Effect of Exchange Rate Changes on Cash


(5.2)



(1.8)









Net Increase in Cash and Cash Equivalents


29.4



0.7


Cash and Cash Equivalents at Beginning of Period


52.2



51.5


Cash and Cash Equivalents at End of Period


$

81.6



$

52.2


 

 

Reconciliation of Non-GAAP Financial Measures

The tables below set forth the calculation of the Company's earnings before interest expense, income tax expense, equity income of unconsolidated entities, depreciation and amortization ("EBITDA"), Adjusted EBITDA, Adjusted Net Income, Net Leverage Ratio and Total Net Debt. Adjusted EBITDA and Adjusted Net Income exclude charges associated with: the Company's business combinations, sale or shutdown of assets, other special (credits) charges and the modification or extinguishment of debt. The Company's management believes that the presentation of EBITDA, Adjusted EBITDA, Adjusted Net Income and Net Leverage Ratio provides useful information to investors because these measures are regularly used by management in assessing the Company's performance. EBITDA, Adjusted EBITDA, Adjusted Net Income and Net Leverage Ratio are financial measures not calculated in accordance with generally accepted accounting principles in the United States ("GAAP"), and are not measures of net income, operating income, operating performance or liquidity presented in accordance with GAAP.

EBITDA, Adjusted EBITDA, Adjusted Net Income and Net Leverage Ratio should be considered in addition to results prepared in accordance with GAAP, but should not be considered substitutes for or superior to GAAP results. In addition, our EBITDA, Adjusted EBITDA, Adjusted Net Income and Net Leverage Ratio may not be comparable to Adjusted EBITDA or similarly titled measures utilized by other companies since such other companies may not calculate such measures in the same manner as we do.


 Three Months Ended


Twelve Months Ended


December 31,


December 31,

In millions, except per share amounts

2014



2013



2014



2013


Net Income Attributable to Graphic Packaging Holding Company

$

41.5



$

46.0



$

89.7



$

146.6


(Subtract) Add:












Net (Loss) Income Attributable to Noncontrolling Interests



(0.7)



(0.7)



0.1


Income Tax Expense (Benefit)

14.5



(3.5)



45.4



67.4


Equity Income of Unconsolidated Entities

(0.4)



(0.3)



(1.7)



(1.5)


Interest Expense, Net

18.7



21.5



80.7



101.9


Depreciation and Amortization

71.2



77.0



283.9



314.2


EBITDA

145.5



140.0



497.3



628.7


Loss (Gain) on Sale of Assets

7.4





180.1



(17.9)


Charges Associated with Business Combinations and Other Special Charges

4.5



18.3



19.0



32.3


Loss on Modification or Extinguishment of Debt

14.4





14.4



27.1


Adjusted EBITDA

$

171.8



$

158.3



$

710.8



$

670.2


























Net Income Attributable to Graphic Packaging Holding Company

$

41.5



$

46.0



$

89.7



$

146.6


Loss (Gain) on Sale of Assets

7.4





180.1



(17.9)


Charges Associated with Business Combinations and Other Special Charges

4.5



18.3



19.0



32.3


Accelerated Depreciation Related to Shutdown







3.5


Loss on Modification or Extinguishment of Debt

14.4





14.4



27.1


Tax Impact on Non-recurring Items

2.3



(5.7)



(65.1)



(10.2)


Adjusted Net Income

$

70.1



$

58.6



$

238.1



$

181.4














Adjusted Earnings Per Share - Basic

$

0.21



$

0.17



$

0.72



$

0.52














Adjusted Earnings Per Share - Diluted

$

0.21



$

0.17



$

0.72



$

0.52















Three Months Ended


Twelve Months Ended


December 31,


December 31,

In millions, except per share amounts

2014



2013



2014



2013


Net Sales

$

1,001.1



$

1,074.9



$

4,240.5



$

4,478.1


Net Sales related to divestitures



(127.3)





(388.1)


Adjusted Net Sales

$

1,001.1



$

947.6



$

4,240.5



$

4,090.0














Adjusted EBITDA Margin (Adjusted EBITDA/Adjusted Net Sales)

17.2

%


16.7

%


16.8

%


16.4

%













 

 

GRAPHIC PACKAGING HOLDING COMPANY

Reconciliation of Non-GAAP Financial Measures

(Continued)




Twelve Months Ended



December 31,



 December 31,



 December 31,


In millions

2014



2013



2012


Net Income Attributable to Graphic Packaging Holding Company

$

89.7



$

146.6



$

122.6


(Subtract) Add:









Net (Loss) Income Attributable to Noncontrolling Interests

(0.7)



0.1



(2.5)


Income Tax Expense

45.4



67.4



82.5


Equity Income of Unconsolidated Entities

(1.7)



(1.5)



(2.3)


Interest Expense, Net

80.7



101.9



111.1


Depreciation and Amortization

283.9



314.2



297.6


EBITDA

497.3



628.7



609.0


Loss (Gain) on Sale or Shutdown of Assets, Net

180.1



(17.9)



3.0


Charges Associated with Business Combinations and Other Special Charges

19.0



32.3



24.4


Loss on Modification or Extinguishment of Debt

14.4



27.1



11.0


Adjusted EBITDA

$

710.8



$

670.2



$

647.4












December 31,



December 31,



 December 31,


Calculation of Net Debt

2014



2013



2012


Short-Term Debt and Current Portion of Long-Term Debt

$

32.2



$

77.4



$

79.8


Long-Term Debt

1,942.1



2,176.2



2,253.5


Less:









Cash and Cash Equivalents

(81.6)



(52.2)



(51.5)


Total Net Debt

$

1,892.7



$

2,201.4



$

2,281.8











Net Leverage Ratio (Net Debt/Adjusted EBITDA)

2.66



3.28



3.52


 

 


GRAPHIC PACKAGING HOLDING COMPANY

Unaudited Supplemental Data




Three Months Ended



March 31,


June 30,


September 30,


December 31,

2014













Net Tons Sold (000's)













Paperboard Packaging


624.2



654.4



679.4



666.1


Flexible Packaging


**



**



**



**















Net Sales ($ Millions):













Paperboard Packaging


$

964.7



$

1,009.1



$

1,050.0



$

1,001.1


Flexible Packaging


108.0



107.6






Total


$

1,072.7



$

1,116.7



$

1,050.0



$

1,001.1















Income (Loss) from Operations ($ Millions):













Paperboard Packaging


$

87.0



$

119.3



$

112.3



$

95.3


Flexible Packaging


(7.3)



(172.2)





(6.6)


Total


$

79.7



$

(52.9)



$

112.3



$

88.7















2013













Net Tons Sold (000's)













Paperboard Packaging


653.1



663.4



683.2



637.7


Flexible Packaging


**



**



**



**















Net Sales ($ Millions):













Paperboard Packaging


$

959.4



$

994.9



$

1,021.2



$

963.5


Flexible Packaging


141.1



144.8



141.8



111.4


Total


$

1,100.5



$

1,139.7



$

1,163.0



$

1,074.9















Income (Loss) from Operations ($ Millions):













Paperboard Packaging


$

91.8



$

91.6



$

99.9



$

70.7


Flexible Packaging


(6.6)



(3.9)



5.8



(7.7)


Total


$

85.2



$

87.7



$

105.7



$

63.0


**   Not meaningful













 

 

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/graphic-packaging-holding-company-reports-strong-fourth-quarter-and-full-year-2014-results-announces-dividend-and-share-repurchase-capital-allocation-plan-300031275.html

SOURCE Graphic Packaging Holding Company

Brad Ankerholz, Graphic Packaging Holding Company, 770-240-7971
Posted Thursday, February 5, 2015 7:30 am EST

 
Graphic Packaging Announces Release Date for Fourth Quarter and Full Year 2014 Earnings

ATLANTA, Jan. 8, 2015 /PRNewswire/ -- Graphic Packaging Holding Company (NYSE: GPK) will release results for fourth quarter and full year 2014 on Thursday, February 5th before the market opens.  The same morning, the company will host a conference call at 10:00 a.m. eastern to discuss fourth quarter and full year results.  To access the live conference call, listeners calling from within North America should dial 800-392-9489 at least 10 minutes prior to the start of the conference call (Conference ID #63098186).  Listeners may also access the audio webcast at the Investor Relations section of the Graphic Packaging website: http://www.graphicpkg.com.  Replays of the call will be available for one week following the completion of the call and can be accessed by dialing 855-859-2056.

About Graphic Packaging Holding Company

Graphic Packaging Holding Company (NYSE: GPK), headquartered in Atlanta, Georgia, is a leading provider of packaging solutions for a wide variety of products to food, beverage and other consumer products companies.  The Company is one of the largest producers of folding cartons and holds a leading market position in coated unbleached kraft and coated recycled board. The Company's customers include some of the most widely recognized companies in the world. Additional information about Graphic Packaging, its business and its products, is available on the Company's website at www.graphicpkg.com.

 

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/graphic-packaging-announces-release-date-for-fourth-quarter-and-full-year-2014-earnings-300017954.html

SOURCE Graphic Packaging Holding Company

Investor Contact: Brad Ankerholz, Graphic Packaging Holding Company, 770-240-7971
Posted Thursday, January 8, 2015 1:00 pm EST

 
Graphic Packaging Holding Company Agrees to Acquire Folding Carton Converting and Paperboard Mill Assets of Cascades' Norampac Division

ATLANTA, Dec. 11, 2014 /PRNewswire/ --

Highlights

  • Enhances Graphic Packaging's integrated folding carton offering in North America
  • Broadens Graphic Packaging's Food, Food Service, Beverage and Consumer packaging solutions in North America
  • Acquisition includes three Canadian folding carton converting facilities, an SBS substitute mill and a CRB mill
  • Purchase price of approximately $39 million based on trailing twelve month sales of approximately $215 million and adjusted EBITDA of approximately $5 million

Graphic Packaging Holding Company (NYSE: GPK), a leading global provider of packaging solutions to food, beverage and other consumer products companies, today announced that its wholly owned subsidiary, Graphic Packaging International, Inc., has agreed to acquire several folding carton converting and paperboard mill assets from Cascades' Norampac Division in Canada.

"The acquisition of Cascades' Norampac paperboard assets enhances our position in North American folding cartons and enables us to extend our customer reach in Canada," said David Scheible, Graphic Packaging's Chairman, President and Chief Executive Officer. "The transaction is a continuation of our acquisition strategy to grow integrated folding carton converting volumes in key geographies and end-markets.  These assets will broaden our customer base and allow us to offer our current customers a wider range of products."

Under the terms of the transaction, the purchase price will be approximately $39 million based on trailing twelve month sales of approximately $215 million and adjusted EBITDA of approximately $5 million. Significant synergies are expected over the next 24 months. The transaction will be funded with existing cash and borrowings from Graphic Packaging's revolving line of credit.  Norampac operates three folding carton converting facilities located in Cobourg, Ontario, Mississauga, Ontario and Winnipeg, Manitoba, along with a Solid Bleached Sulfate (SBS) substitute mill located in Jonquiere, Quebec and a Coated Recycled Board (CRB) mill located in East Angus, Quebec.  The acquisition is subject to standard closing requirements and regulatory review and is expected to close in the first quarter of 2015.

Forward Looking Statements

Any statements of the Company's expectations in this press release constitute "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. Such statements, including but not limited to those regarding the effect of the acquisition on the Company's competitive position, expected synergies and earnings and the timing of the closing, are based on currently available information and are subject to various risks and uncertainties that could cause actual results to differ materially from the Company's present expectations.  These risks and uncertainties include, but are not limited to, the Company's ability to successfully integrate the acquisition and achieve synergies, the timing of regulatory approvals, inflation of and volatility in raw material and energy costs, cutbacks in consumer spending that could affect demand for the Company's products or actions taken by our customers in response to the difficult economic environment, continuing pressure for lower cost products, the Company's ability to implement its business strategies, including productivity initiatives and cost reduction plans, currency movements and other risks of conducting business internationally, volatility in the credit and securities markets and the impact of regulatory and litigation matters, including the continued availability of the Company's net operating loss offset to taxable income, and those that impact the Company's ability to protect and use its intellectual property.  Undue reliance should not be placed on such forward-looking statements, as such statements speak only as of the date on which they are made and the Company undertakes no obligation to update such statements.  Additional information regarding these and other risks is contained in the Company's periodic filings with the SEC.

About Graphic Packaging Holding Company

Graphic Packaging Holding Company (NYSE:GPK), headquartered in Atlanta, Georgia, is a leading provider of packaging solutions for a wide variety of products to food, beverage and other consumer products companies.  The Company is one of the largest producers of folding cartons and holds a leading market position in coated-unbleached kraft and coated-recycled board.  The Company's customers include some of the most widely recognized companies in the world.  Additional information about Graphic Packaging, its business and its products, is available on the Company's web site at www.graphicpkg.com.

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/graphic-packaging-holding-company-agrees-to-acquire-folding-carton-converting-and-paperboard-mill-assets-of-cascades-norampac-division-300008497.html

SOURCE Graphic Packaging Holding Company

Investor Contact: Brad Ankerholz, Graphic Packaging Holding Company, 770-240-7971, Media Contact: Carla Chaney, Graphic Packaging Holding Company, 770-240-7222
Posted Thursday, December 11, 2014 9:15 am EST

 
Graphic Packaging Announces Pricing of Senior Notes Offering

ATLANTA, Oct. 23, 2014 /PRNewswire/ -- Graphic Packaging International, Inc. ("Graphic Packaging"), a wholly-owned subsidiary of Graphic Packaging Holding Company (NYSE: GPK), announced that it has entered into an agreement to sell $250 million aggregate principal amount of its senior unsecured notes due 2022 (the "Senior Notes") in a registered public offering. The Senior Notes will bear interest at an annual rate of 4.875% and will be issued at par. Graphic Packaging expects to close the offering on November 6, 2014, subject to the satisfaction of customary closing conditions.

The Senior Notes will be guaranteed by Graphic Packaging Holding Company and Graphic Packaging Corporation as well as by certain of Graphic Packaging's material domestic subsidiaries which have guaranteed obligations under its senior credit facilities and its existing notes.

Graphic Packaging estimates that the net proceeds from this offering will be approximately $246.4 million, after deducting the underwriters' discount.  The net proceeds from the offering will be used, together with cash on hand and/or additional borrowings, to refinance through a redemption in November 2014 all $250 million aggregate principal amount of Graphic Packaging's 7.875% senior notes due 2018. 

BofA Merrill Lynch, J.P. Morgan, SunTrust Robinson Humphrey, Citigroup, Goldman, Sachs & Co., and Rabo Securities are acting as joint book-running managers for the offering and BBVA Securities Inc., Regions Securities LLC, Mitsubishi UFJ Securities, SMBC Nikko, Fifth Third Securities, TD Securities, PNC Capital Markets LLC, and HSBC Securities are serving as co-managers.

A shelf registration statement (including a prospectus and prospectus supplement) relating to the offering of the Senior Notes has previously been filed with the Securities and Exchange Commission and has become effective. Before investing, you should read the prospectus, the prospectus supplement and other documents filed with the Securities and Exchange Commission for more complete information about Graphic Packaging and the offering of the Senior Notes. Copies of the prospectus and related prospectus supplement may be obtained by contacting any of the joint book running managers whose contact information is listed below. You may also obtain these documents free of charge by visiting the Securities and Exchange Commission's website at www.sec.gov

Joint Book Running Managers: 

BofA Merrill Lynch
222 Broadway
New York, NY 10038
Attention: Prospectus Department
Email: dg.prospectus_requests@baml.com

J.P. Morgan Securities LLC 
Attention: Broadridge Financial Solutions 
1155 Long Island Avenue
Edgewood, New York 11717
Tel: (866) 803-9204

SunTrust Robinson Humphrey 
Attention: High Yield Syndicate
3333 Peachtree Road, 10th Floor
Atlanta, GA 30326
Kevin.dewitt@suntrust.com

Citigroup
c/o Broadridge Financial Solutions
1155 Long Island Avenue
Edgewood, NY 11717
Tel: 1-800-831-9146

Goldman, Sachs & Co.  
Prospectus Department  
200 West Street 
New York, NY 10282 
Telephone: 1-866-471-2526, facsimile: 212-902-9316 
Email: prospectus-ny@ny.email.gs.com

Rabobank International
245 Park Avenue
New York, NY 10167

This press release does not constitute an offer to sell or the solicitation of an offer to buy the notes, nor shall it constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale is unlawful.

About Graphic Packaging International, Inc.

Graphic Packaging International, Inc., a subsidiary of Graphic Packaging Holding Company (NYSE: GPK), headquartered in Atlanta, Georgia, is a leading provider of packaging solutions for a wide variety of products to food, beverage and other consumer products companies. The Company is one of the largest producers of folding cartons and holds a leading market position in coated-unbleached kraft and coated-recycled board. The Company's customers include some of the most widely recognized companies in the world.

Forward-Looking Statements

Any statements of Graphic Packaging's expectations in this press release constitute "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. Such statements, including but not limited to those regarding the offering and the use of proceeds therefrom, are based on currently available information and are subject to various risks and uncertainties that could cause actual results to differ materially from Graphic Packaging's present expectations.  These risks and uncertainties include, but are not limited to, market conditions affecting the offering and the ability of Graphic Packaging to redeem its Senior Notes due 2018.  Undue reliance should not be placed on such forward-looking statements, as such statements speak only as of the date on which they are made and Graphic Packaging undertakes no obligation to update such statements.  Additional information regarding these and other risks is contained in Graphic Packaging Holding Company's filings with the Securities and Exchange Commission.

 

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/graphic-packaging-announces-pricing-of-senior-notes-offering-402159495.html

SOURCE Graphic Packaging International, Inc.

Investor Contact: Brad Ankerholz, Graphic Packaging Holding Company, 770-240-7971
Posted Thursday, October 23, 2014 5:15 pm EDT

 
Graphic Packaging Holding Company Reports Third Quarter 2014 Results

ATLANTA, Oct. 21, 2014 /PRNewswire/ --

Third Quarter Highlights

  • Q3 Net Sales increased $49.3 million or 4.9%, after adjusting for the impact of divested businesses.
  • Q3 Adjusted Earnings per Diluted Share increased to $0.17 versus $0.12 in the prior year period.
  • Q3 Adjusted EBITDA increased to $190.6 million versus $175.2 million in the prior year period.
  • Q3 Adjusted EBITDA margin was 18.2% versus 15.1% in the prior year period.

Graphic Packaging Holding Company (NYSE: GPK), (the "Company"), a leading provider of packaging solutions to food, beverage and other consumer products companies, today reported Net Income for third quarter 2014 of $53.0 million, or $0.16 per share, based upon 330.6 million weighted average diluted shares.  This compares to third quarter 2013 Net Income of $44.5 million, or $0.13 per share, based on 352.2 million weighted average diluted shares.

Including the tax impact, third quarter 2014 Net Income was negatively impacted by $4.5 million of special charges. When adjusting for these charges, Adjusted Net Income for the third quarter of 2014 was $57.5 million, or $0.17 per diluted share compared to third quarter 2013 Adjusted Net Income of $42.9 million or $0.12 per diluted share.

"We reported a record Adjusted EBITDA margin this quarter of just over 18%," said CEO David Scheible. "This represented a three percentage point increase over the third quarter last year.  The significant jump was primarily driven by our decision to exit non-core, lower margin businesses over the last year and to re-focus these resources around our paperboard packaging business.  The divestitures truly transformed us into a pure play, vertically integrated paperboard packaging business."

"We also performed quite well in what continues to be a difficult operating environment, as demand in some of our key end use markets remains sluggish.  Performance was strong across the business, as key operating metrics at both our mills and converting plants were up over last year.  The integration of our acquisitions in Europe is also on target and we are realizing the planned synergies.  Overall, we delivered a solid $22 million net benefit from performance initiatives in the quarter which keeps us on track to achieve our previously guided $60 million of benefits for the full year. We also remain on target to deliver $350 million of net debt reduction from operations in 2014, having achieved approximately $140 million in the third quarter."

Net Sales

Net Sales decreased 9.7% to $1,050.0 million in the third quarter of 2014, compared to $1,163.0 million in the prior year period. Excluding $162.3 million of sales in the prior year period from divested businesses, Net Sales increased $49.3 million or 4.9%. The increase was driven by $28.0 million of improved volume/mix, $19.1 million of higher pricing and $2.2 million of favorable exchange rates.

Given the June 30, 2014 sale of the Company's Multi-wall Bag Business, beginning with the third quarter 2014, the Company will be reporting financial results under a single segment called Paperboard Packaging.

Attached is supplemental data showing Net Tons Sold, Net Sales and Income (Loss) from Operations for the Paperboard Packaging Segment for the first three quarters of 2014 and each quarter of 2013 as reclassified.

EBITDA

EBITDA for third quarter 2014 was $182.3 million, or $6.5 million lower than the third quarter of last year.  When adjusting for special charges, Adjusted EBITDA increased 8.8% to $190.6 million in third quarter 2014 from $175.2 million in third quarter 2013.  When comparing against the prior year quarter, Adjusted EBITDA in the third quarter of 2014 was positively impacted by $22.3 million of improved net operating performance, $19.1 million of higher pricing and $2.4 million of favorable exchange rates.  These benefits were offset by $15.6 million of commodity inflation, $12.6 million in higher labor and benefit costs and $0.2 million of unfavorable volume/mix.

Other Results

Total Net Debt at the end of third quarter 2014 was $2,024.0 million, $177.4 million lower than at the end of 2013.  The Company's September 30, 2014 Net Leverage Ratio dropped to 2.90 times Adjusted EBITDA from 3.23 times Adjusted EBITDA at the end of the third quarter of 2013.  At September 30, 2014, the Company had available domestic liquidity of $877.1 million, including the undrawn availability under its $1.0 billion U.S. revolving credit facility.

Net Interest Expense was $20.4 million in the third quarter of 2014, compared to $23.5 million in the third quarter of 2013. The decrease was primarily attributable to lower debt levels.

Capital expenditures were $42.5 million in the third quarter of 2014, compared to $68.6 million in the third quarter of 2013.  The difference in the quarter was due to the timing of expenditures as capital expenditures through the first 9 months of 2014 were $151.4 million compared to $153.2 million over the same period last year.

Income Tax Expense was $39.3 million in the third quarter of 2014 compared to $35.8 million in the third quarter of 2013.  As of September 30, 2014, the Company had approximately $811 million of Net Operating Losses (NOLs) for U.S. federal cash income tax purposes, which may be used to offset future taxable income.

Please note that a tabular reconciliation of Adjusted Net Sales, EBITDA, Adjusted EBITDA, Adjusted Net Income and Total Net Debt is attached to this release.

Earnings Call

The Company will host a conference call at 9:00 am eastern time today (October 21, 2014) to discuss results of third quarter 2014.  To access the conference call, listeners calling from within North America should dial 800-392-9489 at least 10 minutes prior to the start of the conference call (Conference ID #11225690).  Listeners may also access the audio webcast, along with a slide presentation, at the Graphic Packaging website: http://www.graphicpkg.com in the Investors section.  Replays of the call can be accessed for one week by dialing 855-859-2056.

Forward Looking Statements

Any statements of the Company's expectations in this press release constitute "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. Such statements, including but not limited to, anticipated performance improvements  and the use of net operating losses to offset future taxable income are based on currently available information and are subject to various risks and uncertainties that could cause actual results to differ materially from the Company's present expectations.  These risks and uncertainties include, but are not limited to, cutbacks in consumer spending that could affect demand for the Company's products or actions taken by our customers in response to the difficult economic environment, the Company's ability to implement its business strategies,  and other risks of conducting business internationally, and the impact of regulatory and litigation matters, including the continued availability of the Company's net operating loss offset to taxable income.  Undue reliance should not be placed on such forward-looking statements, as such statements speak only as of the date on which they are made and the Company undertakes no obligation to update such statements.  Additional information regarding these and other risks is contained in the Company's periodic filings with the SEC.

About Graphic Packaging Holding Company

Graphic Packaging Holding Company (NYSE: GPK), headquartered in Atlanta, Georgia, is a leading provider of packaging solutions for a wide variety of products to food, beverage and other consumer products companies.  The Company is one of the largest producers of folding cartons and holds a leading market position in coated-unbleached kraft and coated-recycled board.  The Company's customers include some of the most widely recognized companies in the world.  Additional information about Graphic Packaging, its business and its products, is available on the Company's web site at www.graphicpkg.com.

 

 

GRAPHIC PACKAGING HOLDING COMPANY

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(Unaudited)



Three Months Ended


Nine Months Ended


September 30,


September 30,

In millions, except per share amounts

2014


2013


2014


2013

Net Sales

$

1,050.0



$

1,163.0



$

3,239.4



$

3,403.2


Cost of Sales

847.6



982.3



2,636.9



2,851.0


Selling, General and Administrative

83.6



93.8



279.0



290.0


Other Income, Net

(0.3)



(4.0)



(1.3)



(11.3)


Restructuring and Other Special Charges (Credits)

6.8



(14.8)



185.7



(5.1)


Income from Operations

112.3



105.7



139.1



278.6


Interest Expense, Net

(20.4)



(23.5)



(62.0)



(80.4)


Loss on Modification or Extinguishment of Debt



(1.2)





(27.1)


Income before Income Taxes and Equity Income of Unconsolidated Entities

91.9



81.0



77.1



171.1


Income Tax Expense

(39.3)



(35.8)



(30.9)



(70.9)


Income before Equity Income of Unconsolidated Entities

52.6



45.2



46.2



100.2


Equity Income of Unconsolidated Entities

0.4



0.5



1.3



1.2


Net Income

53.0



45.7



47.5



101.4


Net (Income) Loss Attributable to Noncontrolling Interests



(1.2)



0.7



(0.8)


Net Income Attributable to Graphic Packaging Holding Company

$

53.0



$

44.5



$

48.2



$

100.6














Net Income Per Share Attributable to Graphic Packaging Holding Company —  Basic

$

0.16



$

0.13



$

0.15



$

0.29


Net Income Per Share Attributable to Graphic Packaging Holding Company —  Diluted

$

0.16



$

0.13



$

0.15



$

0.29














Weighted Average Number of Shares Outstanding - Basic

328.9



350.5



328.4



349.5


Weighted Average Number of Shares Outstanding - Diluted

330.6



352.2



330.4



351.3


 

 


GRAPHIC PACKAGING HOLDING COMPANY

CONDENSED CONSOLIDATED BALANCE SHEETS

(Unaudited)


In millions, except share and per share amounts

September 30,
2014


December 31,
2013







ASSETS












Current Assets:






Cash and Cash Equivalents

$

55.2



$

52.2


Receivables, Net

497.7



412.8


Inventories, Net

532.0



557.1


Deferred Income Tax Assets

172.0



171.3


Other Current Assets

32.7



32.2


Assets Held for Sale

9.5



6.6


Total Current Assets

1,299.1



1,232.2


Property, Plant and Equipment, Net

1,545.4



1,678.9


Goodwill

1,121.5



1,125.4


Intangible Assets, Net

401.0



467.0


Other Assets

63.6



55.8


Total Assets

$

4,430.6



$

4,559.3








LIABILITIES












Current Liabilities:






Short-Term Debt and Current Portion of Long-Term Debt

$

68.0



$

77.4


Accounts Payable

422.1



428.3


Other Accrued Liabilities

216.2



205.5


Total Current Liabilities

706.3



711.2


Long-Term Debt

2,011.2



2,176.2


Deferred Income Tax Liabilities

359.1



329.9


Other Noncurrent Liabilities

255.7



268.4








Redeemable Noncontrolling Interests



11.3








SHAREHOLDERS' EQUITY












Preferred Stock, par value $.01 per share; 100,000,000 shares authorized; no shares issued or outstanding




Common Stock, par value $.01 per share; 1,000,000,000 shares authorized; 327,029,475 and 324,746,642 shares issued and outstanding at September 30, 2014 and December 31, 2013, respectively

3.3



3.2


Capital in Excess of Par Value

1,792.4



1,789.9


Accumulated Deficit

(494.4)



(542.6)


Accumulated Other Comprehensive Loss

(203.0)



(188.2)


Total Shareholders' Equity

1,098.3



1,062.3


Total Liabilities and Shareholders' Equity

$

4,430.6



$

4,559.3


 

 


GRAPHIC PACKAGING HOLDING COMPANY

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited)



Nine Months Ended


September 30,

In millions

2014


2013

CASH FLOWS FROM OPERATING ACTIVITIES:






Net Income

$

47.5



$

101.4


Non-cash Items Included in Net Income:






Depreciation and Amortization

202.2



208.5


Deferred Income Taxes

28.8



61.0


Amount of Postretirement Expense Less Than Funding

(13.9)



(0.8)


Loss (Gain) on the Sale of Assets

170.4



(26.6)


Other, Net

29.3



25.0


Changes in Operating Assets and Liabilities

(133.1)



(99.0)


Net Cash Provided by Operating Activities

331.2



269.5








CASH FLOWS FROM INVESTING ACTIVITIES:






Capital Spending

(151.4)



(153.2)


Proceeds from Government Grant

26.9




Acquisition of Business

(190.7)




Cash Acquired Related to Acquisition

16.9




Proceeds Received from the Sale of Assets, Net of Selling Costs

167.4



64.6


Other, Net

(4.4)



(7.3)


Net Cash Used in Investing Activities

(135.3)



(95.9)








CASH FLOWS FROM FINANCING ACTIVITIES:






Proceeds from Issuance or Modification of Debt



425.0


Retirement of Long-Term Debt



(425.0)


Payments on Debt

(46.1)



(56.0)


Borrowings under Revolving Credit Facilities

949.3



1,373.5


Payments on Revolving Credit Facilities

(1,068.6)



(1,418.7)


Redemption and Debt Issuance Costs



(29.9)


Repurchase of Common Stock related to Share-Based Payments

(14.7)



(11.2)


Other, Net

(10.2)



10.8


Net Cash Used in Financing Activities

(190.3)



(131.5)








Effect of Exchange Rate Changes on Cash

(2.6)



(1.6)








Net Increase in Cash and Cash Equivalents

3.0



40.5


Cash and Cash Equivalents at Beginning of Period

52.2



51.5


CASH AND CASH EQUIVALENTS AT END OF PERIOD

$

55.2



$

92.0


 

 

Reconciliation of Non-GAAP Financial Measures

The tables below set forth the calculation of the Company's earnings before interest expense, income tax expense, equity income of unconsolidated entities, depreciation and amortization ("EBITDA"), Adjusted EBITDA, Adjusted Net Income, Net Leverage Ratio and Total Net Debt. Adjusted EBITDA and Adjusted Net Income exclude charges associated with: the Company's business combinations, sale or shutdown of assets, other special (credits) charges and the modification or extinguishment of debt. The Company's management believes that the presentation of EBITDA, Adjusted EBITDA, Adjusted Net Income and Net Leverage Ratio provides useful information to investors because these measures are regularly used by management in assessing the Company's performance. EBITDA, Adjusted EBITDA, Adjusted Net Income and Net Leverage Ratio are financial measures not calculated in accordance with generally accepted accounting principles in the United States ("GAAP"), and are not measures of net income, operating income, operating performance or liquidity presented in accordance with GAAP.

EBITDA, Adjusted EBITDA, Adjusted Net Income and Net Leverage Ratio should be considered in addition to results prepared in accordance with GAAP, but should not be considered substitutes for or superior to GAAP results. In addition, our EBITDA, Adjusted EBITDA, Adjusted Net Income and Net Leverage Ratio may not be comparable to Adjusted EBITDA or similarly titled measures utilized by other companies since such other companies may not calculate such measures in the same manner as we do.


 Three Months Ended


Nine Months Ended


September 30,


September 30,

In millions, except per share amounts

2014



2013



2014



2013


Net Income Attributable to Graphic Packaging Holding Company

$

53.0



$

44.5



$

48.2



$

100.6


(Subtract) Add:












Net Loss (Income) Attributable to Noncontrolling Interests



1.2



(0.7)



0.8


Income Tax Expense

39.3



35.8



30.9



70.9


Equity Income of Unconsolidated Entities

(0.4)



(0.5)



(1.3)



(1.2)


Interest Expense, Net

20.4



23.5



62.0



80.4


Depreciation and Amortization

70.0



84.3



212.7



237.2


EBITDA

182.3



188.8



351.8



488.7


Loss (Gain) on Sale of Assets

0.3



(20.2)



170.7



(19.0)


Charges Associated with Business Combinations and Other Special Charges

8.0



5.4



16.5



15.1


Loss on Modification or Extinguishment of Debt



1.2





27.1


Adjusted EBITDA

$

190.6



$

175.2



$

539.0



$

511.9


























Net Income Attributable to Graphic Packaging Holding Company

$

53.0



$

44.5



$

48.2



$

100.6


Loss (Gain) on Sale of Assets

0.3



(17.6)



170.7



(16.6)


Charges Associated with Business Combinations and Other Special Charges

8.0



5.4



16.5



12.7


Accelerated Depreciation Related to Shutdown



3.5





3.5


Loss on Modification or Extinguishment of Debt



1.2





27.1


Tax Impact of Non-recurring Items

(3.8)



5.9



(67.4)



(4.5)


Adjusted Net Income

$

57.5



$

42.9



$

168.0



$

122.8














Adjusted Earnings Per Share – Basic

$

0.17



$

0.12



$

0.51



$

0.35


Adjusted Earnings Per Share – Diluted

$

0.17



$

0.12



$

0.51



$

0.35



























Three Months Ended










September 30,

  In millions, except per share amounts









2014



2013


Net Sales









$

1,050.0



$

1,163.0


Net Sales related to divestitures













(162.3)


Adjusted Net Sales









$

1,050.0



$

1,000.7


















Adjusted EBITDA Margin (Adjusted EBITDA/Net Sales)










18.2

%



15.1

%

 

 

GRAPHIC PACKAGING HOLDING COMPANY

Reconciliation of Non-GAAP Financial Measures

(Continued)



Twelve Months Ended


September 30,


September 30,


 December 31,

In millions

2014



2013



2013


Net Income Attributable to Graphic Packaging Holding Company

$

94.2



$

123.5



$

146.6


(Subtract) Add:









Net (Loss) Income Attributable to Noncontrolling Interests

(1.4)



0.4



0.1


Income Tax Expense

27.4



84.8



67.4


Equity Income of Unconsolidated Entities

(1.6)



(1.9)



(1.5)


Interest Expense, Net

83.5



105.9



101.9


Depreciation and Amortization

289.7



309.8



314.2


EBITDA

491.8



622.5



628.7


Charges Associated with Business Combination

26.3



26.3



30.5


Loss (Gain) on Sale or Shutdown of Assets, Net

171.8



(19.0)



(17.9)


Restructuring and Other Special Charges

7.4



3.1



1.8


Loss on Modification or Extinguishment of Debt



29.2



27.1


Adjusted EBITDA

$

697.3



$

662.1



$

670.2












September 30,


September 30,


 December 31,

Calculation of Net Debt:

2014



2013



2013


Short-Term Debt and Current Portion of Long-Term Debt

$

68.0



$

83.9



$

77.4


Long-Term Debt

2,011.2



2,148.9



2,176.2


Less:









Cash and Cash Equivalents

(55.2)



(92.0)



(52.2)


Total Net Debt

$

2,024.0



$

2,140.8



$

2,201.4











Net Leverage Ratio (Net Debt/Adjusted EBITDA)

2.90



3.23



3.28


 

 


GRAPHIC PACKAGING HOLDING COMPANY

Unaudited Supplemental Data




Three Months Ended



March 31,


June 30,


September 30,


December 31,

2014













Net Tons Sold (000's)













Paperboard Packaging


624.2



654.4



679.4





Flexible Packaging


          **


          **


          **

















Net Sales ($ Millions):













Paperboard Packaging


$

964.7



$

1,009.1



$

1,050.0





Flexible Packaging


108.0



107.6







Total


$

1,072.7



$

1,116.7



$

1,050.0


















Income (Loss) from Operations ($ Millions):













Paperboard Packaging


$

87.0



$

119.3



$

112.3





Flexible Packaging


(7.3)



(172.2)







Total


$

79.7



$

(52.9)



$

112.3


















2013













Net Tons Sold (000's)













Paperboard Packaging


653.1



663.9



683.2



637.7


Flexible Packaging


          **


          **


          **


          **














Net Sales ($ Millions):













Paperboard Packaging


$

959.4



$

994.9



$

1,021.2



$

963.5


Flexible Packaging


141.1



144.8



141.8



111.4


Total


$

1,100.5



$

1,139.7



$

1,163.0



$

1,074.9















Income (Loss) from Operations ($ Millions):













Paperboard Packaging


$

91.8



$

91.6



$

99.9



$

70.7


Flexible Packaging


(6.6)



(3.9)



5.8



(7.7)


Total


$

85.2



$

87.7



$

105.7



$

63.0


**   Not meaningful













 

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/graphic-packaging-holding-company-reports-third-quarter-2014-results-696870321.html

SOURCE Graphic Packaging Holding Company

Investor Contact: Brad Ankerholz, Graphic Packaging Holding Company, 770-240-7971
Posted Tuesday, October 21, 2014 7:30 am EDT

 
Graphic Packaging Holding Company Announces Michael Ukropina as SVP-Consumer Packaging Division

ATLANTA, Oct. 1, 2014 /PRNewswire/ -- Graphic Packaging Holding Company has appointed Michael Ukropina to the role of Senior Vice President – Consumer Packaging Division.  Ukropina joined Graphic Packaging earlier this year and has been actively engaged in the development of the long term strategy. 

"Mike brings over 20 years of packaging-related experience, strong customer focus, and a global understanding of our industry," said Mike Doss, Chief Operating Officer.   "His deep expertise and leadership have been an excellent addition to our team, and we are excited about his appointment into this key senior leadership role."

About Graphic Packaging Holding Company

Graphic Packaging Holding Company (NYSE: GPK), headquartered in Atlanta, Georgia, is a leading provider of packaging solutions for a wide variety of products to food, beverage and other consumer products companies.  The Company is one of the largest producers of folding cartons and holds a leading market position in coated-unbleached kraft, coated-recycled boxboard, and specialty packaging. The Company's customers include some of the most widely recognized companies in the world. Additional information about Graphic Packaging, its business and its products, is available on the Company's web site at www.graphicpkg.com.


SOURCE Graphic Packaging Holding Company

Investor Contact: Brad Ankerholz, Graphic Packaging Holding Company, 770-240-7971 or Media Contact: Carla Chaney, Graphic Packaging Holding Company, 770-240-7222
Posted Wednesday, October 1, 2014 12:00 pm EDT

 
Graphic Packaging Holding Company CFO Daniel Blount to Retire

Stephen Scherger To Be Named CFO Effective January 1, 2015

ATLANTA, Oct. 1, 2014 /PRNewswire/ -- Graphic Packaging Holding Company today announced that Chief Financial Officer Daniel Blount has elected to retire on March 1, 2015, after 16 years of dedicated service with the Company.

"Dan has been a valuable and strategic member of the leadership team.  The Company has significantly benefited from his leadership related to capital markets, cash management, acquisitions and divestitures," said David Scheible, Chairman, President and Chief Executive Officer.  "He has been a great partner through the years and his experience and expertise will be missed.  We wish him all the best as he moves into retirement."    

Stephen Scherger, previously Senior Vice President - Consumer Packaging Division, has been named Senior Vice President – Finance, effective October 1, 2014, as part of the Company's succession plan.  Scherger will be appointed Chief Financial Officer effective January 1, 2015.   Blount will remain as Special Advisor until March 1, 2015.

Scherger has over two decades of global packaging experience including numerous general management, financial and strategy roles.   "Steve's business and financial leadership, including responsibility for the Company's largest operating business unit since April 2012, have uniquely positioned him to be our Chief Financial Officer," added Scheible.  "His combination of skills will strongly complement our growth agenda, and we welcome him in to this critical role."

Forward Looking Statements

Any statements of the Company's expectations in this press release constitute "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. Such statements, including but not limited to those regarding Mr. Blount's retirement and Mr. Scherger's assumption of the position of Chief Financial Officer in 2015 are based on currently available information.   Undue reliance should not be placed on such forward-looking statements, as such statements speak only as of the date on which they are made and the Company undertakes no obligation to update such statements.  Additional information regarding these and other risks is contained in the Company's periodic filings with the SEC.

About Graphic Packaging Holding Company

Graphic Packaging Holding Company (NYSE: GPK), headquartered in Atlanta, Georgia, is a leading provider of packaging solutions for a wide variety of products to food, beverage and other consumer products companies.  The Company is one of the largest producers of folding cartons and holds a leading market position in coated-unbleached kraft, coated-recycled boxboard, and specialty packaging. The Company's customers include some of the most widely recognized companies in the world. Additional information about Graphic Packaging, its business and its products, is available on the Company's web site at www.graphicpkg.com.

 

SOURCE Graphic Packaging Holding Company

Investor Contact: Brad Ankerholz, Graphic Packaging Holding Company, 770-240-7971 or Media Contact: Carla Chaney, Graphic Packaging Holding Company, 770-240-7222
Posted Wednesday, October 1, 2014 12:00 pm EDT

 
 Kapstone
( Last updated Wednesday, April 1, 2015 8:06 pm EDT)
KapStone Paper And Packaging Announces Cash Dividend
NORTHBROOK, Ill., March 11, 2015 /PRNewswire/ -- KapStone Paper and Packaging Corporation (NYSE: KS)  ("the Company") today announced that its Board of Directors has approved a regular quarterly dividend of $0.10 per share payable on April 13, 2015 to shareholders of record as of March 30, 2015.  Future declarations of quarterly dividends and the establishment of future record and payment dates are subject to the determination of the Company's Board of Directors. About the Company Headquartered in Northbrook, IL, KapStone Paper and Packaging Corporation is the fifth largest producer of containerboard and corrugated packaging products and is the largest kraft paper producer in the Unite... Posted Wednesday, March 11, 2015 4:04 pm EDT

 
KapStone Reports Fourth Quarter And Record Full Year Results
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KapStone Paper And Packaging To Release Fourth Quarter And Year-End Earnings On Monday, February 9, 2015
NORTHBROOK, Ill., Jan. 7, 2015 /PRNewswire/ -- KapStone Paper and Packaging Corporation (NYSE: KS) ("KapStone" or "the Company") will release its 2014 fourth quarter and year-end earnings on Monday, February 9, after the market closes. The Company will host a conference call on Tuesday, February 10 at 11:00 a.m. ET (10:00 a.m. CT) to review the results for the quarter and the year.  All interested parties are invited to listen and may do so by either accessing a simultaneous broadcast webcast on KapStone's website, http://www.kapstonepaper.com, or for those unable to access the webcast, the following dial-in numbers are available: Domestic:  866.318.8616 International:  617.399.5135 Pa... Posted Wednesday, January 7, 2015 7:06 pm EST

 
KapStone Paper And Packaging Announces Initiation Of Cash Dividend Program
NORTHBROOK, Ill., Dec. 16, 2014 /PRNewswire/ -- KapStone Paper and Packaging Corporation (NYSE: KS) ("KapStone" or "the Company") today announced that its Board of Directors has approved the initiation of a regular quarterly dividend of $0.10 per share. Roger Stone, chairman of the board of directors and chief executive officer, commented, "After the successful Longview Fibre acquisition and subsequent debt reduction, management and the board of directors believe that it is financially prudent to return capital to our shareholders in the form of a regular dividend." Stone added, "Our dividend is sized to keep KapStone well-positioned to fund future acquisitions and internal investment pr... Posted Tuesday, December 16, 2014 4:05 pm EST

 
KapStone's Charleston Mill Efficiency Plans
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Roger Stone Honored With RISI's First Lifetime Achievement Award
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KapStone Reports Record Third Quarter Results
NORTHBROOK, Ill., Oct. 29, 2014 /PRNewswire/ -- KapStone Paper and Packaging Corporation (NYSE:KS) today reported record results for the third quarter ended September 30, 2014. As compared to 2013's third quarter, results for 2014's third quarter are below: Net sales of $598 million up $59 million, or 11 percent Net income of $54 million up $10 million, or 22 percent Adjusted EBITDA of $132 million up $15 million, or 13 percent Adjusted EBITDA margin of 22.0 percent, up from 21.7 percent Diluted EPS of $0.56 up $0.10 per share, or 22 percent Adjusted diluted EPS of $0.60 up $0.08 per share, or 15 percent Roger W. Stone, Chairman and Chief Executive Officer, stated, "KapS... Posted Wednesday, October 29, 2014 4:15 pm EDT

 
KapStone Paper And Packaging To Release Third Quarter Earnings On Wednesday, October 29, 2014
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 McGraw Hill
( Last updated Wednesday, April 1, 2015 8:06 pm EDT)
McGraw Hill Financial's Annual Shareholders Meeting Accessible by Internet and Telephone - 11 a.m. EDT, Wednesday, April 29, 2015
NEW YORK, March 18, 2015 /PRNewswire/ -- McGraw Hill Financial's (NYSE: MHFI) 2015 Annual Shareholders Meeting is scheduled for Wednesday, April 29, 2015, at 11 a.m. Eastern Daylight Time. Presenting at the meeting will be Chairman Harold McGraw III and Douglas L. Peterson, President and Chief Executive Officer. The discussion may include forward-looking information.The slides and remarks will be available for downloading from the Company's Investor Relations website under the Investor Presentations link later that day at http://investor.mhfi.com. Shareholders who wish to attend the Annual Meeting are asked to bring their admission ticket or a brokerage account statement, as well ... Posted Wednesday, March 18, 2015 12:00 pm EDT

 
McGraw Hill Financial to Present at the Piper Jaffray Technology, Media & Telecommunications Conference on March 10
Presentation will be Webcast / Updated Time NEW YORK, March 10, 2015 /PRNewswire/ -- Jack Callahan, Executive Vice President and Chief Financial Officer of McGraw Hill Financial (NYSE: MHFI), will present at the Piper Jaffray Technology, Media & Telecommunications Conference today in New York. Mr. Callahan is scheduled to speak from 3:30 p.m. to 4:00 p.m. Eastern Daylight Time (updated from an original time of 3:00 p.m. to 3:30 p.m.). The "fireside chat" will be webcast (audio only) and may include forward-looking information. Webcast Instructions:  Live and Replay The webcast and slides will be available live and in replay through the Company's Investor Relations we... Posted Tuesday, March 10, 2015 2:53 pm EDT

 
Harold McGraw III to Become Chairman Emeritus of McGraw Hill Financial
Charles E. Haldeman to be named Chairman of the Board following the Company's Annual Meeting on April 29, 2015 NEW YORK, Feb. 25, 2015 /PRNewswire/ -- The Board of Directors of McGraw Hill Financial (NYSE: MHFI) today announced that Harold ("Terry") McGraw III informed the Board of his decision not to stand for re-election as a director at the Annual Meeting of Shareholders scheduled to take place on April 29, 2015. In recognition of Mr. McGraw's many significant contributions to McGraw Hill Financial, the Board of Directors will confer upon him the honorary title of "Chairman Emeritus" when he retires on April 29. Mr. McGraw has been non-executive Chairman of the Board sinc... Posted Wednesday, February 25, 2015 4:30 pm EST

 
McGraw Hill Financial to Present at the Raymond James 36th Annual Institutional Investors Conference on March 2
Presentation will be Webcast NEW YORK, Feb. 23, 2015 /PRNewswire/ -- Douglas L. Peterson, President and CEO of McGraw Hill Financial (NYSE: MHFI), will present at the Raymond James 36th Annual Institutional Investors Conference on March 2 in Florida. Mr. Peterson is scheduled to speak from 10:25 a.m. to 10:55 a.m. Eastern Time. The presentation will be webcast and may include forward-looking information. Webcast Instructions:  Live and Replay The webcast and slides will be available live and in replay through the Company's Investor Relations website http://investor.mhfi.com/phoenix.zhtml?c=96562&p=irol-EventDetails&EventId=5185978 (please copy and paste URL into ... Posted Monday, February 23, 2015 2:30 pm EST

 
McGraw Hill Financial Reports 4th Quarter And Full-Year 2014 Results
Related links: Dividend History The Company Delivered Strong Revenue from Continuing Operations in Both 4th Quarter and Full-Year 2014 4th Quarter and Full-Year Revenue Each Increased 7% As a Result of Recent Legal and Regulatory Settlements, Diluted EPS from Continuing Operations Decreased to $(3.71) in the 4th Quarter and Decreased to $(1.08) for the Full Year Adjusted Diluted EPS from Continuing Operations Increased 23% to $0.95 in 4th Quarter and 20% to $3.88 for the Full Year Introduces 2015 Adjusted Diluted EPS Guidance of $4.35 to $4.45 The Company Declares New Annualized Dividend of $1.32 Per Share NEW YORK, Feb. 12, 2015 /PRNewswire/ -- McGraw Hill Financial, ... Posted Thursday, February 12, 2015 7:10 am EST

 
McGraw Hill Financial Schedules 4th Quarter and Full-Year 2014 Earnings Announcement/Conference Call for Thursday, February 12, 2015
NEW YORK, Feb. 3, 2015 /PRNewswire/ -- McGraw Hill Financial (NYSE: MHFI) announced today that its fourth quarter and full-year 2014 results will be issued on Thursday, February 12, 2015, via news release at approximately 7:15 a.m. Eastern Time. The news release will be available at www.mhfi.com. Douglas L. Peterson, President and CEO; Jack Callahan, Executive Vice President and CFO; and Chip Merritt, Vice President, Investor Relations, will host a conference call/webcast at 8:30 a.m. Eastern Time on February 12, 2015, to discuss the fourth quarter and full-year 2014 results. The presentation is open to all interested parties and may include forward-looking information. Webcast Instru... Posted Tuesday, February 3, 2015 8:13 am EST

 
McGraw Hill Financial And S&P Ratings Reach Settlements With DOJ, Attorneys General Of 19 States And District Of Columbia And With CalPERS
NEW YORK, Feb. 3, 2015 /PRNewswire/ -- McGraw Hill Financial, Inc. (NYSE: MHFI) (the "Company") today announced that it and its subsidiary Standard & Poor's Financial Services LLC ("S&P Financial Services"), which houses the Company's business unit Standard & Poor's Ratings Services ("S&P Ratings"), have reached a settlement with the U.S. Department of Justice ("DOJ") which fully resolves the DOJ's February 2013 lawsuit regarding ratings issued and surveilled by S&P Ratings in the 2004-2007 time period relating to certain U.S. residential mortgage-backed securities and U.S. collateralized debt obligations. The settlement also resolves the lawsuits filed by the Attorneys General of 19 St... Posted Tuesday, February 3, 2015 8:01 am EST

 
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NEW YORK, January 21, 2015 – Standard & Poor’s Ratings Services (S&P Ratings), a business unit of McGraw Hill Financial, Inc. (NYSE: MHFI), today announced it has reached a settlement with the U.S. Securities and Exchange Commission (SEC) to resolve the SEC’s investigation into six U.S. conduit/fusion commercial mortgage-backed securities (CMBS) transactions rated by S&P Ratings in 2011 and two additional U.S. conduit/fusion CMBS transactions from that period, the subject of a Wells Notice received and disclosed by S&P Ratings in July 2014. S&P Ratings also reached settlements with the Attorneys General of New York and Massachusetts to resolve investigations into the same matters. In addit... Posted Wednesday, January 21, 2015 9:10 am EST

 
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( Last updated Wednesday, April 1, 2015 8:06 pm EDT)
Mercer International Inc. Reports Strong 2014 Fourth Quarter and Year End Results
Posted Thursday, February 12, 2015 3:00 am EST

 
Mercer International Inc. Announces Conference Call For Fourth Quarter And Fiscal Year End 2014 Results
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CIBC 18th Annual Whistler Institutional Investor Conference
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XBRL - Schema Document
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 Neenah Paper
( Last updated Wednesday, April 1, 2015 8:06 pm EDT)
Neenah Elects Margaret Dano as New Director

ALPHARETTA, Ga., March 25, 2015 /PRNewswire/ -- Neenah Paper, Inc. (NYSE: NP) announced today, that on March 24, 2015 its Board of Directors elected Ms. Margaret S. Dano to serve as a director, replacing Dr. Mary Ann Leeper , whose retirement from the Board was announced earlier this year. The election of Ms. Dano is effective immediately and she will serve on the Company's Nominating and Corporate Governance Committee, effective on May 20, 2015. 

Ms. Dano has previously held senior leadership positions overseeing global supply chain operations for Honeywell Corporation and Avery Dennison Corporation, as well as serving as Vice President of Corporate Manufacturing & Engineering for Avery. Currently, Ms. Dano is Chairman of the Board for Superior Industries International, Inc. and is also a board member of Douglas Dynamics, Inc. 

"We are pleased to have Margaret Dano as our newest Board member," said John O'Donnell , Chief Executive Officer. "Margaret's senior executive experience in global manufacturing and supply chain, as well as her public board experience and leadership with manufacturing companies, will contribute to our Board's record of guidance and support for actions that can consistently increase value for our shareholders."   

About Neenah Paper, Inc.  

Neenah is a leader in premium image and performance-based products, including filtration, specialized substrates used for tapes, labels and other products, and high-end printing papers. Products are marketed under well-known brands such as CLASSIC®, ASTROBRIGHTS®, ENVIRONMENT®, CRANE®, ROYAL SUNDANCE®, SOUTHWORTH® KIMDURA®, Gessner®, CRANEMAT™, CRANEGLAS™, JET-PRO® SofStretch™ and varitess®. Neenah is headquartered in Alpharetta, Georgia and its products are sold in over 70 countries worldwide from manufacturing operations in the United States and Germany. Additional information can be found at the company's web site, www.neenah.com.

Neenah

Logo - http://photos.prnewswire.com/prnh/20140507/85487

Contact: Neenah Paper, Inc.
Bill McCarthy
Vice President – Financial Analysis and Investor Relations
678-518-3278

 

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/neenah-elects-margaret-dano-as-new-director-300056156.html

SOURCE Neenah Paper, Inc.

Posted Wednesday, March 25, 2015 4:30 pm EDT

 
Neenah Paper to Present in New York City at Sidoti Investor Forum on March 17, 2015

ALPHARETTA, Ga., March 3, 2015 /PRNewswire/ -- Neenah Paper, Inc. (NYSE: NP) announced today that the Company will be presenting at the Sidoti & Company 19th Annual Emerging Growth Institutional Investor Forum at the Grand Hyatt Hotel, New York. John O'Donnell, President and Chief Executive Officer, and Bonnie Lind, Senior Vice President, Chief Financial Officer and Treasurer, will be speaking at the event at 10:00 a.m. EDT on Tuesday, March 17, 2015 and will be available for separate one-on-one meetings.

Neenah

A copy of the presentation will be available on Neenah Paper's web site (www.neenah.com) under the Investor Relations – Events/Presentations section.

About Neenah Paper, Inc.

Neenah is a leader in premium image and performance-based products, including filtration, specialized substrates used for tapes, labels and other products, and high-end printing papers. Products are marketed under well-known brands such as CLASSIC®, ASTROBRIGHTS®, ENVIRONMENT®, CRANE®, ROYAL SUNDANCE®, SOUTHWORTH® KIMDURA®, Gessner®, CRANEMAT™, CRANEGLAS™, JET-PRO® SofStretch™ and varitess®. Neenah is headquartered in Alpharetta, Georgia and its products are sold in over 70 countries worldwide from manufacturing operations in the United States and Germany. Additional information can be found at the company's web site, www.neenah.com.

Contact: Neenah Paper, Inc.
              Bill McCarthy
              Vice President – Financial Analysis and Investor Relations
              678-518-3278

Logo - http://photos.prnewswire.com/prnh/20140507/85487

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/neenah-paper-to-present-in-new-york-city-at-sidoti-investor-forum-on-march-17-2015-300044849.html

SOURCE Neenah Paper, Inc.

Posted Tuesday, March 3, 2015 4:30 pm EST

 
Neenah Paper Reports 2014 Fourth Quarter and Full Year Results

Quarterly sales increase 6% with adjusted E.P.S. of $0.75
Full year sales grow 7% with adjusted E.P.S. up 12% to $3.28

ALPHARETTA, Ga., Feb. 17, 2015 /PRNewswire/ -- Neenah Paper, Inc. (NYSE: NP) today reported 2014 fourth quarter and full-year results. 

Fourth Quarter Highlights

  • Fourth quarter sales of $216.6 million increased 6 percent compared with the prior year.
  • Fourth quarter earnings per diluted share of $1.57 were up from $0.78 in the prior year, while adjusted earnings per share of $0.75 compared with $0.78. Adjusted earnings in 2014 excluded $1.00 for prior period tax credits, $0.13 for a pension settlement charge, and $0.05 for costs of restructuring, integration and extinguished debt.
  • An expanded annual maintenance down was completed at the German filtration plant, increasing capabilities and capacity of one of the manufacturing lines. In the previous year, this down occurred in the third quarter.
  • A new global revolving credit facility was implemented, increasing borrowing capacity and providing additional financing flexibility at a lower cost.
  • A dividend increase of 11% was announced, effective with the March 2015 payment.
  • The Fine Paper segment was renamed Fine Paper & Packaging to reflect the growing importance of premium packaging.

Full Year Highlights

  • Full year consolidated net sales of $902.7 million increased 7 percent compared with the prior year, with 12 percent growth in Technical Products and 2 percent growth in Fine Paper & Packaging.
  • Full year earnings per diluted share of $4.03 in 2014 compared to $2.96 in 2013. Adjusted earnings per share of $3.28 in 2014 increased 12 percent from $2.93 in the prior year.
  • Full year cash provided by operations of $94.5 million in 2014 increased from $83.5 million in the prior year. Cash was used in 2014 to acquire a North American filtration business, invest in organic capital projects and increase dividend payments by almost 50 percent.

"Adjusted earnings" is a non-GAAP measure and is used to improve comparability of year-on-year results. Adjusted figures are reconciled to GAAP later in this release.

"In 2014, every one of our businesses delivered record organic top and bottom line results along with impressive cash from operations. We are successfully executing our strategy to increase our presence in profitable, growing markets like filtration, high-end performance products and premium packaging, and at the same time have significantly increased cash returns to shareholders through a growing dividend," said John O'Donnell , Chief Executive Officer.

"As we enter 2015, our market and financial positions remain strong. We are continuing to invest in attractive core markets like transportation filtration, where we recently approved a capital-efficient project to add capacity in North America to support the ongoing global growth of this business. In all of our activities, we remain disciplined and focused on maintaining the attractive return on invested capital and consistency of results that our shareholders value."

 

Quarterly Consolidated Results

Income Statement

Consolidated net sales of $216.6 million in the fourth quarter of 2014 grew 6 percent compared with $204.9 million in the fourth quarter of 2013. Sales growth in 2014 resulted from the acquired filtration business, higher net selling prices in Technical Products and increased volume in both segments that more than offset $5 million of lower sales due to currency translation resulting from a stronger US dollar versus the euro.    

Selling, general and administrative (SG&A) expense of $23.1 million in the fourth quarter of 2014 increased compared with $19.4 million the fourth quarter of 2013 as a result of the acquired filtration business and timing of certain other expenses.

Adjusted operating income was $21.2 million in 2014 compared with $22.6 million in the fourth quarter of 2013. Lower income in 2014 reflected higher costs related to the extended annual down at the German filtration plant, as well as higher SG&A and input costs that combined more than offset benefits of higher volumes and net prices. GAAP operating income of $16.5 million in the fourth quarter of 2014 included $4.7 million of costs for a pension settlement charge, restructuring, integration and extinguished debt.

Net interest expense of $2.7 million in the fourth quarter of 2014 was unchanged from the prior year.

The adjusted effective income tax rate of 30 percent in the fourth quarter of 2014 declined from 36 percent in the fourth quarter of 2013 due to $1.7 million of tax credits for 2014 Research and Development (R&D) activities that were recognized following extension of the tax law in December.  Excluded from the 2014 adjusted tax rate were $16.9 million of tax credits related to prior years that were recognized in the fourth quarter of 2014 following an extensive tax study and resultant change in methodology.  

Cash Flow and Balance Sheet

 

Cash provided from operations in the fourth quarter of 2014 was $21.9 million compared with $19.0 million in the fourth quarter of 2013. Higher cash flow in 2014 resulted primarily from reductions in working capital achieved in 2014 compared to an increase in working capital the prior year.  

Capital spending of $12.7 million in the fourth quarter of 2014 compared with $8.3 million in the prior year period. Higher spending in 2014 was partly due to the extended annual maintenance down at our filtration plant in Germany.      

Net debt (debt less cash) of $161.7 million at December 31, 2014 decreased $0.7 million compared with the end of the third quarter of 2014. During the fourth quarter of 2014, borrowing in Germany under the new credit facility was used to repatriate cash to the US. 

 

Quarterly Segment Results

 

Technical Products net sales of $110.7 million in the fourth quarter of 2014 increased 12 percent compared with prior year sales of $98.9 million. The growth in sales resulted from increased volumes (including the acquisition), a higher value product mix and increased selling prices, partly offset by unfavorable currency effects. Organic sales on a constant currency basis grew 5 percent, led by gains in filtration and specialties.

Operating income, after excluding $0.3 million for restructuring and integration costs, was $10.3 million in the fourth quarter of 2014 and flat with the prior year. Income in 2014 benefited from higher volumes (including the acquisition), a more profitable mix and increased selling prices that were offset by higher manufacturing costs, including costs for the annual filtration down in Germany that was completed in the third quarter of 2013.  

 

Fine Paper & Packaging net sales were $99.5 million in the fourth quarter of 2014 compared with $99.8 million in the prior year. Increased volumes and sales of core commercial print brands and of premium packaging were offset in part by reduced sales of lower value non-branded grades.          

Operating income of $15.4 million in the fourth quarter of 2014 increased 5 percent compared with $14.7 million in the prior year. Higher income in 2014 primarily resulted from improved manufacturing efficiencies, partly offset by timing of advertising expenditures and higher input costs.

Unallocated Corporate and Other includes unallocated corporate costs and results from acquired non-premium paper grades. Unallocated corporate costs, after excluding $4.3 million of costs for pension settlement, restructuring and extinguished debt, were $4.4 million compared with $3.6 million in prior year period. Costs were higher in 2014 in part due to timing of certain expenses. Sales of non-premium paper grades were $6.4 million in 2014, with an operating loss of $0.2 million, and compared with sales in 2013 of $6.2 million and operating income of $1.2 million.

Full Year 2014 Consolidated Results

 

Net sales of $902.7 million in 2014 increased 7 percent compared with $844.5 million in 2013. Technical Products revenues grew 12 percent as a result of both the July 1 filtration acquisition and 6 percent organic growth across all product groups. Fine Paper revenues grew 2 percent due to both increased volumes and higher net selling prices.  

Operating income of $87.5 million in 2014 increased 4 percent compared with $83.8 million in 2013 as a result of higher sales, improved manufacturing efficiencies and other expenses that combined were able to offset approximately $7 million of higher input costs.  After excluding costs for pension settlement, restructuring, integration and extinguished debt, adjusted operating income increased 11 percent, from $85.1 million in 2013 to $94.1 million in 2014.

Net income from continuing operations of $68.7 million in 2014 increased 39 percent compared with $49.4 million in 2013 and earnings per diluted common share of $4.03 increased 36 percent from $2.96 in 2013. After excluding adjusting items noted in the non-GAAP table later in this release, adjusted earnings per share increased 12 percent, from $2.93 in 2013 to $3.28 in 2014. 

Cash provided by operations of $94.5 million in 2014 increased from $83.5 million in the prior year. Capital spending of $27.9 million in 2014 was relatively flat compared with $28.7 million in 2013.

Net debt (debt less cash) in December increased $23.2 million compared with year end 2013. The increase in net debt in 2014 was used to finance the North American filtration acquisition acquired for $72 million in July 2014.

Outlook

The Company's planning assumptions and outlook for selected items in 2015 are as follows:

  • A weaker euro will result in lower translated US dollars from European operations. Compared with an average rate in 2014 of $1.33, every 10 cent decline in the euro reduces translated sales and pre-tax income by approximately $25 and $2.5 million, respectively.
  • Energy-related costs are expected to decline in 2015 and should help offset impacts from currency translation.
  • The effective tax rate is expected to be 37 percent until the tax law for 2015 R&D credits is renewed. If renewed, the full year rate including these credits is expected to be 35 percent.
  • Capital spending will be maintained between 3 to 5 percent of net sales. In 2015, spending is expected to be at the high end of this range (around $45 million) as a result of a planned investment in advanced solvent-saturated transportation filtration capacity in North America.
  • Despite higher capital spending, free cash flow is expected to remain strong, as cash provided from operations will benefit from reduced pension contributions and tax credits.
  • Direct cash returns to shareholders will increase with the announced dividend increase and potential share buybacks under the authorized $25 million share repurchase plan.

Reconciliation to GAAP Measures

 

The Company will report adjustments to GAAP figures when they are believed to improve comparability and understanding of results. In these instances, a reconciliation of adjusted income measures to comparable GAAP measures will be provided, as shown below: 

 

Continuing Operations


Fourth Quarter


YTD

$ millions


2014


2013


2014


2013










GAAP Operating Income 


$         16.5


$             22.6


$     87.5


$            83.8

   Integration/Restructuring Costs


1.0


-


2.9


0.6

   Pension Settlement Charge


3.5


-


3.5


0.2

   Early Extinguishment of Debt


0.2


-


0.2


0.5

Adjusted Operating Income


$         21.2


$             22.6


$     94.1


$            85.1










GAAP Income 


$         26.9


$             13.1


$     68.7


$            49.4

   Integration/Restructuring Costs


0.6


-


1.8


0.4

   Pension Settlement Charge


2.1


-


2.2


0.1

   Early Extinguishment of Debt


0.1


-


0.1


0.3

   Prior Year R&D Tax Credit


(16.9)


-


(16.9)


(1.4)

Adjusted Income 


$         12.8


$             13.1


$     55.9


$            48.8










GAAP Earnings per Diluted Common Share


$         1.57


$             0.78


$     4.03


$            2.96

   Integration/Restructuring Costs


0.04


-


0.11


0.02

   Pension Settlement Charge


0.13


-


0.13


0.01

   Early Extinguishment of Debt


0.01


-


0.01


0.02

   Prior Year R&D Tax Credit


(1.00)


-


(1.00)


(0.08)

Adjusted Earnings per Share


$         0.75


$             0.78


$     3.28


$            2.93










Diluted Shares


16,983


16,617


16,872


16,403










 

Discontinued Operations

Discontinued operations refer to the Company's former Canadian pulp operations. There were no transactions classified as Discontinued Operations in 2014.  In 2013, the Company recorded income of $2.6 million when it received a refund for excess payments to the pension plan of these operations.

Conference Call

A conference call and webcast to discuss fourth quarter earnings and other matters of interest will be held as noted below.

     Date: Wednesday, February 18, 2015
     Time: 11:00 a.m. Eastern Time
     Dial-In #:  (888) 893-0989 US/Canada or (706) 758-4223 International
     Confirmation ID Code: 68779088
     Live Webcast Link: www.neenah.com

Interested parties are invited to listen to the call live via webcast using the link above and by clicking on the Investors tab and going to the Events page. To participate actively in the call, parties should use the telephone dial-in numbers.  Supplemental data can be found in the Investor Relations – Events section of the company's web site, www.neenah.com.

A replay of the call will be available through the company's web site until March 18, 2015 and may also be accessed by dialing (855) 859-2056 in the US or (404) 537-3406 internationally, using conference ID 68779088.

About Neenah Paper, Inc.

Neenah is a leader in premium image and performance-based products, including filtration, specialized substrates used for tapes, labels and other products, and high-end printing papers. Products are marketed under well-known brands such as CLASSIC®, ASTROBRIGHTS®, ENVIRONMENT®, CRANE®, ROYAL SUNDANCE®, SOUTHWORTH® KIMDURA®, Gessner®, CRANEMAT™, CRANEGLAS™, JET-PRO® SofStretch™ and varitess®. Neenah is headquartered in Alpharetta, Georgia and its products are sold in over 70 countries worldwide from manufacturing operations in the United States and Germany. Additional information can be found at the company's web site, www.neenah.com.

Neenah

Cautionary Note Regarding Forward-Looking Statements

Certain statements in this press release may constitute "forward-looking" statements as defined in Section 27A of the Securities Act of 1933 (the "Securities Act"), Section 21E of the Securities Exchange Act of 1934 (the "Exchange Act"), the Private Securities Litigation Reform Act of 1995 (the "PSLRA"), or in releases made by the U.S. Securities and Exchange Commission ("SEC"), all as may be amended from time to time. Statements contained in this press release that are not historical facts may be forward-looking statements within the meaning of the PSLRA and we caution investors that any forward-looking statements we make are not guarantees or indicative of future performance. These forward-looking statements rely on a number of assumptions concerning future events and are subject to risks, uncertainties and other factors, many of which are outside of our control and could cause actual results to materially differ from such statements. Such risks, uncertainties and other factors include, but are not necessarily limited to, those set forth under the captions "Cautionary Note Regarding Forward-Looking Statements" and/or "Risk Factors" of our latest Form 10-K filed with the SEC as periodically updated by subsequently filed Form 10-Qs (these securities filings can be located on our website at www.neenah.com). Unless specifically required by law, we assume no obligation to update or revise these forward-looking statements to reflect new events or circumstances.  These cautionary statements are being made pursuant to the Securities Act, the Exchange Act and the PSLRA with the intention of obtaining the benefits of the "safe harbor" provisions of such laws.

Contact: Neenah Paper, Inc.
Bill McCarthy
Vice President – Financial Analysis and Investor Relations
678-518-3278

 

NEENAH PAPER, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(In millions, except share and per share data)

(Unaudited)














Three Months Ended December 31,


Year Ended December 31,




2014


2013


2014


2013











Net Sales


$                 216.6


$                 204.9


$                 902.7


$                 844.5

Cost of products sold

172.8


162.7


725.5


678.9


Gross Profit

43.8


42.2


177.2


165.6

Selling, general and administrative expenses

23.1


19.4


83.2


79.4

One-time adjustments (1) (2)

4.7


-


6.6


1.3

Other expense - net

(0.5)


0.2


(0.1)


1.1


Operating Income

16.5


22.6


87.5


83.8

Interest expense-net

2.7


2.7


11.1


11.0


Income From Continuing Operations
  Before Income Taxes

13.8


19.9


76.4


72.8

Provision for income taxes

(13.1)


6.8


7.7


23.4


Income From Continuing Operations

26.9


13.1


68.7


49.4

Income (loss) from discontinued operations,
   net of income taxes

-


-


-


2.6


Net Income

$                   26.9


$                   13.1


$                   68.7


$                   52.0





















Earnings Per Common Share: 








Basic










Continuing Operations

$                   1.59


$                   0.80


$                   4.09


$                   3.02


Discontinued Operations

-


-


-


0.16




$                   1.59


$                   0.80


$                   4.09


$                   3.18











Diluted










Continuing Operations

$                   1.57


$                   0.78


$                   4.03


$                   2.96


Discontinued Operations

-


-


-


0.16




$                   1.57


$                   0.78


$                   4.03


$                   3.12





















Weighted Average Common









Shares Outstanding (000s)









Basic


16,694


16,259


16,584


16,072












Diluted


16,983


16,617


16,872


16,403











(1) Results for the three months ended December 31, 2014, include integration and restructuring costs of $1.0 million, a pension plan settlement charge of $3.5 million and costs related to the early extinguishment of debt of $0.2 million.


(2) Results for the year ended December 31, 2014, include integration and restructuring costs of $2.9 million, a pension plan settlement charge of $3.5 million and costs related to the early extinguishment of debt of $0.2 million.  Results for the year ended December 31, 2013, include integration and restructuring costs of $0.6 million, a pension plan settlement charge of $0.2 million and costs related to the early extinguishment of debt of $0.5 million.

 

NEENAH PAPER, INC. AND SUBSIDIARIES

BUSINESS SEGMENT DATA

(In millions)

(Unaudited)








Year Ended December 31,





Three Months Ended December 31,






2014


2013


2014


2013













Net Sales:











Technical Products

$           110.7


$             98.9


$           466.6


$         416.1



Fine Paper and Packaging

99.5


99.8


409.0


401.8



Other


6.4


6.2


27.1


26.6




Consolidated 

$           216.6


$           204.9


$           902.7


$         844.5













Operating Income (Loss):










Technical Products

$             10.0


$             10.3


$             46.9


$           38.6



Fine Paper and Packaging

15.4


14.7


61.2


59.8



Other


(0.2)


1.2


(0.4)


1.2



Unallocated corporate costs

(8.7)


(3.6)


(20.2)


(15.8)




Consolidated 

$             16.5


$             22.6


$             87.5


$           83.8


 

 

NEENAH PAPER, INC. AND SUBSIDIARIES

SELECTED BALANCE SHEET DATA

(In millions)

(Unaudited)
















December 31, 2014


December 31, 2013


ASSETS





Cash and cash equivalents




$                    72.6


$                    73.4

Accounts receivable - net




87.1


90.5

Inventories




111.3


101.1

Deferred income taxes




15.8


22.8

Prepaid and other current assets

15.7


17.6


Total current assets




302.5


305.4

Property, plant and equipment - net


270.0


261.7

Deferred income taxes




29.9


13.3

Goodwill and other intangibles - net


110.4


81.6

Other non-current assets




17.8


13.9


Total assets




$                  730.6


$                  675.9


LIABILITIES AND STOCKHOLDERS' EQUITY




Debt payable within one year




$                      1.4


$                    21.4

Accounts payable




46.9


36.4

Accrued expenses




45.8


45.8


Total current liabilities




94.1


103.6

Long-term debt




232.9


190.5

Deferred income taxes




10.6


15.6

Noncurrent employee benefits




103.1


97.7

Other noncurrent obligations




1.2


1.0


Total liabilities




441.9


408.4

Stockholders' equity




288.7


267.5


Total liabilities and stockholders' equity



$                  730.6


$                  675.9










 

NEENAH PAPER, INC. AND SUBSIDIARIES

SELECTED CASH FLOW DATA

(In millions)

(Unaudited)












Year Ended December 31,





2014


2013

Operating Activities





Net income


$                  68.7


$                  52.0

Depreciation and amortization


30.0


29.4

Deferred income tax provision


3.7


19.3

Stock-based compensation


6.0


4.9

Excess tax benefit from stock-based compensation


(5.6)


(2.6)

Inventory acquired in acquisition


-


(1.8)

Pension settlement charge, net of plan payments


3.5


(0.2)

Loss on early extinguishment of debt


0.2


0.5

Non-cash effects of changes in FIN 48 accruals


(2.0)


(0.1)

Decrease (increase) in working capital

9.0


(6.6)

Pension and other postretirement benefits

(18.3)


(11.5)

Other


(0.7)


0.2


Cash provided by operating activities


94.5


83.5

Investing Activities





Capital expenditures


(27.9)


(28.7)

Purchase of Crane Technical Materials



(72.4)


-

Purchase of brands



-


(5.2)

Purchase of equity investment


(2.9)


-

Other


(1.7)


0.6


Cash used in investing activities


(104.9)


(33.3)

Financing Activities





Short and long-term borrowings


53.6


234.6

Repayment of debt


(31.0)


(209.3)

Share purchases


(4.5)


(4.6)

Proceeds from exercise of stock options



3.6


3.7

Excess tax benefit from stock-based compensation


5.6


2.6

Cash dividends paid


(17.1)


(11.5)

Other


-


(0.5)


Cash provided by financing activities


10.2


15.0


Effect of exchange rates on cash and
  cash equivalents

(0.6)


0.4


Increase (decrease) in cash and cash equivalents

(0.8)


65.6


Cash and cash equivalents, beginning of year


73.4


7.8


Cash and cash equivalents, end of year



$                  72.6


$                  73.4








 

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SOURCE Neenah Paper, Inc.

Posted Tuesday, February 17, 2015 4:30 pm EST

 
Neenah Paper Declares Quarterly Dividend

ALPHARETTA, Ga., Jan. 30, 2015 /PRNewswire/ -- Neenah Paper, Inc. (NYSE: NP) announced today that its Board of Directors declared a regular quarterly cash dividend of $0.30 per share on the company's common stock. The dividend will be payable on March 3, 2015 to stockholders of record as of close of business on February 13, 2015.

The new dividend rate of $0.30 per share, announced on November 18, 2014, represents an increase of 11 percent compared to the prior dividend rate of $0.27 per share.

About Neenah Paper, Inc.  

Neenah is a leader in premium image and performance-based products, including filtration, specialized substrates used for tapes, labels and other products, and high-end printing papers. Products are marketed under well-known brands such as CLASSIC®, ASTROBRIGHTS®, ENVIRONMENT®, CRANE®, ROYAL SUNDANCE®, SOUTHWORTH® KIMDURA®, Gessner®, CRANEMAT™, CRANEGLAS™, JET-PRO® SofStretch™ and varitess®. Neenah is headquartered in Alpharetta, Georgia and its products are sold in over 70 countries worldwide from manufacturing operations in the United States and Germany. Additional information can be found at the company's web site, www.neenah.com.

Neenah

 

Contact:

Neenah Paper, Inc.


Bill McCarthy


Vice President – Financial Analysis and Investor Relations


678-518-3278

 

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SOURCE Neenah Paper, Inc.

Posted Friday, January 30, 2015 4:30 pm EST

 
Neenah Paper to Report Fourth Quarter and Full Year Earnings on February 17, 2015

ALPHARETTA, Ga., Jan. 28, 2015 /PRNewswire/ -- Neenah Paper, Inc. (NYSE: NP) today announced it will issue a press release covering fourth quarter and full year financial results on Tuesday, February 17, 2015, after the close of the New York Stock Exchange. The company will hold a conference call to discuss earnings and business results at 11:00 a.m. Eastern Time on Wednesday, February 18, 2015.

Interested parties are invited to listen via webcast by registering through the Investor Relations section of the company's web site, www.neenah.com. Individuals who wish to participate actively in the call can dial-in from the U.S. and Canada by using (888) 893-0989 and international callers should use (706) 758-4223. In all cases, callers should use conference ID 68779088. Supplemental data will be posted on the company's web site, www.neenah.com under the Investor Relations section – Events.

A replay of the call will be available on the company's web site until March 18, 2015 or can be accessed by dialing (855) 859-2056 in the U.S. or (404) 537-3406 internationally, using conference ID 68779088.

About Neenah Paper, Inc.

Neenah is a leader in premium image and performance-based products, including filtration, specialized substrates used for tapes, labels and other products, and high-end printing papers. Products are marketed under well-known brands such as CLASSIC®, ASTROBRIGHTS®, ENVIRONMENT®, CRANE®, ROYAL SUNDANCE®, SOUTHWORTH® KIMDURA®, Gessner®, CRANEMAT™, CRANEGLAS™, JET-PRO® SofStretch™ and varitess®. Neenah is headquartered in Alpharetta, Georgia and its products are sold in over 70 countries worldwide from manufacturing operations in the United States and Germany. Additional information can be found at the company's web site, www.neenah.com.

Neenah

Contact:  Neenah Paper, Inc.
Bill McCarthy
Vice President – Financial Analysis and Investor Relations
678-518-3278

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SOURCE Neenah Paper, Inc.

Posted Wednesday, January 28, 2015 4:30 pm EST

 
Neenah Announces 11 Percent Dividend Increase

ALPHARETTA, Ga., Nov. 18, 2014 /PRNewswire/ -- Neenah Paper, Inc. (NYSE: NP) announced today that its Board of Directors approved an 11 percent increase in the cash dividend on the Company's common stock. The quarterly dividend will increase from $0.27 to $0.30 per share ($1.20 per share on an annual basis) with the first payment at the new rate beginning in the first quarter of 2015.

Neenah Paper, Inc. has paid a dividend for 40 consecutive quarters, beginning when the Company was first incorporated in 2004. Today's announcement is the fifth dividend increase in the past two years, during which time the Company's dividend has more than doubled, rising from $0.48 to $1.20 per share.  

About Neenah

Neenah is a leader in premium image and performance-based products, including filtration, specialized substrates used for tapes, labels and other products, and high-end printing papers. Products are marketed under well-known brands such as CLASSIC®, ASTROBRIGHTS®, ENVIRONMENT®, CRANE®, ROYAL SUNDANCE®, SOUTHWORTH® KIMDURA®, Gessner®, CRANEMAT™, CRANEGLAS™, JET-PRO® SofStretch™ and varitess®. Neenah is headquartered in Alpharetta, Georgia and its products are sold in over 70 countries worldwide from manufacturing operations in the United States and Germany. Additional information can be found at the company's web site, www.neenah.com.

Neenah

Cautionary Note Regarding Forward-Looking Statements

Certain statements in this press release may constitute "forward-looking" statements as defined in Section 27A of the Securities Act of 1933 (the "Securities Act"), Section 21E of the Securities Exchange Act of 1934 (the "Exchange Act"), the Private Securities Litigation Reform Act of 1995 (the "PSLRA"), or in releases made by the U.S. Securities and Exchange Commission ("SEC"), all as may be amended from time to time. Statements contained in this press release that are not historical facts may be forward-looking statements within the meaning of the PSLRA and we caution investors that any forward-looking statements we make are not guarantees or indicative of future performance. These forward-looking statements rely on a number of assumptions concerning future events and are subject to risks, uncertainties and other factors, many of which are outside of our control and could cause actual results to materially differ from such statements. Such risks, uncertainties and other factors include, but are not necessarily limited to, those set forth under the captions "Cautionary Note Regarding Forward-Looking Statements" and/or "Risk Factors" of our latest Form 10-K filed with the SEC as periodically updated by subsequently filed Form 10-Qs (these securities filings can be located on our website at www.neenah.com). Unless specifically required by law, we assume no obligation to update or revise these forward-looking statements to reflect new events or circumstances.  These cautionary statements are being made pursuant to the Securities Act, the Exchange Act and the PSLRA with the intention of obtaining the benefits of the "safe harbor" provisions of such laws.

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Contact:

 Neenah Paper, Inc.


 Bill McCarthy, Vice President – Financial Analysis and Investor Relations


678-518-3278

SOURCE Neenah Paper, Inc.

Posted Tuesday, November 18, 2014 8:30 am EST

 
Neenah Paper Reports Third Quarter Results

Sales increase 8% with adjusted E.P.S. up 36% to $0.83

ALPHARETTA, Ga., Nov. 4, 2014 /PRNewswire/ -- Neenah Paper, Inc. (NYSE: NP) today reported 2014 third quarter results. 

Third Quarter Highlights

  • Record third quarter results for sales, operating income and earnings per share.
  • Consolidated sales increased 8 percent with operating income up 35 percent.  
  • Annual maintenance downs completed at all mills except for German filtration facility.   
  • Successfully integrating Crane Technical Materials business acquired July 1, 2014.
  • Earnings per diluted common share grow 18 percent, from $0.68 to $0.80, and adjusted earnings increase 36 percent, from $0.61 to $0.83. Adjusted earnings in 2014 exclude costs of $0.03 per share for Technical Products restructuring/integration activities and exclude a net benefit in 2013 of $0.07 per share, primarily from one-time state tax credits.   
  • Free cash flow (cash from operations less capital spending) of $15 million.

"Adjusted earnings" is a non-GAAP measure and used to improve comparability of year-on-year results. Adjusted figures are reconciled to GAAP later in this release.

"Our businesses continue to perform well, delivering double-digit earnings growth even after adjusting for acquisitions and timing of downs. Results were led by gains in filtration, technical specialties and premium fine paper brands," said John O'Donnell , Chief Executive Officer. "The acquisition integration is going very well and is providing new opportunities to grow in filtration, as well as in other attractive niche markets.  With solid cash flows and a strong balance sheet, we remain well-positioned to act on high-returning organic investments and value-adding acquisitions, while continuing to increase cash returns to shareholders through an attractive dividend."

Quarterly Consolidated Results

Income Statement

Net sales of $230.6 million in the third quarter of 2014 grew 8 percent compared with $214.1 million in the third quarter of 2013. In addition to the Crane Technical Materials acquisition, sales growth in 2014 resulted from increased Technical Products volumes, as well as a higher value mix and increased selling prices in both segments.  

Consolidated selling, general and administrative (SG&A) expense of $19.8 million in the third quarter of 2014 was flat compared with the prior year.

Operating income of $22.1 million in the third quarter of 2014 grew 35 percent compared with $16.4 million in the third quarter of 2013. Higher income resulted from top-line growth, manufacturing efficiencies and lower expenses that more than offset higher input costs and integration/restructuring expense.

Net interest expense of $2.7 million in the third quarter of 2014 compared with $2.6 million in the third quarter of 2013.     

The effective income tax rate of 30 percent in the third quarter of 2014 compared with 17 percent in the third quarter of 2013. The lower rate in 2013 was primarily due to recognition of $1.4 million for a one-time state tax credit.

Cash Flow and Balance Sheet

Cash provided from operations in the third quarter of 2014 was $20.7 million compared with $34.5 million in the third quarter of 2013. In the third quarter of 2014, changes in working capital provided less cash than in the prior year due in part to differences in timing of annual maintenance downs.   

Capital spending of $6.1 million in the third quarter of 2014 compared with $10.7 million in the prior year period. Lower spending in 2014 is partly due to timing of maintenance downs, which will result in higher spending in the fourth quarter. Full year spending in 2014 is projected to be approximately $30 million.

Debt as of September 30, 2014 was $186.4 million compared to $193.5 million as of June 30, 2014 and compared with $211.9 million as of December 31, 2013. Cash and equivalents as of September 30, 2014 were $24.0 million, compared with $92.3 million as of June 30, 2014 and $73.4 million as of December 31, 2013. The reduction in cash in the third quarter of 2014 was primarily due to cash used for the purchase of Crane Technical Materials.

Quarterly Segment Results

Technical Products net sales of $121.5 million in the third quarter of 2014 increased 16 percent compared with prior year sales of $104.4 million. The growth in sales resulted from increased volumes (including the acquisition), a higher value product mix, and increased selling prices. Excluding the acquisition, sales increased 5 percent, with 2 percent volume growth and 3 percent net price improvement. Revenue gains were led by filtration (up 9 percent net of acquisition) and specialties (up 6 percent).

Third quarter operating income for Technical Products of $10.0 million in 2014 increased 49 percent compared with $6.7 million in the third quarter of 2013. Operating income included approximately $1.1 million for restructuring/integration costs in 2014 and $0.2 million in 2013.   

Increased income in 2014 resulted primarily from higher volumes, a more profitable mix and increased selling prices. In addition, manufacturing costs benefitted from timing of the annual filtration maintenance down, scheduled in the fourth quarter of 2014 compared with the third quarter of 2013.  

Fine Paper net sales were $101.4 million in the third quarter of 2014, down one percent compared with $102.6 million in the prior year. Sales in 2014 reflected a two percent decrease in volume that was partly offset by increased selling prices and a higher value mix that reflected strong growth in core premium brands.         

Operating income of $15.2 million in the third quarter of 2014 increased 14 percent compared with $13.3 million in the prior year. The higher income in 2014 resulted from improved manufacturing efficiencies, a higher value mix and increased selling prices that were partly offset by higher input costs.

Unallocated Corporate and Other includes unallocated corporate costs and results from acquired non-premium paper grades. Unallocated corporate costs in the third quarter of 2014 were $3.2 million compared with $3.9 million in prior year period. The reduction in costs in 2014 resulted primarily from differences in timing of expenses. Sales of Other non-premium paper grades were $7.7 million in 2014, with operating income of $0.1 million, and compared with 2013 sales of $7.1 million and operating income of $0.3 million.

Year to Date

Year-to-date consolidated net sales of $686.1 million in 2014 increased 7 percent compared with $639.6 million in 2013. Technical Products revenues grew 12 percent, with volume growth across all product groups, inclusion of the Crane acquisition and favorable currency translation. Fine Paper sales were up 2 percent through the first nine months, due to increased volumes and higher net selling prices.

Operating income of $71.0 million in 2014 increased 16 percent compared with $61.2 million in 2013 as a result of higher sales, improved manufacturing efficiencies, and lower SG&A and other expenses. These items more than offset approximately $6 million of higher input costs, with more than half of this due to a spike in Fine Paper natural gas costs in the first quarter of 2014.

Net income from continuing operations was $41.8 million in 2014 compared with $36.3 million in 2013, with the increase primarily a result of higher operating income. Year to date earnings per diluted common share of $2.45 increased 12 percent from $2.18 in 2013. After excluding adjusting items noted in the non-GAAP table later in this release, adjusted earnings per share increased 18 percent, from $2.15 in 2013 to $2.53 in 2014. 

Cash provided by operating activities of $72.6 million for the nine months ended September 30, 2014 was $8.1 million higher than the prior year period.  The increase was primarily due to higher earnings and improved working capital efficiencies.

Year-to-date capital spending of $15.2 million compared with $20.4 million in the prior year.

Reconciliation to GAAP Measures

The Company will report adjustments to GAAP figures when they are believed to improve comparability and understanding of results. In these instances, a reconciliation of adjusted income measures to comparable GAAP measures will be provided, as shown below:  

Continuing Operations


 

Third Quarter


YTD

$ millions


2014


2013


2014


2013










GAAP Operating Income 


$    22.1


$    16.4


$    71.0


$    61.2

   Integration/Restructuring Costs


0.9


0.4


1.9


0.6

   Pension Settlement Charge


-


-


-


0.2

   Early Extinguishment of Debt


-


-


-


0.5

Adjusted Operating Income


$    23.0


$    16.8


$    72.9


$    62.5










GAAP Income 


$    13.6


$    11.4


$    41.8


$    36.3

   Integration/Restructuring Costs


0.6


0.2


1.3


0.4

   Pension Settlement Charge


-


-


-


0.1

   Early Extinguishment of Debt


-


-


-


0.3

   R&D Tax Credit


-


(1.4)


-


(1.4)

Adjusted Income 


$    14.2


$    10.2


$    43.1


$    35.7










GAAP Earnings per Diluted Common Share


$    0.80


$    0.68


$    2.45


$    2.18

   Integration/Restructuring Costs


0.03


0.01


0.08


0.02

   Pension Settlement Charge


-


-


-


0.01

   Early Extinguishment of Debt


-


-


-


0.02

   R&D Tax Credit


-


(0.08)


-


(0.08)

Adjusted Earnings per Share


$    0.83


$    0.61


$    2.53


$    2.15










Diluted Shares


16,913


16,469


16,831


16,338










Discontinued Operations

With the sale of the Company's remaining pulp operations in 2010, there are no discontinued operations. In 2013, the Company recorded income of $2.6 million resulting from a refund for excess payments made in previous years to the pension plan of the Company's former Canadian pulp operations. 

Conference Call

A conference call and webcast to discuss third quarter earnings and other matters of interest will be held as noted below.

Date: Wednesday, November 5, 2014
Time: 9:00 a.m. Eastern Time
Dial-In #:  (888) 893-0989 US/Canada or (706) 758-4223 International 
Confirmation ID Code: 24059228
Live Webcast Link: www.neenah.com

Interested parties are invited to listen to the call live via webcast using the link above and by clicking on the Investors tab and going to the Events page. To participate actively in the call, parties should use the telephone dial-in numbers.  Supplemental data can be found in the Investor Relations – Events section of the company's web site, www.neenah.com.

A replay of the call will be available through the company's web site until December 4, 2014 and may also be accessed by dialing (855) 859-2056 in the US or (404) 537-3406 internationally, using conference ID 24059228.

About Neenah Paper, Inc.

Neenah is a leader in premium image and performance-based products, including filtration, specialized substrates used for tapes, labels and other products, and high-end printing papers. Products are marketed under well-known brands such as CLASSIC®, ASTROBRIGHTS®, ENVIRONMENT®, CRANE®, ROYAL SUNDANCE®, SOUTHWORTH® KIMDURA®, Gessner®, CRANEMAT™, CRANEGLAS™, JET-PRO® SofStretch™ and varitess®. Neenah is headquartered in Alpharetta, Georgia and its products are sold in over 70 countries worldwide from manufacturing operations in the United States and Germany. Additional information can be found at the company's web site, www.neenah.com.

Neenah

Cautionary Note Regarding Forward-Looking Statements

Certain statements in this press release may constitute "forward-looking" statements as defined in Section 27A of the Securities Act of 1933 (the "Securities Act"), Section 21E of the Securities Exchange Act of 1934 (the "Exchange Act"), the Private Securities Litigation Reform Act of 1995 (the "PSLRA"), or in releases made by the U.S. Securities and Exchange Commission ("SEC"), all as may be amended from time to time. Statements contained in this press release that are not historical facts may be forward-looking statements within the meaning of the PSLRA and we caution investors that any forward-looking statements we make are not guarantees or indicative of future performance. These forward-looking statements rely on a number of assumptions concerning future events and are subject to risks, uncertainties and other factors, many of which are outside of our control and could cause actual results to materially differ from such statements. Such risks, uncertainties and other factors include, but are not necessarily limited to, those set forth under the captions "Cautionary Note Regarding Forward-Looking Statements" and/or "Risk Factors" of our latest Form 10-K filed with the SEC as periodically updated by subsequently filed Form 10-Qs (these securities filings can be located on our website at www.neenah.com). Unless specifically required by law, we assume no obligation to update or revise these forward-looking statements to reflect new events or circumstances.  These cautionary statements are being made pursuant to the Securities Act, the Exchange Act and the PSLRA with the intention of obtaining the benefits of the "safe harbor" provisions of such laws.

Contact:  Neenah Paper, Inc. 
Bill McCarthy 
Vice President – Financial Analysis and Investor Relations
678-518-3278
  

 

NEENAH PAPER, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(In millions, except share and per share data)

(Unaudited)












Three Months Ended
September 30,


Nine Months Ended
September 30,



2014


2013


2014


2013










Net Sales

$ 230.6


$ 214.1


$ 686.1


$ 639.6

Cost of products sold

187.8


177.0


552.7


516.2


Gross Profit

42.8


37.1


133.4


123.4

Selling, general and administrative expenses

19.8


19.8


60.1


60.0

Unusual items (1) (2)

0.9


0.4


1.9


1.3

Other expense - net

-


0.5


0.4


0.9


Operating Income

22.1


16.4


71.0


61.2

Interest expense-net

2.7


2.6


8.4


8.3


Income From Continuing Operations
   Before Income Taxes

19.4


13.8


62.6


52.9

Provision for income taxes

5.8


2.4


20.8


16.6


Income From Continuing Operations

13.6


11.4


41.8


36.3

Income from discontinued operations, net of income taxes

-


-


-


2.6


Net Income

$   13.6


$   11.4


$   41.8


$   38.9



















Earnings Per Common Share: 








Basic









Continuing Operations

$   0.81


$   0.69


$   2.49


$   2.22


Discontinued Operations

-


-


-


0.16



$   0.81


$   0.69


$   2.49


$   2.38










Diluted









Continuing Operations

$   0.80


$   0.68


$   2.45


$   2.18


Discontinued Operations

-


-


-


0.16



$   0.80


$   0.68


$   2.45


$   2.34



















Weighted Average Common









Shares Outstanding (000s)









Basic

16,627


16,089


16,543


16,016











Diluted

16,913


16,469


16,831


16,338










(1) Results for the three months ended September 30, 2014, include integration/restructuring costs of $0.9 million. Results for the three months ended September 30, 2013, include integration costs of $0.4 million.


(2) Results for the nine months ended September 30, 2014, include integration/restructuring costs of $1.9 million. Results for the nine months ended September 30, 2013, include integration costs of $0.6 million, a supplemental executive pension plan settlement charge of $0.2 million and costs related to the early extinguishment of debt of $0.5 million.










NEENAH PAPER, INC. AND SUBSIDIARIES

BUSINESS SEGMENT DATA

(In millions)

(Unaudited)




Three Months Ended September 30,


Nine Months Ended September 30,






2014


2013


2014


2013










Net Sales:









Technical Products

$ 121.5


$ 104.4


$ 355.9


$ 317.2


Fine Paper

101.4


102.6


309.5


302.0


Other

7.7


7.1


20.7


20.4



Consolidated

$ 230.6


$ 214.1


$ 686.1


$ 639.6










Operating Income:









Technical Products

$   10.0


$     6.7


$   36.9


$   28.3


Fine Paper

15.2


13.3


45.8


45.1


Other

0.1


0.3


(0.2)


-


Unallocated corporate costs

(3.2)


(3.9)


(11.5)


(12.2)



Consolidated

$   22.1


$   16.4


$   71.0


$   61.2










 

NEENAH PAPER, INC. AND SUBSIDIARIES

SELECTED BALANCE SHEET DATA

(In millions)

(Unaudited)








September 30, 2014


December 31, 2013

ASSETS





Cash and cash equivalents


$                        24.0


$                       73.4

Accounts receivable - net


107.7


90.5

Inventories


109.0


101.1

Deferred income taxes


18.4


22.8

Prepaid and other current assets


14.4


17.6


Total current assets


273.5


305.4

Property, plant and equipment - net


267.8


261.7

Deferred income taxes


3.8


13.3

Goodwill and other intangibles - net


113.2


81.6

Other non-current assets


15.9


13.9


Total assets


$                      674.2


$                     675.9

LIABILITIES AND STOCKHOLDERS' EQUITY




Debt payable within one year


$                          1.4


$                       21.4

Accounts payable


49.4


36.4

Accrued expenses


50.1


45.8


Total current liabilities


100.9


103.6

Long-term debt


185.0


190.5

Deferred income taxes


14.7


15.6

Non-current employee benefits


79.4


97.7

Other noncurrent obligations


0.9


1.0


Total liabilities


380.9


408.4

Stockholders' equity


293.3


267.5


Total liabilities and stockholders' equity


$                      674.2


$                     675.9






 

NEENAH PAPER, INC. AND SUBSIDIARIES

SELECTED CASH FLOW DATA

(In millions)

(Unaudited)








Nine Months Ended September 30,



2014


2013

Operating Activities




Net income

$  41.8


$  38.9

Depreciation and amortization

22.4


21.8

Stock-based compensation

4.1


4.0

Excess tax benefit from stock-based compensation

(3.0)


(0.4)

Deferred income tax provision

18.0


13.7

Inventory acquired in acquisitions

-


(1.8)

SERP payments, net of settlement charge

-


(0.2)

Loss on retirement of bonds

-


0.5

Non-cash effects of changes in FIN 48 accruals

(2.3)


(0.2)

Decrease (increase) in working capital

2.2


(5.3)

Pension and other postretirement benefits

(10.4)


(5.9)

Other

(0.2)


(0.6)


Net cash provided by operating activities

72.6


64.5

Investing Activities




Capital expenditures

(15.2)


(20.4)

Purchase of Crane Technical Materials

(72.4)


-

Purchase of brands

-


(5.2)

Purchase of equity investment

(2.9)


-

Purchase of marketable securities

(0.4)


-

Other

(0.1)


0.8


Cash used in investing activities

(91.0)


(24.8)

Financing Activities




Short and long-term borrowings – net of debt issuance costs

6.5


215.5

Repayment of debt

(30.6)


(208.5)

Proceeds from exercise of stock options

3.5


2.4

Shares purchased

(0.5)


(0.7)

Cash dividends paid

(12.6)


(8.2)

Excess tax benefit from stock-based compensation

3.0


(0.1)


Cash (used in) provided by financing activities

(30.7)


0.4


Effect of exchange rates on cash and cash equivalents

(0.3)


0.3


Net increase in cash and cash equivalents

$ (49.4)


$  40.4






 

Logo - http://photos.prnewswire.com/prnh/20140507/85487

SOURCE Neenah Paper, Inc.

Posted Tuesday, November 4, 2014 4:15 pm EST

 
Neenah Paper Declares Quarterly Dividend

ALPHARETTA, Ga., Oct. 31, 2014 /PRNewswire/ -- Neenah Paper, Inc. (NYSE: NP) announced today that its Board of Directors declared a regular quarterly cash dividend of $0.27 per share on the company's common stock. The dividend will be payable on December 2, 2014 to stockholders of record as of close of business on November 14, 2014.

The new dividend rate of $0.27 per share, announced on May 22, 2014, represents an increase of 13 percent compared to the prior dividend rate of $0.24 per share.

About Neenah Paper, Inc.  

Neenah is a leader in premium image and performance-based products, including filtration, specialized substrates used for tapes, labels and other products, and high-end printing papers. Products are marketed under well-known brands such as CLASSIC®, ASTROBRIGHTS®, ENVIRONMENT®, CRANE®, ROYAL SUNDANCE®, SOUTHWORTH® KIMDURA®, Gessner®, CRANEMAT™, CRANEGLAS™, JET-PRO® SofStretch™ and varitess®. Neenah is headquartered in Alpharetta, Georgia and its products are sold in over 70 countries worldwide from manufacturing operations in the United States and Germany. Additional information can be found at the company's web site, www.neenah.com.

Neenah

 

Contact:

Neenah Paper, Inc.


Bill McCarthy


Vice President – Financial Analysis and Investor Relations


678-518-3278

Logo - http://photos.prnewswire.com/prnh/20140507/85487

SOURCE Neenah Paper, Inc.

Posted Friday, October 31, 2014 3:30 pm EDT

 
 Packaging Corp of America
( Last updated Wednesday, April 1, 2015 8:06 pm EDT)
Packaging Corporation of America Announces 38% Dividend Increase
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Packaging Corporation of America Schedules Conference Call to Discuss Fourth Quarter and Full Year 2014 Operating Results
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LAKE FOREST, Ill.--(BUSINESS WIRE)--Dec. 5, 2014-- Packaging Corporation of America’s (NYSE: PKG) Chief Executive Officer, Mark Kowlzan, will speak at the Bank of America Merrill Lynch 2014 US Basic Materials Conference in Boston on Wednesday, December 10th at 8:00 am Eastern time followed by a question and answer session. Interested parties may access the live presentation and Q & A by registering on BAML’s website prior to the presentation time. You may also access the presentation and Q & A by visiting the Investor Relations section of PCA’s website at: www.packagingcorp.com. Please go to the PCA websit... Posted Friday, December 5, 2014 12:30 pm EST

 
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LAKE FOREST, Ill.--(BUSINESS WIRE)--Nov. 20, 2014-- Packaging Corporation of America’s (NYSE: PKG) Chief Executive Officer, Mark Kowlzan, will speak at the Citi 2014 Basic Materials Conference in New York City on Wednesday, December 3rd at 8:45 am Eastern time followed by a question and answer session. You may access the presentation and Q & A by visiting the Investor Relations section of PCA’s website at: www.packagingcorp.com. Please go to the PCA website 15 minutes prior to the start of the presentation in case you need to download or install any necessary software. If you are an institutional client... Posted Thursday, November 20, 2014 4:53 pm EST

 
Packaging Corporation of America’s Chief Executive Officer to Speak at Vertical Research Partners’ Global Paper & Packaging Conference on November 19, 2014
LAKE FOREST, Ill.--(BUSINESS WIRE)--Nov. 4, 2014-- Packaging Corporation of America’s (NYSE: PKG) Chief Executive Officer, Mark Kowlzan, will speak at Vertical Research Partners’ Global Paper & Packaging Conference 2014 in New York City on Wednesday, November 19th at 8:15 am Eastern time followed by a question and answer session. You may access the presentation and Q & A by visiting the Investor Relations section of PCA’s website at: www.packagingcorp.com. Please go to the PCA website 15 minutes prior to the start of the presentation in case you need to download or install any necessary software. PC... Posted Tuesday, November 4, 2014 4:32 pm EST

 
Packaging Corporation of America Reports Record Third Quarter 2014 Results
LAKE FOREST, Ill.--(BUSINESS WIRE)--Oct. 20, 2014-- Packaging Corporation of America (NYSE: PKG) today reported third quarter net income of $104 million, or $1.06 per share. Third quarter net income included after-tax charges for the Boise integration, debt refinancing and DeRidder mill restructuring of $20 million, or $0.20 per share, including cash charges of $6 million, or $0.06 per share, and non-cash charges of $14 million, or $0.14 per share. Excluding special items, third quarter 2014 net income was $124 million, or $1.26 per share, compared to third quarter 2013 net income of $89 million, or $0.92 per share, and second qu... Posted Monday, October 20, 2014 5:00 pm EDT

 
 Potlatch
( Last updated Wednesday, April 1, 2015 8:06 pm EDT)
Potlatch Schedules First Quarter 2015 Earnings Release and Conference Call for April 22nd
Potlatch Schedules First Quarter 2015 Earnings Release and Conference Call for April 22nd Posted Tuesday, March 24, 2015 9:30 am EDT

 
Potlatch Taps Mark Bice to Manage Land Acquisitions and Sales in Southern US
Potlatch Taps Mark Bice to Manage Land Acquisitions and Sales in Southern US Posted Thursday, February 19, 2015 9:30 am EST

 
Potlatch Executives to Present at the Raymond James Institutional Investor Conference in Orlando
Potlatch Executives to Present at the Raymond James Institutional Investor Conference in Orlando Posted Thursday, February 19, 2015 9:30 am EST

 
Potlatch Board Declares Distribution on Common Stock
Potlatch Board Declares Distribution on Common Stock Posted Friday, February 13, 2015 9:30 am EST

 
Potlatch Corporation Reports Fourth Quarter and Full Year 2014 Results
Potlatch Corporation Reports Fourth Quarter and Full Year 2014 Results Posted Wednesday, January 28, 2015 9:30 am EST

 
Potlatch Announces Tax Treatment for 2014 Dividend Distributions
Potlatch Announces Tax Treatment for 2014 Dividend Distributions Posted Tuesday, January 13, 2015 9:30 am EST

 
Potlatch Schedules Fourth Quarter 2014 Earnings Release and Conference Call for January 28th
Potlatch Schedules Fourth Quarter 2014 Earnings Release and Conference Call for January 28th Posted Tuesday, January 6, 2015 9:30 am EST

 
Potlatch Completes Timberland Acquisition and Board Increases Dividend 7%
Potlatch Completes Timberland Acquisition and Board Increases Dividend 7% Posted Monday, December 8, 2014 9:30 am EST

 
 Rock Tenn
( Last updated Wednesday, April 1, 2015 8:06 pm EDT)
RockTenn to Present at the Jefferies 2013 Global Industrials Conference
NORCROSS, Ga., Aug. 9, 2013 (GLOBE NEWSWIRE) -- Steve Voorhees, President and Chief Operating Officer of RockTenn, will speak to the investment community at 1:30 p.m. EDT on Thursday, Aug.15, 2013, at the Jefferies 2013 Global Industrials Conference in New York. The audio presentation will be webcast and can be accessed at www.rocktenn.com under the investors section. Slides from the presentation will also be available under the investors section at www.rocktenn.com. RockTenn (NYSE:RKT) is one of North America's leading integrated manufacturers of corrugated and consumer packaging. RockTenn's 26,000 employees are committed to exceeding their customers' expectations - every time. The ... Posted Friday, August 9, 2013 12:50 pm EDT

 
RockTenn CEO Jim Rubright to Retire, COO Steve Voorhees to Become CEO; Ward Dickson to Join as CFO; Stephen Felker to Become Chairman of the Board; Voorhees and Jenny Hourihan Elected to Board
NORCROSS, Ga., Aug. 2, 2013 (GLOBE NEWSWIRE) -- RockTenn (NYSE:RKT) today announced that Jim Rubright will retire as chief executive officer and a director on Oct. 31, 2013. Steve Voorhees, chief operating officer of RockTenn, will become chief executive officer upon Rubright's retirement. Voorhees joined RockTenn as chief financial officer in 2000 and became chief financial officer and chief administrative officer in 2008, and president and chief operating officer in January 2013. Ward Dickson will join RockTenn on Sept. 16, 2013, as executive vice president and chief financial officer with responsibility for finance, information technology and procurement. Dickson currently serves as s... Posted Friday, August 2, 2013 7:31 am EDT

 
RockTenn Announces Dividend
NORCROSS, Ga., July 25, 2013 (GLOBE NEWSWIRE) -- RockTenn today reported that its Board of Directors declared a dividend of $0.30 per share on its Class A Common Stock to shareholders of record at the close of business on August 5, 2013. The dividend, which will be paid on August 16, 2013, represents an annual dividend rate of $1.20 per share.  RockTenn (NYSE:RKT) is one of North America's leading integrated manufacturers of corrugated and consumer packaging. RockTenn's 26,000 employees are committed to exceeding their customers' expectations – every time. The Company operates locations in the United States, Canada, Mexico, Chile, Argentina and China. For more information, visit www.rock... Posted Thursday, July 25, 2013 6:05 pm EDT

 
RockTenn Reports Third Quarter Fiscal 2013 Earnings Up 136% Over the Prior Year Quarter
NORCROSS, Ga., July 23, 2013 (GLOBE NEWSWIRE) -- RockTenn (NYSE:RKT) today reported earnings for the quarter ended June 30, 2013 of $1.91 per diluted share and adjusted earnings of $2.16 per diluted share. Adjusted earnings per share increased 127% over the prior year quarter.             Three Months Three Months Nine Months Nine Months   Ended  Ended Ended  Ended   June 30, June 30, June 30, June 30,   2013 2012 20... Posted Tuesday, July 23, 2013 5:07 pm EDT

 
RockTenn Will Hold Conference Call to Discuss Third Quarter Fiscal 2013 Results
NORCROSS, Ga., June 27, 2013 (GLOBE NEWSWIRE) -- RockTenn will hold its conference call to discuss its third quarter of fiscal 2013 results and other topics that may be raised during the discussion on Wednesday, July 24, 2013, at 9 a.m. EDT. RockTenn will release its third quarter of fiscal 2013 results after the market close on Tuesday, July 23, 2013. The webcast of the call, along with the presentation, press release and other relevant financial and statistical information, can be accessed on the Investors section of RockTenn's website at www.rocktenn.com. The webcast and presentation will also be archived on www.rocktenn.com. Investors who wish to participate in the webcast via te... Posted Thursday, June 27, 2013 6:10 pm EDT

 
RockTenn to Present at the Deutsche Bank Global Industrials and Basic Materials Conference
NORCROSS, Ga., June 6, 2013 (GLOBE NEWSWIRE) -- James A. Rubright, Chairman and Chief Executive Officer of RockTenn, will speak to the investment community at 1:35 p.m. CDT on Thursday, June 13, 2013, at the Deutsche Bank Global Industrials and Basic Materials Conference in Chicago. The audio presentation will be webcast and can be accessed at www.rocktenn.com under the investors section. Slides from the presentation will also be available under the investors section at www.rocktenn.com. RockTenn (NYSE:RKT) is one of North America's leading integrated manufacturers of corrugated and consumer packaging. RockTenn's 26,000 employees are committed to exceeding their customers' expectatio... Posted Thursday, June 6, 2013 3:06 pm EDT

 
RockTenn to Present at the Goldman Sachs Basic Materials Conference 2013
NORCROSS, Ga., May 15, 2013 (GLOBE NEWSWIRE) -- James A. Rubright, Chairman and Chief Executive Officer of RockTenn, will speak to the investment community at 3 p.m. ET on Tuesday, May 21, 2013 at the Goldman Sachs Basic Materials Conference 2013 in New York. The audio presentation will be webcast and can be accessed at www.rocktenn.com under the investors section. Slides from the presentation will also be available under the investors section at www.rocktenn.com. RockTenn (NYSE:RKT) is one of North America's leading integrated manufacturers of corrugated and consumer packaging. RockTenn's 26,000 employees are committed to exceeding their customers' expectations - every time. The Com... Posted Wednesday, May 15, 2013 10:26 am EDT

 
RockTenn Announces Dividend; Increases Annualized Dividend by 33 Percent to $1.20 Per Share
NORCROSS, Ga., April 26, 2013 (GLOBE NEWSWIRE) -- RockTenn (NYSE:RKT) today reported that its Board of Directors declared a dividend of $0.30 per share on its Class A Common Stock to shareholders of record at the close of business on May 7, 2013. The dividend, which will be paid on May 20, 2013, represents an annual dividend rate of $1.20 per share.  "We implemented this mid-year increase in our dividend rate because of our growing free cash flow and our overall outlook for the long-term profitability of our business," said James A. Rubright, RockTenn Chairman and Chief Executive Officer. RockTenn is one of North America's leading integrated manufacturers of corrugated and consumer p... Posted Friday, April 26, 2013 12:36 pm EDT

 
 R R Donnelley
( Last updated Wednesday, April 1, 2015 8:06 pm EDT)
RR Donnelley Recognized as Partner-Level Supplier in John Deere's Achieving Excellence Program
RR Donnelley Recognized as Partner-Level Supplier in John Deere's Achieving Excellence Program Posted Tuesday, March 31, 2015 6:30 am EDT

 
Hart-Scott-Rodino Waiting Period Expires for RR Donnelley Acquisition of Courier Corporation
Hart-Scott-Rodino Waiting Period Expires for RR Donnelley Acquisition of Courier Corporation Posted Tuesday, March 24, 2015 6:30 am EDT

 
RR Donnelley Showcases In-Store Innovations at GlobalShop 2015
RR Donnelley Showcases In-Store Innovations at GlobalShop 2015 Posted Monday, March 23, 2015 6:30 am EDT

 
RR Donnelley to Present at the Credit Suisse Global Services Conference
RR Donnelley to Present at the Credit Suisse Global Services Conference Posted Tuesday, March 3, 2015 6:30 am EST

 
RR Donnelley Reports Fourth-Quarter and Full-Year 2014 Results
RR Donnelley Reports Fourth-Quarter and Full-Year 2014 Results Posted Wednesday, February 25, 2015 6:30 am EST

 
RR Donnelley Awarded a Multi-Year Contract by Sterling Publishing Co., Inc. for Book Fulfillment
RR Donnelley Awarded a Multi-Year Contract by Sterling Publishing Co., Inc. for Book Fulfillment Posted Tuesday, February 17, 2015 6:30 am EST

 
RR Donnelley to Acquire Courier Corporation
RR Donnelley to Acquire Courier Corporation Posted Thursday, February 5, 2015 8:30 am EST

 
RR Donnelley to Announce Fourth-Quarter Results and Host a Conference Call on February 25th
RR Donnelley to Announce Fourth-Quarter Results and Host a Conference Call on February 25th Posted Wednesday, February 4, 2015 4:00 pm EST

 
 Sonoco
( Last updated Wednesday, April 1, 2015 8:06 pm EDT)
Sonoco's Menasha, Wis. Paper Plant Receives Bronze Sustainability Star Award
HARTSVILLE, S.C., April 1, 2015 (GLOBE NEWSWIRE) -- Sonoco (NYSE:SON), one of the largest diversified packaging companies, has recognized U.S. Paper Mills Corp.'s facility in Menasha, Wis., with a Bronze Sustainability Star Award for the plant's successful efforts to achieve a 26 percent waste reduction. The plant achieved this significant waste reduction by recovering fiber from the waste streams in the pulping process and reducing moisture content in its waste stream by optimizing equipment. The fiber recovery component alone reduced waste by 50-60 tons per month. "Our primary goal was to recover fiber from the waste streams in the pulping process, and it has paid off," said Troy H... Posted Wednesday, April 1, 2015 7:30 am EDT

 
Sonoco Issues 2014 Annual Report to Shareholders
Company's Annual Meeting to be Held April 15, 2015 HARTSVILLE, S.C., March 16, 2015 (GLOBE NEWSWIRE) -- Sonoco (NYSE:SON), one of the largest diversified global packaging companies, today announced that its 2014 Annual Report to Shareholders is now available on the Company's website at www.sonoco.com in the Investor Relations section. The report, entitled Grow & Optimize: Changing for the Better, reviews Sonoco's 2014 financial performance and examines how the Company is creating a highly engaged culture of innovation to spur the development of innovative packaging solutions designed to deliver a sustainable competitive advantage for its customers around the world. "Two years ago, w... Posted Monday, March 16, 2015 8:01 am EDT

 
Sonoco Signs Agreement to Acquire Majority Stake in Brazilian Flexible Packaging Company
HARTSVILLE, S.C., March 9, 2015 (GLOBE NEWSWIRE) -- Sonoco (NYSE:SON), one of the largest diversified global packaging companies, today announced the signing of a definitive agreement to acquire a majority interest in Graffo Paranaense de Embalagens S/A (Graffo), a closely held flexible packaging business located in Pinhais, Curitiba, Brazil. Terms were not disclosed, and the transaction is expected to close in the second quarter of 2015. Founded in 2001, Graffo had sales of approximately $35 million USD in 2014. It operates high-quality rotogravure printing presses, including a new 10-color press, as well as sophisticated lamination applications at its Pinhais facility. With approximate... Posted Monday, March 9, 2015 7:30 am EDT

 
Sonoco's EcoTect(R) Uncoated Recycled Board (URB) First to be Certified to Hewlett-Packard Indigo Specifications
HARTSVILLE, S.C., Feb. 25, 2015 (GLOBE NEWSWIRE) -- Sonoco (NYSE:SON), one of the largest diversified global packaging companies and a leader in innovative packaging solutions, announced today that its EcoTect® premium grade of uncoated recycled board (URB), specifically manufactured for superior printability, has become the first URB to be certified by the Rochester Institute of Technology to Hewlett-Packard (HP) Indigo print platform specifications. This paper innovation is revolutionary for the printing industry where customized, short runs of folding carton products and packaging – an option that was not available before now – can be created with Sonoco EcoTect on the HP Indigo 5500,... Posted Wednesday, February 25, 2015 10:05 am EST

 
Sonoco to Help Small and Diverse Businesses Become Sustainable
HARTSVILLE, S.C., Feb. 24, 2015 (GLOBE NEWSWIRE) -- Sonoco (NYSE:SON), one of the largest global diversified packaging companies, today announced a partnership with ACF Enterprises, a WBENC-certified training company, to launch a Supplier Sustainability Engagement Initiative. The goal of the initiative is to assist small firms in developing a sustainability program by providing guidance and access to powerful learning tools, such as webinars, templates, worksheets and online courses. "Sustainability is increasingly at the forefront of sourcing decision-making," said Marc Ensign, director, Category Management, Supplier Diversity and Sustainability for Sonoco. "This training should mak... Posted Tuesday, February 24, 2015 7:30 am EST

 
Richard G. Kyle Elected to Sonoco's Board of Directors
HARTSVILLE, S.C., Feb. 23, 2015 (GLOBE NEWSWIRE) -- Sonoco (NYSE:SON), one of the largest global diversified packaging companies, has elected Richard G. Kyle to its Board of Directors. Mr. Kyle is president, chief executive officer and board member of The Timken Company (NYSE:TKR). A $3.1 billion global company headquartered in North Canton, Ohio, Timken engineers, manufactures and markets Timken® bearings, transmissions, gearboxes, chain and related products, and offers a spectrum of power system rebuild and repair services. Prior to being elected president and CEO in 2014, Mr. Kyle served as chief operating officer of Timken's Bearings and Power Transmission Group; previously he was gr... Posted Monday, February 23, 2015 8:00 am EST

 
Sonoco Reports Record Base Fourth Quarter, Full-Year 2014 Results
HARTSVILLE, S.C., Feb. 12, 2015 (GLOBE NEWSWIRE) -- Sonoco (NYSE:SON), one of the largest diversified global packaging companies, today reported record base financial results for its fourth quarter and full-year 2014. Fourth Quarter Highlights Fourth quarter 2014 GAAP earnings per diluted share were $.53, compared with $.53 in 2013. Fourth quarter 2014 GAAP results include $.13 per diluted share, after-tax, in asset impairments and restructuring charges, along with acquisition expenses and acquisition inventory step-up costs. Fourth quarter 2013 GAAP results included after-tax charges of $.05 per diluted share related to restructuring costs from international plant closures... Posted Thursday, February 12, 2015 7:30 am EST

 
Sundaram Nagarajan Elected to Sonoco's Board of Directors
HARTSVILLE, S.C., Feb. 11, 2015 (GLOBE NEWSWIRE) -- Sonoco (NYSE:SON), one of the largest global diversified packaging companies, has elected Sundaram Nagarajan to its Board of Directors. Mr. Nagarajan is executive vice president of Illinois Tool Works, Inc., (NYSE:ITW) and has worldwide responsibility for the company's Automotive OEM segment, which produces components and fasteners for automotive-related applications. He originally joined Hobart Brothers in 1991, which was acquired by ITW in 1996. After holding various roles of increasing responsibility at Hobart Brothers, Mr. Nagarajan was promoted to group vice president of ITW's Welding Group in 2006 and group president of Welding In... Posted Wednesday, February 11, 2015 4:16 pm EST

 
 UPM Kymmene
( Last updated Wednesday, April 1, 2015 8:06 pm EDT)
 USG-formerly United States Gypsum
( Last updated Wednesday, April 1, 2015 8:06 pm EDT)
USG Corporation Announces Settlement of Tender Offer for 8.375% Senior Notes Due 2018 and Completion of Private Offering of 5.50% Senior Notes Due 2025
CHICAGO--(BUSINESS WIRE)--Feb. 24, 2015-- USG Corporation (NYSE:USG) (“USG”) announced today the settlement of the previously announced cash tender offer (the “Tender Offer”) for any and all of its outstanding 8.375% Senior Notes due 2018 (the “2018 Notes”). The Tender Offer expired at 5:00 p.m., New York City time, on February 23, 2015 (the “Expiration Time”). At the Expiration Time, valid tenders had been received with respect to approximately $126 million of the $350 million aggregate principal amount of the 2018 Notes outstanding. USG has accepted for payment all 2018 Notes validly tendered prior to the Expiration Tim... Posted Tuesday, February 24, 2015 12:32 pm EST

 
USG Unveils New USG Securock® Brand Concrete Roof Deck Panel at International Roofing Expo, February 24-26, 2015, New Orleans
Chicago -- (February 24, 2015) – USG Corporation (NYSE:USG), a leading building materials manufacturer, unveiled its latest roofing innovation USG Securock® Brand Concrete Roof Deck Panel, today at the International Roofing Expo (IRE), in New Orleans. USG Securock Concrete Roof Deck Panel is a durable structural panel that can be combined with other noncombustible materials to create a one- and two-hour fire-rated roof-ceiling assembly. This product introduces a new category within USG’s high-performance roofing portfolio. “While best known for our USG Securock roof boards, this product allows us to provide a more comprehensive roofing solution to better meet the needs... Posted Tuesday, February 24, 2015 11:02 am EST

 
USG Corporation Announces Pricing of Offering of 5.50% Senior Notes Due 2025
CHICAGO--(BUSINESS WIRE)--Feb. 17, 2015-- USG Corporation (NYSE:USG) today announced the pricing of a private offering of $350 million aggregate principal amount of its 5.50% senior notes due 2025 (the “New Notes”). The New Notes will be the unsecured obligations of USG, and USG’s obligations under the New Notes will be guaranteed on a senior unsecured basis by certain of its domestic subsidiaries. The offering of the New Notes is expected to close on February 24, 2015. USG intends to use all or a portion of the net proceeds from the offering of New Notes to repurchase its outstanding 8.375% Senior Notes due 2018 (... Posted Tuesday, February 17, 2015 4:05 pm EST

 
USG Corporation Announces Launch of Senior Notes Offering
CHICAGO--(BUSINESS WIRE)--Feb. 17, 2015-- USG Corporation (NYSE:USG) today announced that it launched a private offering of $350 million aggregate principal amount of senior notes (the “New Notes”). The New Notes will be the unsecured obligations of USG. USG’s obligations under the New Notes will be guaranteed on a senior unsecured basis by certain of its domestic subsidiaries. USG intends to use all or a portion of the net proceeds from the offering of New Notes to repurchase its outstanding 8.375% Senior Notes due 2018 (the “2018 Notes”) that are tendered pursuant to the cash tender offer that USG commenced today and to... Posted Tuesday, February 17, 2015 9:05 am EST

 
USG Corporation Announces Cash Tender Offer for 8.375% Senior Notes Due 2018
CHICAGO--(BUSINESS WIRE)--Feb. 17, 2015-- USG Corporation (NYSE:USG) (“USG”) today announced the commencement of a cash tender offer (the “Tender Offer”) for any and all of its outstanding 8.375% Senior Notes due 2018 (the “Notes”). The Tender Offer is being made on the terms and subject to the conditions set forth in the Offer to Purchase dated February 17, 2015 (the “Offer to Purchase”) and the related Letter of Transmittal (the “Letter of Transmittal”). The Tender Offer will expire at 5:00 p.m., New York City time, on February 23, 2015, unless extended or earlier terminated as described in the Offer to Purchase (such t... Posted Tuesday, February 17, 2015 9:04 am EST

 
USG Corporation Reports 2014 Fourth Quarter and Full Year Results
CHICAGO--(BUSINESS WIRE)--Feb. 5, 2015-- USG Corporation (NYSE:USG): Fourth Quarter 2014 vs. Fourth Quarter 2013 Consolidated Business Highlights Net sales increased 4 percent to $954 million Operating loss of $24 million compared to $60 million of operating profit due primarily to asset impairments used in non-core shipping business Adjusted operating profit of $79 million compared to $75 million Net loss attributable to USG of $53 million compared to $3 million Adjusted net income of $35 million compared to $22 m... Posted Thursday, February 5, 2015 8:30 am EST

 
USG Corporation Fourth Quarter 2014 and Full Year 2014 Earnings Conference Call and Webcast
CHICAGO--(BUSINESS WIRE)--Jan. 22, 2015-- USG Corporation (NYSE:USG), a leading building products company, will hold a conference call and webcast to discuss fourth quarter 2014 and full year 2014 results on Thursday, February 5, 2015, at 9:00 a.m. Eastern time (8:00 a.m. Central time). This call and webcast can be accessed at USG’s website at http://investor.usg.com. To participate by phone, please dial 1-800-315-2944 (U.S. & Canada). International callers should dial 1-847-413-2929. Please call ten minutes prior to start time. The pass code is 38672587. A replay of the webcast will be available on the US... Posted Thursday, January 22, 2015 9:30 am EST

 
New USG Packaging, Same Great USG Products
Introducing Simple, Easy-to-Read New Packaging -- Compliant with New OSHA Mandate effective June 1, 2015 CHICAGO--(BUSINESS WIRE)--Dec. 2, 2014-- USG Corporation (NYSE:USG), a leading building products company, introduces new product packaging designed to make packaging simpler and clearer for users. This follows on the heels of the company’s new brand identity launched last year and leads the charge on compliance with the 2015 OSHA mandate to standardize global hazardous material warnings which goes into effect on June 1, 2015. USG products will be easier to buy due to common brand families and color schemes that hel... Posted Tuesday, December 2, 2014 3:00 pm EST

 
 Verso Paper
( Last updated Wednesday, April 1, 2015 8:06 pm EDT)
Verso Introduces New Coated Web Product Lineup
Verso Introduces New Coated Web Product Lineup Posted Monday, March 16, 2015 8:00 am EDT

 
Verso Corporation Reports Fourth Quarter and Year-End 2014 Results
Verso Corporation Reports Fourth Quarter and Year-End 2014 Results Posted Friday, March 6, 2015 7:00 am EST

 
Verso Project Uncovers Vernal Pools on Michigan State Forest Lands
Verso Project Uncovers Vernal Pools on Michigan State Forest Lands Posted Tuesday, March 3, 2015 8:00 am EST

 
Verso to Report Fourth Quarter and 2014 Results and Host Conference Call on March 6
Verso to Report Fourth Quarter and 2014 Results and Host Conference Call on March 6 Posted Friday, February 20, 2015 7:00 am EST

 
Verso Completes Acquisition of NewPage
Verso Completes Acquisition of NewPage Posted Wednesday, January 7, 2015 11:36 am EST

 
Verso Settles With U.S. Department of Justice Regarding Pending Acquisition of NewPage
Verso Settles With U.S. Department of Justice Regarding Pending Acquisition of NewPage Posted Wednesday, December 31, 2014 10:47 am EST

 
Verso Paper Corp. Reports Third Quarter 2014 Results
Verso Paper Corp. Reports Third Quarter 2014 Results Posted Thursday, November 13, 2014 7:00 am EST

 
Verso to Report Third Quarter Results and Host Conference Call on November 13
Verso to Report Third Quarter Results and Host Conference Call on November 13 Posted Friday, October 17, 2014 7:00 am EDT

 


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