Standard Register Launches New Corporate Strategy, Posts Financial Results
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Adjusting for pension loss amortization and restructuring charges, non-GAAP net income was $4.2 million for the current quarter compared with non-GAAP net income of $2.3 million for the prior year quarter.
During the quarter, capital expenditures were $1.9 million and are expected to be in the range of $18-21 million for the year, the majority of which will support the advancement of our core growth solutions. Pension funding contributions were $8.0 million during the quarter and are expected to be approximately $30 million for the year. Non-GAAP cash on a net debt basis was $5.8 million positive for the quarter, driven by working capital improvements previously predicted.
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