Courier’s revenues for the quarter ended March 24 were $62.4 million, down slightly from last year’s second-quarter revenues of $62.7 million. However, its net income of $440,000 represents an improvement over last year’s second-quarter net loss of $4.8 million.
Notwithstanding the challenges arising from ongoing structural changes in the print media market, the KBA group met all its capital requirements from a healthy operating cash flow of €83.9 million, scaled back bank debts still further and boosted liquid assets.
Verso Paper's debt will eventually crumple up the stock. It's a shame too, because without the interest expense, this would be a fine, profitable company. By charging exorbitant rates, the debtholders plan on gouging the company, taking a pound of flesh every year, up until the company's inevitable demise of 2019 or earlier, where they'll wipe out the equity holders and take it over.
In the quarter, Presstek reported total revenue of $29.8 million compared to $31.1 million in the fourth quarter of 2010, and adjusted EBITDA of negative $0.9 million compared to $0.6 million in the prior year fourth quarter.
SUSSEX, WI—Quad/Graphics Inc. recorded fourth-quarter and full-year 2011 results that surpassed management’s previously announced guidance. The report included the company’s Canadian operations, which are in the process of being sold, unless otherwise noted.
If you have any money sitting around collecting essentially no interest, you might want to consider loaning your business some money. If you don’t need to buy anything, consider paying down some debt and save yourself some interest costs.
Catalyst was unable to meet the two conditions of its previously announced recapitalization transaction under the Canada Business Corporations Act, so its board has approved a filing for an Initial Order to commence proceedings under the Companies’ Creditors Arrangement Act.
AlphaGraphics of Canton, MI, achieved the best overall loyalty rating, with 98 percent of its customers stating they were “Very Likely” to recommend the shop to colleagues and friends based on its performance for the fourth quarter of 2011.
The Canadian papermaker has worked out a proposed deal with many of its bondholders that would enable it to avoid bankruptcy, but would turn up to 99.5 percent of its stock over to the bondholders in exchange for debt reduction. The announcement didn’t mention that Catalyst would file a Chapter 15 case in U.S. Bankruptcy Court asking that Canadian courts have jurisdiction over its recapitalization.
Catalyst is still in business and has not repudiated debts owed to vendors, employees, or retirees, but isn’t it splitting hairs to claim that a case filed in bankruptcy court is not a bankruptcy proceeding?
Contrary to certain media reports, this is not a bankruptcy proceeding. Catalyst Paper will continue to operate and satisfy its obligations to trade creditors, customers, employees and retirees in the ordinary course of business during this restructuring process.
