CBS News featured Onward Reserve, a valued Lett Direct client and The Dingley Press, a trusted partner in a segment that aired nationally this week. This informative story confirms the importance of catalogs as a major driver of traffic to the web. It’s very well done and we want to share this segment with you in case you missed it.
https://www.cbsnews.com/videos/printing-catalogs-is-a-booming-business-in-this-state/?utm_source=Lett+Direct+Subscribers+-+Updated&utm_campaign=97d482fee6-2017_09_20&utm_medium=email&utm_term=0_3f5db68a9d-97d482fee6-465671601&mc_cid=97d482fee6&mc_eid=6c15c235f5
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R.R. Donnelley & Sons Company announced it has expanded its digital printing capabilities with the installation of the EFI™ Nozomi C18000 Plus single-pass digital inkjet printer. Located at RRD’s Packaging facility that specializes in signage and displays near Milwaukee, Wisconsin, the single-pass digital press is expected to be operational by the fall of 2023. The press enables RRD to reduce time-to-market by 25%, maximize color and design options, and prioritize sustainability on large-format runs of a variety of different sized substrates while delivering consistent print quality. The Nozomi C18000 Plus press will drive high-volume production at speeds three to five times faster than scanning superwide-format printers. This press also expedites new job setup (in as little as seven minutes), prints up to six colors, and runs continuously without having to pause printing to reload. The new addition supports RRD’s commitment to providing the highest quality results to brands looking to make a splash with retail signage and displays made from boards and corrugated to poly-based substrates.
TC Transcontinental announced the acquisition of BGI Retail Inc., a full service in-store design and solution partner for retailers and global brands. This transaction, which follows the acquisition of Holland & Crosby Limited in October 2019 and Artisan Complete Limited in January 2020, is aligned with TC Transcontinental’s objective to continue growing in the in-store marketing (ISM) vertical, a market with significant opportunities where TC Transcontinental Printing’s ISM Group is already a leading player in Canada. Located in Paris, Ontario, BGI Retail employs 123 people and offers an integrated value proposition focused on in-house design, engineering, manufacturing, installation and management of retail solutions and brand-defining consumer experiences, for both retailers and global brands across North America. Its products and services include plastic and metal fabrication, millwork and fixturing, print and graphics, and decor. With this acquisition, TC Transcontinental Printing’s ISM Group now employs more than 700 people and, combined with recent new business, is expected to generate revenues of close to $200 million on an annualized basis.
*Revenue for the second quarter was $84.8 million higher than the previous year. Excluding incremental revenue from the First American acquisition, which closed on June 1, 2021, and business exits during the quarter, revenue increased $31.2 million, or 6.6% year-over-year. *The Payments segment delivered revenue growth of 65.7% over the previous year to $171.2 million. Excluding incremental revenue from the First American acquisition, Payments grew 6.7%. *Net income of $22.1 million included gains of $17.5 million from the sale of the Australian web hosting business and a call center facility, and also included an $8.0 million increase in First American acquisition amortization and an increase in interest expense of $11.9 million resulting from the acquisition transaction. Prior year net income included $15.9 million of acquisition transaction costs. *Cash flow from operations for the first half of the year was $72.2 million and capital expenditures were $45.3 million. Free cash flow was $26.9 million, a decrease of $10.3 million compared to the first half of 2021, and included increased interest payments of $28.8 million.