Bertelsmann exits gravure with final Prinovis plant closure (printweek.com)

Allen Press, Inc. is the recipient of seven awards from Printing Impressions’ 2017 Gold Ink Awards. Printing Impressions announced the winners in Philadelphia, Pa. on September 6. The Gold Ink Awards is the industry’s most prestigious print competition with thousands of entries submitted each year from printers around the nation. Top printers submit categorical representations of their best work, which is then evaluated by a panel of expert judges. Allen Press’ submissions received two gold winners, two silver winners, one bronze winner and two pewter winners. As further recognition of its continuing commitment to serve the scholarly market, Allen Press swept the Scientific and Technical Journal category – winning awards in gold, silver, bronze and pewter. Proving regardless of size its capabilities, expertise and determination in that arena are second to none. Not only did the Allen Press winning entries surpass competitors based on print and finishing quality, technical difficulty and overall visual effect, the work also showed what is possible for other creatives in the printing industry. Click Read More below for additional detail.

Recent Highlights *Increased Net Sales 1% (3% excluding divestitures) in 2021, driven by higher print volumes, including print segment share gains from new clients, growth in Agency Solutions Net Sales, and increased pricing in response to inflationary cost pressures. *Delivered $38 million of Net Earnings From Continuing Operations in 2021 and Adjusted Diluted Earnings Per Share From Continuing Operations of $0.60 per share in 2021 compared to $0.29 per share in 2020. *Generated $137 million of Net Cash From Operating Activities and Free Cash Flow of $87 million in 2021. *Divested non-core assets, generating $166 million of cash proceeds in 2021. *Reduced Net Debt by $410 million or 40% over the past two years, reaching Debt Leverage of 2.5x.

For the nine months ended September 30, 2017, the Company reported revenue of $724.1 million, down 0.2% year-over-year compared to $725.4 million for the same period in 2016. GAAP net income was $9.4 million or $0.20 per diluted share, compared to $25.0 million or $0.52 per diluted share for the same period in 2016. Non-GAAP net income was $74.0 million or $1.57 per diluted share, compared to non-GAAP net income of $80.5 million or $1.68 per diluted share for the same period in 2016. Cash flow from operating activities for the nine months ended September 30, 2017, was $42.4 million, down 24% compared to $55.8 million during the same period in 2016. "We are clearly disappointed in the third quarter results, which fell below our expectations largely due to delayed deals in our direct business," said Guy Gecht, CEO of EFI. "To reaccelerate growth, we are reallocating budget and talent toward our largest opportunities, in textile and packaging, along with making organizational changes and adding senior positions to improve focus and execution." Click Read More below for additional information.