LSC Communications Reports 2nd Quarter Results

LSC Communications, Inc. (NYSE: LKSD) today reported financial results for the second quarter of 2017.

2Q 2017 Highlights:

  • Net sales of $848 million compared to $906 million in the second quarter of 2016
  • GAAP net income of $5 million, or $0.12 per diluted share
  • Non-GAAP net income of $21 million, or $0.59 per diluted share
  • Non-GAAP adjusted EBITDA of $82 million, or 9.7% of net sales, compared to $93 million, or 10.3% of net sales, in the second quarter of 2016
  • Company updates full-year 2017 guidance

“In spite of disappointing educational book demand, we are pleased with our overall operating performance in the second quarter, which reflects our strong focus on productivity and cost control. As expected, we saw a significant improvement in our earnings trend compared to recent quarters,” said Thomas J. Quinlan III, LSC Communications’ Chairman and Chief Executive Officer. “We are excited to have the talented people of Fairrington Transportation on board and look forward to CREEL Printing joining LSC Communications in the near future. We are updating our full year guidance to reflect the expected impact of these acquisitions and ongoing trends in our business.”

Net Sales
Second quarter net sales were $848 million, down $58 million, or 6.4%, from the second quarter of 2016. After adjusting for the December 2, 2016 acquisition of Continuum and the March 1, 2017 acquisition of Hudson Yards, changes in foreign exchange rates, and pass-through paper sales, organic net sales decreased 6.8% from the second quarter of 2016. The decrease in organic net sales was due to lower volume and price declines in both the Print and Office Products segments.

read more/source: http://investor.lsccom.com/news-releases/2017/08-03-2017-113123025

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