TC Media sells its Saint-Jérôme weekly: Journal Le Nord

LSC Communications filed a WARN notice with the Indiana Department of Workforce Development on Sept. 1 announcing its intention to begin shuttering its Kendallville book manufacturing facility located on Marion Drive effective Oct. 1, impacting all 307 employees who work there. The Chicago-based printer's operation on Lester Drive in the same roughly-10,000-resident town in northeast Indiana will remain open. "At this time, the company anticipates that all employees will be permanently separated from employment with the company by December 23, 2020," wrote Rebecca Robertson, VP of human resources, in the WARN notice. "In connection with the plant closure, no employees will have bumping rights to displace other employees working for the company," she added. "We appreciate any support or assistance you or your office can provide to help employees affected by the plant closing in finding new positions."

Q4 2022 - Revenue of $1.94 billion, up 9.2 percent year-over-year or up 13.9 percent in constant currency. GAAP earnings per share (EPS) of $0.74, up $4.71 year-over-year. Prior year Q4 GAAP EPS includes an after-tax non-cash goodwill impairment charge of $4.38 per share. Operating cash flow of $186 million, down $12 million year-over-year. Free cash flow of $168 million, down $14 million year-over-year. FY 2022 - Revenue of $7.11 billion, up 1.0 percent year-over-year, or up 4.8 percent in constant currency. GAAP loss per share of $2.15, up $0.41 year-over-year. Both the current year and prior year include after-tax non-cash goodwill impairment charges of $2.54 and $4.08 per share, respectively. Operating cash flow of $159 million, down $470 million year-over-year. Free cash flow of $143 million, excluding a one-time product supply termination charge, down $418 million year-over-year.

Revenues decreased by $83.1 million, or 11.8%, from $705.8 million in the first quarter of 2020 to $622.7 million in the corresponding period of 2021. This decline is mainly attributable to lower volume in the Printing Sector due to the impact of the COVID-19 pandemic and the sale of the paper packaging operations, which occurred toward the end of the first quarter of the previous year. This decrease was partially mitigated by the solid organic growth in revenues in the Packaging Sector and the revenues generated by the acquisition of Artisan Complete Limited in the Printing Sector. Operating earnings increased by $6.4 million, or 15.7%, from $40.8 million in the first quarter of 2020 to $47.2 million in the first quarter of 2021. The increase in operating earnings is explained by the organic growth in the Packaging Sector. In addition, in the Printing Sector, initiatives to optimize operational efficiency and the Canada Emergency Wage Subsidy offset a majority of the decrease in volume. Net earnings attributable to shareholders of the Corporation increased by $21.3 million, from $6.4 million in the first quarter of 2020 to $27.7 million in the first quarter of 2021. This increase is mostly explained by the income tax expense related to the sale of the paper packaging operations in the first quarter of 2020, higher operating earnings and the decrease in net financial expenses resulting from a reduction in net indebtedness and a lower weighted average interest rate.