The 6 D’s of Direct Mail Defined (thysse.com)

Net sales for the first quarter ended March 31, 2018, were $968 million, representing a 3.1% decrease as compared to 2017. Organic sales declined 5.1% due to ongoing print industry volume and pricing pressures after excluding acquisitions (2.0% impact), pass-through paper sales (-0.2% impact) and foreign exchange (0.2% impact), and is consistent with previous guidance. The Company incurred a net loss of $3.5 million, or $0.07 per share, for the three months ended March 31, 2018, which included a special $22 million non-cash employee stock ownership plan contribution as part of the benefit of tax reform. Net cash provided by operating activities was $2 million for the first quarter 2018, compared to $63 million in the first quarter of 2017, and Free Cash Flow decreased $62 million to a negative $22 million. These variances were primarily due to expected timing differences in 2018 versus 2017 for cash generated from working capital, which will be weighted more towards the fourth quarter. Click Read More below for additional information.

In completing Phase 3, Sun Chemical registered approximately 200 chemical substances with the European Chemicals Agency (ECHA). These registrations emcompass all chemical substances manufactured or imported by the Performance Pigments division in excess of 1000kg per year. “After more than 10 years of extensive testing and risk evaluations, our broad portfolio of colorants and preparations have proven themselves safe for consumers and the environment,” said Gary Andrzejewski, Corporate Vice President Environmental Affairs. “Sun Chemical will continue to lead in product stewardship for the global pigments industry and institute processes to ensure compliance with future REACH requirements.” Click Read More below for additional information.

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.