LSC Communications Reports Fourth-Quarter and Full-Year 2017 Results
Fourth quarter net sales were $999 million, up $80 million, or 8.7%, from the fourth quarter of 2016. After adjusting for acquisitions, changes in foreign exchange rates, and pass-through paper sales, organic net sales decreased 4.6% from the fourth quarter of 2016. Fourth quarter 2017 net loss was $58 million, or $1.68 per diluted share, compared to net income of $9 million, or $0.26 per diluted share, in the fourth quarter of 2016. The effective tax rate for the fourth quarter of 2017 reflected $24 million of one-time provisional tax expense related to the enactment of the Tax Cuts and Jobs Act, which will be further detailed in the 2017 Form 10-K, as well as the impact from non-deductible goodwill impairment charges. Non-GAAP adjusted EBITDA in the fourth quarter of 2017 was $85 million, or 8.5% of net sales, compared to $80 million, or 8.7% of net sales, in the fourth quarter of 2016. Click Read More below for additional information.