Worzalla Celebrates Associates in Month-Long “WorzallaPalooza”

The commercial printing industry will grow in 2021. Growth will begin during the second quarter, and accelerate through year end. No company, however, should count on the upturn or the shakeout of weak competitors to make everything right. Much will be different in the post-COVID world. And much of the gains ahead will be reserved for companies already thinking about those differences, and how to make them opportunities rather than threats. Those conclusions are based on the COVID-19 Print Business Indicators Survey, conducted every other month by PRINTING United Alliance and NAPCO Research. Nearly 200 commercial printers participate. The diverse group has annual sales ranging from less than $1 million to more than $700 million, and is located across the U.S. and Canada. We measure percent change in sales in two ways. Year-over-year is the first to capture the depth and breadth of the downturn. Among all companies surveyed, sales fell 16.9%, on average, during the first three quarters of 2020 compared with year earlier levels, declining for 81.9% — by at least 20% for more than half and at least 30% for nearly one-third — and increasing for just 17%. One participant speaks for many when he describes what’s happened this year as a “seismic downturn.”

Paul Ramirez, president of Barrington Press in Paramus, New Jersey had a problem – his offset presses were offline as much as three hours a shift. The downtime, set-up and overtime costs made it difficult to keep jobs profitable. Knowing that delivering high quality printing with quick turnaround was critical to grow his business, Ramirez looked to Xerox for a solution and the answer was to go digital with the Xerox iGen® 5 Press. “If someone would have told me how much money I’d be saving each month using the Xerox iGen 5 Press, I wouldn’t have believed it,” says Ramirez. ”When we combined the excessive paper waste, overtime wages and offset press supplies, the numbers were staggering.” With its market leading uptime, substrate versatility and job automation features, the iGen 5 created a fundamental turnaround at Barrington Press. The figures tell the story. In the year Barrington Press has owned its iGen 5, the company has saved $10,000-$15,000 per month and has created new opportunities for growth. Click Read More below for additional information.

*Revenue for the third quarter was $92.6 million higher than the previous year. Not including the First American acquisition, which closed on June 1, 2021, revenue increased $10.1 million, or 2.3% year-over-year. *The Payments segment delivered revenue growth of 114.6% over the previous year to $160.3 million, $82.5 million of which was from First American. *Net income of $12.5 million includes $11.9 million in acquisition amortization from the First American acquisition, as well as increased interest expense associated with the transaction. *Cash flow from operations for the third quarter was $65.4 million and capital expenditures were $34.5 million. Free cash flow, defined as cash provided by operating activities less capital expenditures, was $30.9 million, an increase of $11.6 million from the second quarter of 2021, and a decrease of $10.7 million compared to the third quarter of 2020, largely attributable to capital investments this year. *Total debt outstanding decreased from $1,833.4 million as of June 30, 2021 to $1,776.2 million as of September 30, 2021. Net debt was $1,655.1 million and liquidity was $433.6 million as of September 30, 2021.