02.23.18
LSC Communications, Inc. reported financial results for the fourth quarter of 2017.
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. The organic decrease in net sales was due to lower volume and price declines in the Print segment and price declines in the Office Products segment.
“We are very pleased with our free cash flow generation in the fourth quarter, and despite continued challenging industry conditions, we delivered increases in non-GAAP adjusted EBITDA and non-GAAP earnings per share,” said Thomas J. Quinlan III, LSC Communications’ chairman and CEO. “As we enter 2018, we are confident that LSC Communications is well positioned to further differentiate its industry-leading customer solutions and continue to deliver a solid balance sheet, strong cash flow and improved earnings.”
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. 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.
Net cash provided by operating activities was $147 million compared to $95 million in the fourth quarter of 2016, with non-GAAP free cash flow of $138 million compared to $82 million in the fourth quarter of 2016.
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. The organic decrease in net sales was due to lower volume and price declines in the Print segment and price declines in the Office Products segment.
“We are very pleased with our free cash flow generation in the fourth quarter, and despite continued challenging industry conditions, we delivered increases in non-GAAP adjusted EBITDA and non-GAAP earnings per share,” said Thomas J. Quinlan III, LSC Communications’ chairman and CEO. “As we enter 2018, we are confident that LSC Communications is well positioned to further differentiate its industry-leading customer solutions and continue to deliver a solid balance sheet, strong cash flow and improved earnings.”
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. 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.
Net cash provided by operating activities was $147 million compared to $95 million in the fourth quarter of 2016, with non-GAAP free cash flow of $138 million compared to $82 million in the fourth quarter of 2016.