• Login
    • Join
  • FOLLOW:
  • Subscribe Free
    • Magazine
    • eNewsletter
    Checkout
    • Magazine
    • News
    • Exclusives
    • Top Companies
    • Printing Inks
    • Raw Materials
    • Equipment
    • Directories
    • Events
    • Jobs
    • More
  • Magazine
  • News
  • Exclusives
  • Top Companies
  • Printing Inks
  • Raw Materials
  • Equipment
  • Directories
  • Events
  • Jobs
  • Current / Back Issues
    Features
    Columns
    Editorial
    Digital Edition
    eNewsletter Archive
    Our Team
    Editorial Guidelines
    Subscribe Now
    Advertise Now
    eBook
    Top Features
    The 2019 Year in Review

    Energy Curing Ink Markets are On the Rise

    Publication Ink Market Continues to Shrink

    Waxes and Additives Enjoy Growth in Packaging in 2019

    Ink Manufacturers Prepare For the Circular Economy
    Breaking News
    Distributor News
    Financial News
    Industry News
    Ink Manufacturers News
    Market Research
    Mergers and Acquisitions
    New Products
    Personnel
    Price Increases
    Printers News
    Suppliers News
    Live From Shows
    Top News
    Smurfit Kappa, Wings for Aid Create Disaster Relief Packaging Solution

    ePac Flexible Packaging Expands into Asia Pacific Market

    United Carton Industries Company Invests in EFI Nozomi Corrugated Printer

    Ink Industry Mourns Judith Zuckerman-Terner

    Ink Industry Mourns Jay Emerson Brooks
    Top North American Companies
    Top International Companies
    Conductive Inks and Printed Electronics
    Graphic Arts Coatings
    Inkjet Inks and Toners
    Marking and Pad Printing Inks
    News Inks
    Packaging Flexo Inks
    Packaging Gravure Inks
    Publication Gravure Inks
    Publication Offset Inks
    Screen Inks
    Sheetfed Inks
    Specialty Inks
    UV and EB Inks

    Smurfit Kappa, Wings for Aid Create Disaster Relief Packaging Solution

    ePac Flexible Packaging Expands into Asia Pacific Market

    United Carton Industries Company Invests in EFI Nozomi Corrugated Printer

    Ink Industry Mourns Judith Zuckerman-Terner

    Koenig & Bauer Promotes Preston Neetzel to Director of Flexo Sales
    Additives
    Energy-Curable Materials
    Flushed Colors and Pigments
    Metallics and Special Effects Pigments
    Resins
    Vehicles and Varnishes
    Waxes

    Ink Industry Mourns Jay Emerson Brooks

    Evonik, Wynca Celebrate Groundbreaking of New Fumed Silica Plant in Zhenjiang

    Industrial Wax Market Worth $12,556.8 Million by 2026: PMR

    RadTech Europe Conference Tackles Busy Agenda

    Brenntag Distributes Grupa Azoty ZAK S.A. Plasticizer Portfolio in DACH Region
    Energy-Curing Equipment
    Mills and Mixers
    Testing, Color and QC

    RadTech Europe Conference Tackles Busy Agenda

    Jennifer Heathcote Joins GEW

    8000th Apprentice Starts Career with Bühler

    NAPIM Announces New Address, Telephone Number

    Phoseon Launches FireJet FJ801
    Buyers Guide
    Distributor Guide
    European Ink Directory
    U.S. Ink Directory
    International Buyers Guide Companies
    Keim-Additec Surface USA, LLC

    Formulator Software, LLC

    Micro Powders, Inc.

    Evonik Corporation

    Ferro Corp.
    Industry Events
    Live from Show Event
    Webinars
    • Magazine
      • Current / Back Issues
      • Features
      • Editorial
      • Departments
      • Columns
      • Digital Edition
      • eNewsletter Archive
      • Editorial Guidelines
      • Subscribe Now
      • Advertise Now
    • Breaking News
    • Directory
      • Buyers Guide
      • Distributor Guide
      • European Ink Directory
      • U.S. Ink Directory
      • Trade Associations
    • Printing Inks
      • Conductive Inks and Printed Electronics
      • Graphic Arts Coatings
      • Inkjet Inks and Toners
      • Marking and Pad Printing Inks
      • News Inks
      • Packaging Flexo Inks
      • Packaging Gravure Inks
      • Publication Gravure Inks
      • Publication Offset Inks
      • Screen Inks
      • Sheetfed Inks
      • Specialty Inks
      • UV and EB Inks
    • Raw Materials
      • Additives
      • Energy-Curable Materials
      • Flushed Colors and Pigments
      • Metallics and Special Effects Pigments
      • Resins
      • Vehicles and Varnishes
      • Waxes
    • Equipment
      • Energy-Curing Equipment
      • Mills and Mixers
      • Testing, Color and QC
    • Top Companies
      • Top North American Companies
      • Top International Companies
    • Online Exclusives
    • Slideshows
    • Expert's Opinion
    • Videos
    • eBook
    • Podcasts
    • Blog
    • Infographics
    • Whitepapers
    • Jobs
    • Supplier Microsites
      • Companies
      • Literature / Brochures
      • Whitepapers
      • Product Spec Sheets
      • Videos
      • Jobs
    • Events
      • Industry Events
      • Live From Show Events
      • Webinars
    • About Us
      • About Us
      • Contact Us
      • Advertise With Us
      • Privacy Policy
      • Terms of Use
    Breaking News

    CCL Industries Announces 1Q 2017 Results

    Sales for the first quarter of 2017 increased 22.5% to $1,061.5 million.

    Related CONTENT
    • CCL Industries Inc. Appoints Two New Directors
    • Packaging Corporation of America Reports 4Q, Full Year 2016 Results
    • CCL Industries Announces India Entry for CCL Label
    • Heidelberg Significantly Increases Net Result After Taxes in 3Q 2016/2017
    • Sensient Technologies Reports Results for the Quarter and Year Ended Dec. 31, 2016
    05.10.17
    CCL Industries Inc. reported 2017 first quarter results. Sales for the first quarter of 2017 increased 22.5% to $1,061.5 million, compared to $866.8 million for the first quarter of 2016, with 2.1% organic growth, 4.7% negative currency translation impact and 25.1% acquisition-related growth, primarily driven by the acquisition of Checkpoint Systems, Inc. on May 13, 2016, and Innovia on February 28, 2017.
     
    Operating income for the first quarter of 2017 was $158.9 million, an increase of 6.0% compared to $149.9 million for the comparable quarter of 2016. Included in the 2017 first quarter was an $8.8 million non-cash acquisition accounting adjustment related to the acquired finished goods inventory from the Innovia acquisition that was expensed in the company’s cost of sales for the quarter. Excluding this non-cash adjustment, operating income was $167.7 million for the first quarter of 2017. Excluding the impact of currency translation and the non-cash accounting adjustment, operating income improved 17.1%.
     
    Net earnings were $87.8 million for the 2017 first quarter compared to $89.7 million for the 2016 first quarter.
     
    “First quarter results were highlighted by solid profitability from our newly configured CCL Segment on 6.8% organic growth over a strong prior year period, albeit aided by the timing of Easter in 2017; results especially strong at CCL Design and in Food & Beverage markets,” Geoffrey T. Martin, president and CEO, said. “Avery performance was below prior year in the US on soft sales to the superstore and wholesaler channels, but prospects for 2017’s back-to-school peak season are comparatively improved over recent years. CCL Container began the exit process from our Canadian plant on the previously announced loss of a large Homecare application; we expect this challenging transition to continue for another quarter or two, stabilizing before the end of 2017. Checkpoint’s solid profit in their seasonally low quarter confirms the success of our reorganization initiative; the plan completes this summer.
     
    “We closed the acquisition of the Innovia Group on February 28, 2017, for $1.15 billion with customers and employees pleased to see the business under long-term ownership,” Martin added. “First results for the month of March met expectations. A modest $5.0 million restructuring plan focused on eliminating duplicate corporate functions will complete over the balance of the year. We continue to be excited by the opportunities for Innovia and our new CCL Secure business.
     
    “With the $1.15 billion acquisition of Innovia complete, the Company’s net leverage ratio, including the trailing results of the acquired business, increased to 2.4 times EBITDA, at the end of the first quarter,” Martin concluded. “With cash-on-hand of $519 million, undrawn capacity of US$213 million on our syndicated revolving credit facility, the balance sheet and liquidity positions of the company remain strong.”
    Related Searches
    • sales
    • ccl industries
    • Packaging Flexo Inks
    • Packaging Gravure Inks
    Related Knowledge Center
    • Packaging Gravure Inks
    • Conductive Inks and Printed Electronics
    • Packaging Flexo Inks
    Suggested For You
    Cimpress Reports 3Q 2017 Financial Results Cimpress Reports 3Q 2017 Financial Results
    Coveris Reports First Quarter 2017 Financial Results Coveris Reports First Quarter 2017 Financial Results
    CCL Industries Inc. Approves Five-for-One Stock Split CCL Industries Inc. Approves Five-for-One Stock Split
    Arkema Announces First Quarter 2017 Results Arkema Announces First Quarter 2017 Results
    International Paper Reports 1Q 2017 Earnings International Paper Reports 1Q 2017 Earnings
    Sensient Technologies Reports Results for 1Q 2017 Sensient Technologies Reports Results for 1Q 2017
    Sonoco Reports 1Q 2017 Results Sonoco Reports 1Q 2017 Results
    CCL Industries Announces Two European Acquisitions for Avery CCL Industries Announces Two European Acquisitions for Avery
    CCL Completes Innovia Acquisition CCL Completes Innovia Acquisition
    CCL Industries Announces a Proposed Five-for-One Stock Split CCL Industries Announces a Proposed Five-for-One Stock Split
    Cenveo Reports Fourth Quarter and Full Year 2016 Results Cenveo Reports Fourth Quarter and Full Year 2016 Results
    Sensient Technologies Reports Results for the Quarter and Year Ended Dec. 31, 2016 Sensient Technologies Reports Results for the Quarter and Year Ended Dec. 31, 2016
    Heidelberg Significantly Increases Net Result After Taxes in 3Q 2016/2017 Heidelberg Significantly Increases Net Result After Taxes in 3Q 2016/2017
    CCL Industries Announces India Entry for CCL Label CCL Industries Announces India Entry for CCL Label
    Packaging Corporation of America Reports 4Q, Full Year 2016 Results Packaging Corporation of America Reports 4Q, Full Year 2016 Results

    Related Breaking News

    • Breaking News | Packaging Flexo Inks | Packaging Gravure Inks | Printers News
      Smurfit Kappa, Wings for Aid Create Disaster Relief Packaging Solution

      Smurfit Kappa, Wings for Aid Create Disaster Relief Packaging Solution

      Pack fully protects eggs in 100m (328 ft.) height drop.
      12.13.19

    • Breaking News | Packaging Flexo Inks | Personnel | Printers News
      Koenig & Bauer Promotes Preston Neetzel to Director of Flexo Sales

      Koenig & Bauer Promotes Preston Neetzel to Director of Flexo Sales

      During the past 18 months, Neetzel reported to web & specialty VP Jeff Dietz as the division’s technical sales manager for Koenig & Bauer-Flexotecnica.
      12.12.19

    • Breaking News | Graphic Arts Coatings | Ink Manufacturers News | Inkjet Inks and Toners | Packaging Flexo Inks | Packaging Gravure Inks | Publication Gravure Inks | UV and EB Inks
      Siegwerk Opens Europe’s Largest Fully Automated Printing Inks Production Facility

      Siegwerk Opens Europe’s Largest Fully Automated Printing Inks Production Facility

      “The opening of this facility is an unparalleled milestone for us," CEO Herbert Forker said.
      12.11.19


    • Breaking News | Packaging Flexo Inks | Packaging Gravure Inks | Printers News | Sheetfed Inks
      Smurfit Kappa Launches 4th Edition of Culture Book

      Smurfit Kappa Launches 4th Edition of Culture Book

      A document that brings together the work that has been carried out all over the world by the company in communities.
      12.11.19

    • Breaking News | Packaging Flexo Inks | Printers News

      Inland Moves Flexo Press from La Crosse, WI to Neenah, WI

      The move adds additional capacity and allows the Neenah plant to gain and support new business.
      12.10.19

    • Breaking News | Ink Manufacturers News | Packaging Flexo Inks | Packaging Gravure Inks | Printers News
      UFlex Demos Rotoflex Stanmas 20 at Open House

      UFlex Demos Rotoflex Stanmas 20 at Open House

      A special-purpose 4-color Rotogravure Printing Machine designed especially to print on aluminum foil.
      12.09.19


    • Breaking News | Packaging Flexo Inks | Printers News
      Berlin Packaging Wins 2 WorldStar Awards

      Berlin Packaging Wins 2 WorldStar Awards

      There were 321 judged packaging projects from 36 countries.
      12.09.19

    • Breaking News | Packaging Flexo Inks | Printers News
      Müroll GmbH Invests in 1st Nilpeter FA-22

      Müroll GmbH Invests in 1st Nilpeter FA-22

      Müroll GmbH is based in Frastanz, Austria, and has an additional two European production sites.
      12.09.19

    • Breaking News | Ink Manufacturers News | Inkjet Inks and Toners | Packaging Flexo Inks | Printers News
      Labelexpo Expands Show Portfolio in China

      Labelexpo Expands Show Portfolio in China

      This takes its total number of printing trade expos in the country to three.
      12.04.19


    • Breaking News | Packaging Flexo Inks | Printers News
      FLAG Announces New 2020 Programs

      FLAG Announces New 2020 Programs

      Both of the new programs are based on input from current members.
      12.04.19

    • Additives | Breaking News | Conductive Inks and Printed Electronics | Energy-Curable Materials | Energy-Curing Equipment | Flushed Colors and Pigments | Graphic Arts Coatings | Ink Manufacturers News | Inkjet Inks and Toners | Marking and Pad Printing Inks | Metallics and Special Effects Pigments | Mills and Mixers | News Inks | Packaging Flexo Inks | Packaging Gravure Inks | Publication Gravure Inks | Publication Offset Inks | Resins | Screen Inks | Sheetfed Inks | Specialty Inks | Suppliers News | Testing, Color and QC | UV and EB Inks | Vehicles and Varnishes | Waxes
      NAPIM Announces New Address, Telephone Number

      NAPIM Announces New Address, Telephone Number

      Moving to Rockford, IL before 2020.
      12.03.19

    • Breaking News | Inkjet Inks and Toners | Packaging Flexo Inks | Printers News
      BOBST Showcasing Packaging Production 4.0 at drupa 2020

      BOBST Showcasing Packaging Production 4.0 at drupa 2020

      drupa 2020 takes place June 16-26 in Dusseldorf, Germany.
      12.03.19

    • Breaking News | Packaging Flexo Inks | Printers News | UV and EB Inks
      Sigma Installs Russia

      Sigma Installs Russia's First Mark Andy Performance Series P4

      Joins Sigma’s existing four Mark Andy 2200 presses.
      12.03.19

    • Breaking News | Inkjet Inks and Toners | Packaging Flexo Inks | Printers News | UV and EB Inks
      Mayer-Kuvert Buys 2 W+D 628 Envelope Machines with HD Flexo, LED UV

      Mayer-Kuvert Buys 2 W+D 628 Envelope Machines with HD Flexo, LED UV

      The company plans to produce mainly medium runs and up to 200 million envelopes per year per machine.
      12.02.19

    • Breaking News | Graphic Arts Coatings | Ink Manufacturers News | Packaging Flexo Inks
      WEILBURGER Graphics Celebrates 140th Anniversary

      WEILBURGER Graphics Celebrates 140th Anniversary

      The event included live entertainment, food and networking.
      12.02.19

    Breaking News
    • ePac Flexible Packaging Expands into Asia Pacific Market
    • Smurfit Kappa, Wings for Aid Create Disaster Relief Packaging Solution
    • United Carton Industries Company Invests in EFI Nozomi Corrugated Printer
    • Ink Industry Mourns Judith Zuckerman-Terner
    • Ink Industry Mourns Jay Emerson Brooks
    View Breaking News >
    CURRENT ISSUE

    November/December 2019

    • The 2019 Year in Review
    • Energy Curing Ink Markets are On the Rise
    • Publication Ink Market Continues to Shrink
    • Waxes and Additives Enjoy Growth in Packaging in 2019
    • Ink Manufacturers Prepare For the Circular Economy
    • 2019 NPIRI Conference Features Sustainability, Regulatory, Technical Issues
    • NPIRI 2019 Award Winners
    • Sheree Eberly – INX International Ink Co.
    • John Jilek Jr., Inksolutions LLC
    • Conductive Ink Conference Highlights Latest Trends
    • View More >
    • About Us
    • Privacy Policy
    • Terms And Conditions
    • Contact Us

    follow us

    Subscribe
    Nutraceuticals World

    Latest Breaking News From Nutraceuticals World

    Deerland Obtains Certification from Australia’s Therapeutic Goods Administration
    OptiMSM Shown to Improve Hair & Nail Appearance and Condition
    DCC Acquires Contract Manufacturer Ion Laboratories
    Coatings World

    Latest Breaking News From Coatings World

    Arkema: Bostik Acquires Danish Company LIP
    Axalta Adds New Epoxy Primer to Tufcote Liquid Industrial Coatings Portfolio
    Chromaflo Technologies Promotes Sergio Duenas to Country Manager of Mexico
    Medical Product Outsourcing

    Latest Breaking News From Medical Product Outsourcing

    FDA OKs World's First Single-Use Duodenoscope
    Dr. Stephen Hahn Confirmed as New FDA Leader
    FDA OKs First Test to Help Screen for Newborn Duchenne Muscular Dystrophy
    Contract Pharma

    Latest Breaking News From Contract Pharma

    Sanofi Awarded $226M by US Gov't for Pandemic Influenza Preparedness
    Amgen Selects Location For R&D Facility
    Arctoris Opens Oxford R&D Facility
    Beauty Packaging

    Latest Breaking News From Beauty Packaging

    Time Features 5 Best Beauty Inventions
    CES 2020 Preview - Innovation Award Honorees in Health & Wellness
    Prada & L’Oréal Sign Long-Term Licensing Deal
    Happi

    Latest Breaking News From Happi

    Cosmetic Assessments Revealed at CIR Panel
    T-Boz Launches CBD Line
    DRF and Flowerkist Develop CBD Range
    Ink World

    Latest Breaking News From Ink World

    Ripon Printers Adds Ricoh Pro C9210
    LogoJet Opens Bogota, Colombia Office
    Canon Solutions America Powers University of Notre Dame Athletics' Printing Capabilities
    Label & Narrow Web

    Latest Breaking News From Label & Narrow Web

    GSE products provide quality assurance for Pharmalabel
    Luminer promotes Heather Bookman to prepress manager
    Materials Exchange launches to solve excess inventory issue
    Nonwovens Industry

    Latest Breaking News From Nonwovens Industry

    Bouckaert to Launch New Equipment
    DuPont to Acquire Osmosis Specialist
    Nice-Pak to Expand in Indiana
    Orthopedic Design & Technology

    Latest Breaking News From Orthopedic Design & Technology

    FDA OKs First Test to Help Screen for Newborn Duchenne Muscular Dystrophy
    Europe, North America Comprise More Than 80 Percent of Global Bone Marrow Transplantation Demand
    TriMed Closes Out FDA Warning Letter
    Printed Electronics Now

    Latest Breaking News From Printed Electronics Now

    3D Printing Materials Market to Grow at 23.9% CAGR Through 2025: GVR
    Kyocera, TactoTek Collaborate on Injection Molded Structural Electronics Solutions
    Toray Opens R&D Innovation Center for the Future

    Copyright © 2019 Rodman Media. All rights reserved. Use of this constitutes acceptance of our privacy policy The material on this site may not be reproduced, distributed, transmitted, or otherwise used, except with the prior written permission of Rodman Media.