Second quarter net sales were $848 million, down $58 million, or 6.4%, from the second quarter of 2016. The decrease in organic net sales was due to lower volume and price declines in both the Print and Office Products segments.
Second quarter 2017 net income was $5 million, or $0.12 per diluted share, compared to net income of $28 million, or $0.87 per diluted share, in the second quarter of 2016. Non-GAAP adjusted EBITDA in the second quarter of 2017 was $82 million, or 9.7% of net sales, compared to $93 million, or 10.3% of net sales, in the second quarter of 2016.
“In spite of disappointing educational book demand, we are pleased with our overall operating performance in the second quarter, which reflects our strong focus on productivity and cost control. As expected, we saw a significant improvement in our earnings trend compared to recent quarters,” said Thomas J. Quinlan III, LSC Communications’ chairman and CEO. “We are excited to have the talented people of Fairrington Transportation on board and look forward to CREEL Printing joining LSC Communications in the near future. We are updating our full year guidance to reflect the expected impact of these acquisitions and ongoing trends in our business.”