On Thursday, Shares of Graphic Packaging Holding Company (NYSE:GPK), gained 4.67% to $14.11.
Graphic Packaging Holding Company, stated Net Income for third quarter 2015 of $60.2 million, or $0.18 per share, based upon 330.4 million weighted average diluted shares. This compares to third quarter 2014 Net Income of $53.0 million, or $0.16 per share, based on 330.6 million weighted average diluted shares.
Third quarter 2015 Net Income was negatively influenced by $5.8 million of special charges after taxes (primarily Charges Associated with Business Combinations). When adjusting for these charges, Adjusted Net Income for the third quarter of 2015 was $66.0 million, or $0.20 per diluted share. This compares to third quarter 2014 Adjusted Net Income of $57.5 million or $0.17 per diluted share.
“We delivered another solid quarter of performance, producing and selling more tons than a year ago and improving our Adjusted EBITDA margin by 20 basis points to 18.4%,” said Chairman and CEO David Scheible. The improvements were driven by our ongoing asset optimization strategies, acquisition integration and strong operating performance. We have generated nearly $60 million in productivity benefits through the first three quarters of the year, which puts us on track to deliver full-year performance benefits at the upper end of our range of $60-$80 million.”
Graphic Packaging Holding Company, together with its auxiliaries, provides paper-based packaging solutions to food, beverage, and other consumer products companies.
Shares of Jarden Corp (NYSE:JAH), declined -1.37% to $47.38, during its last trading session.
Jarden Corporation, declared the pricing of $300 million in aggregate principal amount of its senior notes (the “Notes”) due 2023 in a private offering to qualified institutional buyers following Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”), and to certain persons outside of the U.S. following Regulation S under the Securities Act. The Notes would be guaranteed by certain of the Company’s domestic auxiliaries. The Notes will pay interest semiannually at a rate of 5% per annum and will mature on November 15, 2023. The closing of the offering is predictable to occur on October 30, 2015, subject to the satisfaction of customary closing conditions.
The Company estimates that the net proceeds from the sale of the Notes will be about $293.5 million, after deducting estimated fees and expenses. The Company anticipates to use the net proceeds of the offering to fund a portion of the purchase price and related fees and expenses for the recently declared acquisition of Visant Holding Corp. (“Visant”), the parent company of Jostens, Inc. and the other entities composing the Jostens business (collectively, “Jostens”).
This press release shall not constitute an offer to sell or the solicitation of an offer to buy the Notes nor the related guarantees, nor shall there be any solicitation or sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful preceding to registration or qualification under the securities laws of any such state or jurisdiction.
Jarden Corporation manufactures, markets, and distributes consumer products worldwide. The company’s Outdoor Solutions segment offers camping and outdoor equipment; fishing and team sports equipment; alpine and nordic skiing, snowboarding, snowshoeing, and in-line skating products; technical and outdoor apparel and equipment; personal flotation devices, water sports equipment, and all-terrain vehicle gears; and inflatable air beds and accessories.
Finally, Shares of Cognizant Technology Solutions Corp (NASDAQ:CTSH), ended its last trade with 5.33% gain, and closed at $68.43.
Cognizant, declared it has been named a “Market Specialist” in Robotic Process Automation (RPA) by Mindfields Consulting, a Sydney-based administration advisory firm.
Mindfields evaluated 12 leading IT/business process outsourcing service providers on a wide range of parameters — counting execution, technology and market reach capabilities, and implementation/deployment successes — to rate the maturity, experience, expertise and scale of their robotic automation initiatives. The report titled “Robotic Process Automation: Driving the next wave of cost rationalization” provides in-depth coverage of the RPA strategies being adopted by service providers to deliver value and cost savings.
Cognizant has been named a “Market Specialist” for its focus on value-driven, outcome-based solutions incorporating artificial intelligence and automation, rapid deployment and execution capabilities, and implementation strategy. Cognizant is the only service provider to receive top scores on four key evaluation parameters. These comprise establishment of dedicated RPA Center of Excellence, expertise in automation tools with live client site implementation experience, well-defined governance framework for managing, implementing, monitoring and measuring RPA-led initiatives, and alignment of C-suite executives with business unit leaders and the IT department on RPA.
Cognizant Technology Solutions Corporation provides information technology (IT), consulting, and business process services worldwide. The company operates through four segments: Financial Services, Healthcare, Manufacturing/Retail/Logistics, and Other. Its consulting and technology services comprise IT strategy consulting, program administration consulting, operations improvement consulting, strategy consulting, and business consulting services; and application design and development, systems integration, enterprise resource planning, and customer relationship administration implementation services.