Tailored Label Products to expand plant; Late start to winter hurt plow sales for Douglas Dynamics; Quad/Graphics reports drop in profits
Tailored Label Products to expand plant
Tailored Label Products Inc. (TLP), a custom manufacturer of label and adhesive solutions, plans to expand with a 10,000-square-foot addition of Menomonee Falls plant.
This will be the fourth expansion TLP has undergone within the last six years, increasing TLP’s size to 55,900 square feet.
Once the expansion is complete, the company plans to hire five to seven additional employees. The company added nine people to its workforce last year.
“TLP has seen a 25 percent increase in volume from 2009 to 2010 and has added over 100 new customers during that time,” said Mike Erwin, president of TLP.
In addition to the planned expansion, TLP has invested in two new converting machines that will increase capacity and process reliability as part of the company’s continuous improvement programs.
Late start to winter hurt plow sales for Douglas Dynamics
Douglas Dynamics Inc., a Milwaukee-based manufacturer of snow and ice control equipment for light trucks, reported fourth quarter net income of $5.1 million, or 23 cents per share, down from $5.9 million, or 40 cents per share, in the same period a year ago.
The company’s quarterly net sales were $48.5 million, representing a 1.4-pecent decrease from the same period in 2009. The slight decrease in net sales reflects the late start to the snow season in the company’s key markets. In many areas, significant snowfall did not begin until late December.
Parts and accessories sales remained strong, at a similar level to the prior year, driven by the continued trend toward repair rather than replacement as a result of continuing poor economic conditions.
James Janik, president and chief executive officer of Douglas Dynamics, said, "We are pleased with our fourth quarter performance despite the late start to the snow season, which did not occur in time to generate significant demand that would impact 2010 results. We were able to produce results that were in line with our previously stated guidance and the record storms in late December and so far in 2011 bode well for a solid start to 2011 for the company."
Janik said, "Sales of parts and accessories continued to be strong, trending higher than the average when compared to the preceding ten years, which we believe to largely be the result of the continued deferral of new equipment purchases during a slow period of economic recovery."
Quad/Graphics reports drop in profits
Quad/Graphics Inc. reported fourth quarter net earnings of $26.5 million, or 55 cents per share, down from $36.3 million, or $1.24 per share, in the same period a year ago.
The Sussex-based printing company’s quarterly net sales increased to $1.4 billion from $512.6 million a year earlier.
"We are very pleased with our results for fourth quarter 2010, which is our second quarter reporting as a combined company," said Joel Quadracci, chairman, president and chief executive officer of Quad/Graphics. "Net sales were up slightly over pro forma 2009 despite continued pricing pressures and the downward trajectory of Worldcolor revenues."
Given the industry’s ongoing competitive pricing environment, Quadracci noted that the company will continue its historic focus on improving operational excellence through lean manufacturing and continuous improvement initiatives as well as reinvesting in its platform.
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