Key Developments: Standard Register Co (SR)
3.16USD
24 May 2013
$-0.03 (-0.84%)
$3.18
$3.11
$3.16
$3.11
3,530
11,615
$5.95
$2.25
Latest Key Developments (Source: Significant Developments)
Standard Register and Cody Consulting Unveil Health Plan-Specific Suite of Project Management Software and Services
Standard Register and Cody Consulting, consultant to managed care organizations, announced they have developed the first health plan-specific suite of project management software and services. Powered by CodySoft, MarcomNAVIGATOR manages the complexities of creating, producing and deploying member communications in compliance with regulatory requirements. Full Article
Standard Register And Healthtrust Expand Agreement To Include Both Workflow Automation And Document Solutions
Standard Register announced that it has signed an agreement with HealthTrust Purchasing Group, L.P., a Tennessee based group purchasing organization (GPO). The agreement gives HealthTrust members access to Standard Register Healthcare’s portfolio of document solutions, SMARTworks Clinical Enterprise, a technology platform that automates patient registration, identification and clinical workflows. Full Article
Standard Register Announces Strategic Restructuring; Suspends Dividend
Standard Register announced a strategic restructuring program to better align the Company’s resources in support of its growing core solutions business and to reduce costs to offset the impact of declining revenue in its legacy operations. The restructuring is expected to result in an estimated $45 million in annual savings and the elimination of 12% to 15% of its workforce over the next 6 to 9 months. Costs associated with the restructuring program are expected to reduce fourth quarter 2011 earnings by approximately $5.5 million, or $0.11 per share, net of tax. The balance of the costs will reduce 2012 earnings by approximately $1.5 million, or $0.03 per share, net of tax. Standard Register also announced the suspension of its quarterly dividend in keeping with Ohio law, which requires that cash dividends be paid only out of a corporation’s statutory surplus. Because of the decline in book equity related to additional fourth quarter actuarial losses in the Company’s pension plan and the valuation allowance established against deferred tax assets, there is not currently a statutory surplus. The suspension of the dividend results in the annual retention of approximately $6 million of capital by the Company. The 2012 first quarter dividend which was declared in December 2011 will be paid on March 9, 2012. Full Article
Standard Register Issues Q4 2011 Guidance Below Analysts' Estimates
Standard Register announced that for the fourth quarter of 2011, it expects revenue to be $160-$162 million and pre tax losses to be $(9.6)-$(10.1) million. On a non-GAAP basis, pretax income (excluding the impact of pension amortization and settlement and restructuring costs) is expected to be $1.3-$1.8 million representing growth as compared to the third quarter of 2011 (which also excludes the impact of the postretirement plan amendment). The Company will also record a non-cash charge to tax expense of $70 to $90 million to establish a valuation allowance against certain deferred tax assets, which will reduce earnings per share (EPS) by $2.40 to $3.10 in the fourth quarter of 2011. According to I/B/E/S Estimates, analysts were expecting the Company to report revenue of $168 million for the fourth quarter of 2011. Full Article
Standard Register Declares Quarterly Dividend
Standard Register announced that the Board of Directors declared a quarterly dividend of $0.05 per share to be paid on March 9, 2012 to shareholders of record as of February 24, 2012. Full Article
Standard Register Declares Quarterly Dividend
Standard Register announced that on October 27, 2011, Standard Register’s Board of Directors declared a quarterly dividend of $0.05 per diluted share to be paid on December 9, 2011, to shareholders of record as of November 25, 2011. Full Article
Amerinet Extends Agreement With Standard Register's Standard Register Healthcare
Standard Register announced that Amerinet has extended its contract with Standard Register Healthcare through August 31, 2013. Full Article
Standard Register Declares Quarterly Dividend
Standard Register announced that on July 28, 2011, the Company's Board of Directors declared a quarterly dividend of $0.05 per share to be paid on September 9, 2011, to shareholders of record as of August 26, 2011. Full Article
Standard Register Finalizes Acquisition of Dialog Medical
Standard Register announced that it completed the transaction to acquire Dialog Medical. Standard Register now has a 100% ownership interest in Dialog Medical, which will be operated as a wholly-owned subsidiary, reporting through Standard Register Healthcare, a business unit of Standard Register. Financial terms of the transaction were not disclosed. Full Article
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