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5 August 2020
LSC Struggles With 39% Sales Hit
CHICAGO—
LSC second quarter net sales were $532 million, down $337 million, or 38.8%, from 2019. Net loss of $63 million, compared to net loss of $25 million in 2019. Second quarter net sales in Magazines, Catalogs and Logistics were $214 million, a decrease of 43.8%, from 2019. Book were $198 million, a decrease of 31.7% from the second quarter of 2019. Cash balance of $97 million as of June 30, 2020, LSC claims will provide sufficient liquidity to continue to fund ongoing operations
LSC filed for Chapter 11 in April. LSC is the largest book printer in the U.S. also a major retail inserts printer, magazine printer and office products manufacturer. LSC has two locations in Canada, Newmarket and Mississauga under the Tops Products and Esselte Canada. LSC Communications was spun off from RR Donnelly in 2016 with sales of about $3.7 billion and 22,000 employees.
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