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TIS loaded some at .81, o/s 10 million, float 9 million, 16% of shares short.. LOWEST PRICE OF THE YEAR..
TIS hit $4.20
* * $TIS Video Chart 08-27-18 * *
Link to Video - click here to watch the technical chart video
TIS 3.95
TIS~ BML Capital Management holds 7.44% of shares
https://ih.advfn.com/p.php?pid=nmona&article=78106046
TIS ~ 2.82 ~~ EXPECTING 100% RUN
TIS ~ 2.74 it is very undervalued imho.
* * $TIS Video Chart 08-13-18 * *
Link to Video - click here to watch the technical chart video
Very positive earnings call with respect to valuation of assets...huge rebound in progress!
I dropped out at $1.65.
I think the company or an institution is unloading shares.
Sure looks like a bottom to me. In @ $1.68
Seems the robots want to sell as soon as a buy goes through, wth indeed.
Orchids Pap Prd Comp (NYSEAMERICAN:TIS) Short Interest Increased By 10.12%
November 12, 2017 - By Darrin Black
The stock of Orchids Pap Prd Comp (NYSEAMERICAN:TIS) registered an increase of 10.12% in short interest. TIS’s total short interest was 1.98 million shares in November as published by FINRA. Its up 10.12% from 1.80M shares, reported previously. With 128,700 shares average volume, it will take short sellers 15 days to cover their TIS’s short positions. The short interest to Orchids Pap Prd Comp’s float is 21.71%.
Energy leaves manufacturing in the red dust
Richard Mize by Richard Mize Published:
November 12, 2017 11:23 AM CDT Updated:
November 12, 2017 11:23 AM CDT
Energy's hit-and-miss recovery was enough to leave manufacturing in the red dust in this year's Oklahoma Inc. lineup of the state's leading public companies: Not one maker of anything landed anywhere near the top.
Oklahoma City-based LSB Industries Inc. bounced back from the very bottom last year, No. 35, but still rose only to No. 18.
Tulsa's AAON Inc. fell from No. 4 to No. 26.
And Orchids Paper Products Co. plummeted from No. 3 to the very bottom, No. 34.
Not that factories in Oklahoma, or manufacturers based here, swooned.
Private companies, not public, dominate Sooner State manufacturing, and production by the approximately 3,500 manufacturers actually improved slightly the past year, according to the Oklahoma Manufacturing Alliance.
Manufacturing accounted for 10 percent of the state's economic output in 2016, up from 9.55 percent the year before, and employed 8 percent of the workforce, about 135,000 people, according to the alliance.
The alliance also reported:
• Total output from manufacturing on an annual basis rose to $17.8 billion last year from $17.53 billion in 2015.
• Average compensation for a manufacturing employee rose to $65,046 from $62,549 last year, about 20 percent higher than other sectors.
However, the alliance's accomplishment's last year waned compared to 2015. In 2016, the group:
• Assisted 353 companies, up from 341 in 2015.
• Completed 384 projects with economic impact, down from 430.
• Contributed to $45.6 million in labor, materials, energy and overhead savings, down from $67.5 million.
• Contributed to $284.1 million in increased or retained sales, down from $314.8 million.
• Assisted companies with $101.9 million in capital investments, down from $115.2 million.
• Helped create 969 high-paying jobs, down from 1,492.
• Helped companies retain 910 jobs, down from 1,567.
"Workforce development is always a challenge and we are helping to meet the needs of Oklahoma companies through strong relationships with technology centers and community colleges," the alliance said in its report for 2017. "This partnership offers valuable industrial skills training in technical focus areas. That helps position our state to address the workforce skills gap that is growing among Oklahoma manufacturers."
LSB Industries Inc.
Oklahoma City-based LSB Industries, No. 18 in Oklahoma Inc., makes and sells agricultural, mining and industrial chemicals at its own facilities in Pryor, as well as Cherokee, Alabama, and El Dorado, Arkansas. It also operates a facility within a chemical company's complex in Baytown, Texas.
Trading under ticker symbol LXU on the New York Stock Exchange, LSB saw earnings per share increase 183.9 percent over the year ending June 30, and revenues increase 6.3 percent. Total return per share fell 14.5 percent over the same period.
The $293.4 million company — about 87 percent of its value a year ago — had total revenues of $411.8 million and net income of $99 million.
Second-quarter adjusted earnings nearly doubled from the same period in 2016, reflecting "enhancements we've made across our business over the past 18 months,” said Daniel Greenwell, LSB president and CEO.
Positives included the "incremental output of our El Dorado ammonia plant, which has been ramping up since entering service in May of 2016, along with strong sales volume growth for our high-density ammonium nitrate resulting from our expanded distribution strategy," he said in reporting the quarterly results.
Negatives included "headwinds caused by significant weakening in agricultural product pricing that began in June," plus unexpected downtime at Pryor and El Dorado, Greenwell said.
“These downtime events in no way change our view about the operating performance potential of the facilities," he said.
The remainder of 2017?
Greenwell said it "looks more challenging than we anticipated earlier this year due to the current ammonia pricing environment, which is lower than pricing levels seen at this time in 2016.
"We do, however, remain highly confident in our ability to operate all our plants at onstream rates of approximately 95 percent or higher. Additionally, recent sales of noncore assets have strengthened our balance sheet and provided us with greater financial flexibility, which we plan to further enhance in the coming quarters.”
AAON Inc.
Tulsa-based AAON Inc., No. 26 in Oklahoma Inc., makes semi-custom commercial and residential heating, air-conditioning and ventilation equipment, and trades as AAON on the Nasdaq Stock Market.
AAON earnings per share rose 3.2 percent over the year, and revenues rose 1.1 percent. Total return per share increased 35 percent over the same period.
The $1.9 billion company had total revenues of $383.6 million and net income of $51.1 million during the period.
At midyear, the loss of institutional memory and experience with the retirement of two longtime top executives, and the promise of industry peer certification of a new product line framed AAON's outlook for the rest of 2017.
"We have had significant changes in our manufacturing supervisory personnel," CEO Norman H. Asbjornson said. "In April, our vice president of manufacturing and Tulsa plant manager both retired after more than 60 years of combined service to the company. Mike Crews, our vice president of operations, and Hunter Mattocks, director of manufacturing, are working hard to make the transition and we have the utmost confidence in their abilities.'
"However, there is a somewhat lengthy learning curve associated with the transition process and our revenue for the first half of the year reflects the short-term challenges created by these changes in addition to the difficult labor markets. Nonetheless, our incoming order rate remains strong (with backlog rising to $83.5 million at June 30) and we expect to see excellent improvement in our revenue growth once we complete the transition process."
Asbjornson added, "While our Water-Source Heat Pump has already won industry awards for design, performance and serviceability, we are awaiting AHRI certification (Air-Conditioning, Heating, and Refrigeration Institute), which will enhance our sales and marketing program. In addition, we are currently integrating some of the cutting-edge manufacturing technology from the new line into our existing product lines with the expectation of gaining additional efficiencies."
Orchids Paper
Orchids Paper Products Co., No. 34 in Oklahoma Inc., makes bulk tissue and converts it into toilet paper and paper towels and napkins, at plants in Pryor and Barnwell, South Carolina, mostly for the private-label segment of the consumer market. Most products are sold under store brands through discount retailers.
Orchids, which trades under the ticker symbol TIS on the New York Stock Exchange, saw its earnings per share plummet 88.1 percent over the year, with revenues tumbling 14.1 percent. Total return per share fell 62.2 percent over the same period.
The $135 million company saw total revenues of $151.1 million and net income of $1.9 million during the period.
Orchids moved its front office to Brentwood, a suburb of Nashville, Tennessee, last winter.
“We expect the convenient location of our new office and the desirability of Williamson County as a place to live and work to help us attract and retain talent,” said Jeff Schoen, president and CEO. “Our new offices provide room for growth and are conveniently located close to key customers. Additionally, the Nashville area is centrally located between our principal production facilities in other states and therefore will serve as a hub for our operations.”
It's 6,700-square-foot, freshly renovated headquarters office aside, the second quarter was not pretty for Orchids.
"As expected, the second quarter was not a good one, financially speaking. Sales volumes continued at relatively low historical levels through May, and then in June the previously announced new business with its resultant revenues kicked-in," Schoen said, referring to new private-label retail orders arranged last year.
June sales made up for salves volumes lost to aggressive moves by competitors last year," he said.
"The challenges for Orchids now are to sell out the company's newly increased paper capacity, gained through the introduction of the Barnwell, South Carolina, facility, and to optimize the company's total cost structure. The cost structure will be improved through a combination of increases in capacity utilization, operating efficiencies, reassessments and realignments of costs with production requirements, and specific identified cost reduction projects."
A new state-of-the art paper machine in South Carolina, completed in June, came with a learning curve.
"Our cost of sales is too high reflecting, in part, the inefficiencies of starting up Barnwell," Schoen said. "However, we expect that as (we) sell out all of the company's existing capacity, operating costs per ton will decline significantly.
"In June we saw the average cost per unit produced decrease, however the bottom-line impact of this reduction was offset by a liquidation of older higher-cost inventory. We expect to optimize both quality and cost by the end of 2017, which will increase our competitiveness in the ultra-premium and premium product channels."
Rutabaga Capital Management LLC MA Has $3.89 Million Stake in Orchids Paper
Products Company (TIS)
Posted by Xavier Holt on Oct 14th, 2017
Rutabaga Capital Management LLC MA grew its stake in shares of Orchids Paper Products Company (NYSEMKT:TIS) by 46.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 300,636 shares of the basic materials company’s stock after buying an additional 95,026 shares during the period. Rutabaga Capital Management LLC MA owned 2.88% of Orchids Paper Products worth $3,893,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently made changes to their positions in TIS. Rhumbline Advisers increased its position in shares of Orchids Paper Products by 6.8% during the second quarter. Rhumbline Advisers now owns 10,092 shares of the basic materials company’s stock valued at $131,000 after buying an additional 646 shares during the period. Neuberger Berman Group LLC increased its position in shares of Orchids Paper Products by 16.0% during the second quarter. Neuberger Berman Group LLC now owns 10,150 shares of the basic materials company’s stock valued at $131,000 after buying an additional 1,400 shares during the period. Icon Advisers Inc. Co. bought a new stake in shares of Orchids Paper Products during the second quarter valued at about $131,000. Bank of America Corp DE increased its position in shares of Orchids Paper Products by 61.2% during the first quarter. Bank of America Corp DE now owns 5,480 shares of the basic materials company’s stock valued at $132,000 after buying an additional 2,080 shares during the period. Finally, Wilen Investment Management CORP. increased its position in shares of Orchids Paper Products by 20.5% during the second quarter. Wilen Investment Management CORP. now owns 10,571 shares of the basic materials company’s stock valued at $132,000 after buying an additional 1,800 shares during the period.
Orchids Paper Products Announces Timing Of Third Quarter 2017 Earnings Release And Conference Call
PR Newswire
Oct. 13, 2017,
06:00 PM
PRYOR, Okla., Oct. 13, 2017 /PRNewswire/ -- Orchids Paper Products Company (NYSE American: TIS), a national supplier of high-quality consumer tissue products, today announced that it will report its third quarter 2017 financial results on Tuesday, November 7, 2017 after the close of the New York Stock Exchange. The Company will hold a conference call to discuss its results at 10:00 a.m. (ET) on Wednesday, November 8, 2017. All interested parties may participate in the conference call by calling 888-346-7791 and requesting the Orchids Paper Products teleconference. Those intending to access the conference call should dial-in fifteen minutes prior to the start. The call may also be accessed live via webcast through the Company's website at www.orchidspaper.com under "Investors." A replay of the teleconference will be available for 30 days on the Company's website.
Orchids Paper Files 8K - Regulation FD >TIS
4:39 pm ET August 31, 2017 (Dow Jones) Print
Orchids Paper Products Inc. (TIS) filed a Form 8K - Regulation FD Disclosure - with the U.S Securities and Exchange Commission on August 31, 2017.
Orchids Paper Products Company has acquired a major new business award from a new customer in a new distribution channel. As previously disclosed, Orchids Paper has been actively working with key retailers to qualify ultra-premium products manufactured on the new structured-tissue-paper machine located in Barnwell, SC. This new business is for ultra-premium products, which are expected to be produced principally in Orchid's new plant in Barnwell, SC, and which the Company believes will substantially improve capacity utilization and allow Orchids to take advantage of operating leverage. The Company expects that the volume from the new customer will rank it as one of Orchids' top five customers when fully implemented. Shipments are expected to begin in late fourth quarter 2017 with full implementation in the second quarter of 2018.
Jeff Schoen, President & CEO, stated "We are extremely pleased to have qualified ultra-premium products on our new tissue machine located in Barnwell, SC. We are also pleased to have added a new customer in a new distribution channel that we believe will help Orchids diversify its business and will move Orchids rapidly toward meeting its long-term goals. We expect that this new business combined with the new business we added earlier in 2017 and the continuing prior existing volumes will equate to an annual sales run-rate of between $220 million and $240 million when fully implemented in second quarter 2018. Orchids continues to advance its goals of growing market share in the premium and ultra-premium segments while broadening and diversifying its customer base and distribution channels."
Although there is no guarantee of volume, the common practice in the industry is to award business based on a bid process with clear expectations as to targeted volumes and timing-of-shipments. Orchids' experience has been that volumes ordered generally approach the volumes identified in the awards.
The information in this Item 7.01 shall not be deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934 (the "Exchange Act") or otherwise subject to the liabilities of that section, nor shall it be deemed to be incorporated by reference in any filing under the Securities Act of 1933 or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.
Cautionary Note Regarding Forward-Looking Statements
This Form 8-K includes statements that may constitute "forward looking statements." These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve a number of assumptions, risks, uncertainties and other factors, including (i) that the customer issues purchase orders for the volumes and within the time frames that the Company anticipates and (ii) the Company's ability to deliver the converted products within the specifications and time required by applicable purchase orders, which may cause the actual results to be materially different from those expressed or implied in the forward-looking statements. Other important factors are discussed under the caption "Forward-Looking Statements" and "Risk Factors" in the Company's Form 10-K for the year ended December 31, 2016 and in subsequent filings made prior to or after the date hereof. The Company does not intend to review or revise any particular forward-looking statement in light of future events.
The full text of this SEC filing can be retrieved at: http://www.sec.gov/Archives/edgar/data/1324189/000114420417046186/v474496_8k.htm
Any exhibits and associated documents for this SEC filing can be retrieved at: http://www.sec.gov/Archives/edgar/data/1324189/000114420417046186/0001144204-17-046186-index.htm
Public companies must file a Form 8-K, or current report, with the SEC generally within four days of any event that could materially affect a company's financial position or the value of its shares.
(END) Dow Jones Newswires
August 31, 2017 16:39 ET (20:39 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
Looks like it dropped below 13 until bouncing today. There must be some value here, but not buying until after q2.
TIS is in terrible shape for 6 more months.
At least the PPS won't affect the Barnwell ramp up.
Yeah the earnings delay wasn't good news, which is why I was surprised the stock jumped to $26+. Great selling opportunity as I thought. Q1 turned out to be even uglier than I expected. And cutting the dividend will hurt too. Shorts will win today as it looks like the stock will drop below $20. I'd like to get back in at some point, but sure don't see any rush as Q2 likely another weak quarter before things start picking up in Q3. Hopefully they do or the company is in trouble.
Orchids Paper Products Company Announces 2017 First Quarter Results And Suspends Quarterly Dividend To Preserve Financial Flexibility
"Regarding the Barnwell, South Carolina, project, the two converting lines are ramping-up to meet the new demand, and the paper mill is scheduled to be in production in June and to be immediately capable of making and selling parent roll capacity in excess of that required for converted product sales. The ramp-up of the paper mill is expected to continue throughout the third quarter."
BRENTWOOD, Tenn., May 1, 2017 /PRNewswire/ -- Orchids Paper Products Company (TIS) today reported results for the quarter ended March 31, 2017. The following tables provide selected financial results for first quarter 2017 compared to first quarter 2016 and to fourth quarter 2016.
Q1 2017
Q1 2016
Q4 2016
(Dollars in thousands, except per share data) (unaudited)
Net sales:
Converted product
$ 32,898
$ 45,252
$ 35,226
Parent rolls
2,456
2,491
2,483
Total net sales
$ 35,354
$ 47,743
$ 37,709
Gross profit
$ 1,969
$ 11,381
$ 5,680
Net (loss) income
$ (860)
$ 5,409
$ 2,621
Diluted net (loss) income per share
$ (0.08)
$ 0.52
$ 0.25
EBITDA
$ 2,741
$ 11,497
$ 5,983
Adjusted EBITDA
$ 2,811
$ 11,706
$ 6,260
Other Selected Financial Data:
Gross profit margin
5.6%
23.8%
15.1%
EBITDA margin
7.8%
24.1%
15.9%
Adjusted EBITDA margin
8.0%
24.5%
16.6%
Jeff Schoen, President and Chief Executive Officer, stated, "As we expected, the first half of 2017 was going to be a challenging period until the new business awarded started to be produced and shipped. Sales were negatively impacted in January and February by one-time inventory reductions in preparation for a restage of private label programs that started to ship in March. Costs were negatively impacted by the continued effect of start-up costs for our Barnwell, South Carolina plant. Looking to the second quarter, production of the new volume that we announced in January, representing 3.0MM cases or more of new business, has begun, which we expect to be fully implemented by the beginning of third quarter. As previously stated, we expect the new volume to generate in the area of $15 million to $20 million of EBITDA and to attain a run rate of $50 million to $60 million of EBITDA when our new capacity is sold out.
"Operating cash flow less changes in working capital provided $7.4 million in the first quarter of 2017, relative to $6.8 million the fourth quarter of 2016. We avoided stock-piling inventory and were able to exit some rented warehouse space. Despite spending $18.0 million on capital projects, we only increased financings by $11.5 million.
"Regarding the Barnwell, South Carolina, project, the two converting lines are ramping-up to meet the new demand, and the paper mill is scheduled to be in production in June and to be immediately capable of making and selling parent roll capacity in excess of that required for converted product sales. The ramp-up of the paper mill is expected to continue throughout the third quarter."
First Quarter 2017, relative to First Quarter 2016
Net sales decreased $12.4 million, or 26%, primarily due to heavy promotional activity by brand-competitors and other competitive pressures. Parent roll sales were $2.5 million in both quarters, and converted product sales decreased $12.4 million to $32.9 million. $10.2 million of the decrease in revenue was attributable to the decreased number of tons sold, and $2.2 million was attributable to a decline in the average price per ton that reflects a changing mix of customers buying a changing mix of products.
Cost of sales, exclusive of depreciation, decreased $3.6 million, or 11%. Tons sold decreased by 20% leading to a decrease of $7.0 million in cost of sales; however, the average cost per unit increased 9%, offsetting $3.4 million of this decrease. The addition of labor, overhead, and start-up costs for Barnwell, not yet being offset by production and absorption, account for the largest portion of the relative cost increase. The decline in production volumes drove decreased absorption and unfavorable efficiency variances to which we attribute roughly $4.4 million of the change in cost. Increases in repairs and maintenance, $0.5 million; direct labor, $0.4 million; and other cost increases were more than offset by savings, principally from lower fiber costs and from decreased freight costs.
Interest expense increased $0.3 million, or 97%, due principally to increased debt levels. Our interest rate is also variable and dependent upon our financial leverage. Most interest incurred continues to be capitalized to the Barnwell, South Carolina, capital project, pending its completion.
A tax benefit of $0.4 million was recognized in the first quarter of 2017 compared to tax expense of $2.8 million in the first quarter of 2016, reflecting both the decline in pre-tax earnings and the Company's recognition of tax credits. The effective combined tax rate estimated in the first quarter of 2017 is 30%.
As a result of the foregoing factors, a net loss of $0.9 million, or ($0.08) per basic share, was recognized in the first quarter of 2017 compared to net income of $5.4 million, or $0.53 per basic share, in the first quarter of 2016.
First Quarter 2017, relative to Fourth Quarter 2016
Net sales decreased $2.4 million, or 6%, as customers tended to work-off high inventory levels following heavy promotional activity by brand-competitors and other competitive pressures in prior quarters. Parent roll sales remained similar between the quarters, declining less than $0.1 million, while converted product sales decreased $2.3 million. A decline in the number of tons sold resulted in a $2.7 million decrease in net sales, while a higher average selling price per ton increased net sales by $0.3 million.
Cost of sales, exclusive of depreciation, increased $1.2 million, or 4%. Tons sold decreased by 7% leading to a decrease in cost of sales of $2.0 million; however cost increases of $3.2 million, or 11%, more than offset the decrease. The decline in production volumes drove decreased absorption and unfavorable efficiency variances to which we attribute roughly $1.3 million of the unfavorable change in cost. Additionally, approximately $1.0 million of the unfavorable change in costs of sales resulted from seasonal fluctuations and certain costs that are not expected to be reoccurring, including unfavorable variances in purchasing rebates, increased freight costs for shipments of parent rolls from Pryor to Barnwell (that will be avoidable once Barnwell's mill is operational), seasonal social security expenses, Barnwell's mill labor in training, and other unfavorable variances related to employee benefits.Mexicali's costs increased approximately $0.3 million due principally to increased fiber costs on the West Coast and increased local electrical rates, while Pryor benefited from $0.2 million of cost savings from its mix of fiber. In the fourth quarter, Barnwell had a favorable inventory adjustment of approximately $0.4 million, which was not replicated in the first quarter. Repairs and maintenance, freight costs for shipments to the West Coast, and other overhead costs increased approximately $0.4 million in net.
Interest expense remained relatively flat at $0.5 million in both the first quarter of 2017 and the fourth quarter of 2016. Most interest incurred continues to be capitalized to the Barnwell, South Carolina, project, pending its completion.
A tax benefit of $0.4 million was recognized in the first quarter of 2017, as discussed above. A tax benefit of $0.4 million was also recognized in the fourth quarter of 2016, reflecting the Company's recognition of Oklahoma,South Carolina, Indian Employment, and Foreign tax credits.
As a result of the foregoing factors, a net loss of $0.9 million was recognized in the first quarter of 2017 compared to net income of $2.6 million in the fourth quarter of 2016.
First Quarter 2017 EBITDA relative to Fourth Quarter 2016 EBITDA
To assist in summarizing the changes that occurred in first quarter of 2017, a bridge follows, intended to show the significant changes in EBITDA between the first quarter and the immediately preceding quarter, the fourth quarter of 2016. EBITDA of $6.0 million in the fourth quarter of 2016 is being compared to EBITDA of $2.7 million in the first quarter of 2017.
Average selling prices increased, contributing $0.3 million.
Sales volumes declined, reducing the gross margin by $0.7 million.
A reduction of approximately $1.3 million is attributable to unfavorable absorption and manufacturing variances in turn attributable to decreased production and sales volumes.
One-off changes and ramp-up costs of $0.9 million were incurred, e.g. labor incurred during training of new employees in Barnwell, timing of recognition of rebates, and other factors noted in the cost of sales section above.
A reduction of $0.3 million is attributable to changes in inventory adjustments at Barnwell and to increased repairs and maintenance atBarnwell that may or may not be reoccurring.
Net favorable cost adjustments of approximately $0.3 million in the fourth quarter were not reoccurring in the first quarter.
Liquidity
Q1 2017
Q1 2016
Q4 2016
(Dollars in thousands) (unaudited)
Cash Flow Provided by (Used in):
Operating cash flow net of changes in working capital
$ 7,376
$ 8,628
$ 6,803
Changes in working capital
(3,763)
235
765
Operating activities
$ 3,613
$ 8,863
$ 7,568
Investing activities
$ (18,051)
$ (20,785)
$ (14,255)
Financing activities
$ 11,465
$ 15,600
$ 6,876
Cash balance, beginning
$ 8,750
$ 4,361
$ 8,561
Cash balance, ending
$ 5,777
$ 8,039
$ 8,750
At March 31, 2017, Debt, not having been netted with unamortized deferred debt issuance costs, was $153.6 million and the Adjusted EBITDA leverage ratio was 6.2. The Banks waived the leverage ratio covenant for the first and second quarters of 2017. The total projected expenditure for the Barnwellfacility is $150 million to $155 million, of which approximately $147.0 million had been expended as of March 31, 2017.
First quarter 2017 relative to first quarter 2016: Operating cash flows excluding changes in working capital decreased $1.3 million compared to the first quarter of 2016, primarily reflecting the decrease in net income, net of changes in deferred taxes. Changes in working capital used $3.8 million of operating cash flows in the first quarter of 2017 compared to providing $0.2 million of operating cash flows in the first quarter of 2016. Increased borrowings in both periods were used to finance investments in the Barnwellfacility. In 2015, the Company received $12.0 million of restricted cash from financings, of which $4.8 million was used in first quarter 2016 for theBarnwell facility and was, accordingly, included in Investing activities. The Company paid dividends of $3.6 million in the first quarter of 2016, which is included in Financing activities.
First quarter 2017 relative to fourth quarter 2016: Operating cash flows excluding changes in working capital increased $0.6 million compared to the fourth quarter of 2016, primarily reflecting changes in deferred income taxes net of the decrease in net income. Changes in working capital used $3.8 million of operating cash flows in the first quarter of 2017 compared to providing $0.8 million of operating cash flows in the fourth quarter of 2016. Increased borrowings in both periods were used to finance investments in theBarnwell facility. The Company paid dividends of $3.6 million in the fourth quarter of 2016, which is included in Financing activities.
Dividend
Orchids is committed to our growth strategy of expanding capacity, expanding our markets and sales, and leveraging our low costs of production. Even though we expect to see step-change improvements in earnings and cash flow in the third and fourth quarters, the Board considered it prudent and the responsible course of action to suspend the quarterly dividend to preserve financial flexibility and ensure our capital is allocated to further the success of our business. In the Board's judgment, at this time, the better use of cash is to invest in the Barnwell, South Carolina project and to directly address the financial leverage ratios.
The declaration and payment of future dividends to holders of our common stock will be based upon many factors, including our financial condition, earnings, capital requirements of our businesses, legal requirements, regulatory constraints, industry practice, restrictions under the Company's credit agreements, and other factors that the Board of Directors deems relevant. The Board of Directors retains the power to modify, suspend or cancel the Company's dividend policy in any manner and at any time as it may in its discretion deem necessary or appropriate.
Orchids Paper Products (TIS) Suspends Quarterly Dividend To Preserve Financial Flexibility
May 1, 2017 5:45 AM EDT
Orchids Paper Products Company (NYSE: TIS) today reported results for the quarter ended March 31, 2017.
Dividend
Orchids is committed to our growth strategy of expanding capacity, expanding our markets and sales, and leveraging our low costs of production. Even though we expect to see step-change improvements in earnings and cash flow in the third and fourth quarters, the Board considered it prudent and the responsible course of action to suspend the quarterly dividend to preserve financial flexibility and ensure our capital is allocated to further the success of our business. In the Board's judgment, at this time, the better use of cash is to invest in the Barnwell, South Carolina project and to directly address the financial leverage ratios.
The declaration and payment of future dividends to holders of our common stock will be based upon many factors, including our financial condition, earnings, capital requirements of our businesses, legal requirements, regulatory constraints, industry practice, restrictions under the Company's credit agreements, and other factors that the Board of Directors deems relevant. The Board of Directors retains the power to modify, suspend or cancel the Company's dividend policy in any manner and at any time as it may in its discretion deem necessary or appropriate.
Ouch - Pre-Market...Trading - TIS...$21...-$3.35...-13.76%
This is what happens to the little guy when the big boys lower prices.
This is going to hurt.
Orchids Paper Products misses by $0.19, misses on revenue
May 1, 2017 5:43 AM
By: Mamta Mayani
* Orchids Paper Products (NYSEMKT:TIS): Q1 EPS of -$0.08 misses by $0.19.
* Revenue of $35.35M (-26.0% Y/Y) misses by $4.75M.
More on Orchids Paper Products' Q1
May 1, 2017 6:44 AM ET
By: Niloofer Shaikh
* Orchids Paper Products (NYSEMKT:TIS) reports net sales down 26% in Q1, primarily due to heavy promotional activity by brand-competitors and other competitive pressures.
* Converted product net sales declined 27.3% to $32.9M.
* Parent rolls net sales decreased 1.4% to $2.46M.
* Gross margin rate fell drastically from 23.8% year ago to 5.6%.
* Adjusted EBITDA margin also dropped to 8% vs. 24.5% in 1Q16.
Where's my doctor? I think I'm got whiplash today.
Tennessee Department of Economic and Community Development
https://www.facebook.com/tnecd/posts/10154426626743231
March 7 ·
Orchids Paper Products is the newest publicly traded company to call Tennessee home. Orchids Paper announced today it will establish its headquarters in Brentwood, creating up to 25 jobs.
“Tennessee’s business-friendly environment and high quality workforce have attracted some of the world’s most recognizable brands to our state,” TNECD Commissioner Bob Rolfe said. “We’re thankful that Orchids Paper, like countless other companies over the years, has decided to call Tennessee home."
Maybe the earnings release had something to do with updates on the HQ move?
TIS also delayed the K and conference call last quarter.
Still, the Barnwell mill isn't complete, but it is operational.
Maybe the Q will be inclusive of some good news related to that point.
Here is an interesting point from the last K:
Note 12—New Market Tax Credit
From page 32 of the K related to financing for the Barnwell, South Carolina facility.
... This transaction was designed to qualify under the federal New Market Tax Credit (“NMTC”) program, pursuant to Section 45D of the Internal Revenue Code of 1986, as amended. Through this transaction, the Company has secured low interest financing and the potential for future debt forgiveness related to the South Carolina facility.
Yeah weird action yesterday. Not sure why it shot up over $26 on an earnings delay? Those usually aren't good news. So was surprised to see the stock not only up, but up a lot. I think it was a good opportunity to lighten up ahead of earnings, as the Q1 comp is going to look ugly.
TIS ... $26.01 ... up $1.41 It's as if a good Q came out last night ... and we are waiting until Monday.
It's FUNNY how much TIS's PPS has swung today. It's been up to $1.83 right now. That's just crazy.
It's too bad that they delayed the release of the Q, but I am okay with them doing it on Monday morning just prior to the conference call. I think that's better.
Without delay, management will be able to put whatever spin on the news they want to, including reinforcing that this coming quarter will be when the new and expanding customer will start taking delivery of finished product out of the Barnwell mill.
That will help take the pressure off of the prior Q and focus it on the forward Q's.
As I type this, I am very happy I added a few weeks ago.
TIS Rescheduled First Quarter 2017 Earnings Release And Teleconference
That's too bad. I was hanging on the edge of my seat waiting.
PR Newswire
April 26, 2017
PRYOR, Okla., April 26, 2017 /PRNewswire/ -- Orchids Paper Products Company (NYSE MKT: TIS) today announced that it has rescheduled its first quarter 2017 earnings release and teleconference. The Company will release first quarter 2017 financial results before the opening of the New York Stock Exchange on Monday, May 1, 2017. The Company's teleconference to discuss its first quarter results will be held at 10:00 a.m. (ET) on Monday, May 1, 2017. All interested parties may participate in the teleconference by calling 888-346-7791 and requesting the Orchids Paper Products teleconference. A question and answer session will be part of the teleconference's agenda. Those intending to access the teleconference should dial-in fifteen minutes prior to the start. The call may also be accessed live via webcast through the Company's website at www.orchidspaper.com under "Investors." A replay of the teleconference will be available for 30 days on the Company's website.
About Orchids Paper Products Company
Orchids Paper Products Company is a customer-focused, national supplier of high-quality consumer tissue products primarily serving the at home private label consumer market. The Company produces a full line of tissue products, including paper towels, bathroom tissue and paper napkins, to serve the value through ultra-premium quality market segments from its operations in northeast Oklahoma, Barnwell, South Carolina and Mexicali, Mexico. The Company provides these products primarily to retail chains throughout the United States. For more information on the Company and its products, visit the Company's website at http://www.orchidspaper.com.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/orchids-paper-products-announces-rescheduled-first-quarter-2017-earnings-release-and-teleconference-300446451.html
Orchids Paper Products Company To Present at Taglich Brothers 14th Annual Investment Conference
There should be a bump after the presentation, no matter what the Q looks like later today.
Marketwired
April 26, 2017
NEW YORK, NY--(Marketwired - April 26, 2017) - Taglich Brothers, Inc. is pleased to announce that Orchids Paper Products Company (NYSE MKT: TIS) will be presenting at our 14th Annual Investment Conference on Tuesday, May 2, 2017 at 9:00 am in New York City. To view the webcast visit http://www.taglichbrothers.com/conference/conferencewebcast.php.
About Taglich Brothers
Taglich Brothers, Inc. is a full-service broker dealer focused exclusively on microcap companies. The Company defines the microcap segment of the equity market as companies with less than $250 million in market capitalization. Taglich Brothers currently offers institutional and retail brokerage services, investment banking and comprehensive research coverage to the investment community.
About Orchids Paper Products Company
Orchids Paper Products Company is a customer-focused, national supplier of high quality consumer tissue products primarily serving the at home private label consumer market. The Company produces a full line of tissue products, including paper towels, bathroom tissue and paper napkins, to serve the value through ultra-premium quality market segments from its operations in northeast Oklahoma, Barnwell, South Carolina and Mexicali, Mexico. The Company provides these products primarily to retail chains throughout the United States. For more information on the Company and its products, visit the Company's website at http://www.orchidspaper.com.
Confirmation of margin pressures hit all in the industry.
So, as hweb2 pointed out, the Q this afternoon may not look too good.
But as we've discussed here, the long term addition of a new customer and an expanding customer for the S.C. mill which is projected to increase revenues by 35% is a game changer. The industry big boys are not doing that.
3 Surprises in Kimberly-Clark Corp's Quarterly Results
There were a few unexpected numbers in the consumer goods giant's first-quarter report.
Demitrios Kalogeropoulos (TMFSigma) Apr 25, 2017 at 7:51PM
Kimberly-Clark (NYSE:KMB) has a relatively stable business thanks to its deep portfolio of consumer brands like Kleenex tissues and Huggies diapers that millions of people use on a daily basis. But that doesn't mean the company can't occasionally surprise investors with shifts in its operating trends and changes in the market outlook.
With that in mind, here are three important things from this past week's quarterly report that shareholders likely didn't see coming.
A drop in prices
The company posted a 1% decline in organic sales, continuing a disappointing trend around revenue gains. Its expansion pace was a healthy 5% for the 2015 fiscal year, before slowing to a 2% pace last year and falling again to a slightly negative rate to kick off fiscal 2017.
The biggest factor in this latest slump was lower prices. Kimberly-Clark reduced net selling prices by more than a full percentage point, which wiped out the gains produced by the minor uptick in sales volumes.
Management blamed spiking competition in the U.S. market for the shift. Organic sales dove by 3% in that segment, "reflecting category softness, competitive activity, and less promotion shipments," executives explained.
Rival Unilever (NYSE:UL) fared better by posting a 1% organic sales drop in the U.S. geography as it gained share despite a shrinking overall industry. Kimberly-Clark, in contrast, couldn't claim market-share gains and instead had to settle for rising profits. "We delivered earnings growth despite a challenging environment, particularly in North America," CEO Thomas Falk said in a press release.
Costs and currencies
Currency exchange rates changes have swung from a having a heavy weight on results to giving a slight boost. In fact, currency shifts increased reported sales by 1% this quarter, after having caused a 4% reduction last year and a whopping 11% hit in 2015.
As a result, management now sees foreign exchange moves having zero effect on sales or profits this year, compared to its prior forecast of a 2% decline in both. However, that surprising gain is being completely offset by rising commodity costs. Kimberly-Clark has seen a few core inputs spike, and so cost inflation is projected to be about $200 million in 2017 compared to a prior estimate of $125 million.
There's no bottom-line effect on earnings between these two trends, which is why the company still projects 2017 profits will weigh in at between $6.20 per share and $6.35 per share, up roughly 5% from the $5.99 per share it posted last year.
Lower outlook
Kimberly-Clark doesn't see the weak conditions in the U.S. market improving any time soon. Falk and his team now project overall organic gains coming in at 1.5% at the midpoint of guidance, which is a slight downgrade from their prior forecast of 2%. By comparison, Unilever expects to grow by 4%.
If the company doesn't outperform the latest target, 2017 will mark the second straight year that Kimberly-Clark has endured slowing sales growth, with organic revenue gains slumping from 5% to less than 2% since 2015.
Executives are ramping up their cost-cutting plans and will likely consider aggressive portfolio improvements to get sales growth back on track -- just as rivals have done in recent years. Unilever, for example, is divesting its spreads business and adding new product lines like Dollar Shave Club. Procter & Gamble just finished a huge portfolio reboot that saw it remove 100 brands from the portfolio to concentrate on just the fastest-growing, highest-margin franchises.
Initiatives like these might be needed as part of a bigger plan by Kimberly-Clark to improve its competitive position in the market now that it is losing share to global rivals as they step up their promotions and innovation strategies.
Demitrios Kalogeropoulos has no position in any stocks mentioned. The Motley Fool recommends Kimberly-Clark and Unilever. The Motley Fool has a disclosure policy.
Notable earnings after Wednesday’s close
Apr. 25, 2017 5:35 PM ET
TIS
Too many pay attention to Zacks because they do not know better.
Zacks makes up their own facts to trade for their betterment, and they report past trends, not the future based on past and present facts. They are opportunists who prey on the uninformed. I hate them.
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