Menasha, WI-based Banta Corp. announced it was reorganizing its five print divisions into two divisions. Banta’s book, publications, and consumer catalog print divisions will become a single division called Banta Publishing & Catalog Solutions, while its direct marketing and literature management divisions will form a division called Banta Direct Marketing Solutions.
“This reorganization is our initial response to the print market dynamics that we saw more rapidly develop during the second quarter,” Banta chairman/president/CEO Stephanie Streeter said in a statement. “We intend to remove significant costs from our print sector infrastructure and at the same time better leverage our scale to make us more responsive to, and competitive in, the marketplace.”
Streeter noted that Banta’s print sector had “faced considerable pricing pressures and volume challenges in the second quarter.” The company’s second-quarter revenue from continuing operations slipped from $366 million in 2005 to $361 million. Earnings from continuing operations were $16.1 million, compared with $14.0 million in last year’s second quarter, but of that $16.1 million, $3.7 million was the result of a tax reserve reversal.