Leading National Retailer Partners with InnerWorkings Inc. to Manage its Private Label Packaging Program
Aug 13 14
InnerWorkings Inc. announced a new partnership with a publicly traded national retailer to manage its private label packaging program, which encompasses all consumer packaged goods categories. The company was selected to deliver cost reductions, enforce brand consistency, and re-engineer packaging specifications across the portfolio. In virtually all private label packaging solutions today, retailers are not directly involved in the sourcing, selection, or overall brand control of the product portfolio. Private label manufacturers or co-packers historically manage this process from start to finish, providing retailers with pricing only at the finished goods level which includes both packaging costs and actual product costs bundled together. As a result, retailers lack any meaningful opportunity to leverage cost optimization measures inside their supply chain. Further, with multiple products and co-packers engaged, retailers struggle with inventory control and brand consistency across their private label brand portfolio as they are forced to interact with far more packaging suppliers than necessary to meet their needs. The company applies a decidedly different approach by separating packaging from all other product and manufacturing costs, sourcing each component of a product independently to capture optimal efficiencies, savings, and visibility into every step in the packaging supply chain. In doing so, brands can ensure that every element of their product is sourced, produced, packaged, and distributed with quality and optimal efficiency.
InnerWorkings Inc. Presents at Midwest IDEAS Investor Conference 2014, Aug-26-2014 11:30 AM
Aug 7 14
InnerWorkings Inc. Presents at Midwest IDEAS Investor Conference 2014, Aug-26-2014 11:30 AM. Venue: Chicago Hard Rock Hotel, 230 N. Michigan Avenue, Chicago, Illinois, United States. Speakers: Joseph M. Busky, Chief Financial Officer, Principal Accounting Officer and Secretary.
InnerWorkings Inc. Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014; Reaffirms Earnings Guidance for the Year 2014
Aug 6 14
InnerWorkings Inc. announced unaudited consolidated earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company’s revenue was USD 260,349,591 against USD 210,875,626 for the same period a year ago. Income from operations was USD 3,396,893 against USD 5,830,412 for the same period a year ago. Income before income taxes was USD 2,338,726 against USD 5,341,652 for the same period a year ago. Net income was USD 1,605,372 against USD 3,675,521 for the same period a year ago. Basic and diluted earnings per share were USD 0.03 against USD 0.07 for the same period a year ago. Non-GAAP adjusted EBITDA was USD 9,544,817 against USD 5,895,577 for the same period a year ago. Net cash provided by operating activities was USD 4,220,257 against USD 3,752,643 for the same period a year ago. Non-GAAP adjusted operating cash flows were USD 6,416,166 against USD 3,867,934 for the same period a year ago. Adjusted net income was USD 2,198,588 against USD 1,056,255 for the same period a year ago. Non-GAAP Diluted EPS was USD 0.04 against USD 0.02 for the same period a year ago. The company’s revenues grew 23% with over half of the growth being generated organically from its core enterprise business.
For the six months, the company’s revenue was USD 501,839,255 against USD 415,453,042 for the same period a year ago. Income from operations was USD 4,934,267 against USD 1,994,097 for the same period a year ago. Income before income taxes was USD 2,760,427 against USD 581,401 for the same period a year ago. Net income was USD 1,894,779 against USD 874,247 for the same period a year ago. Basic and diluted earnings per share were USD 0.04 against USD 0.02 for the same period a year ago. Net cash used in operating activities of USD 4,188,086 against net cash provided by operating activities of USD 2,910,004 for the same period a year ago. Non-GAAP adjusted EBITDA was USD 18,047,108 against USD 12,660,954 for the same period a year ago. Adjusted net cash used in operating activities was USD 2,549,481 against adjusted net cash provided by operating activities of USD 10,271,380 for the same period a year ago. Non-GAAP adjusted operating cash outflows were USD 1,992,177 against non-GAAP adjusted operating cash inflows of USD 4,876,361 for the same period a year ago. Adjusted net income was USD 3,217,526 against USD 3,228,577 for the same period a year ago. Non-GAAP Diluted EPS was USD 0.06 against USD 0.06 for the same period a year ago. The growth in Revenue was primarily driven by USD 51 million of organic Enterprise Growth plus USD 44 million of 2013 inquisitive growth.
The company reaffirms its 2014 revenue guidance of USD 965 million to USD 1 billion, which reflects 8% to 12% growth over 2013. The company also reaffirms its 2014 Non-GAAP diluted earnings per share guidance of USD 0.23 to USD 0.27, compared to USD 0.09 in 2013.
Sanofi Selects InnerWorkings, Inc. as Global Marketing Partner
Jul 28 14
InnerWorkings Inc. has been selected as a global marketing partner of Sanofi. Under this agreement, InnerWorkings will oversee the creation, production, and management of Sanofi's worldwide promotional items (targeted campaigns, educational tools and aids for the patients), with a special focus on implementing high standards for corporate and social responsibility (CSR) across global operations. Additionally, InnerWorkings will drive enhanced innovation, stewardship, and consistency across Sanofi's global efforts. InnerWorkings and Sanofi began its partnership in 2013 with a pilot program to support Sanofi's work in 15 countries across the Americas, Europe and Africa. Throughout the rest of 2014, InnerWorkings will expand this solution to dozens more countries and regions.