February 21, 2018 / 9:53 PM / 5 months ago

BRIEF-Essendant Q4 GAAP Loss Per Share $0.04

Feb 21 (Reuters) - Essendant Inc:

* ESSENDANT REPORTS FOURTH QUARTER AND FULL YEAR 2017 RESULTS

* Q4 REVENUE FELL 4.5 PERCENT TO $1.2 BILLION

* ESSENDANT - EXPECTS RESTRUCTURING PROGRAM AND OTHER INITIATIVES TO REDUCE COSTS BEGINNING IN 2018

* ESSENDANT - EXPECTS RESTRUCTURING PROGRAM AND OTHER INITIATIVES TO REACH RUN-RATE ANNUAL SAVINGS OF OVER $50 MILLION BY 2020

* ESSENDANT - RESTRUCTURING INCLUDES FACILITY CONSOLIDATIONS AND WORKFORCE REDUCTIONS WITH ESTIMATED CASH COST OF $30 MILLION - $40 MILLION

* ESSENDANT - PRODUCT ASSORTMENT REFINEMENTS ARE ALSO PLANNED IN RESTRUCTURING TO ELIMINATE ITEMS WITH LIMITED AVAILABILITY & LOWER SALES

* ESSENDANT - NON-CASH CHARGE OF ABOUT $42 MILLION - $48 MILLION RELATED TO REFINEMENTS IS EXPECTED IN Q1 2018

* ESSENDANT - 2018 NET SALES ARE EXPECTED TO BE DOWN 3% TO 6% FROM PRIOR YEAR

* ESSENDANT - Q1 ADJUSTED EARNINGS PER SHARE IS EXPECTED TO BE LOWER THAN Q4 2017 Source text for Eikon: Further company coverage:

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