Banta Reconfirms First Quarter Expectations; Company Writes off XYAN.com Investment

Apr 02, 2001, 01:00 ET from Banta Corporation

    MENASHA, Wis., April 2 /PRNewswire/ -- Banta Corporation (NYSE:   BN) today
 reconfirmed its earlier guidance that first quarter diluted earnings per share
 would be in a range of 40 cents to 42 cents, excluding a one-time charge for
 the write off of its minority investment in XYAN.com, a provider of
 Internet-enabled digital print solutions.  In last year's first quarter Banta
 earned 39 cents per share.
     "Operating performance of our core businesses continues at levels
 consistent with our expectations, despite the constraints of current economic
 conditions," says Donald D. Belcher, chairman and chief executive officer.
 "We remain confident that our first quarter sales and earnings per share will
 exceed last year's levels, excluding the one-time charge for the investment in
 XYAN.com."
     XYAN.com's plan to create a national network of Internet-enabled digital
 print facilities has been severely affected by the current economic downturn,
 coupled with the unavailability of funding sources for new Internet ventures.
 Banta will write off its investment and take a non-operating, non-cash charge
 in the first quarter ended March 31, 2001, of approximately $7 million, after
 tax (29 cents per diluted share).  Additionally, Banta has reacquired its two
 digital facilities that were transferred to XYAN.com as part of the original
 transaction.  Both facilities remain profitable and will continue to serve
 Banta's customers.
     "Our outlook for 2001 remains positive, as we expect the second half of
 the year to be stronger than the first half," notes Belcher.  "Overall, we
 should achieve another year of increased financial results, with both sales
 and earnings expected to reach record levels, excluding the one-time charge."
     Banta Corporation is a technology and market leader in printing and
 supply-chain management. Banta provides a comprehensive combination of
 printing and digital imaging solutions to leading publishers and direct
 marketers, including advanced digital content management and e-business
 services.  Banta's supply-chain management businesses provide a wide range of
 outsourcing capabilities to the world's largest technology companies.
 Services range from component procurement, product assembly and packaging to
 inventory control and global distribution.
     "Safe Harbor" Statement under the Private Securities Litigation Reform Act
 of 1995:
     This news release includes forward-looking statements. Statements that
 describe future expectations, including revenue and earnings projections,
 plans, results or strategies, are considered forward-looking.  Such statements
 are subject to certain risks and uncertainties that could cause actual results
 to differ materially from those currently anticipated.  Factors that could
 affect actual results include, among others, changes in customers' order
 patterns or demand for the corporation's products and services, changes in raw
 material costs and availability, unanticipated changes in operating expenses,
 unanticipated production difficulties, and general changes in economic
 conditions.  These factors should be considered in evaluating the
 forward-looking statements, and undue reliance should not be placed on such
 statements.  The forward-looking statements included herein are made as of the
 date hereof, and Banta undertakes no obligation to update publicly such
 statements to reflect subsequent events or circumstances.
     An electronic version of this news release, as well as other information
 about Banta Corporation, is available through the company's Web site at
 http://www.banta.com
 
 

SOURCE Banta Corporation
    MENASHA, Wis., April 2 /PRNewswire/ -- Banta Corporation (NYSE:   BN) today
 reconfirmed its earlier guidance that first quarter diluted earnings per share
 would be in a range of 40 cents to 42 cents, excluding a one-time charge for
 the write off of its minority investment in XYAN.com, a provider of
 Internet-enabled digital print solutions.  In last year's first quarter Banta
 earned 39 cents per share.
     "Operating performance of our core businesses continues at levels
 consistent with our expectations, despite the constraints of current economic
 conditions," says Donald D. Belcher, chairman and chief executive officer.
 "We remain confident that our first quarter sales and earnings per share will
 exceed last year's levels, excluding the one-time charge for the investment in
 XYAN.com."
     XYAN.com's plan to create a national network of Internet-enabled digital
 print facilities has been severely affected by the current economic downturn,
 coupled with the unavailability of funding sources for new Internet ventures.
 Banta will write off its investment and take a non-operating, non-cash charge
 in the first quarter ended March 31, 2001, of approximately $7 million, after
 tax (29 cents per diluted share).  Additionally, Banta has reacquired its two
 digital facilities that were transferred to XYAN.com as part of the original
 transaction.  Both facilities remain profitable and will continue to serve
 Banta's customers.
     "Our outlook for 2001 remains positive, as we expect the second half of
 the year to be stronger than the first half," notes Belcher.  "Overall, we
 should achieve another year of increased financial results, with both sales
 and earnings expected to reach record levels, excluding the one-time charge."
     Banta Corporation is a technology and market leader in printing and
 supply-chain management. Banta provides a comprehensive combination of
 printing and digital imaging solutions to leading publishers and direct
 marketers, including advanced digital content management and e-business
 services.  Banta's supply-chain management businesses provide a wide range of
 outsourcing capabilities to the world's largest technology companies.
 Services range from component procurement, product assembly and packaging to
 inventory control and global distribution.
     "Safe Harbor" Statement under the Private Securities Litigation Reform Act
 of 1995:
     This news release includes forward-looking statements. Statements that
 describe future expectations, including revenue and earnings projections,
 plans, results or strategies, are considered forward-looking.  Such statements
 are subject to certain risks and uncertainties that could cause actual results
 to differ materially from those currently anticipated.  Factors that could
 affect actual results include, among others, changes in customers' order
 patterns or demand for the corporation's products and services, changes in raw
 material costs and availability, unanticipated changes in operating expenses,
 unanticipated production difficulties, and general changes in economic
 conditions.  These factors should be considered in evaluating the
 forward-looking statements, and undue reliance should not be placed on such
 statements.  The forward-looking statements included herein are made as of the
 date hereof, and Banta undertakes no obligation to update publicly such
 statements to reflect subsequent events or circumstances.
     An electronic version of this news release, as well as other information
 about Banta Corporation, is available through the company's Web site at
 http://www.banta.com
 
 SOURCE  Banta Corporation