Bowne Reports Increases in Revenue, Profit in Fourth Quarter

"We are pleased with our operating performance in the fourth quarter with revenue improving by 8% over last year and segment profit improving by $13 million. For the full year, our segment profit improved by 39% over 2008, despite a drop in revenue of approximately $91 million," said Dave Shea, Chairman and Chief Executive Officer. "We are optimistic about 2010, given the increased momentum in the capital markets, our strong back log entering the year, a streamlined cost structure and our more flexible operating model. In 2009, we also significantly strengthened the Company's capital structure, through a dramatic reduction in our debt levels, and completed an amendment and extension of our $123 million revolving credit facility, extending its maturity to May 2013. We're confident that we have the capital structure in place that will support our strategic growth plan."