Champion Reports Net Loss for Quarter, Fiscal Year

The company experienced a decrease in sales for the year of $1.4 million, or 1.1 percent, from $129.9 million in 2010 to $128.5 million in 2011.

• The printing segment of the business reflected a sales decrease of $1.9 million, or 2.3 percent.
• The office products and office furniture segment showed an overall sales increase of $1.1 million, or 3.3 percent.
• The newspaper segment reported sales of $14.9 million in 2011 compared to $15.5 million in 2010, a decrease of $0.6 million or 4.1 percent.

The sales compression experienced by the company was primarily attributable to the overall global economic crisis and the related impact on the core business segments in which the Company operates, and is reflective of a continued difficult operating environment as well as macro industry dynamics within the newspaper segment.