Champion Reports Net Loss for Quarter, Fiscal Year

This debt was paid down during a significant economic downturn and severe secular decline within our printing and newspaper segments. The company has achieved this debt reduction through a combination of earnings, cash flow, equity additions and working capital management.

Reynolds concluded, “I am confident that with our sales stabilized we can renew our efforts to grow in certain strategic areas that have been identified by our management team. We continue to operate under the premise that the economy may not provide a substantial lift to our Company or our industry segments. Nevertheless, we believe there are opportunities for improvement and we are working diligently to identify, evaluate and implement these opportunities.”