Consolidated Graphics Reports Revenue Decline, Income Stability in Fourth Quarter

Adjusted Operating Income for the December 2009 quarter was $23.0 million or 8.3% of revenue compared to $25.4 million or 8.0% of revenue for the same quarter last year. Despite the impact of lower revenues, continued cost reduction efforts in 2009 allowed for a modest improvement in Adjusted Operating Margin. Adjusted Net Income for the December 2009 quarter was $14.1 million, or $1.23 Adjusted Diluted Earnings Per Share compared to Adjusted Net Income of $13.7 million, or $1.21 Adjusted Diluted Earnings Per Share for the prior year quarter.