Quad/Graphics Posts Decline in Net Sales, Strengthens Balance Sheet

“We are proud of the progress we continue to make in strengthening our balance sheet through the repayment of $42 million in debt during the quarter, and $132 million in the first half of 2012,” said John Fowler, executive vice president and chief financial officer. “Our leverage ratio of 2.2x remains in our targeted range of 2.0x to 2.5x and we continue to generate significant Recurring Free Cash Flow to support our disciplined capital deployment strategy. Our quarterly dividend of $0.25 per share will be payable on Sept. 21, 2012, to shareholders of record as of Sept. 10, 2012.”