Quad/Graphics Reports Flat Sales, Details Plant Closures

As reported, net sales were $1,208.7 million compared to as reported net sales of $471.6 million in the same period in 2009. On an as reported basis, Adjusted EBITDA was $159.2 million compared to $94.6 million in the same period in 2009.

As reported 2010 net loss attributable to common shareholders in the three months was $232.5 million, or ($5.01) per share, versus income of $28.4 million or $0.98 diluted earnings per share in the same period in 2009. The results for the third quarter of 2010 include $74.0 million in restructuring, impairment and transaction-related charges (of which $10.3 million is non-cash) associated with the Worldcolor acquisition and the recently completed public company registration process as well as a one-time non-cash income tax expense in 2010 of $200.5 million due to the recognition of net deferred tax liabilities as a result of the company's tax status changing from an S Corporation to a C Corporation.