Quad/Graphics Reports Sales Decline, Net Loss

2012 Outlook

Quad remains cautious about 2012 given the ongoing transformation in the industry.

“We anticipate our revenue to be approximately $4 billion, which excludes our discontinued operations in Canada that had 2011 revenues of $344 million,” Quadracci said. “In addition, we expect Adjusted EBITDA margin from continuing operations to be flat to slightly less than our 2011 Adjusted EBITDA margin of 14.3 percent, and recurring free cash flow to be in excess of $300 million.