Quad/Graphics Reports Mixed Results for Quarter, Fiscal Year

“We anticipate full year 2011 Adjusted EBITDA to be slightly in excess of $700 million, and will be dependent on the extent to which volumes and the competitive pricing environment affect the economic recovery in the print market. Additionally, as we make further progress on our integration and other cost reduction efforts, we expect that there will be frictional costs associated with those activities, as was the case in 2010.”