Quad/Graphics Reports Mixed Results for Quarter, Fiscal Year

Year-to-Date

For the 12 months ended Dec. 31, 2010, pro forma net sales were $4.765 billion compared to $4.873 billion in the same period in 2009. Pro forma Adjusted EBITDA and Pro forma Adjusted EBITDA margin were $671.9 million and 14.1 percent compared to $653.1 million and 13.4 percent in the same period in 2009. Net sales were $3,392 million compared to as $1,789 million in the same period of 2009. Adjusted EBITDA was $503.0 million compared to $326.3 million in the same period in 2009.