Quad/Graphics Reports Mixed Results for Quarter, Fiscal Year

“Our cash flow during the fourth quarter was very strong and allowed us to pay down $179 million of debt and continue to strengthen our balance sheet,” added John Fowler, executive vice president and CFO. “Of the $179 million, approximately $132 million was cash generated from operating activities and $60 million was from the reduction in restricted cash and collateral at Worldcolor, offset by the assumption of $13 million of debt in the HGI acquisition.