Quad/Graphics Reports Slight Gains and Declares First Cash Dividend

As-reported 2011 net loss attributable to common shareholders in the three months was $7.3 million vs. a net loss of $8.5 million in the same period in 2010. The first quarter results include restructuring, impairment and transaction-related charges of $34.8 million and $6.3 million in 2011 and 2010, respectively. Excluding the effects of restructuring, impairment and transaction-related charges and utilizing a 47 percent first quarter effective tax rate in both periods, net earnings would have been $11.1 million in the three months ended March 31, 2011, vs. net earnings of $0.1 million in the same period last year.

About Quad/Graphics
Quad/Graphics (NYSE: QUAD) is a global provider of print and related multichannel solutions for consumer magazines, special interest publications, catalogs, retail inserts/circulars, direct mail, books, directories, commercial and specialty products, including in-store signage. Headquartered in Sussex, Wis. (just west of Milwaukee), the company has approximately 25,000 full-time equivalent employees working from approximately 60 print-production facilities as well as other support locations throughout the United States, Canada, Latin America and Europe. As a printing industry innovator, Quad/Graphics (www.QG.com) is redefining the power of print in today’s multimedia world by helping its clients use print as the foundation of multichannel communications strategies to drive their top-line revenues.