Quad/Graphics Reports Slight Gains and Declares First Cash Dividend

“As 2011 unfolds, we know we must maintain our focus on sustainable cost reduction while pursuing profitable growth opportunities to carry the company forward. It’s important to note that Worldcolor had strong first and second quarters in 2010 created by cost reduction activities, primarily initiated during its bankruptcy, that were unsustainable. Given normal seasonality and the strength of Worldcolor’s first half of 2010, we expect to see improvement to period-over-period comparisons in the second half of the year.”