Quad/Graphics Reports Volume Declines Continued

Excluding the Canadian operations, which are treated as a discontinued operation for accounting purposes, continuing operations net sales were $3.109 billion compared to $1,927 million in the same period in 2010. Continuing operations adjusted EBITDA and adjusted EBITDA margin were $431.3 million and 13.9 percent, compared to $272.8 million and 14.2 percent in the same period in 2010.