RR Donnelley -- Giant Transformation

As for 2003, Knotts sees uncertainty on the consumer side due to both the sluggish economy and military action in Iraq. Since business spending drives B2B, he envisions a lengthy recovery period.

"From RR Donnelley's perspective, a lot of the wins we had in 2002 are kicking in this year," Knotts says. "We're installing new equipment in both our consumer and B2B magazine platform to keep up with the growing demand. A lot of that equipment will come online in the second half of this year. The bulk of that is to meet increased demand from market share gains, as well as organic growth from existing customers. We feel cautiously optimistic about 2003."