Worldcolor Sees Income Jump on Lower Revenues for Third Quarter

For the third quarter ended September 30, 2009, Worldcolor reported a combined consolidated net income of $13.3 million, compared to a net loss from continuing operations of $63.6 million for the same period in 2008. These results incorporated impairment of assets, restructuring and other charges (IAROC), net of income taxes, of $8.9 million compared with $5.1 million for the same period in 2008, as well as reorganization items of $13.0 million which, net of income taxes, compared to $24.0 million in the third quarter of 2008. In addition to the improvement in operating income, the Company benefited from reduced financial expense mainly due to gains on foreign exchange and lower interest expenses post emergence from creditor protection in July, 2009.