Worldcolor Sees Income Jump on Lower Revenues for Third Quarter

“We are encouraged by the positive response we have received from our customers and other stakeholders. We are focused on proactive relationships with customers and continue to make progress in renewing existing partnerships and beginning new ones,” commented Mr. Angelson.

Year-to-Date
For the three quarters of 2009, Worldcolor reported a combined consolidated net loss from continuing operations of $172.1 million, compared to a net loss from continuing operations of $289.9 million for the same period in 2008. The results for the three quarters of 2009 incorporate IAROC, net of income taxes, of $21.8 million compared to $47.8 million for the same period in 2008 as well as reorganization items of $62.1 million which, net of income taxes, compared to $62.3 million in the first three quarters of 2008. Combined consolidated revenues for the first three quarters of 2009 were $2.22 billion compared to $2.98 billion for the same period in 2008. The lower revenues are mainly due to decreased volume in addition to price erosion.