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Quad/Graphics Reports Second Quarter And Year-To-Date June 2012 Results

Stocks in this article: QUAD

“We are proud of the progress we continue to make in strengthening our balance sheet through the repayment of $42 million in debt during the quarter, and $132 million in the first half of 2012,” said John Fowler, Executive Vice President & Chief Financial Officer. “Our leverage ratio of 2.2x remains in our targeted range of 2.0x to 2.5x and we continue to generate significant Recurring Free Cash Flow to support our disciplined capital deployment strategy. Our quarterly dividend of $0.25 per share will be payable on September 21, 2012, to shareholders of record as of September 10, 2012.”

For the first six months of 2012, net sales were $1.92 billion versus net sales of $2.0 billion for the same period in 2011, reflecting expected volume and price pressures combined with impacts from continued economic uncertainty and secular pressures. Year-to-date Adjusted EBITDA was $238 million versus $258 million in 2011, reflecting lower volumes partially offset by lower selling, general and administrative costs. Recurring Free Cash Flow was $167 million for the first six months of 2012 compared to $102 million in the first six months of 2011, continuing a track record of solid cash flow generation.

Second Quarter Conference Call

Quad/Graphics (NYSE: QUAD) will hold a conference call at 10 a.m. ET / 9 a.m. CT on Wednesday, August 8, to discuss second quarter 2012 results. To access the conference call, it is recommended that you listen via computer at: http://us.meeting-stream.com/quadgraphics_080812/.

If for any reason you are unable to stream, you can listen to the audio via the telephone by calling:

  • Toll-Free: (877) 217 - 9946 (US/Canada)
  • Toll: (702) 696 - 4824 (International)
  • Conference ID: 89370002

The replay will be available for 30 days following the conference call. To access the replay via phone, please call (855) 859-2056 or (404) 537-3406 and enter the Conference ID number 89370002. To access the replay via the internet, please use the following link: http://us.meeting-stream.com/quadgraphics_080812/. Registration is required for replay.

Forward-Looking Statements

To the extent any statements in this press release contain information that is not historical, these statements are forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements relate to, among other things, the objectives, goals, strategies, beliefs, intentions, plans, estimates, prospects, projections and outlook of Quad/Graphics, and can generally be identified by the use of words such as “may,” “will,” “expect,” “intend,” “estimate,” “anticipate,” “plan,” “foresee,” “believe” or “continue” or the negatives of these terms, variations on them and other similar expressions. In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances are forward-looking statements.

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