Standard Register has contributed $18.7 million to the Company’s qualified pension plan in the first nine months of 2012 and expects to contribute at least another $2 million in the fourth quarter. Based on provisions of the highway reauthorization legislation signed into law in July, the Company updated pension-funding expectations for 2012 and 2013, which were previously expected to total $53 million. With relief provided by the Moving Ahead for Progress in the 21 st Century Act (MAPS-21), commonly called the highway bill, the contribution for 2012 is expected to be $20.7 million and $26.8 million in 2013, a decrease of $5.5 million from the earlier estimate. Currently, the Company expects contributions to total $42 million in 2014.
Standard Register’s President and Chief Executive Officer Joseph P. Morgan, Jr. and Chief Financial Officer Robert Ginnan will host a conference call at 10:00 a.m. EDT on Friday, October 26, 2012, to review the third quarter results. The call can be accessed via an audio webcast accessible at http://www.standardregister.com/investorcenter.
About Standard RegisterStandard Register (NYSE:SR), celebrating 100 years of innovation, is trusted by the world’s leading companies to advance their reputations by aligning communications with corporate standards and priorities. Providing market-specific insights and a compelling portfolio of solutions to address the changing business landscape in healthcare, financial services, commercial and industrial markets, Standard Register is the recognized leader in the management and execution of mission-critical communications. More information is available at http://www.standardregister.com. Safe Harbor Statement This press release contains forward-looking statements covered by the Private Securities Litigation Reform Act of 1995. Because such statements deal with future events, they are subject to various risks and uncertainties and actual results could differ materially from the Company’s current expectations. Factors that could cause the Company’s results to differ materially from those expressed in forward-looking statements include, without limitation, our access to capital for expanding in Core solutions, the pace at which digital technologies erode the demand for certain legacy products, the success of our plans to deal with the threats and opportunities brought by digital technology, results of cost containment strategies and restructuring programs, our ability to attract and retain key personnel, variation in demand and acceptance of the Company’s products and services, frequency, magnitude and timing of paper and other raw material price changes, the timing of the completion and integration of acquisitions, general business and economic conditions beyond the Company’s control, and the consequences of competitive factors in the marketplace, including the ability to attract and retain customers. The Company undertakes no obligation to revise or update forward-looking statements as a result of new information, since these statements may no longer be accurate or timely. For more information, see the Company’s most recent Form 10-K and other filings with the Securities and Exchange Commission.