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Worldcolor Reports Fourth Quarter


March 2, 2010
By Jon Robinson

In the fourth quarter of 2009, Worldcolor generated consolidated revenues from continuing operations of $848 million compared to $1.0 billion in the fourth quarter of 2008, which represents a decline of 18 percent. Also in the fourth quarter of 2009, Worldcolor reported that its cost of sales decreased by 23 percent compared
to last year’s quarter.

In late January of this year, Quad/Graphics Inc. announced its intent to acquire Montreal-based World Color Press Inc. The transaction is expected to close approximately in the summer of 2010.

Consolidated operating income in the fourth quarter of 2009 before IAROC was $83 million, compared to $50 million in the fourth quarter of 2008. Worldcolor also reported that its consolidated adjusted EBITDA was $132 million in the fourth quarter of 2009, compared to $118 million in the fourth quarter of 2008.

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For the combined full year of 2009, Worldcolor reported combined adjusted EBITDA of $329 million, nearly 60 percent of which was earned in the five-month period after emerging from bankruptcy. The 2009 combined consolidated net loss from continuing operations was $154 million, compared to a net loss from continuing operations of $944 million for the same period in 2008.

 


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