For fiscal year 2011, the company reported net sales of $4.67 billion versus net sales of $4.76 billion for the previous year. The company reported Wednesday that its income for the year was $638 million due to stronger fourth quarter performance, beating its own estimate of $625 million.
“We are pleased with our 2011 fourth quarter results, which reflect our ongoing focus on improving productivity and aggressively managing costs, while continuing to pay down debt to strengthen our credit metrics and balance sheet,” said Joel Quadracci, Quad/Graphics Chairman, President & CEO.
On Feb.7, the company, based in Sussex, Wis., received authorization from the Canadian Competition Bureau to proceed with the sale of its Canadian business to Transcontinental, and expects the transaction to close shortly. Quad/Graphics entered into a agreement with Transcontinental in July to swap its Canadian operations for Transcontinental’s Mexican assets.