Champion Reports Net Losses for Second Quarter and First Six MonthsJune 15, 2012
Reynolds concluded, “We have much to achieve in 2012 and we refuse to take our eye off the ball in terms of our core business. We are cognizant that we must address our debt situation and our pending line of credit maturity but we ultimately believe striving to improve our core business is a fundamental component of a solution for all parties in this regard.
“We are also aware that we may need to continue the exploration of additional strategic initiatives including asset sales that make reasonable sense to all parties. We also must diligently strive to complete certain initiatives, which are currently in process, but not yet completed as these actions should assist in accomplishing our long term goals. The company has many tasks to accomplish but we are committed to staying the course and persevering through the challenges ahead. ”
Champion is a commercial printer, business forms manufacturer and office products and office furniture supplier in regional markets east of the Mississippi. Champion also publishes The Herald-Dispatch daily newspaper in Huntington, WV with a total daily and Sunday circulation of approximately 24,000 and 30,000, respectively. Champion serves its customers through the following companies/divisions: Chapman Printing (West Virginia and Kentucky); Stationers, Champion Clarksburg, Capitol Business Interiors, Garrison Brewer, Carolina Cut Sheets, U.S. Tag and Champion Morgantown (West Virginia); Champion Output Solutions (West Virginia); The Merten Company (Ohio); Smith & Butterfield (Indiana and Kentucky); Champion Graphic Communications (Louisiana); and Consolidated Graphic Communications (Pennsylvania, New York and New Jersey); Donihe Graphics (Tennessee); Blue Ridge Printing (North Carolina) and Champion Publishing (West Virginia, Kentucky and Ohio).