Champion Industries Returns to Profitability on Lower SalesJanuary 27, 2011
Reynolds concluded, "During the Great Recession we managed to pay down over $26 million of interest bearing debt. This is a testimony to the ability of our various business units to generate cash flow in times of absolute economic duress. We entered 2011 hopeful of the opportunities an economic recovery may bring to our stakeholders and cautious of the need to prepare for prolonged economic uncertainty. Our company is not without challenges in 2011, but I am confident the men and women of Champion Industries will rise to any future challenges and prepare us for better days 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 23,000 and 29,000, 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); Interform Solutions 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).
Source: Financial release.