World Color Press Reports Revenue and Earnings Decline in Second Quarter
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Year to Date For the first half of 2009, World Color reported a net loss from continuing operations of $185.4 million, compared to a net loss from continuing operations of $226.3 million for the same period in 2008. The results for the first half of 2009 incorporate IAROC, net of income taxes, of $12.9 million compared to $42.7 million in 2008, as well as reorganization items of $49.1 million which, net of income taxes, compared to $38.3 million in the first half of 2008. Consolidated operating revenues for the first half of 2009 were $1.46 billion compared to $1.99 billion in the same period of 2008. The lower operating revenues are due to decreased volume and price pressures.
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