Quad/Graphics Inc. reported a first quarter net loss of $14.1 million, or 31 cents per share, compared with net earnings of$47.5 million, or $1.01 per share, in the same period a year ago.
The Sussex-based printer’s quarterly sales grew to $1.1 billion from $989.6 million a year earlier.
During the quarter, Quad/Graphics completed the acquisition of Vertis Holdings Inc.
“Our first quarter results were in line with our expectations and we reaffirm our previously released 2013 annual guidance,” said Joel Quadracci, Quad/Graphics chairman, president and chief executive officer. “In addition, we are pleased with our progress to date on the integration of Vertis. Our integration team has been focused on cost-savings initiatives and improving the overall efficiency and productivity of our platform, while also ensuring we continue to serve our clients well. Going forward, we remain focused on improving productivity; maintaining a strong and flexible balance sheet; investing in our existing business as well as pursuing profitable investment opportunities; and creating long-term value for our shareholders.”
