Canadian Magazine Industry News
17 August 2009,     MONTREAL
World Color Press Q2 losses an improvement over last year
World Color Press, the printing company formerly known as Quebecor World Inc., reported a second quarter loss of US$59.5 million, an improvement over the loss of US$77.1 million in the same period a year ago.

Revenue dipped by 28% to US$702.5 million, down from US$975.5 million last year.

The company is hoping to save $100 million in costs from its recently announced plan of cutting wages and benefits for union and non-union workers.

It also announced yesterday that it had cut selling, general and administrative expenses by 17% compared to last year.

Quebecor World emerged from bankruptcy protection last month under the new moniker, World Color Press.

The printer recently announced a mult-year deal to continue printing ESPN The Magazine in to the next decade.
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