Quad/Graphics, Inc. announced that it has sold its two remaining Book manufacturing facilities in Fairfield, Penn., and Martinsburg, W.Va., to Berryville Graphics, a division of Bertelsmann Printing Group USA, a leader in hard cover, mass market, trade and digest books, components and specialty finishing. The transaction closed on October 31, 2020. Quad will use proceeds from the sale to pay down debt. With this transaction, Quad has completed the full divestiture of its Book manufacturing platform – part of a previously announced strategic decision to optimize its product portfolio. In July, the company sold its only other book manufacturing facility in Versailles, Ky., to CJK Group, Inc.

Financial Summary *$1.78 billion of revenue in Q4, down 7.9 percent year-over-year, or down 7.4 percent in constant currency; $7.04 billion of FY revenue, up 0.2 percent year-over-year, or down 1.4 percent in constant currency. *Q4 and FY GAAP (loss)/earnings per share (EPS) of $(3.97) and $(2.56), down $4.33 and $3.40 year-over-year, respectively. Both Q4 and FY GAAP EPS include an after-tax non-cash goodwill impairment charge of $750 million or $4.38 and $4.08 per share, respectively. *$198 million of operating cash flow in Q4, down $37 million year-over-year; $629 million of FY operating cash flow, up $81 million year-over-year. *$182 million of free cash flow in Q4, down $39 million year-over-year; $561 million of FY free cash flow, up $87 million year-over-year. *Delivered $375 million of targeted 2021 gross cost savings through Project Own It, or $1.8 billion since inception. *Returned more than $1 billion to shareholders, close to double FY 2021 free cash flow.

Quantum Group and Landa Digital Printing have announced that installation of the first Landa S11P Nanographic Printing Press in the US, at Quantum’s Chicago, plant, is now complete. The Landa S11P is Quantum’s second Landa press and one of two new B1 digital press models announced by Landa at a pre-drupa press briefing in March. The Landa S11 and S11P models offer 11,200 sph continuous print speed; Landa’s PrintAI for high fidelity, precision print quality; and additional modules that can be utilized for custom configurations. “We’ve purchased our second Landa press because the experience with the first has been so positive,” says Quantum Group CEO, Cheryl Kahanec. “The Landa press platform, overall, is opening a world of opportunity for us. From 41-inch sheet size and high speed to color range and substrate compatibility; Landa presses consistently – and sustainably – produce high end and variable content for so many different applications.” The additional capacity provided by the Landa S11P will help support growth that Quantum credits to the S10P’s positive impact on plant-wide production and new business. In addition, Kahanec believes that the company will now beat its timeline estimates for at least two new application initiatives.