| West      Virginia                                                  |   | 55-0717455                                |
|---------------------------------------------------------------------|--------|-------------------------------------------|
| (State      or other jurisdiction of incorporation or organization) |   | (I.R.S.      Employer Identification No.) |

|  Large accelerated filer o |  Accelerated filer o   |  Non-accelerated filer o                      | Smaller reporting company þ |
|---------------------------------|---------------------------------------|----------------------------------------------------|----------------------------------|
|                            |                                  |  (Do not check if a smaller reportingcompany) |                             |

|  Class                                        |   |  Outstanding      at April 30, 2008 |
|----------------------------------------------------|--------|------------------------------------------|
|  Common      stock, $1.00 par value per share |   |  9,987,913 shares                   |

|                                                                                                                                 |  Page      No. |
|--------------------------------------------------------------------------------------------------------------------------------------|---------------------|
|  Part      I.   Financial      Information                                                                       |                |
|   Item      1.  Financial Statements                                                                                  |                |
|     Consolidated      Balance Sheets (Unaudited)                                                                 | 3                   |
|     Consolidated      Statements of Income (Unaudited)                                                      | 5                   |
|     Consolidated      Statements of Shareholders' Equity (Unaudited)                                        | 6                   |
|     Consolidated      Statements of Cash Flows (Unaudited)                                                       | 7                   |
|     Notes      to Consolidated Financial Statements                                                              | 8                   |
|   Item      2.  Management’s Discussion and Analysis of Financial Condition      and Results of Operations | 15                  |
|   Item      3a.  Quantitative and Qualitative Disclosure About Market      Risk                                       |  21            |
|   Item      4T.  Controls      and Procedures                                                                         | 21                  |
|  Part      II. Other      Information                                                                                      |                |
|   Item      1A.  Risk Factors                                                                                         |   22      |
|   Item 4. Submission      of Matters to a Vote of Security Holders                                                         | 22                  |
|   Item      6.       Exhibits                                                                                         | 22                  |
|  Signatures                                                                                                                     | 23                  |

----

| ASSETS                                                                                          |   | April      30,  |   |   |    | October      31, |   |
|-------------------------------------------------------------------------------------------------|--------|-----------------|--------|--------|---------|------------------|--------|
|                                                                                            |   | 2008(Unaudited) |   |   |    | 2007(Audited)    |   |
| Current      assets:                                                                            |   |            |   |   |    |             |   |
|           Cash and cash equivalents                                         | $      | 786,937         |   |   | $  | 5,793,120        |   |
|     Accounts      receivable, net of allowance of $1,455,000 and $1,511,000 |   | 20,934,387      |   |   |    | 23,239,103       |   |
|      Inventories                                                       |   | 11,540,859      |   |   |    | 11,504,847       |   |
|  Income      tax refund                                                                    |   | 138,912         |   |   |    | 632,439          |   |
|           Other current assets                                              |   | 1,387,960       |   |   |    | 882,535          |   |
|           Deferred income tax assets                                        |   | 1,066,611       |   |   |    | 969,664          |   |
|       Total      current assets                                   |   | 35,855,666      |   |   |    | 43,021,708       |   |
|                                                                                            |   |            |   |   |    |             |   |
|           Property and equipment, at cost:                                  |   |            |   |   |    |             |   |
|       Land                                                        |   | 2,120,689       |   |   |    | 2,120,689        |   |
|       Buildings      and improvements                             |   | 12,332,739      |   |   |    | 12,262,229       |   |
|       Machinery      and equipment                                |   | 56,326,813      |   |   |    | 55,763,920       |   |
|       Furniture      and fixtures                                 |   | 4,113,300       |   |   |    | 4,088,761        |   |
|       Vehicles                                                    |   | 3,283,986       |   |   |    | 3,185,555        |   |
|                                                                                            |   | 78,177,527      |   |   |    | 77,421,154       |   |
|       Less      accumulated depreciation                          |   | (50,095,565     | )      |   |    | (48,164,640      | )      |
|                                                                                            |   | 28,081,962      |   |   |    | 29,256,514       |   |
|                                                                                            |   |            |   |   |    |             |   |
|     Cash      surrender value of officers’ life insurance             |   | 834,106         |   |   |    | 834,106          |   |
|     Goodwill                                                                |   | 38,854,364      |   |   |    | 38,853,657       |   |
| Deferred financing      costs                                                                   |   | 1,663,405       |   |   |    | 1,818,140        |   |
|     Other      intangibles, net of accumulated amortization                 |   | 16,256,712      |   |   |    | 16,779,241       |   |
|   Trademark      & masthead                                                       |   | 18,515,316      |   |   |    | 18,515,316       |   |
|           Other assets                                                      |   | 77,490          |   |   |    | 132,909          |   |
|                                                                                            |   | 76,201,393      |   |   |    | 76,933,369       |   |
|     Total      assets                                                       | $      | 140,139,021     |   |   | $       | 149,211,591      |   |

----

| LIABILITIES      AND SHAREHOLDERS’ EQUITY                                                                                                  | April      30,  |        | October      31, |   |
|--------------------------------------------------------------------------------------------------------------------------------------------------|-----------------|-------------|------------------|--------|
|                                                                                                                                             | 2008(Unaudited) |        | 2007(Audited)    |   |
| Current      liabilities:                                                                                                                        |            |        |             |   |   |   |
|   Accounts      payable                                                                                                                | $               | 4,748,069   |             | $      | 5,491,189 |   |
|   Accrued      payroll                                                                                                                 |            | 2,082,397   |             |   | 2,460,287 |   |
|   Taxes      accrued and withheld                                                                                                      |            | 700,023     |             |   | 1,294,125 |   |
|   Accrued      expenses                                                                                                                |            | 1,647,645   |             |   | 3,433,971 |   |
|   Current      portion of long-term debt                                                                                               |            | 5,121,933   |             |   | 5,033,637 |   |
|       Total      current liabilities                                                                               |            | 14,300,067  |             |   | 17,713,209 |   |
|                                                                                                                                             |            |        |             |   |   |   |
| Long-term      debt, net of current portion:                                                                                                     |            |        |             |   |   |   |
| Notes      payable, line of credit                                                                                                               |            | 10,125,496  |             |   | 15,540,496 |   |
| Notes      payable, term                                                                                                                         |            | 61,845,255  |             |   | 63,837,402 |   |
| Other      liabilities                                                                                                                           |            | 932,943     |             |   | 10,950 |   |
| Deferred      income tax liabilities                                                                                                             |            | 3,221,400   |             |   | 3,382,447 |   |
|       Total      liabilities                                                                                       |            | 90,425,161  |             |   | 100,484,504 |   |
| Shareholders’      equity:                                                                                                                 |            |        |             |   |   |   |
|   Common      stock, $1 par value, 20,000,000 shares authorized;  9,987,913      and 9,968,913 shares issued and outstanding |            | 9,987,913   |             |   | 9,968,913 |   |
|   Additional      paid-in capital                                                                                                      |            | 22,768,610  |             |   | 22,733,300 |   |
|   Retained      earnings                                                                                                               |            | 17,511,073  |             |   | 16,036,224 |   |
|   Other      comprehensive loss                                                                                                        |            | (553,736    | )                |   | (11,350 | ) |
|      Total      shareholders’ equity                                                                              |            | 49,713,860  |             |   | 48,727,087 |   |
|  Total      liabilities and shareholders’ equity                                                                                      | $               | 140,139,021 |             | $      | 149,211,591 |   |

----

|                                                                        |   | Three      Months EndedApril      30, | Six      Months EndedApril      30, |    |
|----------------------------------------------------------------------------------|--------|---------------------------------------|-------------------------------------|---------|
|                                                                             |   |                                  | 2008                                |    |   | 2007 |   |   | 2008 |   |   | 2007 |   |
| Revenues:                                                                        |   |                                  |                                |    |   |   |   |   |   |   |   |   |   |
|   Printing                                                             |   | $                                     | 26,283,156                          |    | $ | 25,295,295 |   | $ | 51,463,289 |   | $ | 51,157,662 |   |
|   Office products and      office furniture                            |   |                                  | 8,440,397                           |    |   | 8,518,582 |   |   | 18,518,254 |   |   | 17,595,548 |   |
|   Newspaper                                                            |   |                                  | 4,547,667                           |    |   | -  |   |   | 9,583,449 |   |   | -  |   |
|     Total      revenues                                      |   |                                  | 39,271,220                          |    |   | 33,813,877 |   |   | 79,564,992 |   |   | 68,753,210 |   |
|                                                                             |   |                                  |                                |    |   |   |   |   |   |   |   |   |   |
| Cost      of sales & newspaper operating costs:                              |   |                                  |                                |    |   |   |   |   |   |   |   |   |   |
|   Printing                                                             |   |                                  | 18,467,880                          |    |   | 17,752,603 |   |   | 36,268,934 |   |   | 35,990,905 |   |
|   Office products and      office furniture                            |   |                                  | 5,694,004                           |    |   | 5,869,953 |   |   | 13,019,447 |   |   | 12,219,956 |   |
|   Newspaper cost of      sales & operating costs              |   |                                  | 2,338,883                           |    |   |  - |   |   | 4,609,613 |   |   | - |   |
|     Total      cost of sales & newspaper operating costs |   |                                  | 26,500,767                          |    |   | 23,622,556 |   |   | 53,897,994 |   |   | 48,210,861 |   |
| Gross      profit                                                                |   |                                  | 12,770,453                          |    |   | 10,191,321 |   |   | 25,666,998 |   |   | 20,542,349 |   |
|                                                                             |   |                                  |                                |    |   |   |   |   |   |   |   |   |   |
|     Selling,      general and administrative expenses        |   |                                  | 9,696,180                           |    |   | 7,769,311 |   |   | 19,388,887 |   |   | 15,899,643 |   |
|                                                                             |   |                                  |                                |    |   |   |   |   |   |   |   |   |   |
| Income      from operations                                                      |   |                                  | 3,074,273                           |    |   | 2,422,010 |   |   |  6,278,111 |   |   |  4,642,706 |   |
| Other      income (expenses):                                                    |   |                                  |                                |    |   |   |   |   |   |   |   |   |   |
|           Interest income                                    |   |                                  | 25,999                              |    |   | 12,842 |   |   | 51,235 |   |   | 18,073 |   |
|           Interest expense                                   |   |                                  | (1,365,777                          | )       |   | (152,162 | ) |   | (3,114,959 | ) |   | (286,066 | )  |
|           Other                                              |   |                                  | 19,700                              |    |   | 14,858 |   |   | 32,915 |   |   | 18,880 |   |
|                                                                             |   |                                  | (1,320,078                          | )       |   | (124,462 | ) |   | (3,030,809 | ) |   | (249,113 | )  |
| Income      before income taxes                                                  |   |                                  | 1,754,195                           |    |   | 2,297,548 |   |   | 3,247,302 |   |   | 4,393,593 |   |
|           Income tax expense                                 |   |                                  | (359,279                            | )  |   | (907,806 | )  |   | (574,138 | ) |   | (1,735,691 | ) |
| Net      income                                                                  |   | $                                     | 1,394,916                           |    | $ | 1,389,742 |   | $ | 2,673,164 |   | $ | 2,657,902 |   |
|                                                                             |   |                                  |                                |    |   |   |   |   |   |   |   |   |   |
| Earnings      per share                                                          |   |                                  |                                |    |   |   |   |   |   |   |   |   |   |
|           Basic                                              |   | $                                     | 0.14                                |    | $ | 0.14 |   | $ | 0.27 |   | $ | 0.27 |   |
|           Diluted                                            |   | $                                     | 0.14                                |    | $ | 0.14 |   | $ | 0.27 |   | $ | 0.26 |   |
|                                                                             |   |                                  |                                |    |   |   |   |   |   |   |   |   |   |
| Weighted      average shares outstanding:                                        |   |                                  |                                |    |   |   |   |   |   |   |   |   |   |
|           Basic                                              |   |                                  | 9,988,000                           |    |   | 9,962,000 |   |   | 9,985,000 |   |   | 9,950,000 |   |
|           Diluted                                            |   |                                  | 10,041,000                          |    |   | 10,133,000 |   |   | 10,043,000 |   |   | 10,121,000 |   |
| Dividends      per share                                                         |   | $                                     | 0.06                           |    | $ | 0.06 |   | $ | 0.12 |   | $ | 0.12 |   |

----

|                                                   |              |      |    |    | Additional |   |                      |       |   Other |    |       |    |
|--------------------------------------------------------|-------------------|-----------|---------|---------|------------|--------|---------------------------|------------|-------------------|---------|------------|---------|
|                                                   | Common      Stock |      | Paid-In |    | Retained   |   |   Comprehensive |       |              |    |
|                                                   | Shares            |      | Amount  |    | Capital    |   | Earnings                  |       |   Loss  |    | Total      |    |
| Balance,      October 31, 2007                         |              | 9,968,913 |    |  $ | 9,968,913  |   |  $                   | 22,733,300 |              |  $ | 16,036,224 |    |  $ | (11,350 | ) |  $ | 48,727,087 |   |
|                                                   |              |      |    |    |       |   |                      |       |              |    |       |    |   |   |   |   |   |   |
| Comprehensive      income:                             |              |      |    |    |       |   |                      |       |              |    |       |    |   |   |   |   |   |   |
|   Net income for      2008                   |              | -         |    |    | -          |   |                      | -          |              |    | 2,673,164  |    |   |  - |   |   | 2,673,164 |   |
| Other      comprehensive loss (net of tax)             |              | -         |    |    | -          |   |                      | -          |              |    | -          |    |   | (542,386 | ) |   | (542,386 | ) |
|     Total      comprehesive income |              | -         |    |    | -          |   |                      | -          |              |    | 2,673,164  |    |   | (542,386 | ) |   | 2,130,778  |   |
|                                                   |              |      |    |    |       |   |                      |       |              |    |       |    |   |   |   |   |   |   |
|   Dividends ($0.12      per share)           |              | -         |    |    | -          |   |                      | -          |              |    | (1,198,315 | )  |   |  - |   |   | (1,198,315 | )  |
|   Stock options      exercised               |              | 19,000    |    |    | 19,000     |   |                      | 35,310     |              |    | -     |    |   |  - |   |   | 54,310 |   |
|                                                   |              |      |    |    |       |   |                      |       |              |    |       |    |   |   |   |   |   |   |
| Balance,      April 30, 2008                           |              | 9,987,913 |    | $       | 9,987,913  |   | $                         | 22,768,610 |              | $       | 17,511,073 |    | $ |  (553,736 | )  | $ | 49,713,860 |   |

----

|                                                                                    |   | Six      Months Ended April 30, |       |
|-----------------------------------------------------------------------------------------|--------|---------------------------------|------------|
|                                                                                    |   | 2008                            |       | 2007 |   |
| Cash      flows from operating activities:                                              |   |                            |       |   |   |
| Net      income                                                                         |   | $                               | 2,673,164  |   | $ | 2,657,902 |   |
| Adjustments      to reconcile net income to cash provided      by operating activities: |   |                            |       |   |   |   |   |
|   Depreciation and      amortization                                          |   |                            | 2,679,538  |   |   | 1,853,982 |   |
|   Deferred financing      costs                                          |   |                            | 154,735    |   |   | -  |   |
|   Gain on sale of      assets                                                 |   |                            | (3,877     | )  |   | (1,269 | ) |
|      Deferred      income taxes                                |   |                            | 111,163    |   |   | (195,440 | )  |
|           Increase in deferred compensation                         |   |                            | -          |   |   | 893 |   |
|           Bad debt expense                                          |   |                            | 242,448    |   |   | 177,687 |   |
|           Changes in assets and liabilities:                        |   |                            |       |   |   |   |   |
|     Accounts      receivable                                        |   |                            | 2,062,268  |   |   | 466,726 |   |
|     Inventories                                                     |   |                            | (36,012    | ) |   | 77,541 |   |
|     Other      current assets                                       |   |                            | (505,425   | ) |   | (476,367 | ) |
|     Accounts      payable                                           |   |                            | (731,770   | )  |   | (287,752 | ) |
|     Accrued      payroll                                            |   |                            | (377,890   | ) |   | (409,112 | ) |
|     Taxes      accrued and withheld                                 |   |                            | (594,102   | )  |   | (49,022 | ) |
|     Income      taxes                                               |   |                            | 493,527    |   |   | (770,813 | )  |
|     Accrued      expenses                                           |   |                            | (170,210   | ) |   | 37,634 |   |
|     Other      liabilities                                          |   |                            | (900       | ) |   | (1,230 | ) |
|           Net cash provided by operating activities                 |   |                            | 5,996,657  |   |   | 3,081,360 |   |
|                                                                                    |   |                            |       |   |   |   |   |
| Cash      flows from investing activities:                                              |   |                            |       |   |   |   |   |
| Purchases      of property and equipment                                                |   |                            | (1,035,117 | ) |   | (1,934,269 | ) |
| Proceeds      from sales of property                                                    |   |                            | 62,538     |   |   | 78,796 |   |
| Businesses      acquired                                                                |   |                            | (1,616,823 | ) |   | (1,350,725 | ) |
| Change in      other assets                                                        |   |                            | 49,418     |   |   | (60,461 | )  |
|           Net cash used in investing activities                     |   |                            | (2,539,984 | ) |   | (3,266,659 | ) |
|                                                                                    |   |                            |       |   |   |   |   |
| Cash      flows from financing activities:                                              |   |                            |       |   |   |   |   |
| Borrowings      on line of credit                                                       |   |                            | -          |   |   | 7,877,000 |   |
| Payments      on line of credit                                                         |   |                            | (5,415,000 | ) |   | (7,664,000 | ) |
| Proceeds      from term debt and leases                                                 |   |                            | 767,852    |   |   | 1,675,633 |   |
| Principal      payments on long-term debt                                               |   |                            | (2,671,703 | ) |   | (2,030,247 | ) |
| Proceeds      from exercise of stock options                                            |   |                            | 54,310     |   |   | 126,060 |   |
| Dividends      paid                                                                     |   |                            | (1,198,315 | ) |   | (1,193,869 | ) |
|           Net cash used in financing activities                     |   |                            | (8,462,856 | ) |   | (1,209,423 | ) |
| Net      decrease in cash and cash equivalents                                          |   |                            | (5,006,183 | )  |   | (1,394,722 | )  |
| Cash      and cash equivalents, beginning of period                                     |   |                            | 5,793,120  |   |   | 5,486,577 |   |
| Cash      and cash equivalents, end of period                                           |   | $                               | 786,937    |   | $ | 4,091,855 |   |

----

|                                         |   | April      30, |       | October      31, |   |
|----------------------------------------------|--------|----------------|------------|------------------|--------|
|                                         |   | 2008           |       | 2007             |   |
| Printing      and newspaper:                 |   |           |       |             |   |
|     Raw      materials   |   | $              | 2,872,225  |             | $      | 2,401,340 |   |
|     Work in      process |   |           | 1,630,449  |             |   | 1,906,301 |   |
|     Finished      goods  |   |           | 4,417,062  |             |   | 4,003,318 |   |
| Office      products and office furniture    |   |           | 2,621,123  |             |   | 3,193,888 |   |
|                                         |   | $              | 11,540,859 |             | $      | 11,504,847 |   |

----

|                                        |   | April      30, |                                              | October      31, |    |
|---------------------------------------------|--------|----------------|---------------------------------------------------|------------------|---------|
|                                        |   | 2008           |                                              | 2007             |    |
| Installment      notes payable to banks     |   |  $        |             867,188 |             |  $ | 171,039 |   |
| Term      loan facility with a bank         |   |           | 66,100,000                                        |             |    | 68,700,000 |   |
|                                        |   |           | 66,967,188                                        |             |    | 68,871,039 |   |
| Less      current portion                   |   |           | 5,121,933                                         |             |    | 5,033,637 |   |
| Long-term      debt, net of current portion |   | $              | 61,845,255                                        |             | $       | 63,837,402 |   |

----

|                                 |   | Payments      Due by Fiscal Year |
|--------------------------------------|--------|----------------------------------|
| Contractual      Obligations         |   | 2008                             |   | 2009 |   | 2010 |   | 2011 |   | 2012 |   |   | Residual |   | Total |   |
|                                 |   |                             |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Non-cancelable      operating leases |   | $                                | 621,540 |   | $ | 1,133,242 |   | $ | 836,415 |   |  $ | 733,745 |   |  $ | 576,703 |   |  $ | 490,244 |   |  $ | 4,391,889 |   |
|                                 |   |                             |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Revolving      line of credit        |   |                             | - |   |   | - |   |   | - |   |   | - |   |   | 10,125,496 |   |   | - |   |   | 10,125,496 |   |
|                                 |   |                             |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Term      debt                       |   |                             | 2,567,346 |   |   | 5,078,981 |   |   | 5,049,194 |   |   | 5,057,218 |   |   | 5,065,674 |   |   |  44,148,775 |   |   | 66,967,188 |   |
|                                 |   |                             |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Equipment      purchase obligations  |   |                             |   558,598 |   |   | - |   |   | - |   |   | - |   |   |  - |   |   | - |   |   | 558,598 |   |
|                                 |   |                             |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                 |   | $                                | 3,747,484 |   | $ | 6,212,223 |   | $ | 5,885,609 |   | $ | 5,790,963 |   |  $ | 15,767,873 |   |  $ |  44,639,019 |   |  $ | 82,043,171 |   |

----

----

| 2008      Quarter 2                      |   | Printing |       | Office      Products & Furniture |   | Newspaper  |   | Total  |       |
|------------------------------------------|--------|----------|------------|--------------------------------------|--------|------------|--------|--------|------------|
|                                     |   |     |       |                                 |   |       |   |   |       |
| Revenues                                 |   | $        | 29,624,176 |                                 | $      | 10,513,065 |   | $      | 4,547,667  |   | $ | 44,684,908 |   |
| Elimination      of intersegment revenue |   |     | (3,341,020 | )                                    |   | (2,072,668 | )      |   | -          |   |   | (5,413,688 | ) |
| Consolidated      revenues               |   | $        | 26,283,156 |                                 | $      | 8,440,397  |   | $      | 4,547,667  |   | $ | 39,271,220 |   |
|                                     |   |     |       |                                 |   |       |   |   |       |   |   |   |   |
| Operating      income                    |   |     | 1,844,897  |                                 |   | 472,077    |   |   | 757,299    |   |   | 3,074,273 |   |
| Depreciation      & amortization     |   |     | 840,732    |                                 |   | 56,405     |   |   | 455,285    |   |   | 1,352,422 |   |
| Capital      expenditures                |   |     | 644,434    |                                 |   | 10,028     |   |   | 21,022     |   |   | 675,484 |   |
| Identifiable      assets                 |   |     | 56,219,332 |                                 |   | 2,550,617  |   |   | 81,369,072 |   |   | 140,139,021 |   |
| Goodwill                                 |   |     | 2,226,837  |                                 |   | 1,230,485  |   |   | 35,397,042 |   |   | 38,854,364 |   |
|                                     |   |     |       |                                 |   |       |   |   |       |   |   |   |   |
| 2007      Quarter 2                      |   | Printing |       | Office      Products & Furniture |   | Newspaper  |   | Total  |       |
|                                     |   |     |       |                                 |   |       |   |   |       |   |   |   |   |
| Revenues                                 |   | $        | 28,525,389 |                                 | $      | 10,594,012 |   | $      | -          |   | $ | 39,119,401 |   |
| Elimination      of intersegment revenue |   |     | (3,230,094 | )                                    |   | (2,075,430 | )      |   | -          |   |   | (5,305,524 | ) |
| Consolidated      revenues               |   | $        | 25,295,295 |                                 | $      | 8,518,582  |   | $      | -          |   | $ | 33,813,877 |   |
|                                     |   |     |       |                                 |   |       |   |   |       |   |   |   |   |
| Operating      income                    |   |     | 1,993,241  |                                 |   | 428,769    |   |   | -          |   |   | 2,422,010 |   |
| Depreciation      & amortization     |   |     | 845,341    |                                 |   | 53,244     |   |   | -          |   |   | 898,585 |   |
| Capital      expenditures                |   |     | 889,688    |                                 |   | 15,127     |   |   | -          |   |   | 904,815 |   |
| Identifiable      assets                 |   |     | 54,811,408 |                                 |   | 9,767,556  |   |   | -          |   |   | 64,578,964 |   |
| Goodwill                                 |   |     | 2,226,837  |                                 |   | 1,184,674  |   |   | -          |   |   | 3,411,511 |   |

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| 2008      Year to Date                   |   |  Printing |       | Office      Products&      Furniture |   |  Newspaper |   | Total   |             |
|------------------------------------------|--------|----------------|------------|------------------------------------------|--------|-----------------|--------|---------|------------------|
|                                     |   |           |       |                                     |   |            |   |    |             |   |   |   |   |
| Revenues                                 |   | $              | 58,131,943 |                                     | $      | 22,571,197      |   | $  | 9,583,449        |   | $ | 90,286,589 |   |
| Elimination      of intersegment revenue |   |           | (6,668,654 | )                                        |   | (4,052,943      | )      |    | -                |   |   | (10,721,597 | ) |
| Consolidated      revenues               |   | $              | 51,463,289 |                                     | $      | 18,518,254      |   | $  | 9,583,449        |   | $ | 79,564,992 |   |
|                                     |   |           |       |                                     |   |            |   |    |             |   |   |   |   |
| Operating      income                    |   |           | 3,188,977  |                                     |   | 971,776         |   |    |  2,117,358  |   |   | 6,278,111 |   |
| Depreciation      & amortization     |   |           | 1,759,503  |                                     |   | 111,292         |   |    |  808,743    |   |   | 2,679,538 |   |
| Capital      expenditures                |   |           | 927,075    |                                     |   | 53,030          |   |    |  55,012     |   |   | 1,035,117 |   |
| Identifiable      assets                 |   |           | 56,219,332 |                                     |   | 2,550,617       |   |    |  81,369,072 |   |   | 140,139,021 |   |
| Goodwill                                 |   |           | 2,226,837  |                                     |   | 1,230,485       |   |    |  35,397,042 |   |   | 38,854,364 |   |

| 2007      Year to Date                   |   |  Printing |       | Office      Products&      Furniture |   |  Newspaper |   | Total   |    |
|------------------------------------------|--------|----------------|------------|------------------------------------------|--------|-----------------|--------|---------|---------|
|                                     |   |           |       |                                     |   |            |   |    |    |   |   |   |   |
| Revenues                                 |   | $              | 57,524,913 |                                     | $      | 21,823,952      |   | $  | -       |   | $ | 79,348,865 |   |
| Elimination      of intersegment revenue |   |           | (6,367,251 | )                                        |   | (4,228,404      | )      |    | -       |   |   | (10,595,655 | ) |
| Consolidated      revenues               |   | $              | 51,157,662 |                                     | $      | 17,595,548      |   | $  | -       |   | $ | 68,753,210 |   |
|                                     |   |           |       |                                     |   |            |   |    |    |   |   |   |   |
| Operating      income                    |   |           | 3,732,890  |                                     |   | 909,816         |   |    | -       |   |   | 4,642,706 |   |
| Depreciation      & amortization     |   |           | 1,749,604  |                                     |   | 104,378         |   |    | -       |   |   | 1,853,982 |   |
| Capital      expenditures                |   |           | 2,021,603  |                                     |   | 44,430          |   |    | -       |   |   | 2,066,033 |   |
| Identifiable      assets                 |   |           | 54,811,408 |                                     |   | 9,767,556       |   |    |  - |   |   | 64,578,964 |   |
| Goodwill                                 |   |           | 2,226,837  |                                     |   | 1,184,674       |   |    | -       |   |   | 3,411,511 |   |

----

|                                         |   | Three      months | Six      months |
|----------------------------------------------|--------|-------------------|-----------------|
|                                         |   |              | 2008            |   |   | 2007 |   |   | 2008 |   |   | 2007 |   |
| Revenues:                                    |   |              |            |   |   |   |   |   |   |   |   |   |   |
| Total      segment revenues                  |   | $                 | 44,684,908      |   | $ | 39,119,401 |   | $ | 90,286,589 |   | $ | 79,348,865 |   |
| Elimination      of intersegment revenue     |   |              | (5,413,688      | ) |   | (5,305,524 | ) |   | (10,721,597 | ) |   | (10,595,655 | ) |
| Consolidated      revenue                    |   | $                 | 39,271,220      |   | $ | 33,813,877 |   | $ | 79,564,992 |   | $ | 68,753,210 |   |
|                                         |   |              |            |   |   |   |   |   |   |   |   |   |   |
| Operating      income:                       |   |              |            |   |   |   |   |   |   |   |   |   |   |
|  Total      segment operating income    |   | $                 | 3,074,273       |   | $ | 2,422,010 |   | $ | 6,278,111 |   | $ | 4,642,706 |   |
| Interest      income                         |   |              | 25,999          |   |   | 12,842 |   |   | 51,235 |   |   | 18,073 |   |
| Interest      expense                        |   |              | (1,365,777      | ) |   | (152,162 | ) |   | (3,114,959 | ) |   | (286,066 | ) |
| Other      income                            |   |              | 19,700          |   |   | 14,858 |   |   | 32,915 |   |   | 18,880 |   |
| Consolidated      income before income taxes |   | $                 | 1,754,195       |   | $ | 2,297,548 |   | $ | 3,247,302 |   | $ | 4,393,593 |   |
|                                         |   |              |            |   |   |   |   |   |   |   |   |   |   |
| Identifiable      assets:                    |   |              |            |   |   |   |   |   |   |   |   |   |   |
| Total      segment identifiable assets       |   | $                 | 140,139,021     |   | $ | 64,578,964 |   | $ | 140,139,021 |   | $ | 64,578,964 |   |
| Elimination      of intersegment assets      |   |              | –         |   |   | – |   |   | – |   |   | – |   |
| Total      consolidated assets               |   | $                 | 140,139,021     |   | $ | 64,578,964 |   | $ | 140,139,021 |   | $ | 64,578,964 |   |

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|                                                                     |   | Percentage      of Total Revenues     |
|--------------------------------------------------------------------------|--------|---------------------------------------|
|                                                                     |   | Three      Months EndedApril      30, | Six      Months EndedApril      30, |
|                                                                     |   |                                  | 2008 |   |   | 2007 |   |   | 2008 |   |   | 2007 |   |
| Revenues:                                                                |   |                                  |   |   |   |   |   |   |   |   |   |                         |   |
|               Printing           |   |                                  | 66.9 | % |   | 74.8 | % |   | 64.7 | % |   | 74.4 | % |
|    Office products and      office furniture              |   |                                  | 21.5 |   |   | 25.2 |   |   | 23.3 |   |   | 25.6 |   |
|               Newspaper          |   |                                  | 11.6 |   |   | – |   |   | 12.0 |   |   | – |   |
|     Total      revenues                              |   |                                  | 100.0 |   |   | 100.0 |   |   | 100.0 |   |   | 100.0 |   |
|                                                                     |   |                                  |   |   |   |   |   |   |   |   |   |   |   |
| Cost      of sales and newspaper operating costs:                   |   |                                  |   |   |   |   |   |   |   |   |   |   |   |
|          Printing           |   |                                  | 47.0 |   |   | 52.5 |   |   | 45.6 |   |   |                          52.3 |   |
|     Office products and      office furniture             |   |                                  | 14.5 |   |   |  17.4 |   |   | 16.3 |   |   | 17.8 |   |
|    Newspaper cost of sales and operating      costs       |   |                                  | 6.0 |   |   | – |   |   | 5.8 |   |   | – |   |
|         Total cost of sales and newspaper operating      costs |   |                                  | 67.5 |   |   | 69.9 |   |   | 67.7 |   |   | 70.1 |   |
|              Gross profit             |   |                                  | 32.5 |   |   | 30.1 |   |   | 32.3 |   |   | 29.9 |   |
| S  Selling,      general and administrative expenses           |   |                                  | 24.7 |   |   | 22.9 |   |   | 24.4 |   |   | 23.1 |   |
| Income      from operations                                              |   |                                  | 7.8 |   |   | 7.2 |   |   | 7.9 |   |   | 6.8 |   |
|           Interest income                            |   |                                  | 0.1 |   |   | 0.0 |   |   | 0.1 |   |   | 0.0 |   |
|           Interest expense                           |   |                                  | (3.5 | ) |   | (0.5 | ) |   | (3.9 | ) |   | (0.4 | ) |
|      Other      income                          |   |                                  | 0.1 |   |   | 0.1 |   |   | 0.0 |   |   | 0.0 |   |
| Income      before taxes                                                 |   |                                  | 4.5 |   |   | 6.8 |   |   | 4.1 |   |   | 6.4 |   |
|           Income tax expense                         |   |                                  | (0.9 | )  |   | (2.7 | )  |   | (0.7 | ) |   | (2.5 | ) |
| Net      income                                                          |   |                                  | 3.6 | % |   | 4.1 | % |   | 3.4 | % |   | 3.9 | % |

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| a)   | Fixing      the number of directors at seven (7) and election of the following      nominees as directors, with votes “for” and “withheld,” as well as broker      non-votes, as follows: |
|----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Director                   | Votes      “For” | Votes      “Withheld” | Broker      Non-votes |
|----------------------------|------------------------------|-----------------------------------|-----------------------|
| Louis      J. Akers        | 7,924,628                    | 1,271,395                         | -0-                   |
| Philip      E. Cline       | 7,901,639                    | 1,294,384                         | -0-                   |
| Harley      F. Mooney, Jr. | 9,136,149                    | 59,874                            | -0-                   |
| A.      Michael Perry      | 9,120,161                    | 75,862                            | -0-                   |
| Marshall      T. Reynolds  | 9,006,253                    | 189,770                           | -0-                   |
| Neal      W. Scaggs        | 9,008,150                    | 187,873                           | -0-                   |
| Glenn      W. Wilcox, Sr.  | 9,121,251                    | 74,772                            | -0-                   |

|       | a)      Exhibits:                                                                                                                                                                          |   |                                                                                                                                                                                                                                                                                                                                                         |
|------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|       |                                                                                                                                                                                       |   |                                                                                                                                                                                                                                                                                                                                                         |
|  (10) | Material      Contract                                                                                                                                                                     |   | $767,852      term promissory note with commercial security agreement and business      loan agreement between Champion Industries, Inc. and First Bank of      Charleston, Inc. dated as of April 22, 2008, filed as Exhibit 10.1, 10.2      and 10.3 to Form 8-K dated April 22, 2008, filed April 25, 2008, is      incorporated herein by reference |
|       |                                                                                                                                                                                       |   |                                                                                                                                                                                                                                                                                                                                                         |
| (31.1)     | Principal      Executive Officer Certification Pursuant to Section 302 of the      Sarbanes-Oxley act of 2002 - Marshall T. Reynolds                                                       |   | Exhibit      31.1 Page Exhibit 31.1-p1                                                                                                                                                                                                                                                                                                                       |
|       |                                                                                                                                                                                       |   |                                                                                                                                                                                                                                                                                                                                                         |
| (31.2)     | Principal      Financial Officer Certification Pursuant to Section 302 of the      Sarbanes-Oxley act of 2002 - Todd R. Fry                                                                |   | Exhibit      31.2 Page Exhibit 31.2-p1                                                                                                                                                                                                                                                                                                                       |
|       |                                                                                                                                                                                       |   |                                                                                                                                                                                                                                                                                                                                                         |
| (31.3)     | Principal      Operating Officer Certification Pursuant to Section 302 of the      Sarbanes-Oxley act of 2002 - Toney K. Adkins                                                            |   | Exhibit      31.3 Page Exhibit 31.3-p1                                                                                                                                                                                                                                                                                                                       |
|       |                                                                                                                                                                                       |   |                                                                                                                                                                                                                                                                                                                                                         |
| (32)       | Marshall      T. Reynolds, Todd R. Fry and Toney K. Adkins Certification Pursuant to 18      U.S.C. Section 1350 as Adopted Pursuant to Section 906 of the      Sarbanes-Oxley act of 2002 |   | Exhibit      32 Page Exhibit 32-p1                                                                                                                                                                                                                                                                                                                           |

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| Date:      June 6, 2008 | /s/      Marshall T. Reynolds                         |
|-------------------------|-------------------------------------------------------|
|                    | Marshall      T. Reynolds                             |
|                    | Chief      Executive Officer                          |
|                    |                                                  |
|                    |                                                  |
| Date:      June 6, 2008 | /s/      Toney K. Adkins                              |
|                    | Toney      K. Adkins                                  |
|                    | President      and Chief Operating Officer            |
|                    |                                                  |
|                    |                                                  |
| Date:      June 6, 2008 | /s/      Todd R. Fry                                  |
|                    | Todd      R. Fry                                      |
|                    | Senior      Vice President and Chief FinancialOfficer |

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