----

----

|   |   |   |
|--------|--------|--------|

|   |   |   |
|--------|--------|--------|

| COLORADO                                                      | 84-1250533                           |
|---------------------------------------------------------------|--------------------------------------|
| (State or other jurisdiction ofincorporation or organization) | (I.R.S. Employer Identification No.) |
|                                                          |                                 |
| ONE CANTERBURY GREEN201 BROAD STREET                          |                                 |
| STAMFORD, CT                                                  | 06901                                |
| (Address of principal executive offices)                      | (Zip Code)                           |
|                                                          |                                 |
| 203-595-3000                                                  |
| (Registrant’s telephone number, including area code)    |

|   |   |   |
|--------|--------|--------|

|                              Title of Each Class                                  |                    Name of Each Exchange on Which Registered                     |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| Common Stock, par value $0.01 per share                                                                                                                                                                                                                                                                                                                                             | New York Stock Exchange                                                                                                                                                                                                                                                        |

----

----

----

|     | PART I                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   |   |
|----------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------|
|     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |   |   |
|     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | PAGE   |   |
| Item 1.  | Business                                                                                                                                                 | 1      |   |
| Item 1A. | Risk Factors                                                                                                                                             | 7      |   |
| Item 1B. | Unresolved Staff Comments                                                                                                                                | 11     |   |
| Item 2.  | Properties                                                                                                                                               | 11     |   |
| Item 3.  | Legal Proceedings                                                                                                                                        | 11     |   |
|     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |   |   |
|     | PART II                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   |   |
|     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |   |   |
| Item 5.  | Market for Registrant’s Common Equity, Related Shareholder                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   |   |
|     | Matters and Issuer Purchases of Equity Securities                                                                                                                            | 12     |   |
| Item 6.  | Selected Financial Data                                                                                                                                  | 14     |   |
| Item 7.  | Management’s Discussion and Analysis of Financial Condition                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |   |   |
|     | and Results of Operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | 15     |   |
| Item 7A. | Quantitative and Qualitative Disclosures About Market Risk                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | 30     |   |
| Item 8.  | Financial Statements and Supplementary Data                                                                                                              | 31     |   |
| Item 9.  | Changes in and Disagreements with Accountants on Accounting                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |   |   |
|     | and Financial Disclosure                                                                                                                                                     | 82     |   |
| Item 9A. | Controls and Procedures                                                                                                                                  | 82     |   |
| Item 9B. | Other Information                                                                                                                                        | 85     |   |
|     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |   |   |
|     | PART III                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   |   |
|     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |   |   |
| Item 10. | Directors, Executive Officers and Corporate Governance                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | 85     |   |
| Item 11. | Executive Compensation                                                                                                                                   | 85     |   |
| Item 12. | Security Ownership of Certain Beneficial Owners and                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   |   |
|     | Management and Related Shareholder Matters                                                                                                                                   | 85     |   |
| Item 13. | Certain Relationships and Related Transactions, and Director Independence                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | 85     |   |
| Item 14. | Principal Accountant Fees and Services                                                                                                                   | 85     |   |
|     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |   |   |
|     | PART IV                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   |   |
|     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |   |   |
| Item 15. | Exhibits and Financial Statement Schedules                                                                                                               | 85     |   |

----

PART I

Item 1.  Business

|   | · | Direct mail and customized envelopes developed for advertising, billing and remittance; |
|--------|--------|-----------------------------------------------------------------------------------------|

|   | · | Custom labels and specialty forms; and |
|--------|--------|----------------------------------------|

|   | · | Stock envelopes, labels and business forms. |
|--------|--------|---------------------------------------------|

----

|   | · | High-end color printing of a wide range of premium products for major national and regional customers; |
|--------|--------|--------------------------------------------------------------------------------------------------------|

|   | · | General commercial printing products for regional and local customers: |
|--------|--------|------------------------------------------------------------------------|

|   | · | STM journals, special interest and trade magazines for not-for-profit organizations, educational institutions and specialty publishers;  and |
|--------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Specialty packaging and high quality promotional materials for multinational consumer products companies. |
|--------|--------|-----------------------------------------------------------------------------------------------------------|

----

----

----

| Name                  |   | Age    |                                                                     | Position |   | YearElected toPresentPosition |
|-----------------------|--------|--------|--------------------------------------------------------------------------|----------|--------|-------------------------------|
| Robert G. Burton, Sr. | 70     |   | Chairman and Chief Executive Officer                                     | 2005     |
| Mark S. Hiltwein      | 47     |   | Chief Financial Officer                                                  | 2007     |
| Dean Cherry           | 50     |   | President, Envelope Operations                                           | 2008     |
| Harry Vinson          | 50     |   | President, Publisher Services, Commercial Print and Packaging Operations | 2007     |
| Ian Scheinmann        | 42     |   | Senior Vice President, Legal Affairs                                     | 2010     |

----

----

Item 1A.   Risk Factors

|   | · | requiring a substantial portion of our cash flow from operations to be dedicated to the payment of principal and interest on indebtedness instead of funding working capital, capital expenditures, acquisitions and other business purposes; |
|--------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | making it more difficult for us to satisfy all of our debt obligations, thereby increasing the risk of triggering a cross-default provision; |
|--------|--------|----------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | increasing our vulnerability to economic downturns or other adverse developments relative to less leveraged competitors; |
|--------|--------|--------------------------------------------------------------------------------------------------------------------------|

|   | · | limiting our ability to obtain additional financing for working capital, capital expenditures, acquisitions or other corporate purposes in the future; and |
|--------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | increasing our cost of borrowing to satisfy business needs. |
|--------|--------|-------------------------------------------------------------|

----

|   | · | incur or guarantee additional indebtedness; |
|--------|--------|---------------------------------------------|

|   | · | make restricted payments, including dividends and prepaying indebtedness; |
|--------|--------|---------------------------------------------------------------------------|

|   | · | create or permit certain liens; |
|--------|--------|---------------------------------|

|   | · | enter into business combinations and asset sale transactions; |
|--------|--------|---------------------------------------------------------------|

|   | · | make investments, including capital expenditures; |
|--------|--------|---------------------------------------------------|

|   | · | amend organizational documents and change accounting methods; |
|--------|--------|---------------------------------------------------------------|

|   | · | enter into transactions with affiliates; and |
|--------|--------|----------------------------------------------|

|   | · | enter into new businesses. |
|--------|--------|----------------------------|

----

----

----

Item 1B.   Unresolved Staff Comments

Item 2.

Item 3.

----

PART II

Item 5. 

| 2010                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | High   |   | Low    |   |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------|--------|--------|
| First Quarter                                                                                             | $      | 9.41   |   | $      | 6.49 |   |
| Second Quarter                                                                                            |   | 9.90   |   |   | 5.35 |   |
| Third Quarter                                                                                             |   | 6.92   |   |   | 4.91 |   |
| Fourth Quarter                                                                                            |   | 6.32   |   |   | 4.85 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   |   |   |   |   |   |
| 2009                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | High   |   | Low    |   |
| First Quarter                                                                                             | $      | 5.30   |   | $      | 1.68 |   |
| Second Quarter                                                                                            |   | 5.25   |   |   | 2.80 |   |
| Third Quarter                                                                                             |   | 7.06   |   |   | 3.70 |   |
| Fourth Quarter                                                                                            |   | 9.32   |   |   | 6.90 |   |

----

|                                   |   | Years Ended |
|----------------------------------------|--------|-------------|
|                                   |   | 2005        | 2006 | 2007 | 2008 | 2009 | 2010 |
| Cenveo                                 |   | 100.00      | 161.09 | 132.75 | 33.81 | 66.49 | 40.58 |
| S&P 500 Index                      | 100.00 | 115.61      | 121.95 | 77.38 | 97.44 | 111.89 |
| S&P 1500 Commercial Printing Index | 100.00 | 110.59      | 119.71 | 49.32 | 75.32 | 76.12 |

----

Item 6.  Selected Financial Data

|                                                                       | Years Ended |      |
|----------------------------------------------------------------------------|-------------|-----------|
| Statement of Operations:                                                   | 2010        |      | 2009 |   | 2008 |   | 2007 |   | 2006 |   |
| Net sales                                                                  | $           | 1,814,716 |   | $ | 1,714,631 |   | $ | 2,098,694 |   | $ | 2,046,716 |   | $ | 1,511,224 |   |
| Restructuring, impairment and other charges                                |        | 226,150   |  (1) |   | 68,034 |   |   | 399,066 |  (3) |   | 40,086 |   |   | 41,096 |   |
| Operating income (loss)                                                    |        | (103,760  | ) (1) |   | 32,188 |   |   | (223,546 | ) (3) |   | 137,550 |   |   | 63,395 |   |
| (Gain) loss on early extinguishment of debt                           |        | 9,592     |   |   | (16,917 | ) |   | (14,642 | )  |   | 9,256 |   |   | 32,744 |   |
| Income (loss) from continuing operations                                   |        | (189,055  | )(2) |   | (39,837 | ) |   | (296,976 | )(4) |   | 23,985 |   |   | (11,148 | ) |
| Income (loss) from discontinued operations, net of taxes                   |        | 2,678     |   |   | 8,898 |   |   | (1,051 | ) |   | 16,796 | (5) |   | 126,519 | (6) |
| Net income (loss)                                                          |        | (186,377  | )(2) |   | (30,939 | ) |   | (298,027 | )(4) |   | 40,781 | (5) |   | 115,371 | (6) |
| Income (loss) per share from continuing operations:                   |        |      |   |   |   |   |   |   |   |   |   |   |   |   |   |
|     Basic                                              |        | (3.03     | ) |   | (0.70 | ) |   | (5.51 | ) |   | 0.45 |   |   | (0.21 | ) |
|     Diluted                                            |        | (3.03     | ) |   | (0.70 | ) |   | (5.51 | ) |   | 0.44 |   |   | (0.21 | ) |
| Income (loss) per share from discontinued operations:                 |        |      |   |   |   |   |   |   |   |   |   |   |   |   |   |
|     Basic                                              |        | 0.04      |   |   | 0.16 |   |   | (0.02 | ) |   | 0.31 |   |   | 2.38 |   |
|     Diluted                                            |        | 0.04      |   |   | 0.16 |   |   | (0.02 | ) |   | 0.31 |   |   | 2.38 |   |
| Net income (loss) per share:                                               |        |      |   |   |   |   |   |   |   |   |   |   |   |   |   |
|     Basic                                              |        | (2.99     | ) |   | (0.54 | ) |   | (5.53 | ) |   | 0.76 |   |   | 2.17 |   |
|     Diluted                                            |        | (2.99     | ) |   | (0.54 | ) |   | (5.53 | ) |   | 0.75 |   |   | 2.17 |   |
|                                                                       |        |      |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                       |        |      |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Balance Sheet data:                                                        |        |      |   |   |   |   |   |   |   |   |   |   |   |   |   |
|     Total assets                                       | $           | 1,397,730 |   | $ | 1,525,773 |   | $ | 1,552,114 |   |  $ | 2,002,722 |   | $ | 999,892 |   |
|     Total long-term debt, including current maturities |        | 1,294,003 |   |   | 1,233,917 |   |   | 1,306,355 |   |   | 1,444,637 |   |   | 675,295 |   |

|   | ______________________ |
|--------|------------------------|

|   | (1)    Includes $181.4 million pre-tax goodwill and other long-lived asset impairment charges. |
|--------|--------------------------------------------------------------------------------------------------------------------|

|   | (2)    Includes $157.3 million goodwill and other long-lived asset impairment charges, net of tax benefit of $24.1 million. |
|--------|-------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (3)    Includes $372.8 million pre-tax goodwill impairment charges. |
|--------|-----------------------------------------------------------------------------------------|

|   | (4)    Includes $330.7 million goodwill impairment charges, net of tax benefit of $42.1 million. |
|--------|----------------------------------------------------------------------------------------------------------------------|

|   | (5)    Includes a $17.0 million gain on a disposal of discontinued operations, net of taxes of $8.4 million. |
|--------|----------------------------------------------------------------------------------------------------------------------------------|

|   | (6)    Includes a $113.5 million gain on a disposal of discontinued operations, net of taxes of $22.5 million. |
|--------|------------------------------------------------------------------------------------------------------------------------------------|

----

Item 7

----

----

----

|                                                         |   | Years Ended                             |      |
|--------------------------------------------------------------|--------|-----------------------------------------|-----------|
|                                                         |   | 2010                                    |      |   | 2009 |   |   | 2008 |   |
|                                                         |   | (in thousands, except per share amount) |      |
| Net sales                                                    |   | $                                       | 1,814,716 |   |   | $ | 1,714,631 |   |   | $ | 2,098,694 |   |
| Operating income (loss):                                     |   |                                    |      |   |   |   |   |   |   |   |   |   |
| Envelopes, forms and labels                                  |   | $                                       | 93,135    |   |   | $ | 77,200 |   |   | $ | (40,979 | ) |
| Commercial printing                                          |   |                                    | (159,176  | ) |   |   | (6,397 | ) |   |   | (136,828 | ) |
| Corporate                                                    |   |                                    | (37,719   | ) |   |   | (38,615 | ) |   |   | (45,739 | ) |
| Total operating income (loss)                                |   |                                    | (103,760  | )  |   |   | 32,188 |   |   |   | (223,546 | ) |
| Interest expense, net                                        |   |                                    | 121,037   |   |   |   | 106,063 |   |   |   | 107,321 |   |
| (Gain) loss on early extinguishment of debt                  |   |                                    | 9,592     |   |   |   | (16,917 | ) |   |   | (14,642 | ) |
| Other (income) expense, net                                  |   |                                    | 2,327     |   |   |   | (1,368 | ) |   |   | (637 | ) |
| Income (loss) from continuing operations before income taxes |   |                                    | (236,716  | ) |   |   | (55,590 | ) |   |   | (315,588 | ) |
| Income tax expense (benefit)                                 |   |                                    | (47,661   | )  |   |   | (15,753 | )  |   |   | (18,612 | ) |
| Income (loss) from continuing operations                     |   |                                    | (189,055  | ) |   |   | (39,837 | ) |   |   | (296,976 | ) |
| Income (loss) from discontinued operations, net of taxes     |   |                                    | 2,678     |   |   |   | 8,898 |   |   |   | (1,051 | ) |
| Net loss                                                     |   | $                                       | (186,377  | ) |   | $ | (30,939 | ) |   | $ | (298,027 | ) |
|                                                         |   |                                    |      |   |   |   |   |   |   |   |   |   |
| Income (loss) per share—basic and diluted:             |   |                                    |      |   |   |   |   |   |   |   |   |   |
| Continuing operations                                        |   | $                                       | (3.03     | ) |   | $ | (0.70 | ) |   | $ | (5.51 | ) |
| Discontinued operations                                      |   |                                    | 0.04      |   |   |   | 0.16 |   |   |   | (0.02 | ) |
| Net loss                                                     |   | $                                       | (2.99     | ) |   | $ | (0.54 | ) |   | $ | (5.53 | ) |

----

|                                                |           |   | Years Ended |   |   |   |
|-----------------------------------------------------|----------------|--------|-------------|--------|--------|--------|
|                                                | 2010           |   | 2009        |   | 2008   |   |
|                                                | (in thousands) |   |
| Income tax expense (benefit) for U.S. operations    |           | $      | (49,038     | )      |   | $      | (18,342 | ) |   | $ | (17,969 | ) |
| Income tax expense (benefit) for foreign operations |           |   | 1,377       |   |   |   | 2,589 |   |   |   | (643 | )  |
| Income tax expense (benefit)                        |           | $      | (47,661     | )      |   | $      | (15,753 | ) |   | $ | (18,612 | ) |
| Effective income tax rate                           |           |   | (20.1       | )%     |   |   | (28.3 | )% |   |   | (5.9 | )% |

----

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | Years Ended    |   |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|----------------|--------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | 2010           |   | 2009 |   | 2008 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | (in thousands) |   |
| Segment net sales                                                                                                   |           | $      | 966,859 |   |   | $ | 819,399 |   |   | $ | 916,145 |   |
| Segment operating income (loss)                                                                                     |           | $      | 93,135 |   |   | $ | 77,200 |   |   | $ | (40,979 | ) |
| Operating income (loss) margin                                                                                      |           |   | 9.6 | % |   |   | 9.4 | % |   |   | (4.5 | )% |
| Items included in segment operating income:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |           |   |   |   |   |   |   |   |   |   |   |   |
|        Restructuring and impairment charges                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |           | $      | 12,063 |   |   | $ | 17,405 |   |   | $ | 174,178 |   |

----

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | Years Ended    |   |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|----------------|--------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | 2010           |   | 2009 |   | 2008 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | (in thousands) |   |
| Segment net sales                                                                                          |           | $      | 847,857 |   |   | $ | 895,232 |   |   | $ | 1,182,549 |   |
| Segment operating loss                                                                                     |           | $      | (159,176 | ) |   | $ | (6,397 | ) |   | $ | (136,828 | ) |
| Operating loss margin                                                                                      |           |   | (18.8 | )% |   |   | (0.7 | )% |   |   | (11.6 | )% |
| Items included in segment operating income:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |           |   |   |   |   |   |   |   |   |   |   |   |
|        Restructuring and impairment charges                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |           | $      | 211,042 |   |   | $ | 48,744 |   |   | $ | 217,568 |   |

----

----

----

|   Payments Due                                                                                                                                                                                                                                  |   |  Long-TermDebt(1) |      | OperatingLeases |    | Other (2) |   | Total   |   |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|------------------------|-----------|-----------------|---------|-----------|--------|---------|--------|
| 2011                                              |   | $                      | 115,193   |            | $  | 23,306    |   | $  | 37,009 |   | $  | 175,508 |   |
| 2012                                              |   |                   | 111,976   |            |    | 17,820    |   |    | 16,313 |   |   | 146,109 |   |
| 2013                                              |   |                   | 405,785   |            |    | 14,456    |   |    | 4,009  |   |   | 424,250 |   |
| 2014                                              |   |                   | 117,222   |            |    | 10,178    |   |    | 2,826  |   |   | 130,226 |   |
| 2015                                              |   |                   | 438,596   |            |    | 8,162     |   |    | 2,289  |   |   | 449,047 |   |
| Thereafter                                        |   |                   | 656,602   |            |    | 15,588    |   |    | 5,180  |   |   | 677,370 |   |
| Total                                             |   | $                      | 1,845,374 |            | $       | 89,510    |   | $       | 67,626 |   | $ | 2,002,510 |   |

| (1) | Includes $545.5 million of estimated interest expense over the term of our long-term debt, with variable rate debt having an average interest rate of approximately 6.2%. |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (2) | Includes pension and other postretirement benefit payments of $21.3 million, anticipated worker’s compensation paid losses of $12.2 million, restructuring related liabilities of $28.7 million, including interest expense on lease terminations and multi-employer pension withdrawal liabilities, derivative liabilities of $2.2 million, and purchase commitments for equipment of $2.9 million. Excluded from the table are $3.7 million income tax contingencies as we are unable to reasonably estimate the ultimate amount payable or timing of settlement. |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

----

| Rating Agency               |   | CorporateRating |   |  2010CreditFacilities |   | 87⁄8%Notes |   | 101⁄2%Notes |   | 77⁄8%Notes |   | 83⁄8%Notes |   | Outlook  |   |   | Last Update   |   |
|-----------------------------|--------|-----------------|--------|----------------------------|--------|----------------|--------|----------------|--------|----------------|--------|----------------|--------|----------|--------|--------|---------------|--------|
| Moody’s               |   | B3              |   | Ba3                        |   | B3             |   | Caa1           |   | Caa2           |   | Caa2           |   | Negative |   |   | December 2010 |   |
| Standard & Poor’s |   | B               |   | BB-                        |   | B-             |   | CCC+           |   | CCC+           |   | CCC+           |   | Stable   |   |   | December 2010 |   |

----

----

----

----

Item 7A

----

Item 8.  

----

|                                                                                                                                                                                                                                                           |   | As of the Year Ended |      |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|----------------------|-----------|
|                                                                                                                                                                                                                                                           |   | 2010                 |      |   | 2009 |   |
| Assets                                                                                                                                                                                                                                                         |   |                 |      |   |   |   |
| Current assets:                                                                                                                                                                                                                                                |   |                 |      |   |   |   |
|     Cash and cash equivalents                                                                                                                                                                                                              |   | $                    | 49,756    |   |   | $ | 10,796 |   |
|     Accounts receivable, net                                                                                                                                                                                                               |   |                 | 263,364   |   |   |   | 268,563 |   |
|     Inventories                                                                                                                                                                                                                            |   |                 | 149,151   |   |   |   | 145,228 |   |
|     Prepaid and other current assets                                                                                                                                                                                                       |   |                 | 66,135    |   |   |   | 64,843 |   |
|         Total current assets                                                                                                                                                                                           |   |                 | 528,406   |   |   |   | 489,430 |   |
|                                                                                                                                                                                                                                                           |   |                 |      |   |   |   |   |   |
| Property, plant and equipment, net                                                                                                                                                                                                                             |   |                 | 347,921   |   |   |   | 387,879 |   |
| Goodwill                                                                                                                                                                                                                                                       |   |                 | 209,161   |   |   |   | 319,756 |   |
| Other intangible assets, net                                                                                                                                                                                                                                   |   |                 | 246,424   |   |   |   | 295,418 |   |
| Other assets, net                                                                                                                                                                                                                                              |   |                 | 65,818    |   |   |   | 33,290 |   |
|     Total assets                                                                                                                                                                                                                           |   | $                    | 1,397,730 |   |   | $ | 1,525,773 |   |
| Liabilities and Shareholders’ Deficit                                                                                                                                                                                                                    |   |                 |      |   |   |   |   |   |
|                                                                                                                                                                                                                                                           |   |                 |      |   |   |   |   |   |
| Current liabilities:                                                                                                                                                                                                                                           |   |                 |      |   |   |   |   |   |
|     Current maturities of long-term debt                                                                                                                                                                                                   |   | $                    | 10,098    |   |   | $ | 15,057 |   |
|     Accounts payable                                                                                                                                                                                                                       |   |                 | 166,468   |   |   |   | 183,940 |   |
|     Accrued compensation and related liabilities                                                                                                                                                                                           |   |                 | 30,672    |   |   |   | 29,841 |   |
|     Other current liabilities                                                                                                                                                                                                              |   |                 | 98,471    |   |   |   | 98,079 |   |
|         Total current liabilities                                                                                                                                                                                      |   |                 | 305,709   |   |   |   | 326,917 |   |
|                                                                                                                                                                                                                                                           |   |                 |      |   |   |   |   |   |
| Long-term debt                                                                                                                                                                                                                                                 |   |                 | 1,283,905 |   |   |   | 1,218,860 |   |
| Other liabilities                                                                                                                                                                                                                                              |   |                 | 149,447   |   |   |   | 156,506 |   |
| Commitments and contingencies                                                                                                                                                                                                                                  |   |                 |      |   |   |   |   |   |
| Shareholders’ deficit:                                                                                                                                                                                                                                   |   |                 |      |   |   |   |   |   |
|     Preferred stock, $0.01 par value; 25 shares authorized,      no shares issued                                                                                                                            |   |                 | —   |   |   |   | — |   |
|     Common stock, $0.01 par value; 100,000 shares authorized,      62,727 and 62,033 shares issued and outstanding as of      the years ended 2010 and 2009, respectively |   |                 | 627       |   |   |   | 620 |   |
|     Paid-in capital                                                                                                                                                                                                                        |   |                 | 342,607   |   |   |   | 331,051 |   |
|     Retained deficit                                                                                                                                                                                                                       |   |                 | (664,282  | ) |   |   | (477,905 | ) |
|     Accumulated other comprehensive loss                                                                                                                                                                                                   |   |                 | (20,283   | )  |   |   | (30,276 | )  |
|         Total shareholders’ deficit                                                                                                                                                                              |   |                 | (341,331  | )  |   |   | (176,510 | ) |
|     Total liabilities and shareholders’ deficit                                                                                                                                                                                      |   | $                    | 1,397,730 |   |   | $ | 1,525,773 |   |

----

|                                                                                            |   | For the Years Ended |      |
|-------------------------------------------------------------------------------------------------|--------|---------------------|-----------|
|                                                                                            |   |                |      |   |   |   |   |
|                                                                                            |   | 2010                |      | 2009 |   | 2008 |   |
| Net sales                                                                                       |   | $                   | 1,814,716 |   | $ | 1,714,631 |   | $ | 2,098,694 |   |
| Cost of sales                                                                                   |   |                | 1,468,615 |   |   | 1,394,778 |   |   | 1,671,185 |   |
| Selling, general and administrative expenses                                                    |   |                | 212,170   |   |   | 209,578 |   |   | 242,981 |   |
| Amortization of intangible assets                                                               |   |                | 11,541    |   |   | 10,053 |   |   | 9,008 |   |
| Restructuring, impairment and other charges                                                     |   |                | 226,150   |   |   | 68,034 |   |   | 399,066 |   |
|   Operating income (loss)                                                             |   |                | (103,760  | ) |   | 32,188 |   |   | (223,546 | )  |
| Interest expense, net                                                                           |   |                | 121,037   |   |   | 106,063 |   |   | 107,321 |   |
| (Gain) loss on early extinguishment of debt                                                     |   |                | 9,592     |   |   | (16,917 | )  |   | (14,642 | )  |
| Other (income) expense, net                                                                     |   |                | 2,327     |   |   | (1,368 | ) |   | (637 | ) |
|   Income (loss) from continuing operations before income    taxes |   |                | (236,716  | ) |   | (55,590 | ) |   | (315,588 | )  |
| Income tax (benefit) expense                                                                    |   |                | (47,661   | ) |   | (15,753 | ) |   | (18,612 | )  |
|   Income (loss) from continuing operations                                            |   |                | (189,055  | ) |   | (39,837 | ) |   | (296,976 | )  |
| Income (loss) from discontinued operations, net of taxes                                        |   |                | 2,678     |   |   | 8,898 |   |   | (1,051 | )  |
|   Net income (loss)                                                                   |   | $                   | (186,377  | ) | $ | (30,939 | ) | $ | (298,027 | )  |
| Income (loss) per share—basic and diluted:    Continuing operations   |   | $                   | (3.03     | ) | $ | (0.70 | ) | $ | (5.51 | ) |
|     Discontinued operations                                                 |   |                | 0.04      |   |   | 0.16 |   |   | (0.02 | )  |
|     Net income (loss)                                                       |   | $                   | (2.99     | ) | $ | (0.54 | )  | $ | (5.53 | )  |
| Weighted average shares:                                                                        |   |                |      |   |   |   |   |   |   |   |
|     Basic and Diluted                                                       |   |                | 62,382    |   |   | 56,787 |   |   | 53,904 |   |
|                                                                                            |   |                |      |   |   |   |   |   |   |   |

----

|                                                                                                               |   | For the Years Ended |        |
|--------------------------------------------------------------------------------------------------------------------|--------|---------------------|-------------|
|                                                                                                               |   |                |        |   |   |   |   |   |   |
|                                                                                                               |   | 2010                |        |   | 2009 |   |   | 2008 |   |
| Cash flows from operating activities:                                                                              |   |                |        |   |   |   |   |   |   |
|   Net loss                                                                                               |   | $                   | (186,377    | ) |   | $ | (30,939 | ) |   | $ | (298,027 | ) |
|   Adjustments to reconcile net loss to net cash    provided by operating activities: |   |                |        |   |   |   |   |   |   |   |   |   |
|       Loss (income) from discontinued operations, net of taxes                       |   |                | (2,678      | ) |   |   | (8,898 | ) |   |   | 1,051 |   |
|       Depreciation                                                                   |   |                | 55,255      |   |   |   | 56,350 |   |   |   | 65,001 |   |
|       Amortization of other intangible assets                                        |   |                | 11,541      |   |   |   | 10,053 |   |   |   | 9,008 |   |
|       Non-cash interest expense, net                                                 |   |                | 4,716       |   |   |   | 2,304 |   |   |   | 1,773 |   |
|       Deferred income taxes                                                          |   |                | (49,646     | ) |   |   | (17,573 | ) |   |   | (24,287 | ) |
|       Non-cash taxes                                                                 |   |                | (4,001      | ) |   |   | — |   |   |   | — |   |
|       Non-cash restructuring, impairment and other charges, net                      |   |                | 201,781     |   |   |   | 32,204 |   |   |   | 378,688 |   |
|       (Gain) loss on early extinguishment of debt                                    |   |                | 9,592       |   |   |   | (16,917 | ) |   |   | (14,642 | )  |
|       Provisions for bad debts                                                       |   |                | 5,319       |   |   |   | 5,428 |   |   |   | 4,660 |   |
|       Provisions for inventory obsolescence                                          |   |                | 3,958       |   |   |   | 3,895 |   |   |   | 902 |   |
|       Stock-based compensation provision                                             |   |                | 10,853      |   |   |   | 14,274 |   |   |   | 18,140 |   |
|       (Gain) loss on sale of assets                                                  |   |                | 81          |   |   |   | (5,006 | ) |   |   | (4,364 | )  |
|       Other non-cash charges, net                                                    |   |                | —     |   |   |   | — |   |   |   | 3,350 |   |
| Changes in operating assets and liabilities, excluding the effects of acquired businesses:                    |   |                |        |   |   |   |   |   |   |   |   |   |
|       Accounts receivable                                                            |   |                | 5,772       |   |   |   | 21,620 |   |   |   | 70,376 |   |
|       Inventories                                                                    |   |                | (5,801      | ) |   |   | 33,075 |   |   |   | 5,198 |   |
|       Accounts payable and accrued compensation and related liabilities              |   |                | (19,590     | ) |   |   | (19,672 | ) |   |   | (2,928 | ) |
|       Other working capital changes                                                  |   |                | 15,498      |   |   |   | (3,110 | ) |   |   | 1,454 |   |
|       Other, net                                                                     |   |                |  2,313 |   |   |   | (5,036 | ) |   |   | (5,505 | ) |
|         Net cash provided by operating activities                          |   |                | 58,586      |   |   |   | 72,052 |   |   |   | 209,848 |   |
| Cash flows from investing activities:                                                                              |   |                |        |   |   |   |   |   |   |   |   |   |
|       Cost of business acquisitions, net of cash acquired                            |   |                | (40,545     | ) |   |   | (3,189 | ) |   |   | (47,412 | ) |
|       Capital expenditures                                                           |   |                | (19,031     | ) |   |   | (25,227 | ) |   |   | (49,243 | ) |
|       Proceeds from sale of property, plant and equipment                            |   |                | 3,539       |   |   |   | 14,619 |   |   |   | 18,258 |   |
|       Acquisition payments                                                           |   |                | —     |   |   |   | — |   |   |   | (3,653 | ) |
|       Proceeds from sale of investment                                               |   |                | —     |   |   |   | 4,032 |   |   |   | — |   |
|         Net cash used in investing activities                         |   |                | (56,037     | ) |   |   | (9,765 | ) |   |   | (82,050 | ) |
| Cash flows from financing activities:                                                                              |   |                |        |   |   |   |   |   |   |   |   |   |
|       Proceeds from issuance of 87⁄8% senior second lien notes                   |   |                | 397,204     |   |   |   | — |   |   |   | — |   |
|       Proceeds from issuance of Term Loan B                                          |   |                | 376,200     |   |   |   | — |   |   |   | — |   |
|       Proceeds from exercise of stock options                                        |   |                | 1,030       |   |   |   | 539 |   |   |   | 1,876 |   |
|       Repayments of Term Loans                                                       |   |                | (683,306    | ) |   |   | (24,594 | ) |   |   | (7,200 | ) |
|       Payment of refinancing fees and expenses and debt issuance costs               |   |                | (23,154     | ) |   |   | (7,296 | ) |   |   | (5,297 | ) |
|       (Repayment) borrowings under revolving credit facility, net                    |   |                | (22,500     | ) |   |   | 14,500 |   |   |   | (83,200 | ) |
|       Repayments of other long-term debt                                             |   |                | (7,635      | ) |   |   | (12,178 | ) |   |   | (18,933 | ) |
|       Purchase and retirement of common stock upon vesting of RSUs                   |   |                | (1,597      | ) |   |   | (2,050 | ) |   |   | (1,054 | ) |
|       Repayment of 83⁄8% senior subordinated notes                               |   |                | —     |   |   |   | (23,024 | ) |   |   | (19,567 | ) |
|       Repayment of 77⁄8% senior subordinated notes                               |   |                | —     |   |   |   | (4,295 | ) |   |   | (10,561 | ) |
|       Repayment of 101⁄2% senior notes                                            |   |                | —     |   |   |   | (3,250 | ) |   |   | — |   |
|       Payment of repurchase fees, redemption premiums and expenses                   |   |                | —     |   |   |   | (94 | ) |   |   | (130 | ) |
|       Repayment of senior unsecured loan                                                  |   |                | —     |   |   |   | — |   |   |   | (175,000 | ) |
|       Tax (liability) asset from stock-based compensation                            |   |                | —     |   |   |   | — |   |   |   | (1,377 | ) |
|       Proceeds from issuance of 101⁄2% senior notes                               |   |                | —     |   |   |   | — |   |   |   | 175,000 |   |
|       Proceeds from issuance of other long-term debt                                 |   |                | —     |   |   |   | — |   |   |   | 12,927 |   |
|         Net cash provided by (used in) financing activities                |   |                | 36,242      |   |   |   | (61,742 | ) |   |   | (132,516 | ) |
| Effect of exchange rate changes on cash and cash equivalents                                                  |   |                | 169         |   |   |   | (193 | ) |   |   | (720 | )  |
|         Net increase (decrease) in cash and cash equivalents               |   |                | 38,960      |   |   |   | 352 |   |   |   | (5,438 | )  |
| Cash and cash equivalents at beginning of year                                                                     |   |                | 10,796      |   |   |   | 10,444 |   |   |   | 15,882 |   |
| Cash and cash equivalents at end of year                                                                           |   | $                   | 49,756      |   |   | $ | 10,796 |   |   | $ | 10,444 |   |

----

|                                                                                                                                                                                                                                                                                                                                                                                                                                   | CommonStock |   |   | Paid-InCapital |   |   | RetainedDeficit |   |   | AccumulatedOtherComprehensive(Loss) Income |   |   | TotalShareholders’Equity(Deficit) |     |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-------------|--------|--------|----------------|--------|--------|-----------------|--------|--------|--------------------------------------------|--------|--------|-----------------------------------------|----------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                   | Shares      |   |   | Amount         |   |   |            |   |   |                                       |   |   |                                    |     |   |   |   |
| Balance as of the year ended 2007                                                                                                                                                                                                                                                                                                                                                                                                      |        | 53,700 |   |           | $      | 537    |            |   | $      | 254,241                                    |   |   | $                                       | (148,939 | ) |   | $ | (6,513 | ) |   | $ | 99,326 |   |
| Comprehensive income (loss):                                                                                                                                                                                                                                                                                                                                                                                                           |        |   |   |           |   |   |            |   |   |                                       |   |   |                                    |     |   |   |   |   |   |   |   |   |   |
| Net loss                                                                      |        |   |   |           |   |   |            |   |   |                                       |   |   |                                    | (298,027 | ) |   |   |   |   |   |   | (298,027 | ) |
| Other comprehensive income (loss):                                                                                                                                                                                                                                                                                                                                                                                                     |        |   |   |           |   |   |            |   |   |                                       |   |   |                                    |     |   |   |   |   |   |   |   |   |   |
|   Pension liability adjustment, net of tax benefit of $14,586                                                                                                                                                                                                                                                                                                                                                                |        |   |   |           |   |   |            |   |   |                                       |   |   |                                    |     |   |   |   | (22,614 | ) |   |   | (22,614 | ) |
|   Unrealized loss on cash flow hedges, net of tax benefit of $5,115                                                                                                                                                                                                                                                                                                                                                          |        |   |   |           |   |   |            |   |   |                                       |   |   |                                    |     |   |   |   | (7,731 | ) |   |   | (7,731 | ) |
|   Currency translation adjustment                                                                                                                                                                                                                                                                                                                                                                                            |        |   |   |           |   |   |            |   |   |                                       |   |   |                                    |     |   |   |   | (8,508 | ) |   |   | (8,508 | ) |
|   Reclassifications of currency translation adjustment to earnings resulting from goodwill impairment charges                                                                                                                                                                                                                                                                                                                |        |   |   |           |   |   |            |   |   |                                       |   |   |                                    |     |   |   |   | (986 | ) |   |   | (986 | )  |
|     Other comprehensive loss                                                                                                                                                                                                                                                                                                                                                                                       |        |   |   |           |   |   |            |   |   |                                       |   |   |                                    |     |   |   |   |   |   |   |   | (39,839 | ) |
|       Total comprehensive loss                                                                                                                                                                                                                                                                                                                                                                           |        |   |   |           |   |   |            |   |   |                                       |   |   |                                    |     |   |   |   |   |   |   |   | (337,866 | )  |
| Exercise of stock options                                                                                                                                                                                                                                                                                                                                                                                                              |        | 545    |   |           |   | 5      |            |   |   | 1,871                                      |   |   |                                    |     |   |   |   |   |   |   |   | 1,876 |   |
| Purchase and retirement of common stock upon vesting of RSUs                                                                                                                                                                                                                                                                                                                                                                           |        |   |   |           |   |   |            |   |   | (1,054                                     | )      |   |                                    |     |   |   |   |   |   |   |   | (1,054 | ) |
| Amortization of stock based compensation                                                                                                                                                                                                                                                                                                                                                                                               |        |   |   |           |   |   |            |   |   | 18,140                                     |   |   |                                    |     |   |   |   |   |   |   |   | 18,140 |   |
| Excess tax benefit from stock based compensation                                                                                                                                                                                                                                                                                                                                                                                  |        |   |   |           |   |   |            |   |   | (1,377                                     | )      |   |                                    |     |   |   |   |   |   |   |   | (1,377 | )  |
| Balance as of the year ended 2008                                                                                                                                                                                                                                                                                                                                                                                                      |        | 54,245 |   |           |   | 542    |            |   |   | 271,821                                    |   |   |                                    | (446,966 | )  |   |   | (46,352 | )  |   |   | (220,955 | )  |
| Comprehensive income (loss):                                                                                                                                                                                                                                                                                                                                                                                                           |        |   |   |           |   |   |            |   |   |                                       |   |   |                                    |     |   |   |   |   |   |   |   |   |   |
| Net loss                                                                      |        |   |   |           |   |   |            |   |   |                                       |   |   |                                    | (30,939  | ) |   |   |   |   |   |   | (30,939 | ) |
| Other comprehensive income (loss):                                                                                                                                                                                                                                                                                                                                                                                                     |        |   |   |           |   |   |            |   |   |                                       |   |   |                                    |     |   |   |   |   |   |   |   |   |   |
|   Pension liability adjustment, net of tax expense of $2,704                                                                                                                                                                                                                                                                                                                                                                 |        |   |   |           |   |   |            |   |   |                                       |   |   |                                    |     |   |   |   | 4,618 |   |   |   | 4,618 |   |
|   Unrealized gain on cash flow hedges, net of tax expense of $4,666                                                                                                                                                                                                                                                                                                                                                          |        |   |   |           |   |   |            |   |   |                                       |   |   |                                    |     |   |   |   | 7,020 |   |   |   | 7,020 |   |
|   Currency translation adjustment                                                                                                                                                                                                                                                                                                                                                                                            |        |   |   |           |   |   |            |   |   |                                       |   |   |                                    |     |   |   |   | 4,438 |   |   |   | 4,438 |   |
|     Other comprehensive income                                                                                                                                                                                                                                                                                                                                                                                     |        |   |   |           |   |   |            |   |   |                                       |   |   |                                    |     |   |   |   |   |   |   |   | 16,076 |   |
|       Total comprehensive loss                                                                                                                                                                                                                                                                                                                                                                           |        |   |   |           |   |   |            |   |   |                                       |   |   |                                    |     |   |   |   |   |   |   |   | (14,863 | )  |
| Exercise of stock options                                                                                                                                                                                                                                                                                                                                                                                                              |        | 732    |   |           |   | 7      |            |   |   | 532                                        |   |   |                                    |     |   |   |   |   |   |   |   | 539 |   |
| Common stock issued in connection with Nashua Corporation acquisition                                                                                                                                                                                                                                                                                                                                                                  |        | 7,056  |   |           |   | 71     |            |   |   | 46,474                                     |   |   |                                    |     |   |   |   |   |   |   |   | 46,545 |   |
| Purchase and retirement of common stock upon vesting of RSUs                                                                                                                                                                                                                                                                                                                                                                           |        |   |   |           |   |   |            |   |   | (2,050                                     | )      |   |                                    |     |   |   |   |   |   |   |   | (2,050 | ) |
| Amortization of stock based compensation                                                                                                                                                                                                                                                                                                                                                                                               |        |   |   |           |   |   |            |   |   | 14,274                                     |   |   |                                    |     |   |   |   |   |   |   |   | 14,274 |   |
| Balance as of the year ended 2009                                                                                                                                                                                                                                                                                                                                                                                                      |        | 62,033 |   |           |   | 620    |            |   |   | 331,051                                    |   |   |                                    | (477,905 | ) |   |   | (30,276 | ) |   |   | (176,510 | )  |
| Comprehensive income (loss):                                                                                                                                                                                                                                                                                                                                                                                                           |        |   |   |           |   |   |            |   |   |                                       |   |   |                                    |     |   |   |   |   |   |   |   |   |   |
| Net loss                                                                      |        |   |   |           |   |   |            |   |   |                                       |   |   |                                    | (186,377 | ) |   |   |   |   |   |   | (186,377 | ) |
| Other comprehensive income (loss):                                                                                                                                                                                                                                                                                                                                                                                                     |        |   |   |           |   |   |            |   |   |                                       |   |   |                                    |     |   |   |   |   |   |   |   |   |   |
|   Pension liability adjustment, net of tax benefit of $1,718                                                                                                                                                                                                                                                                                                                                                                 |        |   |   |           |   |   |            |   |   |                                       |   |   |                                    |     |   |   |   | (2,698 | ) |   |   | (2,698 | ) |
|   Unrealized gain on cash flow hedges, net of tax expense of $5,650                                                                                                                                                                                                                                                                                                                                                          |        |   |   |           |   |   |            |   |   |                                       |   |   |                                    |     |   |   |   | 9,690 |   |   |   | 9,690 |   |
|   Currency translation adjustment                                                                                                                                                                                                                                                                                                                                                                                            |        |   |   |           |   |   |            |   |   |                                       |   |   |                                    |     |   |   |   | 3,001 |   |   |   | 3,001 |   |
|     Other comprehensive income                                                                                                                                                                                                                                                                                                                                                                                     |        |   |   |           |   |   |            |   |   |                                       |   |   |                                    |     |   |   |   |   |   |   |   | 9,993 |   |
|       Total comprehensive loss                                                                                                                                                                                                                                                                                                                                                                           |        |   |   |           |   |   |            |   |   |                                       |   |   |                                    |     |   |   |   |   |   |   |   | (176,384 | ) |
| Exercise of stock options                                                                                                                                                                                                                                                                                                                                                                                                              |        | 694    |   |           |   | 7      |            |   |   | 1,023                                      |   |   |                                    |     |   |   |   |   |   |   |   | 1,030 |   |
| Purchase and retirement of common stock upon vesting of RSUs                                                                                                                                                                                                                                                                                                                                                                           |        |   |   |           |   |   |            |   |   | (1,597                                     | )      |   |                                    |     |   |   |   |   |   |   |   | (1,597 | ) |
| Amortization of stock based compensation                                                                                                                                                                                                                                                                                                                                                                                               |        |   |   |           |   |   |            |   |   | 12,130                                     |   |   |                                    |     |   |   |   |   |   |   |   | 12,130 |   |
| Balance as of the year ended 2010                                                                                                                                                                                                                                                                                                                                                                                                      |        | 62,727 |   |           | $      | 627    |            |   | $      | 342,607                                    |   |   | $                                       | (664,282 | ) |   | $ | (20,283 | ) |   | $ | (341,331 | ) |

----

|  Level 1 — | Valuations based on quoted prices for identical assets and liabilities in active markets. |
|----------------------------|-------------------------------------------------------------------------------------------|

|  Level 2 — | Valuations based on observable inputs other than quoted prices included in Level 1, such as quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets and liabilities in markets that are not active, or other inputs that are observable or can be corroborated by observable market data. |
|-----------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  Level 3 — | Valuations based on unobservable inputs reflecting the Company’s own assumptions, consistent with reasonably available assumptions made by other market participants. |
|-----------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|                             |   | For The Years Ended |   |
|----------------------------------|--------|---------------------|--------|
|                             |   | 2010                |   |   | 2009 |   |   | 2008 |   |
| Balance at beginning of year     |   | $                   | 7,639  |   |   | $ | 6,016 |   |   | $ | 9,911 |   |
| Charged to expense               |   |                | 5,319  |   |   |   | 5,428 |   |   |   | 4,660 |   |
| Write-offs, recoveries and other |   |                | (6,353 | ) |   |   | (3,805 | ) |   |   | (8,555 | ) |
| Balance at end of year           |   | $                   | 6,605  |   |   | $ | 7,639 |   |   | $ | 6,016 |   |

----

----

----

----

----

|                                                                |   | As ofSeptember 15, 2009 |    |
|---------------------------------------------------------------------|--------|-------------------------|---------|
| Accounts receivable, net                                            |   | $                       | 24,056  |   |
| Other current assets                                                |   |                    | 28,999  |   |
| Property, plant and equipment                                       |   |                    | 27,985  |   |
| Goodwill                                                            |   |                    | 9,218   |   |
| Other intangible assets                                             |   |                    | 29,600  |   |
| Other assets                                                        |   |                    | 2,944   |   |
| Total assets acquired                                               |   |                    | 122,802 |   |
| Current liabilities, excluding current maturities of long-term debt |   |                    | 25,990  |   |
| Current maturities of long-term debt                                |   |                    | 2,800   |   |
| Other liabilities                                                   |   |                    | 43,350  |   |
|     Total liabilities assumed                   |   |                    | 72,140  |   |
| Net assets acquired                                                 |   |                    | 50,662  |   |
| Less cash acquired                                                  |   |                    | (1,001) |   |
| Cost of Nashua acquisition, net of cash acquired                    |   | $                       | 49,661  |   |

|                                                |   | Year Ended 2009 |      |
|-----------------------------------------------------|--------|-----------------|-----------|
|                                                |   | AsReported      |      |   | ProForma |   |
| Net sales                                           |   | $               | 1,714,631 |   |   | $ | 1,887,748 |   |
| Operating income                                    |   |            | 32,188    |   |   |   | 31,347 |   |
| Loss from continuing operations                     |   |            | (39,837   | ) |   |   | (40,673 | ) |
| Net loss                                            |   |            | (30,939   | ) |   |   | (31,775 | ) |
| Loss per share – basic and diluted:           |   |            |      |   |   |   |   |   |
|      Continuing operations |   | $               | (0.70     | ) |   | $ | (0.66 | ) |
|      Net loss              |   | $               | (0.54     | ) |   | $ | (0.51 | ) |
|                                                |   |            |      |   |   |   |   |   |
| Weighted average shares:                            |   |            |      |   |   |   |   |   |
|      Basic and diluted     |   |            | 56,787    |   |   |   | 61,730 |   |

----

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |   |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   | 2010   |   | 2009 |
| Raw materials                                                                              |   | $      | 66,390 |   |   | $ | 60,332 |   |
| Work in process                                                                            |   |   | 28,468 |   |   |   | 25,812 |   |
| Finished goods                                                                             |   |   | 54,293 |   |   |   | 59,084 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   | $      | 149,151 |   |   | $ | 145,228 |   |

----

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   | 2010   |     |   |   2009 |   |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------|----------|--------|-------------|--------|
| Land and land improvements                                                                                      |   | $      | 16,023   |   |        | $      | 18,622 |   |
| Buildings and improvements                                                                                      |   |   | 105,757  |   |        |   | 106,785 |   |
| Machinery and equipment                                                                                         |   |   | 608,601  |   |        |   | 616,022 |   |
| Furniture and fixtures                                                                                          |   |   | 11,823   |   |        |   | 12,652 |   |
| Construction in progress                                                                                        |   |   | 7,799    |   |        |   | 12,143 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   |   | 750,003  |   |        |   | 766,224 |   |
| Accumulated depreciation                                                                                        |   |   | (402,082 | )      |        |   | (378,345 | ) |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   | $      | 347,921  |   |        | $      | 387,879 |   |

----

|                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   | Envelopes, Formsand Labels |    |   | CommercialPrinting |   |     | Total   |   |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|----------------------------|---------|--------|--------------------|--------|----------|---------|--------|
| Balance as of the year ended 2008                                                                                                                                                                                                                                                                                                                                                                                                                          |   | $                          | 143,498 |   |               | $      | 167,685  |    |   | $ | 311,183 |   |
|   Acquisition                                                                                     |   |                       | 8,573   |   |               |   | —  |    |   |   | 8,573 |   |
| Balance as of the year ended 2009                                                                                                                                                                                                                                                                                                                                                                                                                          |   |                       | 152,071 |   |               |   | 167,685  |    |   |   | 319,756 |   |
|   Acquisitions                                                                                    |   |                       | 795     |   |               |   | 20,384   |    |   |   | 21,179 |   |
|   Foreign currency translation                                                                    |   |                       | — |   |               |   | 411      |    |   |   | 411 |   |
|   Impairment charge                                                                               |   |                       | — |   |               |   | (132,185 | )  |   |   | (132,185 | )  |
| Balance as of the year ended 2010                                                                                                                                                                                                                                                                                                                                                                                                                          |   | $                          | 152,866 |   |               | $      | 56,295   |    |   | $ | 209,161 |   |

----

|                                       | 2010                                                   |                            | 2009          |             |
|--------------------------------------------|--------------------------------------------------------|---------------------------------|---------------|------------------|
|                                       | Weighted Average Remaining Amortization Period (Years) |   GrossCarryingAmount |          | ImpairmentCharge |   |   | AccumulatedAmortization |   | NetCarryingAmount |   | GrossCarryingAmount |   | AccumulatedAmortization |   | NetCarryingAmount |   |
| Intangible assets with determinable lives: |                                                   |                            |          |             |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Customer relationships                     | 13                                                     |  $                         |  179,722 |             | $ | (27,234 | ) |   | $ | (48,308 | ) | $ | 104,180 |   | $ | 172,205 |   | $ | (38,394 | ) | $ | 133,811 |   |
| Trademarks and tradenames                  | 22                                                     |                            | 25,261        |             |   | — |   |   |   | (5,934 | ) |   | 19,327 |   |   | 21,011 |   |   | (4,986 | ) |   | 16,025 |   |
| Patents                                    | 3                                                      |                            | 3,028         |             |   | — |   |   |   | (2,292 | ) |   | 736 |   |   | 3,028 |   |   | (2,023 | ) |   | 1,005 |   |
| Non-compete agreements                     | 2                                                      |                            | 1,616         |             |   | — |   |   |   | (1,444 | ) |   | 172 |   |   | 2,456 |   |   | (1,958 | ) |   | 498 |   |
| Other                                      | 8                                                      |                            | 802           |             |   | — |   |   |   | (293 | ) |   | 509 |   |   | 802 |   |   | (223 | ) |   | 579 |   |
|                                       |                                                   |                            | 210,429       |             |   | (27,234 | ) |   |   | (58,271 | ) |   | 124,924 |   |   | 199,502 |   |   | (47,584 | ) |   | 151,918 |   |
|                                       |                                                   |                            |          |             |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Intangible assets with indefinite lives:   |                                                   |                            |          |             |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Trademarks                                 |                                                   |                            | 143,500       |             |   | (22,000 | ) |   |   | — |   |   | 121,500 |   |   | 143,500 |   |   | — |   |   | 143,500 |   |
| Total                                      |                                                   | $                               | 353,929       |             | $ | (49,234 | ) |   | $ | (58,271 | ) | $ | 246,424 |   | $ | 343,002 |   | $ | (47,584 | ) | $ | 295,418 |   |

|   |   | Annual Estimated Expense |   |
|--------|--------|--------------------------|--------|
| 2011   |   | $                        | 10,955 |   |
| 2012   |   |                     | 10,872 |   |
| 2013   |   |                     | 10,636 |   |
| 2014   |   |                     | 10,395 |   |
| 2015   |   |                     | 10,308 |   |

----

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |   |   |   |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------|--------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |   | 2010   |   |   | 2009 |   |
| Accrued interest expense                                                                          |   | $      | 25,089 |   |   | $ | 12,884 |   |
| Accrued customer rebates                                                                          |   |   | 21,065 |   |   |   | 15,613 |   |
| Restructuring liabilities                                                                         |   |   | 6,786  |   |   |   | 10,308 |   |
| Other accrued liabilities                                                                         |   |   | 45,531 |   |   |   | 59,274 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |   | $      | 98,471 |   |   | $ | 98,079 |   |

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   |   |      |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------|-----------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   | 2010   |      |   | 2009 |   |
| Revolving credit facility, due 2012                                                                                    |   | $      | —   |   |   | $ | 22,500 |   |
| Revolving credit facility, due 2014                                                                                    |   |   | —   |   |   |   | — |   |
| Term Loans, due 2013                                                                                                   |   |   | —   |   |   |   | 683,306 |   |
| 77⁄8% senior subordinated notes, due 2013                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |   |   | 296,270   |   |   |   | 296,270 |   |
|  83⁄8% senior subordinated notes, due 2014 ($32.2 million outstanding principal amount as of the years ended 2010 and 2009)                                                                                                                                                                                                                                                                                                                                                                                                                  |   |   | 32,610    |   |   |   | 32,715 |   |
| Term Loan B, due 2016 ($380.0 million outstanding principal amount as of the year ended 2010)                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   |   | 376,200   |   |   |   | — |   |
| 101⁄2% senior notes, due 2016                                                                                       |   |   | 170,000   |   |   |   | 170,000 |   |
| 87⁄8% senior second lien notes, due 2018 ($400.0 million outstanding principal amount as of the year ended 2010)                                                                                                                                                                                                                                                                                                                                                                                                                                  |   |   | 397,432   |   |   |   | — |   |
| Other debt including capital leases                                                                                    |   |   | 21,491    |   |   |   | 29,126 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   |   | 1,294,003 |   |   |   | 1,233,917 |   |
| Less current maturities                                                                                                |   |   | (10,098   | ) |   |   | (15,057 | ) |
| Long-term debt                                                                                                         |   | $      | 1,283,905 |   |   | $ | 1,218,860 |   |

----

----

----

----

| 2011       |   | $      | 10,098    |   |
|------------|--------|--------|-----------|--------|
| 2012       |   |   | 8,704     |   |
| 2013       |   |   | 304,875   |   |
| 2014       |   |   | 39,696    |   |
| 2015       |   |   | 5,502     |   |
| Thereafter |   |   | 931,007   |   |
|       |   | $      | 1,299,882 |   |
|       |   |   |      |   |

----

|                                                            |   | 2010   |    |   | 2009   |   |
|-----------------------------------------------------------------|--------|--------|---------|--------|--------|--------|
|                                                            |   |   |    |   |   |   |
| Current Liabilities:                                            |   |   |    |   |   |   |
|      Interest Rate Swaps (ineffective) |   | $      | 2,222   |   |   | $      | — |   |
|      Interest Rate Swaps               |   |   | — |   |   |   | 9,044 |   |
| Long-Term Liabilities:                                          |   |   |    |   |   |   |   |   |
|      Interest Rate Swaps               |   |   | — |   |   |   | 7,875 |   |

----

|                                 |   | 2010          |    |   | 2009      |   |
|--------------------------------------|--------|---------------|---------|--------|-----------|--------|
|                                 |   | CarryingValue |    |   | FairValue |   |   | CarryingValue |   |   | FairValue |   |
| Cash and cash equivalents            |   | $             | 49,756  |   |      | $      | 49,756 |   |   | $ | 10,796 |   |   | $ | 10,796 |   |
| Accounts receivable, net             |   |          | 263,364 |   |      |   | 263,364 |   |   |   | 268,563 |   |   |   | 268,563 |   |
| Current maturities of long-term debt |   |          | 10,098  |   |      |   | 10,098 |   |   |   | 15,057 |   |   |   | 15,057 |   |
| Accounts payable                     |   |          | 166,468 |   |      |   | 166,468 |   |   |   | 183,940 |   |   |   | 183,940 |   |

|                                                                                                                                                                                                                                                                                                                                   |   | 2010   |     |   | 2009   |   |    | 2008   |   |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------|----------|--------|--------|--------|---------|--------|--------|
| Domestic                                                      |   | $      | (245,682 | )      |   | $      | (61,391 | )      |   | $ | (315,140 | ) |
| Foreign                                                       |   |   | 8,966    |   |   |   | 5,801   |   |   |   | (448 | ) |
|                                                                                                                                                                                                                                                                                                                                   |   | $      | (236,716 | )      |   | $      | (55,590 | )      |   | $ | (315,588 | ) |

----

|                                                                                                                                                                                                                                                                                        |   | 2010   |    |   | 2009   |   |    | 2008   |   |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------|---------|--------|--------|--------|---------|--------|--------|
| Current tax expense (benefit):                                                                                                                                                                                                                                                              |   |   |    |   |   |   |    |   |   |
| Federal                                               |   | $      | 152     |   |   | $      | (1,815  | )      |   | $ | 2,011 |   |
| Foreign                                               |   |   | 1,655   |   |   |   | 2,276   |   |   |   | 960 |   |
| State                                                 |   |   | 178     |   |   |   | 1,359   |   |   |   | 2,704 |   |
|                                                                                                                                                                                                                                                                                        |   |   | 1,985   |   |   |   | 1,820   |   |   |   | 5,675 |   |
| Deferred expense (benefit):                                                                                                                                                                                                                                                                 |   |   |    |   |   |   |    |   |   |   |   |   |
| Federal                                                    |   |   | (40,122 | )      |   |   | (14,643 | )      |   |   | (13,889 | )  |
| Foreign                                                    |   |   | (278    | )      |   |   | 313     |   |   |   | (1,603 | ) |
| State                                                      |   |   | (9,246  | )      |   |   | (3,243  | )      |   |   | (8,795 | ) |
|                                                                                                                                                                                                                                                                                        |   |   | (49,646 | )      |   |   | (17,573 | )      |   |   | (24,287 | )  |
| Income tax expense (benefit)                                                                                                                                                                                                                                                                |   | $      | (47,661 | )      |   | $      | (15,753 | )      |   | $ | (18,612 | ) |

|                                                                                                                                                                                                                                                                                                                                                                                                                     |   | 2010   |    |   | 2009   |   |    | 2008   |   |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------|---------|--------|--------|--------|---------|--------|--------|
|                                                                                                                                                                                                                                                                                                                                                                                                                     |   |   |    |   |   |   |    |   |   |
| Expected tax expense (benefit) at federal statutory income tax rate                                                                                                                                                                                                                                                                                                                                                      |   | $      | (82,851 | )      |   | $      | (19,456 | )      |   | $ | (110,456 | ) |
| State and local income tax expense (benefit)                                                                                                                                                                                                                                                                                                                                                                             |   |   | (5,121  | )      |   |   | (1,230  | )      |   |   | (1,302 | ) |
| Change in valuation allowance                                                                 |   |   | (352    | )      |   |   | 356     |   |   |   | (1,298 | ) |
| Change in contingency reserves                                                                |   |   | (3,810  | )      |   |   | 265     |   |   |   | (4 | )  |
| Non-U.S. tax rate differences                                                                 |   |   | (1,762  | )      |   |   | 560     |   |   |   | (486 | ) |
| Non-deductible goodwill                                                                       |   |   | 41,522  |   |   |   | — |   |   |   | 90,990 |   |
| Non-deductible expenses                                                                       |   |   | 3,245   |   |   |   | 4,516   |   |   |   | 2,883 |   |
| Other                                                                                         |   |   | 1,468   |   |   |   | (764    | )      |   |   | 1,061 |   |
| Income tax expense (benefit)                                                                  |   | $      | (47,661 | )      |   | $      | (15,753 | )      |   | $ | (18,612 | ) |

----

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   | 2010   |     |   | 2009   |   |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------|----------|--------|--------|--------|
| Deferred tax assets:                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   |   |     |   |   |   |
| Net operating loss carryforwards                                                                                                    |   | $      | 101,050  |   |   | $      | 89,263 |   |
| Compensation and benefit related accruals                                                                                                                                                                                                                                                                                                                                                                                                                                |   |   | 53,278   |   |   |   | 55,774 |   |
| Foreign tax credit carryforwards                                                                                                    |   |   | 16,661   |   |   |   | 16,661 |   |
| Alternative minimum tax credit carryforwards                                                                                                                                                                                                                                                                                                                                                                                                                             |   |   | 9,046    |   |   |   | 10,644 |   |
| Accounts receivable                                                                                                                 |   |   | 2,884    |   |   |   | 3,006 |   |
| Restructuring accruals                                                                                                              |   |   | 12,626   |   |   |   | 9,699 |   |
| Accrued tax and interest                                                                                                            |   |   | 1,357    |   |   |   | 5,014 |   |
| Other                                                                                                                               |   |   | 11,874   |   |   |   | 16,544 |   |
| Valuation allowance                                                                                                                 |   |   | (24,110  | )      |   |   | (24,461 | ) |
| Total deferred tax assets                                                                             |   |   | 184,666  |   |   |   | 182,144 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   |   |     |   |   |   |   |   |
| Deferred tax liabilities:                                                                                                                                                                                                                                                                                                                                                                                                                                                |   |   |     |   |   |   |   |   |
| Property, plant and equipment                                                                                                       |   |   | (54,624  | )      |   |   | (62,126 | ) |
| Goodwill and other intangible assets                                                                                                                                                                                                                                                                                                                                                                                                                                     |   |   | (74,729  | )      |   |   | (96,644 | ) |
| Inventory                                                                                                                           |   |   | 1,639    |   |   |   | 365 |   |
| Other                                                                                                                               |   |   | (8,805   | )      |   |   | (6,943 | ) |
| Total deferred tax liabilities                                                                        |   |   | (136,519 | )      |   |   | (165,348 | ) |
| Net deferred tax asset                                                                                |   | $      | 48,147   |   |   | $      | 16,796 |   |

|                                                                                                                                                                                                                                                                                                                                                                                                        |   | 2010   |   |   | 2009   |   |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------|--------|--------|--------|--------|
|                                                                                                                                                                                                                                                                                                                                                                                                        |   |   |   |   |   |   |
| Current deferred tax asset (included in prepaid and other current assets)                                                                                                                                                                                                                                                                                                                                   |   | $      | 26,201 |   |   | $      | 21,800 |   |
| Long-term deferred tax asset (liability) (included in other assets, net or other liabilities)                                                                                                                                                                                                                                                                                                               |   |   | 21,946 |   |   |   | (5,004 | ) |
| Total                                                                  |   | $      | 48,147 |   |   | $      | 16,796 |   |

----

| Unrecognized tax benefit – As of year end 2007                                            | $      | 18,031 |   |   |
|-------------------------------------------------------------------------------------------------|--------|--------|--------|--------|
|     Gross increases  - tax positions in prior period              |   | 308    |   |   |
|     Gross decreases  - tax positions in prior period              |   | (1,162 | )      |   |
| Unrecognized tax benefit – As of year end 2008                                            |   | 17,177 |   |   |
|     Gross increases  - tax positions in prior period              |   | 203    |   |   |
|     Gross decreases – expiration of applicable statute of limitations |   | (7,798 | )      |   |
| Unrecognized tax benefit – As of year end 2009                                            |   | 9,582  |   |   |
|     Gross decreases  - tax positions in prior period              |   | (40    | )      |
|     Gross decreases – expiration of applicable statute of limitations |   | (7,316 | )      |
| Unrecognized tax benefit – As of year end 2010                                            | $      | 2,226  |   |

----

----

|                                       |                          |   | EmployeeSeparationCosts |    |   | Asset Impairmentsnet of gain on sale |    |    | EquipmentMovingExpenses |   |   | LeaseTerminationExpenses |   |   | Multi-employer PensionWithdrawal Expenses |    |   | BuildingClean-up &OtherExpenses |   |    | Total  |   |
|--------------------------------------------|-------------------------------|--------|-------------------------|---------|--------|--------------------------------------|---------|---------|-------------------------|--------|--------|--------------------------|--------|--------|-------------------------------------------|---------|--------|-------------------------------------|--------|---------|--------|--------|
| Envelopes, Forms and Labels                |                          |   |                    |    |   |                                 |    |    |                    |   |   |                     |   |   |                                      |    |   |                                |   |    |   |
|                                       | 2009 Plan                     |   | $                       | 3,515   |   |                                 | $       | 64      |                    |   | $      | 191                      |   |   | $                                         | 278     |   |                                | $      | 2,326   |   |   | $ | 573 |   |   | $ | 6,947 |   |
|                                       | 2007 Plan                     |   |                    | — |   |                                 |    | — |                    |   |   | —                  |   |   |                                      | 53      |   |                                |   | — |   |   |   | 69 |   |   |   | 122 |   |
|                                       | 2005 Plan                     |   |                    | — |   |                                 |    | — |                    |   |   | —                  |   |   |                                      | (73     | )      |                                |   | 77      |   |   |   | 83 |   |   |   | 87 |   |
|                                       | Acquisition Integration Plans |   |                    | 1,451   |   |                                 |    | 1,830   |                    |   |   | 721                      |   |   |                                      | 197     |   |                                |   | — |   |   |   | 708 |   |   |   | 4,907 |   |
| Total Envelopes, Forms and Labels          |                          |   | 4,966                   |    |   |                                 | 1,894   |    |                    |   | 912    |                     |   |   | 455                                       |    |   |                                | 2,403  |    |   |   | 1,433 |   |   |   | 12,063 |   |
|                                       |                          |   |                    |    |   |                                 |    |    |                    |   |   |                     |   |   |                                      |    |   |                                |   |    |   |   |   |   |   |   |   |   |   |
| Commercial Printing                        |                          |   |                    |    |   |                                 |    |    |                    |   |   |                     |   |   |                                      |    |   |                                |   |    |   |   |   |   |   |   |   |   |
|                                       | 2009 Plan                     |   |                    | 4,432   |   |                                 |    | 3,008   |                    |   |   | 2,216                    |   |   |                                      | 6,298   |   |                                |   | 6,315   |   |   |   | 4,578 |   |   |   | 26,847 |   |
|                                       | 2007 Plan                     |   |                    | — |   |                                 |    | 1,108   |                    |   |   | —                  |   |   |                                      | 39      |   |                                |   | 74      |   |   |   | 487 |   |   |   | 1,708 |   |
|                                       | 2005 Plan                     |   |                    | — |   |                                 |    | (165    | )                       |   |   | —                  |   |   |                                      | 622     |   |                                |   | — |   |   |   | 369 |   |   |   | 826 |   |
|                                       | Acquisition Integration Plans |   |                    | 78      |   |                                 |    | — |                    |   |   | —                  |   |   |                                      | 164     |   |                                |   | — |   |   |   | — |   |   |   | 242 |   |
| Subtotal                                   |                          |   |                    | 4,510   |   |                                 |    | 3,951   |                    |   |   | 2,216                    |   |   |                                      | 7,123   |   |                                |   | 6,389   |   |   |   | 5,434 |   |   |   | 29,623 |   |
|                                       | Asset Impairments             |   |                    | — |   |                                 |    | 181,419 |                    |   |   | —                  |   |   |                                      | — |   |                                |   | — |   |   |   | — |   |   |   | 181,419 |   |
| Total Commercial Printing                  |                          |   | 4,510                   |    |   |                                 | 185,370 |    |                    |   | 2,216  |                     |   |   | 7,123                                     |    |   |                                | 6,389  |    |   |   | 5,434 |   |   |   | 211,042 |   |
|                                       |                          |   |                    |    |   |                                 |    |    |                    |   |   |                     |   |   |                                      |    |   |                                |   |    |   |   |   |   |   |   |   |   |   |
| Corporate                                  |                          |   |                    |    |   |                                 |    |    |                    |   |   |                     |   |   |                                      |    |   |                                |   |    |   |   |   |   |   |   |   |   |   |
|                                       | 2009 Plan                     |   |                    | 1,780   |   |                                 |    | — |                    |   |   | —                  |   |   |                                      | 352     |   |                                |   | — |   |   |   | 500 |   |   |   | 2,632 |   |
|                                       | 2007 Plan                     |   |                    | — |   |                                 |    | — |                    |   |   | —                  |   |   |                                      | — |   |                                |   | — |   |   |   | 4 |   |   |   | 4 |   |
|                                       | 2005 Plan                     |   |                    | — |   |                                 |    | — |                    |   |   | —                  |   |   |                                      | 299     |   |                                |   | — |   |   |   | 110 |   |   |   | 409 |   |
| Total Corporate                            |                          |   |                    | 1,780   |   |                                 |    | — |                    |   |   | —                  |   |   |                                      | 651     |   |                                |   | — |   |   |   | 614 |   |   |   | 3,045 |   |
| Total Restructuring and Impairment Charges |                          | $      | 11,256                  |    |   | $                                    | 187,264 |    |                    | $      | 3,128  |                     |   | $      | 8,229                                     |    |   | $                                   | 8,792  |    |   | $      | 7,481 |   |   | $ | 226,150 |   |

----

|                                         |                          |   | EmployeeSeparationCosts |    |   | Asset Impairmentsnet of gain on sale |   |    | EquipmentMovingExpenses |   |   | LeaseTerminationExpenses |   |   | Multi-employer PensionWithdrawal Expenses |   |   | BuildingClean-up &Other Expenses |    |    | Total  |   |
|----------------------------------------------|-------------------------------|--------|-------------------------|---------|--------|--------------------------------------|--------|---------|-------------------------|--------|--------|--------------------------|--------|--------|-------------------------------------------|--------|--------|--------------------------------------|---------|---------|--------|--------|
| Envelopes, Forms and Labels                  |                          |   |                    |    |   |                                 |   |    |                    |   |   |                     |   |   |                                      |   |   |                                 |    |    |   |
|                                         | 2009 Plan                     |   | $                       | 5,505   |   |                                 | $      | 2,944   |                    |   | $      | 1,863                    |   |   | $                                         | 3,126  |   |                                 | $       | — |   |   | $ | 2,196 |   |   | $ | 15,634 |   |
|                                         | 2007 Plan                     |   |                    | 122     |   |                                 |   | 67      |                    |   |   | —                  |   |   |                                      | 140    |   |                                 |    | — |   |   |   | 182 |   |   |   | 511 |   |
|                                         | 2005 Plan                     |   |                    | — |   |                                 |   | — |                    |   |   | —                  |   |   |                                      | (203   | )      |                                 |    | — |   |   |   | 279 |   |   |   | 76 |   |
|                                         | Acquisition Integration Plans |   |                    | 710     |   |                                 |   | 35      |                    |   |   | 211                      |   |   |                                      | 159    |   |                                 |    | — |   |   |   | 69 |   |   |   | 1,184 |   |
| Total  Envelopes, Forms and Labels |                          |   | 6,337                   |    |   |                                 | 3,046  |    |                    |   | 2,074  |                     |   |   | 3,222                                     |   |   |                                 | — |    |   |   | 2,726 |   |   |   | 17,405 |   |
|                                         |                          |   |                    |    |   |                                 |   |    |                    |   |   |                     |   |   |                                      |   |   |                                 |    |    |   |   |   |   |   |   |   |   |   |
| Commercial Printing                          |                          |   |                    |    |   |                                 |   |    |                    |   |   |                     |   |   |                                      |   |   |                                 |    |    |   |   |   |   |   |   |   |   |
|                                         | 2009 Plan                     |   |                    | 12,842  |   |                                 |   | 11,077  |                    |   |   | 3,427                    |   |   |                                      | 1,687  |   |                                 |    | 11,303  |   |   |   | 3,728 |   |   |   | 44,064 |   |
|                                         | 2007 Plan                     |   |                    | 87      |   |                                 |   | 981     |                    |   |   | 59                       |   |   |                                      | (51    | )      |                                 |    | 2,133   |   |   |   | 698 |   |   |   | 3,907 |   |
|                                         | 2005 Plan                     |   |                    | — |   |                                 |   | 18      |                    |   |   | 14                       |   |   |                                      | 419    |   |                                 |    | — |   |   |   | 322 |   |   |   | 773 |   |
| Total Commercial Printing                    |                          |   | 12,929                  |    |   |                                 | 12,076 |    |                    |   | 3,500  |                     |   |   | 2,055                                     |   |   |                                 | 13,436  |    |   |   | 4,748 |   |   |   | 48,744 |   |
|                                         |                          |   |                    |    |   |                                 |   |    |                    |   |   |                     |   |   |                                      |   |   |                                 |    |    |   |   |   |   |   |   |   |   |   |
| Corporate                                    |                          |   |                    |    |   |                                 |   |    |                    |   |   |                     |   |   |                                      |   |   |                                 |    |    |   |   |   |   |   |   |   |   |   |
|                                         | 2009 Plan                     |   |                    | 1,156   |   |                                 |   | 143     |                    |   |   | —                  |   |   |                                      | 210    |   |                                 |    | — |   |   |   | 184 |   |   |   | 1,693 |   |
|                                         | 2007 Plan                     |   |                    | 29      |   |                                 |   | — |                    |   |   | —                  |   |   |                                      | 3      |   |                                 |    | — |   |   |   | 67 |   |   |   | 99 |   |
|                                         | 2005 Plan                     |   |                    | — |   |                                 |   | — |                    |   |   | —                  |   |   |                                      | 93     |   |                                 |    | — |   |   |   | — |   |   |   | 93 |   |
| Total Corporate                              |                          |   |                    | 1,185   |   |                                 |   | 143     |                    |   |   | —                  |   |   |                                      | 306    |   |                                 |    | — |   |   |   | 251 |   |   |   | 1,885 |   |
| Total Restructuring and Impairment Charges   |                          | $      | 20,451                  |    |   | $                                    | 15,265 |    |                    | $      | 5,574  |                     |   | $      | 5,583                                     |   |   | $                                    | 13,436  |    |   | $      | 7,725 |   |   | $ | 68,034 |   |

----

|                                              |              |   | EmployeeSeparationCosts |    |   | Asset Impairmentsnet of gain on sale |    |    | EquipmentMovingExpenses |   |   | LeaseTerminationExpenses |   |   | Multi-employer PensionWithdrawal Expenses |    |   | Building Clean-up &Other Expenses |    |    | Total  |   |
|---------------------------------------------------|-------------------|--------|-------------------------|---------|--------|--------------------------------------|---------|---------|-------------------------|--------|--------|--------------------------|--------|--------|-------------------------------------------|---------|--------|---------------------------------------|---------|---------|--------|--------|
| Envelopes, Forms and Labels                       |              |   |                    |    |   |                                 |    |    |                    |   |   |                     |   |   |                                      |    |   |                                  |    |    |   |
|                                              | 2007 Plan         |   | $                       | 2 ,739  |   |                                 | $       | 1,130   |                    |   | $      | 324                      |   |   | $                                         | 665     |   |                                  | $       | — |   |   | $ | 562 |   |   | $ | 5,420 |   |
|                                              | 2005 Plan         |   |                    | 36      |   |                                 |    | — |                    |   |   | —                  |   |   |                                      | (93     | )      |                                  |    | — |   |   |   | 386 |   |   |   | 329 |   |
| Subtotal                                          |              |   |                    | 2,775   |   |                                 |    | 1,130   |                    |   |   | 324                      |   |   |                                      | 572     |   |                                  |    | — |   |   |   | 948 |   |   |   | 5,749 |   |
|                                              | Asset Impairments |   |                    | — |   |                                 |    | 168,429 |                    |   |   | —                  |   |   |                                      | — |   |                                  |    | — |   |   |   | — |   |   |   | 168,429 |   |
| Total Envelopes, Forms and Lables                 |              |   | 2,775                   |    |   |                                 | 169,559 |    |                    |   | 324    |                     |   |   | 572                                       |    |   |                                  | — |    |   |   | 948 |   |   |   | 174,178 |   |
|                                              |              |   |                    |    |   |                                 |    |    |                    |   |   |                     |   |   |                                      |    |   |                                  |    |    |   |   |   |   |   |   |   |   |   |
| Commercial Printing                               |              |   |                    |    |   |                                 |    |    |                    |   |   |                     |   |   |                                      |    |   |                                  |    |    |   |   |   |   |   |   |   |   |
|                                              | 2007 Plan         |   |                    | 5,961   |   |                                 |    | 1,421   |                    |   |   | 658                      |   |   |                                      | 1,591   |   |                                  |    | (236    | )      |   |   | 1,671 |   |   |   | 11,066 |   |
|                                              | 2005 Plan         |   |                    | 132     |   |                                 |    | (226    | )                       |   |   | 520                      |   |   |                                      | 492     |   |                                  |    | — |   |   |   | 1,192 |   |   |   | 2,110 |   |
| Subtotal                                          |              |   |                    | 6,093   |   |                                 |    | 1,195   |                    |   |   | 1,178                    |   |   |                                      | 2,083   |   |                                  |    | (236    | )      |   |   | 2,863 |   |   |   | 13,176 |   |
|                                              | Asset Impairments |   |                    | — |   |                                 |    | 204,392 |                    |   |   | —                  |   |   |                                      | — |   |                                  |    | — |   |   |   | — |   |   |   | 204,392 |   |
| Total Commercial Printing                         |              |   | 6,093                   |    |   |                                 | 205,587 |    |                    |   | 1,178  |                     |   |   | 2,083                                     |    |   |                                  | (236    | )       |   |   | 2,863 |   |   |   | 217,568 |   |
|                                              |              |   |                    |    |   |                                 |    |    |                    |   |   |                     |   |   |                                      |    |   |                                  |    |    |   |   |   |   |   |   |   |   |   |
| Corporate                                         |              |   |                    |    |   |                                 |    |    |                    |   |   |                     |   |   |                                      |    |   |                                  |    |    |   |   |   |   |   |   |   |   |   |
|                                              | 2007 Plan         |   |                    | 290     |   |                                 |    | — |                    |   |   | —                  |   |   |                                      | 63      |   |                                  |    | — |   |   |   | 51 |   |   |   | 404 |   |
|                                              | 2005 Plan         |   |                    | 35      |   |                                 |    | — |                    |   |   | —                  |   |   |                                      | 218     |   |                                  |    | — |   |   |   | 25 |   |   |   | 278 |   |
| Subtotal                                          |              |   |                    | 325     |   |                                 |    | — |                    |   |   | —                  |   |   |                                      | 281     |   |                                  |    | — |   |   |   | 76 |   |   |   | 682 |   |
|                                              | Other Charges     |   |                    | — |   |                                 |    | — |                    |   |   | —                  |   |   |                                      | — |   |                                  |    | — |   |   |   | 6,638 |   |   |   | 6,638 |   |
| Total Corporate                                   |              |   |                    | 325     |   |                                 |    | — |                    |   |   | —                  |   |   |                                      | 281     |   |                                  |    | — |   |   |   | 6,714 |   |   |   | 7,320 |   |
| Total Restructuring, Impairment and Other Charges |              | $      | 9,193                   |    |   | $                                    | 375,146 |    |                    | $      | 1,502  |                     |   | $      | 2,936                                     |    |   | $                                     | (236    | )       |   | $      | 10,525 |   |   | $ | 399,066 |   |

|     2009 Plan |   | LeaseTermination |    |   | EmployeeSeparationCosts |   |    | PensionWithdrawalLiabilities |   |   | Building Clean-upandOther Expenses |   |   | Total  |    |
|-----------------------------------|--------|------------------|---------|--------|-------------------------|--------|---------|------------------------------|--------|--------|------------------------------------|--------|--------|--------|---------|
| Balance as of year end 2008       |   | $                | — |   |                    | $      | — |                         |   | $      | —                            |   |   | $      | — |   |   | $ | — |   |
| Accruals, net                     |   |             | 5,023   |   |                    |   | 19,503  |                         |   |   | 11,303                             |   |   |   | 6,108   |   |   |   | 41,937 |   |
| Payments                          |   |             | (2,799  | )      |                    |   | (16,100 | )             |   |   | —                            |   |   |   | (5,968  | ) |   |   | (24,867 | ) |
| Balance as of year end 2009       |   |             | 2,224   |   |                    |   | 3,403   |                         |   |   | 11,303                             |   |   |   | 140     |   |   |   | 17,070 |   |
| Accruals, net                     |   |             | 6,928   |   |                    |   | 9,727   |                         |   |   | 8,641                              |   |   |   | 5,651   |   |   |   | 30,947 |   |
| Payments                          |   |             | (4,755  | )      |                    |   | (11,797 | )                            |   |   | (432                               | )      |   |   | (5,791  | ) |   |   | (22,775 | ) |
| Balance as of year end 2010       |   | $                | 4,397   |   |                    | $      | 1,333   |                         |   | $      | 19,512                             |   |   | $      | — |   |   | $ | 25,242 |   |

|     2007 Plan |   | LeaseTermination |   |   | EmployeeSeparationCosts |   |    | PensionWithdrawalLiabilities |   |   | Building Clean-upandOther Expenses |   |   | Total  |    |
|-----------------------------------|--------|------------------|--------|--------|-------------------------|--------|---------|------------------------------|--------|--------|------------------------------------|--------|--------|--------|---------|
| Balance as of year end 2008       |   | $                | 3,589  |   |                    | $      | 1,975   |                         |   | $      | 1,800                              |   |   | $      | — |   |   | $ | 7,364 |   |
| Accruals, net                     |   |             | 92     |   |                    |   | 238     |                         |   |   | 2,133                              |   |   |   | 947     |   |   |   | 3,410 |   |
| Payments                          |   |             | (2,040 | )      |                    |   | (2,212  | )             |   |   | (777                               | )      |   |   | (947    | ) |   |   | (5,976 | ) |
| Balance as of year end 2009       |   |             | 1,641  |   |                    |   | 1       |                         |   |   | 3,156                              |   |   |   | — |   |   |   | 4,798 |   |
| Accruals, net                     |   |             | 92     |   |                    |   | — |                         |   |   | 74                                 |   |   |   | 560     |   |   |   | 726 |   |
| Payments                          |   |             | (620   | )      |                    |   | (1      | )                            |   |   | —                            |   |   |   | (560    | ) |   |   | (1,181 | ) |
| Balance as of year end 2010       |   | $                | 1,113  |   |                    | $      | — |                         |   | $      | 3,230                              |   |   | $      | — |   |   | $ | 4,343 |   |

----

|     2005 Plan |   | LeaseTermination |   |   | EmployeeSeparationCosts |   |    | PensionWithdrawalLiabilities |   |   | Building Clean-upandOther Expenses |   |   | Total  |    |
|-----------------------------------|--------|------------------|--------|--------|-------------------------|--------|---------|------------------------------|--------|--------|------------------------------------|--------|--------|--------|---------|
| Balance as of year end 2008       |   | $                | 3,877  |   |                    | $      | — |                         |   | $      | 208                                |   |   | $      | — |   |   | $ | 4,085 |   |
| Accruals, net                     |   |             | 309    |   |                    |   | — |                         |   |   | —                            |   |   |   | 601     |   |   |   | 910 |   |
| Payments                          |   |             | (2,508 | )      |                    |   | — |                         |   |   | (120                               | )      |   |   | (601    | ) |   |   | (3,229 | ) |
| Balance as of year end 2009       |   |             | 1,678  |   |                    |   | — |                         |   |   | 88                                 |   |   |   | — |   |   |   | 1,766 |   |
| Accruals, net                     |   |             | 848    |   |                    |   | — |                         |   |   | 77                                 |   |   |   | 562     |   |   |   | 1,487 |   |
| Payments                          |   |             | (1,567 | )      |                    |   | — |                         |   |   | (119                               | )      |   |   | (562    | ) |   |   | (2,248 | ) |
| Balance as of year end 2010       |   | $                | 959    |   |                    | $      | — |                         |   | $      | 46                                 |   |   | $      | — |   |   | $ | 1,005 |   |

|     Acquisition Integration Plans |   | LeaseTermination |   |   | EmployeeSeparationCosts |   |    | PensionWithdrawalLiabilities |   |   | Building Clean-upandOther Expenses |   |   | Total  |    |
|-------------------------------------------------------|--------|------------------|--------|--------|-------------------------|--------|---------|------------------------------|--------|--------|------------------------------------|--------|--------|--------|---------|
| Balance as of year end 2008                           |   | $                | 2,264  |   |                    | $      | — |                         |   | $      | —                            |   |   | $      | — |   |   | $ | 2,264 |   |
| Accruals, net                                         |   |             | 159    |   |                    |   | 710     |                         |   |   | —                            |   |   |   | 69      |   |   |   | 938 |   |
| Assumed in acquisition                                |   |             | 877    |   |                    |   | 123     |                         |   |   | —                            |   |   |   | — |   |   |   | 1,000 |   |
| Payments                                              |   |             | (509   | )      |                    |   | (301    | )             |   |   | —                            |   |   |   | (69     | ) |   |   | (879 | ) |
| Balance as of year end 2009                           |   |             | 2,791  |   |                    |   | 532     |                         |   |   | —                            |   |   |   | — |   |   |   | 3,323 |   |
| Accruals, net                                         |   |             | 361    |   |                    |   | 1,529   |                         |   |   | —                            |   |   |   | 708     |   |   |   | 2,598 |   |
| Payments                                              |   |             | (1,509 | )      |                    |   | (1,834  | )                            |   |   | —                            |   |   |   | (708    | ) |   |   | (4,051 | ) |
| Balance as of year end 2010                           |   | $                | 1,643  |   |                    | $      | 227     |                         |   | $      | —                            |   |   | $      | — |   |   | $ | 1,870 |   |

----

|                                                                                                                                                                                                                                                                                                                                                |   | Options   |            | WeightedAverageExercisePrice |    | WeightedAverageRemainingContractualTerm(In Years) |   | AggregateIntrinsicValue(a)(inthousands) |   |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|-----------|-----------------|------------------------------|---------|---------------------------------------------------|--------|-----------------------------------------|--------|
| Outstanding as of the year ended 2007                                                                                                                                                                                                                                                                                                               |   | 3,849,980 |            | $                            | 15.14   |                                              | 4.8    |                                    | $      | 13,661 |   |
| Granted                                                          |   | —   |            |                         | — |                                              |   |                                    |   |   |   |
| Exercised                                                        |   | (209,880  | )               |                         | 8.93    |                                              |   |                                    | $      | 516 |   |
| Forfeited                                                        |   | (718,125  | )               |                         | 17.04   |                                              |   |                                    |   |   |   |
| Outstanding as of the year ended 2008                                                                                                                                                                                                                                                                                                               |   | 2,921,975 |            | $                            | 15.12   |                                              | 3.9    |                                    | $      | 32 |   |
| Granted                                                          |   | 1,315,328 |   (b) |                         | 4.27    |                                              |   |                                    |   |   |   |
| Exercised                                                        |   | (106,452  | )               |                         | 3.82    |                                              |   |                                    | $      | 421 |   |
| Forfeited                                                        |   | (213,000  | )               |                         | 16.13   |                                              |   |                                    |   |   |   |
| Outstanding as of the year ended 2009                                                                                                                                                                                                                                                                                                               |   | 3,917,851 |            | $                            | 11.73   |                                              | 3.7    |                                    | $      | 5,513 |   |
| Granted                                                          |   | 660,000   |            |                         | 7.02    |                                              |   |                                    |   |   |   |
| Exercised                                                        |   | (179,773  | )               |                         | 4.73    |                                              |   |                                    | $      | 418 |   |
| Forfeited                                                        |   | (592,854  | )               |                         | 15.23   |                                              |   |                                    |   |   |   |
| Outstanding as of the year ended 2010                                                                                                                                                                                                                                                                                                               |   | 3,805,224 |            | $                            | 10.70   |                                              | 3.1    |                                    | $      | 1,075 |   |
|                                                                                                                                                                                                                                                                                                                                                |   |      |            |                         |    |                                              |   |                                    |   |   |   |
|                                                                                                                                                                                                                                                                                                                                                |   |      |            |                         |    |                                              |   |                                    |   |   |   |
| Exercisable as of the year ended 2008                                                                                                                                                                                                                                                                                                               |   | 1,678,225 |            | $                            | 13.76   |                                              | 3.9    |                                    | $      | 32 |   |
| Exercisable as of the year ended 2009                                                                                                                                                                                                                                                                                                               |   | 2,288,226 |            | $                            | 13.81   |                                              | 2.8    |                                    | $      | 437 |   |
| Exercisable as of the year ended 2010                                                                                                                                                                                                                                                                                                               |   | 2,371,974 |            | $                            | 13.27   |                                              | 2.2    |                                    | $      | 334 |   |

|   | (a) | Intrinsic value for purposes of this table represents the amount by which the fair value of the underlying stock, based on the respective market prices as of the years ended 2010, 2009 and 2008 or, if exercised, the exercise dates, exceeds the exercise prices of the respective options. |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | Includes 176,328 stock options assumed in connection with the acquisition of Nashua. |
|--------|-----|--------------------------------------------------------------------------------------|

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | 2010   |   |   | 2009   |   |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------|--------|--------|--------|
| Weighted average fair value of option grants during the year                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | $      | 2.77   |   |   | $      | 1.68 |   |
| Assumptions:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   |   |   |   |   |   |   |
| Expected option life in years                                                                                      |   | 4.25   |   |   |   | 4.25 |   |
| Risk-free interest rate                                                                                            |   | 1.61   | %      |   |   | 2.09 | % |
| Expected volatility                                                                                                |   | 47.3   | %      |   |   | 46.0 | % |
| Expected dividend yield                                                                                            |   | 0.0    | %      |   |   | 0.0 | % |

----

|                                                                                                                                                                                                                                                                                                |   | RestrictedShares |   | Weighted AverageGrant DateFair Value |    | RSUs   |       | Weighted AverageGrant DateFair Value |   |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|------------------|--------|--------------------------------------|---------|--------|------------|--------------------------------------|--------|
| Unvested as of the year ended 2007                                                                                                                                                                                                                                                                  |   | 100,000          |   | $                                    | 9.52    |   | 1,132,150  |                                 | $      | 18.36 |   |
| Granted                                                  |   | —          |   |                                 | — |   | 1,930,410  |                                 |   | 9.77 |   |
| Vested                                                   |   | (50,000          | )      |                                 | 9.52    |   | (395,600   | )                                    |   | 18.19 |   |
| Forfeited                                                |   | —          |   |                                 | — |   | (136,171   | )                                    |   | 17.59 |   |
| Unvested as of the year ended 2008                                                                                                                                                                                                                                                                  |   | 50,000           |   | $                                    | 9.52    |   | 2,530,789  |                                 | $      | 11.95 |   |
| Granted                                                  |   | 171,144          | (a)    |                                 | 6.53    |   | 562,960    |                                 |   | 4.22 |   |
| Vested                                                   |   | (50,000          | )      |                                 | 9.52    |   | (1,136,715 | )                                    |   | 11.89 |   |
| Forfeited                                                |   | (10,000          | )      |                                 | 6.53    |   | (60,449    | )                                    |   | 9.59 |   |
| Unvested as of the year ended 2009                                                                                                                                                                                                                                                                  |   | 161,144          |   | $                                    | 6.53    |   | 1,896,585  |                                 | $      | 9.72 |   |
| Granted                                                  |   | —          |   |                                 | — |   | 756,924    |                                 |   | 7.02 |   |
| Vested                                                   |   | (1,447           | )      |                                 | 6.53    |   | (904,710   | )                                    |   | 10.48 |   |
| Forfeited                                                |   | (134,397         | )      |                                 | 6.53    |   | (28,125    | )                                    |   | 9.49 |   |
| Unvested as of the year ended 2010                                                                                                                                                                                                                                                                  |   | 25,300           |   | $                                    | 6.53    |   | 1,720,674  |                                 | $      | 8.13 |   |

|   | (a) | Represents restricted shares that were granted in connection with the acquisition of Nashua. |
|--------|-----|----------------------------------------------------------------------------------------------|

----

----

|                                                                                                                                                                                                                                                                                                                                                                                                                                             |   | Pensions |    |   | SERPs  |   |    | OPEBs  |   |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|----------|---------|--------|--------|--------|---------|--------|--------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                             |   | 2010     |    |   | 2009   |   |    | 2010   |   |   | 2009 |   |   | 2010 |   |   | 2009 |   |
| Reconciliation of benefit obligation:                                                                                                                                                                                                                                                                                                                                                                                                            |   |     |    |   |   |   |    |   |   |   |   |   |   |   |   |   |   |   |
| Benefit obligation at beginning of year                                                                                                                                                                                                                                                                                                                                                                                                          |   | $        | 262,366 |   |   | $      | 151,371 |   |   | $ | 18,965 |   |   | $ | 16,329 |   |   | $ | 2,847 |   |   | $ | 2,189 |   |
| Projected benefit obligation assumed from acquisitions                                                                                                                                                                                                                                                                                                                                                                                           |   |     | — |   |   |   | 102,724 |   |   |   | — |   |   |   | 2,908 |   |   |   | — |   |   |   | 341 |   |
| Service cost                                                                                                                                                            |   |     | 439     |   |   |   | 543     |   |   |   | — |   |   |   | — |   |   |   | — |   |   |   | — |   |
| Interest cost                                                                                                                                                           |   |     | 14,803  |   |   |   | 10,821  |   |   |   | 1,427 |   |   |   | 1,347 |   |   |   | 153 |   |   |   | 133 |   |
| Actuarial (gain) loss                                                                                                                                                   |   |     | 16,332  |   |   |   | 6,374   |   |   |   | 558 |   |   |   | 395 |   |   |   | (65 | ) |   |   | 355 |   |
| Benefits paid                                                                                                                                                           |   |     | (13,665 | )      |   |   | (9,467  | )      |   |   | (2,069 | ) |   |   | (2,014 | ) |   |   | (134 | ) |   |   | (171 | ) |
| Benefit obligation at end of year                                                                                                                                                                                                                                                                                                                                                                                                                |   | $        | 280,275 |   |   | $      | 262,366 |   |   | $ | 18,881 |   |   | $ | 18,965 |   |   | $ | 2,801 |   |   | $ | 2,847 |   |
| Reconciliation of fair value of plan assets:                                                                                                                                                                                                                                                                                                                                                                                                     |   |     |    |   |   |   |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Fair value of plan assets at beginning of year                                                                                                                                                                                                                                                                                                                                                                                                   |   | $        | 183,433 |   |   | $      | 98,226  |   |   | $ | — |   |   | $ | — |   |   | $ | — |   |   | $ | — |   |
| Fair value of plan assets assumed from acquisitions                                                                                                                                                                                                                                                                                                                                                                                              |   |     | — |   |   |   | 69,412  |   |   |   | — |   |   |   | — |   |   |   | — |   |   |   | — |   |
| Actual return on plan assets                                                                                                                                                                                                                                                                                                                                                                                                                     |   |     | 24,466  |   |   |   | 20,668  |   |   |   | — |   |   |   | — |   |   |   | — |   |   |   | — |   |
| Employer contributions                                                                                                                                                  |   |     | 8,605   |   |   |   | 4,594   |   |   |   | 2,069 |   |   |   | 2,014 |   |   |   | 134 |   |   |   | 171 |   |
| Benefits paid                                                                                                                                                           |   |     | (13,665 | )      |   |   | (9,467  | )      |   |   | (2,069 | ) |   |   | (2,014 | ) |   |   | (134 | ) |   |   | (171 | ) |
| Fair value of plan assets at end of year                                                                                                                                                                                                                                                                                                                                                                                                         |   |     | 202,839 |   |   |   | 183,433 |   |   |   | — |   |   |   | — |   |   |   | — |   |   |   | — |   |
| Funded status at end of year                                                                                                                                                                                                                                                                                                                                                                                                                     |   | $        | (77,436 | )      |   | $      | (78,933 | )      |   | $ | (18,881 | ) |   | $ | (18,965 | ) |   |   | (2,801 | ) |   |   | (2,847 | ) |
| Amounts recognized in accumulated other comprehensive loss:                                                                                                                                                                                                                                                                                                                                                                                      |   |     |    |   |   |   |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net actuarial loss                                                                                                                                                      |   | $        | 38,698  |   |   | $      | 34,636  |   |   | $ | 1,789 |   |   | $ | 1,264 |   |   | $ | 41 |   |   | $ | 111 |   |
| Prior service cost                                                                                                                                                      |   |     | 2       |   |   |   | 10      |   |   |   | — |   |   |   | — |   |   |   | (35 | ) |   |   | (42 | ) |
| Total                                                                                                                                                                                                 |   | $        | 38,700  |   |   | $      | 34,646  |   |   | $ | 1,789 |   |   | $ | 1,264 |   |   | $ | 6 |   |   | $ | 69 |   |
| Amounts recognized in the consolidated balance sheets:                                                                                                                                                                                                                                                                                                                                                                                           |   |     |    |   |   |   |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Current liabilities                                                                                                                                                     |   | $        | — |   |   | $      | — |   |   | $ | 2,081 |   |   | $ | 2,129 |   |   | $ | 332 |   |   | $ | 367 |   |
| Long-term liabilities                                                                                                                                                   |   |     | 77,436  |   |   |   | 78,933  |   |   |   | 16,800 |   |   |   | 16,836 |   |   |   | 2,469 |   |   |   | 2,480 |   |
|            Total liabilities                                                            |   | $        | 77,436  |   |   | $      | 78,933  |   |   | $ | 18,881 |   |   | $ | 18,965 |   |   | $ | 2,801 |   |   | $ | 2,847 |   |

----

|                                                                                                                                                                                                                                                                                                                                                                                |   |   |    |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------|---------|
|                                                                                                                                                                                                                                                                                                                                                                                |   | 2010   |    |   | 2009 |   |   | 2008 |   |
| Service cost                                                                                               |   | $      | 439     |   |   | $ | 543 |   |   | $ | 480 |   |
| Interest cost on projected benefit obligation                                                                                                                                                                                                                                                                                                                                       |   |   | 16,383  |   |   |   | 12,301 |   |   |   | 10,102 |   |
| Expected return on plan assets                                                                                                                                                                                                                                                                                                                                                      |   |   | (14,478 | ) |   |   | (9,251 | ) |   |   | (10,624 | ) |
| Net amortization and deferral                                                                                                                                                                                                                                                                                                                                                       |   |   | 2       |   |   |   | 2 |   |   |   | 8 |   |
| Recognized actuarial loss                                                                                  |   |   | 2,304   |   |   |   | 2,383 |   |   |   | 221 |   |
|       Net periodic cost                                                      |   | $      | 4,650   |   |   | $ | 5,978 |   |   | $ | 187 |   |
|                                                                                                                                                                                                                                                                                                                                                                                |   |   |    |   |   |   |   |   |   |   |   |   |

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |   | 2010   |   |   | 2009   |   |   | 2008   |   |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------|--------|--------|--------|--------|--------|--------|--------|
| Weighted average discount rate                                                                                      |   |   | 5.25   | %      |   |   | 5.75   | %      |   |   | 6.25 | % |
| Expected long-term rate of return on plan assets                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   |   | 8.00   | %      |   |   | 8.00   | %      |   |   | 8.00 | % |
| Rate of compensation increase                                                                                       |   |   | 4.00   | %      |   |   | 4.00   | %      |   |   | 4.00 | % |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |   |   |   |   |   |   |   |   |   |   |   |   |

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   | 2010   |    |   | 2009   |   |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------|---------|--------|--------|--------|
| Projected benefit obligation                                                                              |   | $      | 299,156 |   |   | $      | 281,331 |   |
| Accumulated benefit obligation                                                                            |   |   | 298,751 |   |   |   | 280,463 |   |
| Fair value of plan assets                                                                                 |   |   | 202,839 |   |   |   | 183,433 |   |

----

|                                                                                                   | Pension Plans |                            | SERP   |    |                     | OPEB  |
|--------------------------------------------------------------------------------------------------------|---------------|---------------------------------|--------|---------|--------------------------|------------|
|                2011              | $        | 14,436      |   | $  | 2,109     |       |  $ |                         340     |
|                2012              |          | 15,045                          |   |    | 2,183                    |       |   | 318 |
|                2013              |          | 15,504                          |   |    | 2,239                    |       |   | 296 |
|                2014              |          | 16,046                          |   |    | 2,153                    |       |   | 276 |
|                2015              |          | 16,410                          |   |    | 2,116                    |       |   | 256 |
|                2016 – 2020 |          | 89,280                          |   |    | 7,184                    |       |   | 1,032 |

|                      |   | 2010    |    |
|---------------------------|--------|---------|---------|
|                      |   | Level 1 |    |   | Level 2 |   |   | Level 3 |   |   | Total |   |
| Cash and cash equivalents |   | $       | 6,263   |   |   | $ | — |   |   | $ | — |   |   | $ | 6,263 |   |
| Fixed Income              |   |    | 47,345  |   |   |   | 1,898 |   |   |   | — |   |   |   | 49,243 |   |
| Equity                    |   |    | 104,825 |   |   |   | — |   |   |   | — |   |   |   | 104,825 |   |
| Alternative investments   |   |    | — |   |   |   | — |   |   |   | 37,422 |   |   |   | 37,422 |   |
| Other                     |   |    | 3,039   |   |   |   | 2,047 |   |   |   | — |   |   |   | 5,086 |   |
| Total                     |   | $       | 161,472 |   |   | $ | 3,945 |   |   | $ | 37,422 |   |   | $ | 202,839 |   |

|                      |   | 2009    |    |
|---------------------------|--------|---------|---------|
|                      |   | Level 1 |    |   | Level 2 |   |   | Level 3 |   |   | Total |   |
| Cash and cash equivalents |   | $       | 4,492   |   |   | $ | — |   |   | $ | — |   |   | $ | 4,492 |   |
| Fixed Income              |   |    | 39,562  |   |   |   | 1,815 |   |   |   | — |   |   |   | 41,377 |   |
| Equity                    |   |    | 96,778  |   |   |   | — |   |   |   | — |   |   |   | 96,778 |   |
| Alternative investments   |   |    | — |   |   |   | — |   |   |   | 35,707 |   |   |   | 35,707 |   |
| Other                     |   |    | 2,938   |   |   |   | 2,141 |   |   |   | — |   |   |   | 5,079 |   |
| Total                     |   | $       | 143,770 |   |   | $ | 3,956 |   |   | $ | 35,707 |   |   | $ | 183,433 |   |

|                              |   | Alternative Investments |   |
|-----------------------------------|--------|-------------------------|--------|
| Balance as of the year ended 2008 |   | $                       | 16,314 |   |
| Assumed in acquisition            |   |                    | 17,083 |   |
| Unrealized gains                  |   |                    | 2,628  |   |
| Purchases, sales and settlements  |   |                    | (318   | ) |
| Balance as of the year ended 2009 |   |                    | 35,707 |   |
| Purchases, sales and settlements  |   |                    | (1,422 | ) |
| Unrealized gains                  |   |                    | 3,137  |   |
| Balance as of the year ended 2010 |   | $                       | 37,422 |   |

----

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   | 2010   |   |   | 2009   |   |   | Target |   |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------|--------|--------|--------|--------|--------|--------|--------|
| Equity securities                                                                            |   |   | 52-61  | %      |   |   | 46-61  | %      |   |   | 60-75 | % |
| Fixed income securities                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   |   | 25-34  | %      |   |   | 20-35  | %      |   |   | 25-35 | % |
| Alternative investments and other                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   |   | 5-23   | %      |   |   | 4-29   | %      |   |   | 0-10 | % |

| 2011                                                                        |   | $      | 23,306 |   |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------|--------|--------|
| 2012                                                                        |   |   | 17,820 |   |
| 2013                                                                        |   |   | 14,456 |   |
| 2014                                                                        |   |   | 10,178 |   |
| 2015                                                                        |   |   | 8,162  |   |
| Thereafter                                                                  |   |   | 15,588 |   |
| Total                                                                                                |   | $      | 89,510 |   |

----

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |   | 2010   |    |   | 2009   |   |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------|---------|--------|--------|--------|
| Currency translation adjustments                                                                                                            |   | $      | 6,540   |   |   | $      | 3,539 |   |
| Unrealized loss on cash flow hedges, net of tax expense of  $5,650 and $4,666 as of the years ended 2010 and 2009, respectively                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   |   | (1,793  | )      |   |   | (11,483 | ) |
| Pension liability adjustments, net of tax (benefit) and expense of $1,718 and $2,704, respectively as of the years ended 2010 and 2009, respectively                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |   |   | (25,030 | )      |   |   | (22,332 | ) |
| Total accumulated other comprehensive loss                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   | $      | (20,283 | )      |   | $      | (30,276 | ) |

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |   | 2010   |     |   | 2009   |   |    | 2008   |   |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------|----------|--------|--------|--------|---------|--------|--------|
| Numerator for basic and diluted income (loss) per share:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   |   |     |   |   |   |    |   |   |
| Loss from continuing operations                                                                                         |   | $      | (189,055 | )      |   | $      | (39,837 | )      |   | $ | (296,976 | ) |
| Income (loss) from discontinued operations, net of taxes                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   |   | 2,678    |   |   |   | 8,898   |   |   |   | (1,051 | ) |
| Net loss                                                                                                                |   | $      | (186,377 | )      |   | $      | (30,939 | )      |   | $ | (298,027 | ) |
| Denominator weighted average common shares outstanding:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |   |   |     |   |   |   |    |   |   |   |   |   |
| Basic shares                                                                                                            |   |   | 62,382   |   |   |   | 56,787  |   |   |   | 53,904 |   |
| Dilutive effect of equity awards                                                                                                                 |   |   | —  |   |   |   | — |   |   |   | — |   |
| Diluted shares                                                                                                          |   |   | 62,382   |   |   |   | 56,787  |   |   |   | 53,904 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |   |   |     |   |   |   |    |   |   |   |   |   |
| Income (loss) per share – basic and diluted:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |   |     |   |   |   |    |   |   |   |   |   |
| Continuing operations                                                                                                   |   | $      | (3.03    | )      |   | $      | (0.70   | )      |   | $ | (5.51 | ) |
| Discontinued operations                                                                                                 |   |   | 0.04     |   |   |   | 0.16    |   |   |   | (0.02 | ) |
| Net loss                                                                                                                |   | $      | (2.99    | )      |   | $      | (0.54   | )      |   | $ | (5.53 | ) |

----

----

|                                                                                                                                                                                                                                                                                                                                                                                                                                                |   | 2010   |      |   | 2009   |   |      | 2008   |   |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------|-----------|--------|--------|--------|-----------|--------|--------|
| Net sales:                                                                                                                                                                                                                                                                                                                                                                                                                                          |   |   |      |   |   |   |      |   |   |
| Envelopes, Forms and Labels                                                                     |   | $      | 966,859   |   |   | $      | 819,399   |   |   | $ | 916,145 |   |
| Commercial Printing                                                                             |   |   | 847,857   |   |   |   | 895,232   |   |   |   | 1,182,549 |   |
| Total                                                                                           |   | $      | 1,814,716 |   |   | $      | 1,714,631 |   |   | $ | 2,098,694 |   |
| Operating income (loss):                                                                                                                                                                                                                                                                                                                                                                                                                            |   |   |      |   |   |   |      |   |   |   |   |   |
| Envelopes, Forms and Labels                                                                     |   | $      | 93,135    |   |   | $      | 77,200    |   |   | $ | (40,979 | ) |
| Commercial Printing                                                                             |   |   | (159,176  | )      |   |   | (6,397    | )      |   |   | (136,828 | ) |
| Corporate                                                                                       |   |   | (37,719   | )      |   |   | (38,615   | )      |   |   | (45,739 | ) |
| Total                                                                                           |   | $      | (103,760  | )      |   | $      | 32,188    |   |   | $ | (223,546 | ) |
| Restructuring, impairment and other charges:                                                                                                                                                                                                                                                                                                                                                                                                        |   |   |      |   |   |   |      |   |   |   |   |   |
| Envelopes, Forms and Labels                                                                     |   | $      | 12,063    |   |   | $      | 17,405    |   |   | $ | 174,178 |   |
| Commercial Printing                                                                             |   |   | 211,042   |   |   |   | 48,744    |   |   |   | 217,568 |   |
| Corporate                                                                                       |   |   | 3,045     |   |   |   | 1,885     |   |   |   | 7,320 |   |
| Total                                                                                           |   | $      | 226,150   |   |   | $      | 68,034    |   |   | $ | 399,066 |   |
| Significant non-cash charges:                                                                                                                                                                                                                                                                                                                                                                                                                       |   |   |      |   |   |   |      |   |   |   |   |   |
| Envelopes, Forms and Labels                                                                     |   | $      | 8,601     |   |   | $      | 4,011     |   |   | $ | 169,916 |   |
| Commercial Printing                                                                             |   |   | 198,647   |   |   |   | 27,919    |   |   |   | 210,172 |   |
| Corporate                                                                                       |   |   | 1,622     |   |   |   | 274       |   |   |   | 1,950 |   |
| Total                                                                                           |   | $      | 208,870   |   |   | $      | 32,204    |   |   | $ | 382,038 |   |
| Depreciation and intangible asset amortization:                                                                                                                                                                                                                                                                                                                                                                                                     |   |   |      |   |   |   |      |   |   |   |   |   |
| Envelopes, Forms and Labels                                                                     |   | $      | 28,697    |   |   | $      | 24,561    |   |   | $ | 25,410 |   |
| Commercial Printing                                                                             |   |   | 35,630    |   |   |   | 39,825    |   |   |   | 47,164 |   |
| Corporate                                                                                       |   |   | 2,469     |   |   |   | 2,017     |   |   |   | 1,435 |   |
| Total                                                                                           |   | $      | 66,796    |   |   | $      | 66,403    |   |   | $ | 74,009 |   |
| Capital expenditures:                                                                                                                                                                                                                                                                                                                                                                                                                               |   |   |      |   |   |   |      |   |   |   |   |   |
| Envelopes, Forms and Labels                                                                     |   | $      | 2,341     |   |   | $      | 4,239     |   |   | $ | 7,181 |   |
| Commercial Printing                                                                             |   |   | 13,020    |   |   |   | 18,150    |   |   |   | 39,819 |   |
| Corporate                                                                                       |   |   | 3,670     |   |   |   | 2,838     |   |   |   | 2,243 |   |
| Total                                                                                           |   | $      | 19,031    |   |   | $      | 25,227    |   |   | $ | 49,243 |   |
| Net sales by product line:                                                                                                                                                                                                                                                                                                                                                                                                                          |   |   |      |   |   |   |      |   |   |   |   |   |
| Envelopes                                                                                       |   | $      | 517,173   |   |   | $      | 517,512   |   |   | $ | 651,235 |   |
| Commercial Printing and Packaging                                                                                                                                                                                                                                                                                                                                                                                                                   |   |   | 591,554   |   |   |   | 600,294   |   |   |   | 815,388 |   |
| Journals and Periodicals                                                                        |   |   | 255,536   |   |   |   | 293,891   |   |   |   | 365,490 |   |
| Labels and Business Forms                                                                       |   |   | 450,453   |   |   |   | 302,934   |   |   |   | 266,581 |   |
| Total                                                                                           |   | $      | 1,814,716 |   |   | $      | 1,714,631 |   |   | $ | 2,098,694 |   |
| Intercompany sales:                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |   |      |   |   |   |      |   |   |   |   |   |
| Envelopes, Forms and Labels to Commercial Printing                                                                                                                                                                                                                                                                                                                                                                                                  |   | $      | 4,789     |   |   | $      | 4,350     |   |   | $ | 6,415 |   |
| Commercial Printing to Envelopes, Forms and Labels                                                                                                                                                                                                                                                                                                                                                                                                  |   |   | 6,553     |   |   |   | 1,865     |   |   |   | 3,655 |   |
| Total                                                                                           |   | $      | 11,342    |   |   | $      | 6,215     |   |   | $ | 10,070 |   |

----

|                                                                                                                                                                                                                                                                                                                                                                                                                        |   |      |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|-----------|
|                                                                                                                                                                                                                                                                                                                                                                                                                        | 2010   |      | 2009 |   |
| Identifiable assets:                                                                                                                                                                                                                                                                                                                                                                                                        |   |      |   |   |   |   |
| Envelopes, Forms and Labels                                                                 | $      | 665,079   |   | $ | 689,516 |   |
| Commercial Printing                                                                         |   | 627,982   |   |   | 776,637 |   |
| Corporate                                                                                   |   | 104,669   |   |   | 59,620 |   |
| Total                                                                                       | $      | 1,397,730 |   | $ | 1,525,773 |   |

|                                                                                                                                                                                                                                                                                                                                                                      |   | 2010   |      |   | 2009   |   |      | 2008   |   |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------|-----------|--------|--------|--------|-----------|--------|--------|
| Net sales:                                                                                                                                                                                                                                                                                                                                                                |   |   |      |   |   |   |      |   |   |
| U.S.                                                               |   | $      | 1,712,019 |   |   | $      | 1,636,112 |   |   | $ | 2,014,412 |   |
| Foreign                                                            |   |   | 102,697   |   |   |   | 78,519    |   |   |   | 84,282 |   |
| Total                                                              |   | $      | 1,814,716 |   |   | $      | 1,714,631 |   |   | $ | 2,098,694 |   |

|                                                                                                                                                                                                                                                                                                                                                          |   | 2010   |    | 2009   |   |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------|---------|--------|--------|
| Long-lived assets (property, plant and equipment, goodwill and intangible assets):                                                                                                                                                                                                                                                                            |   |   |    |   |   |
| U.S.                                                             |   | $      | 763,062 |   | $      | 980,452 |   |
| Foreign                                                          |   |   | 40,444  |   |   | 22,601 |   |
| Total                                                            |   | $      | 803,506 |   | $      | 1,003,053 |   |

----

|                                                                               |   | Parent  |     |   | Subsidiary |   |      | Guarantor    |   |   | Non-Guarantor |   |   |         |          |   |         |   |
|------------------------------------------------------------------------------------|--------|---------|----------|--------|------------|--------|-----------|--------------|--------|--------|---------------|--------|--------|--------------|---------------|--------|--------------|--------|
|                                                                               |   | Company |     |   | Issuer     |   |      | Subsidiaries |   |   | Subsidiaries  |   |   | Eliminations |          |   | Consolidated |   |
|                                                                               |   |    |     |   |       |   |      |         |   |   |          |   |   |         |          |   |         |   |
| Assets                                                                             |   |    |     |   |       |   |      |         |   |   |          |   |   |         |          |   |         |   |
| Current assets:                                                                    |   |    |     |   |       |   |      |         |   |   |          |   |   |         |          |   |         |   |
|     Cash and cash equivalents                                  |   | $       | —  |   |       | $      | 46,882    |         |   | $      | 1,010         |   |   | $            | 1,864         |   |         | $      | — |   |   | $ | 49,756 |   |
|     Accounts receivable, net                                   |   |    | —  |   |       |   | 104,071   |         |   |   | 154,340       |   |   |         | 4,953         |   |         |   | — |   |   |   | 263,364 |   |
|     Inventories                                                |   |    | —  |   |       |   | 68,080    |         |   |   | 79,676        |   |   |         | 1,395         |   |         |   | — |   |   |   | 149,151 |   |
|     Notes receivable from subsidiaries                         |   |    | —  |   |       |   | 46,438    |         |   |   | —       |   |   |         | —       |   |         |   | (46,438 | ) |   |   | — |   |
|     Prepaid and other current assets                           |   |    | —  |   |       |   | 52,088    |         |   |   | 9,580         |   |   |         | 4,467         |   |         |   | — |   |   |   | 66,135 |   |
|         Total current assets               |   |    | —  |   |       |   | 317,559   |         |   |   | 244,606       |   |   |         | 12,679        |   |         |   | (46,438 | ) |   |   | 528,406 |   |
|                                                                               |   |    |     |   |       |   |      |         |   |   |          |   |   |         |          |   |         |   |   |   |   |   |   |   |
| Investment in subsidiaries                                                         |   |    | (341,331 | )      |       |   | 1,514,329 |         |   |   | 11,239        |   |   |         | 6,725         |   |         |   | (1,190,962 | ) |   |   | — |   |
| Property, plant and equipment, net                                                 |   |    | —  |   |       |   | 109,945   |         |   |   | 236,696       |   |   |         | 1,280         |   |         |   | — |   |   |   | 347,921 |   |
| Goodwill                                                                           |   |    | —  |   |       |   | 29,244    |         |   |   | 172,897       |   |   |         | 7,020         |   |         |   | — |   |   |   | 209,161 |   |
| Other intangible assets, net                                                       |   |    | —  |   |       |   | 7,188     |         |   |   | 236,054       |   |   |         | 3,182         |   |         |   | — |   |   |   | 246,424 |   |
| Other assets, net                                                                  |   |    | —  |   |       |   | 104,781   |         |   |   | (41,146       | )      |   |         | 2,183         |   |         |   | — |   |   |   | 65,818 |   |
|     Total assets                                               |   | $       | (341,331 | )      |       | $      | 2,083,046 |         |   | $      | 860,346       |   |   | $            | 33,069        |   |         | $      | (1,237,400 | ) |   | $ | 1,397,730 |   |
|                                                                               |   |    |     |   |       |   |      |         |   |   |          |   |   |         |          |   |         |   |   |   |   |   |   |   |
| Liabilities and Shareholders’ (Deficit) Equity                               |   |    |     |   |       |   |      |         |   |   |          |   |   |         |          |   |         |   |   |   |   |   |   |   |
| Current liabilities:                                                               |   |    |     |   |       |   |      |         |   |   |          |   |   |         |          |   |         |   |   |   |   |   |   |   |
|     Current maturities of long-term debt                       |   | $       | —  |   |       | $      | 3,896     |         |   | $      | 6,202         |   |   | $            |  — |   |         | $      | — |   |   | $ | 10,098 |   |
|     Accounts payable                                           |   |    | —  |   |       |   | 82,974    |         |   |   | 82,713        |   |   |         | 781           |   |         |   | — |   |   |   | 166,468 |   |
|     Accrued compensation and related liabilities               |   |    | —  |   |       |   | 17,385    |         |   |   | 12,915        |   |   |         | 372           |   |         |   | — |   |   |   | 30,672 |   |
|     Other current liabilities                                  |   |    | —  |   |       |   | 71,158    |         |   |   | 25,015        |   |   |         | 2,298         |   |         |   | — |   |   |   | 98,471 |   |
|     Intercompany payable (receivable)                          |   |    | —  |   |       |   | 846,814   |         |   |   | (848,968      | )      |   |         | 2,154         |   |         |   | — |   |   |   | — |   |
|     Notes payable to issuer                                    |   |    | —  |   |       |   | —   |         |   |   | 36,938        |   |   |         | 9,500         |   |         |   | (46,438 | ) |   |   | — |   |
|         Total current liabilities          |   |    | —  |   |       |   | 1,022,227 |         |   |   | (685,185      | )      |   |         | 15,105        |   |         |   | (46,438 | ) |   |   | 305,709 |   |
|                                                                               |   |    |     |   |       |   |      |         |   |   |          |   |   |         |          |   |         |   |   |   |   |   |   |   |
| Long-term debt                                                                     |   |    | —  |   |       |   | 1,268,816 |         |   |   | 15,089        |   |   |         | —       |   |         |   | — |   |   |   | 1,283,905 |   |
| Other liabilities                                                                  |   |    | —  |   |       |   | 133,334   |         |   |   | 16,113        |   |   |         | —       |   |         |   | — |   |   |   | 149,447 |   |
| Shareholders’ (deficit) equity                                               |   |    | (341,331 | )      |       |   | (341,331  | )            |   |   | 1,514,329     |   |   |         | 17,964        |   |         |   | (1,190,962 | ) |   |   | (341,331 | ) |
|     Total liabilities and shareholders’ (deficit) equity |   | $       | (341,331 | )      |       | $      | 2,083,046 |         |   | $      | 860,346       |   |   | $            | 33,069        |   |         | $      | (1,237,400 | ) |   | $ | 1,397,730 |   |

----

|                                                                                                                         |   |        Parent  |     |   |        Subsidiary |   |     |        Guarantor    |   |   |        Non-Guarantor |   |   |                                                    |    |   |                                              |   |
|------------------------------------------------------------------------------------------------------------------------------|--------|----------------------------------------------|----------|--------|-------------------------------------------------|--------|----------|---------------------------------------------------|--------|--------|---------------------------------------------------------|--------|--------|---------------------------------------------------------|---------|--------|---------------------------------------------------|--------|
|                                                                                                                         |   |        Company |     |   |        Issuer     |   |     |        Subsidiaries |   |   |        Subsidiaries       |   |   |         Eliminations |    |   |        Consolidated |   |
|                                                                                                                         |   |                                         |     |   |                                            |   |     |                                              |   |   |                                                    |   |   |                                                    |    |   |                                              |   |
| Net sales                                                                                                                    |   | $                                            | —  |   |                                            | $      | 714,582  |                                              |   | $      | 1,073,796                                               |   |   | $                                                       | 26,338  |   |                                              | $      | — |   |   | $ | 1,814,716 |   |
| Cost of sales                                                                                                                |   |                                         | —  |   |                                            |   | 595,739  |                                              |   |   | 855,003                                                 |   |   |                                                    | 17,873  |   |                                              |   | — |   |   |   | 1,468,615 |   |
| Selling, general and administrative expenses                                                                                 |   |                                         | —  |   |                                            |   | 109,296  |                                              |   |   | 101,200                                                 |   |   |                                                    | 1,674   |   |                                              |   | — |   |   |   | 212,170 |   |
| Amortization of intangible assets                                                                                            |   |                                         | —  |   |                                            |   | 421      |                                              |   |   | 10,852                                                  |   |   |                                                    | 268     |   |                                              |   | — |   |   |   | 11,541 |   |
| Restructuring and impairment charges                                                                                         |   |                                         | —  |   |                                            |   | 25,415   |                                              |   |   | 200,735                                                 |   |   |                                                    | — |   |                                              |   | — |   |   |   | 226,150 |   |
|   Operating income (loss)                                                                                          |   |                                         | —  |   |                                            |   | (16,289  | )                                                 |   |   | (93,994                                                 | )      |   |                                                    | 6,523   |   |                                              |   | — |   |   |   | (103,760 | ) |
| Interest expense, net                                                                                                        |   |                                         | —  |   |                                            |   | 119,965  |                                              |   |   | 1,161                                                   |   |   |                                                    | (89     | )      |                                              |   | — |   |   |   | 121,037 |   |
| Intercompany interest expense (income)                                                                                       |   |                                         | —  |   |                                            |   | (1,116   | )                                                 |   |   | 990                                                     |   |   |                                                    | 126     |   |                                              |   | — |   |   |   | — |   |
| (Gain) loss on early extinguishment of debt                                                                                  |   |                                         | —  |   |                                            |   | 9,592    |                                              |   |   | —                                                 |   |   |                                                    | — |   |                                              |   | — |   |   |   | 9,592 |   |
| Other (income) expense, net                                                                                                  |   |                                         | —  |   |                                            |   | 1,137    |                                              |   |   | 923                                                     |   |   |                                                    | 267     |   |                                              |   | — |   |   |   | 2,327 |   |
|   Income (loss) from continuing operations before income taxes and equity in income of unconsolidated subsidiaries |   |                                         | —  |   |                                            |   | (145,867 | )                                                 |   |   | (97,068                                                 | )      |   |                                                    | 6,219   |   |                                              |   | — |   |   |   | (236,716 | ) |
| Income tax expense (benefit)                                                                                                 |   |                                         | —  |   |                                            |   | (24,566  | )                                                 |   |   | (23,488                                                 | )      |   |                                                    | 393     |   |                                              |   | — |   |   |   | (47,661 | ) |
|   Income (loss) from continuing operations before equity in income of unconsolidated subsidiaries                  |   |                                         | —  |   |                                            |   | (121,301 | )                                                 |   |   | (73,580                                                 | )      |   |                                                    | 5,826   |   |                                              |   | — |   |   |   | (189,055 | ) |
| Equity in income of unconsolidated subsidiaries                                                                              |   |                                         | (186,377 | )      |                                            |   | (67,754  | )                                                 |   |   | 5,826                                                   |   |   |                                                    | — |   |                                              |   | 248,305 |   |   |   | — |   |
| Income (loss) from continuing operations                                                                                     |   |                                         | (186,377 | )      |                                            |   | (189,055 | )                                                 |   |   | (67,754                                                 | )      |   |                                                    | 5,826   |   |                                              |   | 248,305 |   |   |   | (189,055 | ) |
| Income from discontinued operations, net of taxes                                                                            |   |                                         | —  |   |                                            |   | 2,678    |                                              |   |   | —                                                 |   |   |                                                    | — |   |                                              |   | — |   |   |   | 2,678 |   |
| Net income (loss)                                                                                                            |   | $                                            | (186,377 | )      |                                            | $      | (186,377 | )                                                 |   | $      | (67,754                                                 | )      |   | $                                                       | 5,826   |   |                                              | $      | 248,305 |   |   | $ | (186,377 | ) |

----

|                                                                                                 |   | Parent  |    |   | Subsidiary |   |     | Guarantor    |   |   | Non-Guarantor |   |   |         |    |   |         |   |
|------------------------------------------------------------------------------------------------------|--------|---------|---------|--------|------------|--------|----------|--------------|--------|--------|---------------|--------|--------|--------------|---------|--------|--------------|--------|
|                                                                                                 |   | Company |    |   | Issuer     |   |     | Subsidiaries |   |   | Subsidiaries  |   |   | Eliminations |    |   | Consolidated |   |
| Cash flows from operating activities:                                                                |   |    |    |   |       |   |     |         |   |   |          |   |   |         |    |   |         |   |
|         Net cash provided by (used in) operating activities  |   | $       | 10,853  |   |       | $      | (97,639  | )            |   | $      | 138,510       |   |   | $            | 6,862   |   |         | $      | — |   |   | $ | 58,586 |   |
| Cash flows from investing activities:                                                                |   |    |    |   |       |   |     |         |   |   |          |   |   |         |    |   |         |   |   |   |   |   |   |   |
|       Cost of business acquisitions, net of cash acquired              |   |    | — |   |       |   | (27,373  | )            |   |   | —       |   |   |         | (13,172 | )      |         |   | — |   |   |   | (40,545 | ) |
|       Capital expenditures                                             |   |    | — |   |       |   | (10,257  | )            |   |   | (8,774        | )      |   |         | — |   |         |   | — |   |   |   | (19,031 | ) |
|       Proceeds from sale of property, plant and equipment              |   |    | — |   |       |   | 2,297    |         |   |   | 1,242         |   |   |         | — |   |         |   | — |   |   |   | 3,539 |   |
|       Intercompany note                                                |   |    | — |   |       |   | (9,500   | )            |   |   | —       |   |   |         | — |   |         |   | 9,500 |   |   |   | — |   |
|         Net cash (used in) provided by investing activities  |   |    | — |   |       |   | (44,833  | )            |   |   | (7,532        | )      |   |         | (13,172 | )      |         |   | 9,500 |   |   |   | (56,037 | ) |
| Cash flows from financing activities:                                                                |   |    |    |   |       |   |     |         |   |   |          |   |   |         |    |   |         |   |   |   |   |   |   |   |
|       Proceeds from issuance of 87⁄8% senior secured lien notes    |   |    | — |   |       |   | 397,204  |         |   |   | —       |   |   |         | — |   |         |   | — |   |   |   | 397,204 |   |
|       Proceeds from issuance of Term Loan B                            |   |    | — |   |       |   | 376,200  |         |   |   | —       |   |   |         | — |   |         |   | — |   |   |   | 376,200 |   |
|       Proceeds from exercise of stock options                          |   |    | 1,030   |   |       |   | —  |         |   |   | —       |   |   |         | — |   |         |   | — |   |   |   | 1,030 |   |
|       Repayment of Term Loans                                          |   |    | — |   |       |   | (683,306 | )            |   |   | —       |   |   |         | — |   |         |   | — |   |   |   | (683,306 | ) |
|       Payment of refinancing fees and expenses and debt issuance costs |   |    | — |   |       |   | (23,154  | )            |   |   | —       |   |   |         | — |   |         |   | — |   |   |   | (23,154 | ) |
|       Repayment under revolving credit facility, net                   |   |    | — |   |       |   | (22,500  | )            |   |   | —       |   |   |         | — |   |         |   | — |   |   |   | (22,500 | ) |
|       Repayments of other long-term debt                               |   |    | — |   |       |   | (80      | )            |   |   | (7,555        | )      |   |         | — |   |         |   | — |   |   |   | (7,635 | ) |
|       Purchase and retirement of common stock upon vesting of RSUs     |   |    | (1,597  | )      |       |   | —  |         |   |   | —       |   |   |         | — |   |         |   | — |   |   |   | (1,597 | ) |
|       Intercompany note                                                |   |    | — |   |       |   | —  |         |   |   | —       |   |   |         | 9,500   |   |         |   | (9,500 | ) |   |   | — |   |
|       Intercompany advances                                            |   |    | (10,286 | )      |       |   | 136,019  |         |   |   | (123,134      | )      |   |         | (2,599  | )      |         |   | — |   |   |   | — |   |
|         Net cash provided by (used in) financing activities  |   |    | (10,853 | )      |       |   | 180,383  |         |   |   | (130,689      | )      |   |         | 6,901   |   |         |   | (9,500 | ) |   |   | 36,242 |   |
| Effect of exchange rate changes on cash and cash equivalents                                         |   |    | — |   |       |   | —  |         |   |   | (43           | )      |   |         | 212     |   |         |   | — |   |   |   | 169 |   |
|         Net increase in cash and cash equivalents            |   |    | — |   |       |   | 37,911   |         |   |   | 246           |   |   |         | 803     |   |         |   | — |   |   |   | 38,960 |   |
| Cash and cash equivalents at beginning of year                                                       |   |    | — |   |       |   | 8,971    |         |   |   | 764           |   |   |         | 1,061   |   |         |   | — |   |   |   | 10,796 |   |
| Cash and cash equivalents at end of year                                                             |   | $       | — |   |       | $      | 46,882   |         |   | $      | 1,010         |   |   | $            | 1,864   |   |         | $      | — |   |   | $ | 49,756 |   |

----

|                                                                               |   | Parent  |     |   | Subsidiary |   |      | Guarantor    |   |   | Non-Guarantor |   |   |         |          |    |         |   |
|------------------------------------------------------------------------------------|--------|---------|----------|--------|------------|--------|-----------|--------------|--------|--------|---------------|--------|--------|--------------|---------------|---------|--------------|--------|
|                                                                               |   | Company |     |   | Issuer     |   |      | Subsidiaries |   |   | Subsidiaries  |   |   | Eliminations |          |    | Consolidated |   |
|                                                                               |   |    |     |   |       |   |      |         |   |   |          |   |   |         |          |    |         |   |
| Assets                                                                             |   |    |     |   |       |   |      |         |   |   |          |   |   |         |          |    |         |   |
| Current assets:                                                                    |   |    |     |   |       |   |      |         |   |   |          |   |   |         |          |    |         |   |
|     Cash and cash equivalents                                  |   | $       | —  |   |       | $      | 8,971     |         |   | $      | 764           |   |   | $            | 1,061         |    |         | $      | — |   |   | $ | 10,796 |   |
|     Accounts receivable, net                                   |   |    | —  |   |       |   | 111,687   |         |   |   | 151,046       |   |   |         | 5,830         |    |         |   | — |   |   |   | 268,563 |   |
|     Inventories                                                |   |    | —  |   |       |   | 70,252    |         |   |   | 73,715        |   |   |         | 1,261         |    |         |   | — |   |   |   | 145,228 |   |
|     Notes receivable from subsidiaries                         |   |    | —  |   |       |   | 36,938    |         |   |   | —       |   |   |         | —       |    |         |   | (36,938 | ) |   |   | — |   |
|     Prepaid and other current assets                           |   |    | —  |   |       |   | 50,319    |         |   |   | 13,501        |   |   |         | 1,023         |    |         |   | — |   |   |   | 64,843 |   |
|         Total current assets               |   |    | —  |   |       |   | 278,167   |         |   |   | 239,026       |   |   |         | 9,175         |    |         |   | (36,938 | ) |   |   | 489,430 |   |
|                                                                               |   |    |     |   |       |   |      |         |   |   |          |   |   |         |          |    |         |   |   |   |   |   |   |   |
| Investment in subsidiaries                                                         |   |    | (176,510 | )      |       |   | 1,537,082 |         |   |   | 4,225         |   |   |         | 6,725         |    |         |   | (1,371,522 | ) |   |   | — |   |
| Property, plant and equipment, net                                                 |   |    | —  |   |       |   | 125,694   |         |   |   | 261,765       |   |   |         | 420           |    |         |   | — |   |   |   | 387,879 |   |
| Goodwill                                                                           |   |    | —  |   |       |   | 29,243    |         |   |   | 290,513       |   |   |         | —       |    |         |   | — |   |   |   | 319,756 |   |
| Other intangible assets, net                                                       |   |    | —  |   |       |   | 7,590     |         |   |   | 287,828       |   |   |         | —       |    |         |   | — |   |   |   | 295,418 |   |
| Other assets, net                                                                  |   |    | —  |   |       |   | 26,664    |         |   |   | 6,278         |   |   |         | 348           |    |         |   | — |   |   |   | 33,290 |   |
|     Total assets                                               |   | $       | (176,510 | )      |       | $      | 2,004,440 |         |   | $      | 1,089,635     |   |   | $            | 16,668        |    |         | $      | (1,408,460 | ) |   | $ | 1,525,773 |   |
|                                                                               |   |    |     |   |       |   |      |         |   |   |          |   |   |         |          |    |         |   |   |   |   |   |   |   |
| Liabilities and Shareholders’ (Deficit) Equity                               |   |    |     |   |       |   |      |         |   |   |          |   |   |         |          |    |         |   |   |   |   |   |   |   |
| Current liabilities:                                                               |   |    |     |   |       |   |      |         |   |   |          |   |   |         |          |    |         |   |   |   |   |   |   |   |
|     Current maturities of long-term debt                       |   | $       | —  |   |       | $      | 7,610     |         |   | $      | 7,447         |   |   | $            |  — |    |         | $      | — |   |   | $ | 15,057 |   |
|     Accounts payable                                           |   |    | —  |   |       |   | 97,442    |         |   |   | 84,657        |   |   |         | 1,841         |    |         |   | — |   |   |   | 183,940 |   |
|     Accrued compensation and related liabilities               |   |    | —  |   |       |   | 15,670    |         |   |   | 14,171        |   |   |         | —       |    |         |   | — |   |   |   | 29,841 |   |
|     Other current liabilities                                  |   |    | —  |   |       |   | 76,919    |         |   |   | 20,357        |   |   |         | 803           |    |         |   | — |   |   |   | 98,079 |   |
|     Intercompany payable (receivable)                          |   |    | —  |   |       |   | 781,625   |         |   |   | (786,378      | )      |   |         | 4,753         |    |         |   | — |   |   |   | — |   |
|     Notes payable to issuer                                    |   |    | —  |   |       |   | —   |         |   |   | 36,938        |   |   |         | —       |    |         |   | (36,938 | ) |   |   | — |   |
|         Total current liabilities          |   |    | —  |   |       |   | 979,266   |         |   |   | (622,808      | )      |   |         | 7,397         |    |         |   | (36,938 | ) |   |   | 326,917 |   |
|                                                                               |   |    |     |   |       |   |      |         |   |   |          |   |   |         |          |    |         |   |   |   |   |   |   |   |
| Long-term debt                                                                     |   |    | —  |   |       |   | 1,197,461 |         |   |   | 21,399        |   |   |         | —       |    |         |   | — |   |   |   | 1,218,860 |   |
| Other liabilities                                                                  |   |    | —  |   |       |   | 4,223     |         |   |   | 153,962       |   |   |         | (1,679        | )  |         |   | — |   |   |   | 156,506 |   |
| Shareholders’ (deficit) equity                                               |   |    | (176,510 | )      |       |   | (176,510  | )            |   |   | 1,537,082     |   |   |         | 10,950        |    |         |   | (1,371,522 | ) |   |   | (176,510 | ) |
|     Total liabilities and shareholders’ (deficit) equity |   | $       | (176,510 | )      |       | $      | 2,004,440 |         |   | $      | 1,089,635     |   |   | $            | 16,668        |    |         | $      | (1,408,460 | ) |   | $ | 1,525,773 |   |

----

|                                                                                                                         |   | Parent  |    |   |        Subsidiary |   |     |        Guarantor    |   |   |        Non-Guarantor |   |   |                                              |    |   |                                              |   |
|------------------------------------------------------------------------------------------------------------------------------|--------|---------|---------|--------|-------------------------------------------------|--------|----------|---------------------------------------------------|--------|--------|----------------------------------------------------|--------|--------|---------------------------------------------------|---------|--------|---------------------------------------------------|--------|
|                                                                                                                         |   | Company |    |   |        Issuer     |   |     |        Subsidiaries |   |   |        Subsidiaries  |   |   |        Eliminations |    |   |        Consolidated |   |
|                                                                                                                         |   |    |    |   |                                            |   |     |                                              |   |   |                                               |   |   |                                              |    |   |                                              |   |
| Net sales                                                                                                                    |   | $       | — |   |                                            | $      | 745,381  |                                              |   | $      | 949,974                                            |   |   | $                                                 | 19,276  |   |                                              | $      | — |   |   | $ | 1,714,631 |   |
| Cost of sales                                                                                                                |   |    | — |   |                                            |   | 629,246  |                                              |   |   | 753,096                                            |   |   |                                              | 12,436  |   |                                              |   | — |   |   |   | 1,394,778 |   |
| Selling, general and administrative expenses                                                                                 |   |    | — |   |                                            |   | 118,328  |                                              |   |   | 90,825                                             |   |   |                                              | 425     |   |                                              |   | — |   |   |   | 209,578 |   |
| Amortization of intangible assets                                                                                            |   |    | — |   |                                            |   | 425      |                                              |   |   | 9,628                                              |   |   |                                              | — |   |                                              |   | — |   |   |   | 10,053 |   |
| Restructuring and impairment charges                                                                                         |   |    | — |   |                                            |   | 43,651   |                                              |   |   | 24,383                                             |   |   |                                              | — |   |                                              |   | — |   |   |   | 68,034 |   |
|   Operating income (loss)                                                                                          |   |    | — |   |                                            |   | (46,269  | )                                                 |   |   | 72,042                                             |   |   |                                              | 6,415   |   |                                              |   | — |   |   |   | 32,188 |   |
| Interest expense, net                                                                                                        |   |    | — |   |                                            |   | 104,585  |                                              |   |   | 1,538                                              |   |   |                                              | (60     | )      |                                              |   | — |   |   |   | 106,063 |   |
| Intercompany interest expense (income)                                                                                       |   |    | — |   |                                            |   | (1,042   | )                                                 |   |   | 1,042                                              |   |   |                                              | — |   |                                              |   | — |   |   |   | — |   |
| (Gain) loss on early extinguishment of debt                                                                                  |   |    | — |   |                                            |   | (16,917  | )                                                 |   |   | —                                            |   |   |                                              | — |   |                                              |   | — |   |   |   | (16,917 | ) |
| Other (income) expense, net                                                                                                  |   |    | — |   |                                            |   | 930      |                                              |   |   | (2,586                                             | )      |   |                                              | 288     |   |                                              |   | — |   |   |   | (1,368 | ) |
|   Income (loss) from continuing operations before income taxes and equity in income of unconsolidated subsidiaries |   |    | — |   |                                            |   | (133,825 | )                                                 |   |   | 72,048                                             |   |   |                                              | 6,187   |   |                                              |   | — |   |   |   | (55,590 | ) |
| Income tax expense (benefit)                                                                                                 |   |    | — |   |                                            |   | 893      |                                              |   |   | (19,431                                            | )      |   |                                              | 2,785   |   |                                              |   | — |   |   |   | (15,753 | ) |
|   Income (loss) from continuing operations before equity in income of unconsolidated subsidiaries                  |   |    | — |   |                                            |   | (134,718 | )                                                 |   |   | 91,479                                             |   |   |                                              | 3,402   |   |                                              |   | — |   |   |   | (39,837 | ) |
| Equity in income of unconsolidated    subsidiaries                                                       |   |    | (30,939 | )      |                                            |   | 94,881   |                                              |   |   | 3,402                                              |   |   |                                              | — |   |                                              |   | (67,344 | ) |   |   | — |   |
|   Income (loss) from continuing operations                                                                         |   |    | (30,939 | )      |                                            |   | (39,837  | )                                                 |   |   | 94,881                                             |   |   |                                              | 3,402   |   |                                              |   | (67,344 | ) |   |   | (39,837 | ) |
| Income from discontinued operations, net of taxes                                                                            |   |    | — |   |                                            |   | 8,898    |                                              |   |   | —                                            |   |   |                                              | — |   |                                              |   | — |   |   |   | 8,898 |   |
| Net income (loss)                                                                                                            |   | $       | (30,939 | )      |                                            | $      | (30,939  | )                                                 |   | $      | 94,881                                             |   |   | $                                                 | 3,402   |   |                                              | $      | (67,344 | ) |   | $ | (30,939 | ) |

----

|                                                                                                 |   | Parent  |    | Subsidiary |   | Guarantor    |   | Non-Guarantor |     |         |   |         |   |
|------------------------------------------------------------------------------------------------------|--------|---------|---------|------------|--------|--------------|--------|---------------|----------|--------------|--------|--------------|--------|
|                                                                                                 |   | Company |    | Issuer     |   | Subsidiaries |   | Subsidiaries  |     | Eliminations |   | Consolidated |   |
| Cash flows from operating activities:                                                                |   |    |    |       |   |         |   |          |     |         |   |         |   |
|         Net cash provided by (used in) operating activities  |   | $       | 14,274  |       | $      | (79,440      | )      | $             | 134,516  |         | $      | 2,702        |   | $ | — |   | $ | 72,052 |   |
| Cash flows from investing activities:                                                                |   |    |    |       |   |         |   |          |     |         |   |         |   |   |   |   |   |   |   |
|       Capital expenditures                                             |   |    | — |       |   | (8,863       | )      |          | (16,364  | )            |   | —      |   |   | — |   |   | (25,227 | ) |
|       Cost of business acquisitions, net of cash acquired              |   |    | — |       |   | (3,189       | )      |          | —  |         |   | —      |   |   | — |   |   | (3,189 | ) |
|       Intercompany note                                                |   |    | — |       |   | 2,257        |   |          | —  |         |   | —      |   |   | (2,257 | ) |   | — |   |
|       Investment in guarantor subsidiary preferred shares              |   |    | — |       |   | —      |   |          | —  |         |   | (6,725       | )      |   | 6,725 |   |   | — |   |
|       Proceeds from sale of property, plant and equipment              |   |    | — |       |   | 13,041       |   |          | 1,578    |         |   | —      |   |   | — |   |   | 14,619 |   |
|       Proceeds from sale of investment                                 |   |    | — |       |   | —      |   |          | 4,032    |         |   | —      |   |   | — |   |   | 4,032 |   |
|         Net cash (used in) provided by investing activities  |   |    | — |       |   | 3,246        |   |          | (10,754  | )            |   | (6,725       | )      |   | 4,468 |   |   | (9,765 | ) |
| Cash flows from financing activities:                                                                |   |    |    |       |   |         |   |          |     |         |   |         |   |   |   |   |   |   |   |
|       Repayment of term loans                                          |   |    | — |       |   | (24,594      | )      |          | —  |         |   | —      |   |   | — |   |   | (24,594 | ) |
|       Repayment of 83⁄8% senior subordinated notes                 |   |    | — |       |   | (23,024      | )      |          | —  |         |   | —      |   |   | — |   |   | (23,024 | ) |
|       Repayments of other long-term debt                               |   |    | — |       |   | (385         | )      |          | (11,793  | )            |   | —      |   |   | — |   |   | (12,178 | ) |
|       Payment of amendment and debt issuance costs                     |   |    | — |       |   | (7,296       | )      |          | —  |         |   | —      |   |   | — |   |   | (7,296 | ) |
|       Repayment of 77⁄8% senior subordinated notes                 |   |    | — |       |   | (4,295       | )      |          | —  |         |   | —      |   |   | — |   |   | (4,295 | ) |
|       Repayment of 101⁄2% senior notes                              |   |    | — |       |   | (3,250       | )      |          | —  |         |   | —      |   |   | — |   |   | (3,250 | ) |
|       Purchase and retirement of common stock upon vesting of RSUs     |   |    | (2,050  | )          |   | —      |   |          | —  |         |   | —      |   |   | — |   |   | (2,050 | ) |
|       Payment of fees on repurchase and retirement of debt             |   |    | — |       |   | (94          | )      |          | —  |         |   | —      |   |   | — |   |   | (94 | ) |
|       Borrowings under revolving credit facility, net                  |   |    | — |       |   | 14,500       |   |          | —  |         |   | —      |   |   | — |   |   | 14,500 |   |
|       Proceeds from exercise of stock options                          |   |    | 539     |       |   | —      |   |          | —  |         |   | —      |   |   | — |   |   | 539 |   |
|       Proceeds from issuance of preferred shares                       |   |    | — |       |   | —      |   |          | 6,725    |         |   | —      |   |   | (6,725 | ) |   | — |   |
|       Intercompany note                                                |   |    | — |       |   | —      |   |          | (2,257   | )            |   | —      |   |   | 2,257 |   |   | — |   |
|       Intercompany advances                                            |   |    | (12,763 | )          |   | 128,888      |   |          | (116,427 | )            |   | 302          |   |   | — |   |   | — |   |
|         Net cash (used in) provided by financing activities  |   |    | (14,274 | )          |   | 80,450       |   |          | (123,752 | )            |   | 302          |   |   | (4,468 | ) |   | (61,742 | ) |
| Effect of exchange rate changes on cash and cash equivalents                                         |   |    | — |       |   | —      |   |          | (299     | )            |   | 106          |   |   | — |   |   | (193 | ) |
|         Net increase (decrease) in cash and cash equivalents |   |    | — |       |   | 4,256        |   |          | (289     | )            |   | (3,615       | )      |   | — |   |   | 352 |   |
| Cash and cash equivalents at beginning of year                                                       |   |    | — |       |   | 4,715        |   |          | 1,053    |         |   | 4,676        |   |   | — |   |   | 10,444 |   |
| Cash and cash equivalents at end of year                                                             |   | $       | — |       | $      | 8,971        |   | $             | 764      |         | $      | 1,061        |   | $ | — |   | $ | 10,796 |   |

----

|                                                                                                                         |   |        Parent  |     |   |        Subsidiary |   |     |        Guarantor    |   |   |        Non-Guarantor |   |   |                                              |    |   |                                              |   |
|------------------------------------------------------------------------------------------------------------------------------|--------|----------------------------------------------|----------|--------|-------------------------------------------------|--------|----------|---------------------------------------------------|--------|--------|----------------------------------------------------|--------|--------|---------------------------------------------------|---------|--------|---------------------------------------------------|--------|
|                                                                                                                         |   |        Company |     |   |        Issuer     |   |     |        Subsidiaries |   |   |        Subsidiaries  |   |   |        Eliminations |    |   |        Consolidated |   |
|                                                                                                                         |   |                                         |     |   |                                            |   |     |                                              |   |   |                                               |   |   |                                              |    |   |                                              |   |
| Net sales                                                                                                                    |   | $                                            | —  |   |                                            | $      | 993,403  |                                              |   | $      | 1,085,130                                          |   |   | $                                                 | 20,161  |   |                                              | $      | — |   |   | $ | 2,098,694 |   |
| Cost of sales                                                                                                                |   |                                         | —  |   |                                            |   | 809,380  |                                              |   |   | 847,861                                            |   |   |                                              | 13,944  |   |                                              |   | — |   |   |   | 1,671,185 |   |
| Selling, general and administrative expenses                                                                                 |   |                                         | —  |   |                                            |   | 144,490  |                                              |   |   | 97,929                                             |   |   |                                              | 562     |   |                                              |   | — |   |   |   | 242,981 |   |
| Amortization of intangible assets                                                                                            |   |                                         | —  |   |                                            |   | 447      |                                              |   |   | 8,561                                              |   |   |                                              | — |   |                                              |   | — |   |   |   | 9,008 |   |
| Restructuring and impairment charges                                                                                         |   |                                         | —  |   |                                            |   | 167,897  |                                              |   |   | 231,169                                            |   |   |                                              | — |   |                                              |   | — |   |   |   | 399,066 |   |
|   Operating income (loss)                                                                                          |   |                                         | —  |   |                                            |   | (128,811 | )                                                 |   |   | (100,390                                           | )      |   |                                              | 5,655   |   |                                              |   | — |   |   |   | (223,546 | ) |
| Interest expense, net                                                                                                        |   |                                         | —  |   |                                            |   | 105,739  |                                              |   |   | 1,747                                              |   |   |                                              | (165    | )      |                                              |   | — |   |   |   | 107,321 |   |
| Intercompany interest expense (income)                                                                                       |   |                                         | —  |   |                                            |   | (2,320   | )                                                 |   |   | 2,320                                              |   |   |                                              | — |   |                                              |   | — |   |   |   | — |   |
| (Gain) loss on early extinguishment of debt                                                                                  |   |                                         | —  |   |                                            |   | (14,642  | )                                                 |   |   | —                                            |   |   |                                              | — |   |                                              |   | — |   |   |   | (14,642 | ) |
| Other (income) expense, net                                                                                                  |   |                                         | —  |   |                                            |   | 305      |                                              |   |   | (197                                               | )      |   |                                              | (745    | )      |                                              |   | — |   |   |   | (637 | ) |
|   Income (loss) from continuing operations before income taxes and equity in income of unconsolidated subsidiaries |   |                                         | —  |   |                                            |   | (217,893 | )                                                 |   |   | (104,260                                           | )      |   |                                              | 6,565   |   |                                              |   | — |   |   |   | (315,588 | ) |
| Income tax expense (benefit)                                                                                                 |   |                                         | —  |   |                                            |   | (15,549  | )                                                 |   |   | (3,270                                             | )      |   |                                              | 207     |   |                                              |   | — |   |   |   | (18,612 | ) |
|   Income (loss) from continuing operations before equity in income of unconsolidated subsidiaries                  |   |                                         | —  |   |                                            |   | (202,344 | )                                                 |   |   | (100,990                                           | )      |   |                                              | 6,358   |   |                                              |   | — |   |   |   | (296,976 | ) |
| Equity in income of unconsolidated subsidiaries                                                                         |   |                                         | (298,027 | )      |                                            |   | (94,632  | )                                                 |   |   | 6,358                                              |   |   |                                              | — |   |                                              |   | 386,301 |   |   |   | — |   |
|   Income (loss) from continuing operations                                                                         |   |                                         | (298,027 | )      |                                            |   | (296,976 | )                                                 |   |   | (94,632                                            | )      |   |                                              | 6,358   |   |                                              |   | 386,301 |   |   |   | (296,976 | ) |
| Income from discontinued operations, net of taxes                                                                            |   |                                         | —  |   |                                            |   | (1,051   | )                                                 |   |   | —                                            |   |   |                                              | — |   |                                              |   | — |   |   |   | (1,051 | ) |
| Net income (loss)                                                                                                            |   | $                                            | (298,027 | )      |                                            | $      | (298,027 | )                                                 |   | $      | (94,632                                            | )      |   | $                                                 | 6,358   |   |                                              | $      | 386,301 |   |   | $ | (298,027 | ) |

----

|                                                                                                                |   | Parent  |    |   | Subsidiary |   |     | Guarantor    |   |   | Non-Guarantor |   |   |         |    |   |         |   |
|---------------------------------------------------------------------------------------------------------------------|--------|---------|---------|--------|------------|--------|----------|--------------|--------|--------|---------------|--------|--------|--------------|---------|--------|--------------|--------|
|                                                                                                                |   | Company |    |   | Issuer     |   |     | Subsidiaries |   |   | Subsidiaries  |   |   | Eliminations |    |   | Consolidated |   |
| Cash flows from operating activities:                                                                               |   |    |    |   |       |   |     |         |   |   |          |   |   |         |    |   |         |   |
|         Net cash provided by (used in) operating activities                 |   | $       | 18,140  |   |       | $      | (69,095  | )            |   | $      | 258,441       |   |   | $            | 2,362   |   |         | $      | — |   |   | $ | 209,848 |   |
| Cash flows from investing activities:                                                                               |   |    |    |   |       |   |     |         |   |   |          |   |   |         |    |   |         |   |   |   |   |   |   |   |
|       Cost of business acquisitions, net of cash acquired                             |   |    | — |   |       |   | (47,412  | )            |   |   | —       |   |   |         | — |   |         |   | — |   |   |   | (47,412 | ) |
|       Capital expenditures                                                            |   |    | — |   |       |   | (27,368  | )            |   |   | (21,875       | )      |   |         | — |   |         |   | — |   |   |   | (49,243 | ) |
|       Intercompany note                                                               |   |    | — |   |       |   | 913      |         |   |   | —       |   |   |         | — |   |         |   | (913 | ) |   |   | — |   |
|       Acquisition payments                                                            |   |    | — |   |       |   | (3,653   | )            |   |   | —       |   |   |         | — |   |         |   | — |   |   |   | (3,653 | ) |
|       Proceeds from sale of property, plant and equipment                             |   |    | — |   |       |   | 17,944   |         |   |   | 314           |   |   |         | — |   |         |   | — |   |   |   | 18,258 |   |
|         Net cash (used in) provided by  investing activities |   |    | — |   |       |   | (59,576  | )            |   |   | (21,561       | )      |   |         | — |   |         |   | (913 | ) |   |   | (82,050 | ) |
| Cash flows from financing activities:                                                                               |   |    |    |   |       |   |     |         |   |   |          |   |   |         |    |   |         |   |   |   |   |   |   |   |
|       Repayment of senior unsecured loan                                              |   |    | — |   |       |   | (175,000 | )            |   |   | —       |   |   |         | — |   |         |   | — |   |   |   | (175,000 | ) |
|       Repayment under revolving credit facility, net                                  |   |    | — |   |       |   | (83,200  | )            |   |   | —       |   |   |         | — |   |         |   | — |   |   |   | (83,200 | ) |
|       Repayment of 83⁄8% senior subordinated notes                                |   |    | — |   |       |   | (19,567  | )            |   |   | —       |   |   |         | — |   |         |   | — |   |   |   | (19,567 | ) |
|       Repayments of other long-term debt                                              |   |    | — |   |       |   | (1,137   | )            |   |   | (17,796       | )      |   |         | — |   |         |   | — |   |   |   | (18,933 | ) |
|       Repayment of 77⁄8% senior subordinated notes                                |   |    | — |   |       |   | (10,561  | )            |   |   | —       |   |   |         | — |   |         |   | — |   |   |   | (10,561 | ) |
|       Repayments of term loans                                                        |   |    | — |   |       |   | (7,200   | )            |   |   | —       |   |   |         | — |   |         |   | — |   |   |   | (7,200 | ) |
|       Payment of debt issuance costs                                                  |   |    | — |   |       |   | (5,297   | )            |   |   | —       |   |   |         | — |   |         |   | — |   |   |   | (5,297 | ) |
|       Purchase and retirement of common stock upon vesting of RSUs                    |   |    | (1,054  | )      |       |   | —  |         |   |   | —       |   |   |         | — |   |         |   | — |   |   |   | (1,054 | ) |
|       Tax liability from stock-based compensation                                     |   |    | (1,377  | )      |       |   | —  |         |   |   | —       |   |   |         | — |   |         |   | — |   |   |   | (1,377 | ) |
|       Payment of refinancing fees, redemption, premiums and expenses                  |   |    | — |   |       |   | (130     | )            |   |   | —       |   |   |         | — |   |         |   | — |   |   |   | (130 | ) |
|       Proceeds from issuance of 101⁄2% senior notes                                |   |    | — |   |       |   | 175,000  |         |   |   | —       |   |   |         | — |   |         |   | — |   |   |   | 175,000 |   |
|       Proceeds from issuance of other long-term debt                                  |   |    | — |   |       |   | 6,927    |         |   |   | 6,000         |   |   |         | — |   |         |   | — |   |   |   | 12,927 |   |
|       Proceeds from exercise of stock options                                         |   |    | 1,876   |   |       |   | —  |         |   |   | —       |   |   |         | — |   |         |   | — |   |   |   | 1,876 |   |
|       Intercompany note                                                               |   |    | — |   |       |   | —  |         |   |   | (913          | )      |   |         | — |   |         |   | 913 |   |   |   | — |   |
|       Intercompany advances                                                           |   |    | (17,585 | )      |       |   | 240,460  |         |   |   | (224,000      | )      |   |         | 1,125   |   |         |   | — |   |   |   | — |   |
|         Net cash (used in) provided by financing activities                 |   |    | (18,140 | )      |       |   | 120,295  |         |   |   | (236,709      | )      |   |         | 1,125   |   |         |   | 913 |   |   |   | (132,516 | ) |
| Effect of exchange rate changes on cash and cash equivalents of continuing operations                               |   |    | — |   |       |   | —  |         |   |   | —       |   |   |         | (720    | )      |         |   | — |   |   |   | (720 | ) |
|         Net (decrease) increase  in cash and cash equivalents     |   |    | — |   |       |   | (8,376   | )            |   |   | 171           |   |   |         | 2,767   |   |         |   | — |   |   |   | (5,438 | ) |
| Cash and cash equivalents at beginning of year                                                                      |   |    | — |   |       |   | 13,091   |         |   |   | 882           |   |   |         | 1,909   |   |         |   | — |   |   |   | 15,882 |   |
| Cash and cash equivalents at end of year                                                                            |   | $       | — |   |       | $      | 4,715    |         |   | $      | 1,053         |   |   | $            | 4,676   |   |         | $      | — |   |   | $ | 10,444 |   |

----

|                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   | FirstQuarter |    |   | SecondQuarter |   |    | ThirdQuarter |   |   |     | FourthQuarter |   |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------|---------|--------|---------------|--------|---------|--------------|--------|--------|----------|---------------|--------|
| Fiscal Year 2010                                                                                                                                                                                                                                                                                                                                                                                                                                            |   |         |    |   |          |   |    |         |   |   |     |          |   |
| Net sales                                                                                     |   | $            | 453,934 |   |          | $      | 445,264 |         |   | $      | 455,127  |          |   |   | $ | 460,391 |   |
| Operating income (loss)                                                                       |   |         | 12,191  |   |          |   | 19,386  |         |   |   | (156,129 | )             | (2)    |   |   | 20,792 |   |
| Income (loss) from continuing operations                                                                                                                                                                                                                                                                                                                                                                                                                    |   |         | (11,021 | )      |          |   | (8,292  | )            |   |   | (159,989 | )             | (3)    |   |   | (9,753 | ) |
| Income (loss) from discontinued operations, net of taxes                                                                                                                                                                                                                                                                                                                                                                                                    |   |         | (87     | )      |          |   | (35     | )            |   |   | 2,800    |          |   |   |   | — |   |
| Net income (loss)                                                                             |   |         | (11,108 | )      |          |   | (8,327  | )            |   |   | (157,189 | )             | (3)    |   |   | (9,753 | ) |
| Income (loss) per share from continuing operations—                                                                                                                                                                                                                                                                                                                                                                                                   |   |         |    |   |          |   |    |         |   |   |     |          |   |   |   |   |   |
| Basic and diluted(1)                                                                                    |   |         | (0.18   | )      |          |   | (0.13   | )            |   |   | (2.56    | )             |   |   |   | (0.16 | ) |
| Income (loss) per share from discontinued operations—                                                                                                                                                                                                                                                                                                                                                                                                 |   |         |    |   |          |   |    |         |   |   |     |          |   |   |   |   |   |
| Basic and diluted(1)                                                                                    |   |         | — |   |          |   | — |         |   |   | 0.04     |          |   |   |   | — |   |
| Net income (loss) per share—basic and diluted(1)                                                                                                                                                                                                                                                                                                                                                                                                      |   |         | (0.18   | )      |          |   | (0.13   | )            |   |   | (2.52    | )             |   |   |   | (0.16 | ) |

|                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   | FirstQuarter |    |   | SecondQuarter |   |    | ThirdQuarter |   |   | FourthQuarter |   |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------|---------|--------|---------------|--------|---------|--------------|--------|--------|---------------|--------|
| Fiscal Year 2009                                                                                                                                                                                                                                                                                                                                                                                                                                            |   |         |    |   |          |   |    |         |   |   |          |   |
| Net sales                                                                                     |   | $            | 412,100 |   |          | $      | 397,644 |         |   | $      | 448,039       |   |   | $ | 456,848 |   |
| Operating income (loss)                                                                       |   |         | 221     |   |          |   | (5,477  | )            |   |   | 25,002        |   |   |   | 12,442 |   |
| Income (loss) from continuing operations                                                                                                                                                                                                                                                                                                                                                                                                                    |   |         | (4,187  | )      |          |   | (17,841 | )            |   |   | (8,432        | )      |   |   | (9,377 | ) |
| Income (loss) from discontinued operations, net of taxes                                                                                                                                                                                                                                                                                                                                                                                                    |   |         | (124    | )      |          |   | (411    | )            |   |   | 9,505         |   |   |   | (72 | ) |
| Net income (loss)                                                                             |   |         | (4,311  | )      |          |   | (18,252 | )            |   |   | 1,073         |   |   |   | (9,449 | ) |
| Income (loss) per share from continuing operations—                                                                                                                                                                                                                                                                                                                                                                                                   |   |         |    |   |          |   |    |         |   |   |          |   |   |   |   |   |
| Basic and diluted(1)                                                                                    |   |         | (0.08   | )      |          |   | (0.33   | )            |   |   | (0.15         | )      |   |   | (0.15 | ) |
| Income (loss) per share from discontinued operations—                                                                                                                                                                                                                                                                                                                                                                                                 |   |         |    |   |          |   |    |         |   |   |          |   |   |   |   |   |
| Basic and diluted(1)                                                                                    |   |         | — |   |          |   | (0.01   | )            |   |   | 0.17          |   |   |   | — |   |
| Net income (loss) per share—basic and diluted(1)                                                                                                                                                                                                                                                                                                                                                                                                      |   |         | (0.08   | )      |          |   | (0.34   | )            |   |   | 0.02          |   |   |   | (0.15 | ) |

| (1) | The quarterly earnings per share information is computed separately for each period. Therefore, the sum of such quarterly per share amounts may differ from the total year. |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (2) | Includes $181.4 million of pre-tax goodwill and other long-lived asset impairment charges. |
|-----|--------------------------------------------------------------------------------------------|

| (3) | Includes $157.3 million of goodwill and other long-lived asset impairment charges, net of a tax benefit of $24.1 million. |
|-----|---------------------------------------------------------------------------------------------------------------------------|

----

Item 9. 

Item 9A.

----

----

----

Item 9B.

PART III

Item 10.

Item 11.

Item 12.

Item 13. 

Item 14.

PART IV

Item 15. 

----

| ExhibitNumber |   | Description                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
|---------------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|          |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
| 2.1           |   | Stock Purchase Agreement dated as of July 17, 2007 among Cenveo Corporation, Commercial Envelope Manufacturing Co. Inc. and its shareholders—incorporated by reference to Exhibit 2.1 to registrant’s current report on Form 8-K filed July 20, 2007.                                                                                                                                                                                                                |
|          |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
| 3.1           |   | Articles of Incorporation—incorporated by reference to Exhibit 3(i) of the registrant’s quarterly report on Form 10-Q for the quarter ended June 30, 1997, filed August 14, 1997.                                                                                                                                                                                                                                                                                    |
|          |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
| 3.2           |   | Articles of Amendment to the Articles of Incorporation dated May 17, 2004—incorporated by reference to Exhibit 3.2 to registrant’s quarterly report on Form 10-Q for the quarter ended June 30, 2004, filed August 2, 2004.                                                                                                                                                                                                                                          |
|          |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
| 3.3           |   | Amendment to Articles of Incorporation and Certificate of Designations of Series A Junior Participating Preferred Stock of the registrant dated April 20, 2005—incorporated by reference to Exhibit 3.1 to registrant’s current report on Form 8-K filed April 21, 2005.                                                                                                                                                                                             |
|          |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
| 3.4           |   | Bylaws as amended and restated effective February 22, 2007—incorporated by reference to Exhibit 3.2 to registrant’s current report on Form 8-K filed August 30, 2007.                                                                                                                                                                                                                                                                                                |
|          |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
| 4.1           |   | Indenture dated as of February 4, 2004 between Mail-Well I Corporation, the Guarantors named therein and U.S. Bank National Association, as Trustee, and Form of Senior Subordinated Note and Guarantee relating to Mail-Well I Corporation’s 77⁄8% Senior Subordinated Notes due 2013—incorporated by reference to Exhibit 4.5 to registrant’s annual report on Form 10-K for the year ended December 31, 2003, filed February 27, 2004.                  |
|          |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
| 4.2           |   | Supplemental Indenture, dated as of June 21, 2006 among Cenveo Corporation (f/k/a Mail-Well I Corporation), the Guarantors named therein and U.S. Bank National Association, as Trustee, to the Indenture dated as of February 4, 2004 relating to the 77⁄8% Senior Subordinated Notes due 2013—incorporated by reference to Exhibit 4.2 to registrant’s current report on Form 8-K filed June 27, 2006.                                                         |
|          |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
| 4.3           |   | Third Supplemental Indenture, dated as of March 7, 2007 among Cenveo Corporation (f/k/a Mail-Well I Corporation), the Guarantors named therein and U.S. Bank National Association, as Trustee, to the Indenture dated as of February 4, 2004 relating to the 77⁄8% Senior Subordinated Notes due 2013— incorporated by reference to Exhibit 4.7 to registrant’s quarterly report on Form 10-Q for the quarter ended March 31, 2007, filed May 9, 2007.           |
|          |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
| 4.4           |   | Fourth Supplemental Indenture, dated as of July 9, 2007 among Cenveo Corporation (f/k/a Mail-Well I Corporation), the Guarantors named therein and U.S. Bank National Association, as Trustee, to the Indenture dated as of February 4, 2004 relating to the 77⁄8% Senior Subordinated Notes due 2013— incorporated by reference to Exhibit 4.8 to registrant’s quarterly report on Form 10-Q for the quarter ended June 30, 2007, filed August 8, 2007.         |
|          |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
| 4.5           |   | Fifth Supplemental Indenture, dated as of August 30, 2007 among Cenveo Corporation (f/k/a Mail-Well I Corporation), the Guarantors named therein and U.S. Bank National Association, as Trustee, to the Indenture dated as of February 4, 2004 relating to the 77⁄8% Senior Subordinated Notes due 2013—incorporated by reference to Exhibit 4.6 to registrant’s quarterly report on Form 10-Q for the quarter ended September 29, 2007, filed November 8, 2007. |

|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |
|--------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 4.6    |   | Sixth Supplemental Indenture, dated as of April 16, 2008 among Cenveo Corporation (f/k/a Mail-Well I Corporation), the Guarantors named therein and U.S. Bank National Association, as Trustee, to the Indenture dated as of February 4, 2004 relating to the 77⁄8% Senior Subordinated Notes due 2013—incorporated by reference to Exhibit 4.7 to registrant’s quarterly report on Form 10-Q for the quarter ended June 28, 2008.                                  |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |
| 4.7    |   | Seventh Supplemental Indenture, dated as of August 20, 2008 among Cenveo Corporation (f/k/a Mail-Well I Corporation), the Guarantors named therein and U.S. Bank National Association, as Trustee, to the Indenture dated as of February 4, 2004, relating to the 77⁄8% Senior Subordinated Notes due 2013—incorporated by reference to Exhibit 4.8 to registrant’s quarterly report on Form 10-Q for the quarter ended September 27, 2008, filed November 5, 2008. |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |
| 4.8    |   | Eighth Supplemental Indenture, dated as of October 15, 2009 among Cenveo Corporation (f/k/a Mail-Well I Corporation), the Guarantors named therein and U.S. Bank National Association, as Trustee, to the Indenture dated as of February 4, 2004, relating to the 77⁄8% Senior Subordinated Notes due 2013—incorporated by reference to Exhibit 4.1 to registrant’s current report on Form 8-K filed October 16, 2009.                                              |

----

|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
|--------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 4.9*   |   | Ninth Supplemental Indenture, dated as of December 21, 2010 among Cenveo Corporation (f/k/a Mail-Well I Corporation), the Guarantors named therein and U.S. Bank National Association, as Trustee, to the Indenture dated as of February 4, 2004, relating to the 77⁄8% Senior Subordinated Notes due 2013.                                                                                                                                                                                        |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
| 4.10   |   | Indenture, dated as of June 15, 2004, among Cadmus Communications Corporation, the Guarantors named therein and Wachovia Bank, National Association, as Trustee, relating to the 83⁄8% Senior Subordinated Notes due 2014—incorporated by reference to Exhibit 4.9 to Cadmus Communications Corporation’s registration statement on Form S-4 filed August 24, 2004.                                                                                                                    |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
| 4.11   |   | First Supplemental Indenture, dated as of March 1, 2005, to the Indenture dated as of June 15, 2004, among Cadmus Communications Corporation, the Guarantors named therein, Mack Printing, LLC and Wachovia Bank, National Association, as Trustee, relating to the 83⁄8% Senior Subordinated Notes due 2014—incorporated by reference to Exhibit 4.9.1 to Cadmus Communications Corporation’s quarterly report on Form 10-Q for the quarter ended March 31, 2005, filed May 13, 2005. |

|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
|--------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 4.12   |   | Second Supplemental Indenture, dated as of May 19, 2006, to the Indenture dated as of June 15, 2004, among Cadmus Communications Corporation, the Guarantors named therein and U.S. Bank National Association (successor to Wachovia Bank, National Association), as Trustee, relating to the 83⁄8% Senior Subordinated Notes due 2014—incorporated by reference to Exhibit 4.9.2 to Cadmus Communications Corporation’s annual report on Form 10-K for the year ended July 1, 2006, filed September 13, 2006. |

|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
|--------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 4.13   |   | Third Supplemental Indenture, dated as of March 7, 2007, to the Indenture dated as of June 15, 2004, among Cenveo Corporation (as successor to Cadmus Communications Corporation), the Guarantors named therein and U.S. Bank National Association (successor to Wachovia Bank, National Association), as Trustee, relating to the 83⁄8% Senior Subordinated Notes due 2014—incorporated by reference to Exhibit 4.11 to registrant’s quarterly report on Form 10-Q for the quarter ended March 31, 2007, filed May 9, 2007. |

|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
|--------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 4.14   |   | Fourth Supplemental Indenture, dated as of July 9, 2007, to the Indenture dated as of June 15, 2004, among Cenveo Corporation (as successor to Cadmus Communications Corporation), the Guarantors named therein and U.S. Bank National Association (successor to Wachovia Bank, National Association), as Trustee, relating to the 83⁄8% Senior Subordinated Notes due 2014—incorporated by reference to Exhibit 4.13 to registrant’s quarterly report on Form 10-Q for the quarter ended June 30, 2007, filed August 8, 2007. |

|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
|--------|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 4.15   |   | Fifth Supplemental Indenture, dated as of August 30, 2007, to the Indenture dated as of June 15, 2004, among Cenveo Corporation (as successor to Cadmus Communications Corporation), the Guarantors named therein and U.S. Bank National Association (successor to Wachovia Bank, National Association), as Trustee, relating to the 83⁄8% Senior Subordinated Notes due 2014—incorporated by reference to Exhibit 4.13 to registrant’s quarterly report on Form 10-Q for the quarter ended September 29, 2007, filed November 8, 2007. |

----

|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
|--------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 4.16   |   | Sixth Supplemental Indenture, dated as of November 7, 2007, to the Indenture dated as of June 15, 2004, among Cenveo Corporation (as successor to Cadmus Communications Corporation), the Guarantors named therein and U.S. Bank National Association (successor to Wachovia Bank, National Association), as Trustee, relating to the 83⁄8% Senior Subordinated Notes due 2014—incorporated by reference to Exhibit 4.12 to registrant’s annual report on Form 10-K for the year ended December 29, 2007, filed on March 28, 2008.               |
| 4.17   |   | Seventh Supplemental Indenture, dated as of April 16, 2008, to the Indenture dated as of June 15, 2004, among   Cenveo Corporation (as successor to Cadmus Communications Corporation), the Guarantors named therein and U.S. Bank National Association (successor to Wachovia Bank, National Association), as Trustee, relating to the 83⁄8% Senior Subordinated Notes due 2014—incorporated by reference to Exhibit 4.16 to registrant’s quarterly report on Form 10-Q for the quarter ended June 28, 2008, filed on August 7, 2008. |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
| 4.18   |   | Eighth Supplemental Indenture, dated as of August 20, 2008, to the Indenture dated as of June 15, 2004, among Cenveo Corporation (as successor to Cadmus Communications Corporation), the Guarantors named therein and U.S. Bank National Association (successor to Wachovia Bank, National Association), as Trustee, relating to the 83⁄8% Senior Subordinated Notes due 2014—incorporated by reference to Exhibit 4.18 to registrant’s quarterly report on Form 10-Q for the quarter ended September 27, 2008, filed November 5, 2008.              |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
| 4.19   |   | Ninth Supplemental Indenture, dated as of October 15, 2009, to the Indenture dated as of June 15, 2004, among Cenveo Corporation (as successor to Cadmus Communications Corporation), the Guarantors named therein and U.S. Bank National Association (successor to Wachovia Bank, National Association), as Trustee, relating to the 83⁄8% Senior Subordinated Notes due 2014—incorporated by reference to Exhibit 4.2 to registrant’s current report on Form 8-K filed October 16, 2009.                                                            |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
| 4.20*  |   | Tenth Supplemental Indenture, dated as of December 21, 2010, to the Indenture dated as of June 15, 2004, among Cenveo Corporation (as successor to Cadmus Communications Corporation), the Guarantors named therein and U.S. Bank National Association (successor to Wachovia Bank, National Association), as Trustee, relating to the 83⁄8% Senior Subordinated Notes due 2014.                                                                                                                                                                                  |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
| 4.21   |   | Indenture, dated as of June 13, 2008, between Cenveo Corporation and U.S. Bank National Association, as Trustee, relating to the 101⁄2% Notes of Cenveo Corporation—incorporated by reference to Exhibit 4.1 to registrant’s current report on Form 8-K filed June 13, 2008.                                                                                                                                                                                                                                                                           |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
| 4.22   |   | Guarantee by Cenveo, Inc. and the other guarantors named therein relating to the 101⁄2% Notes of Cenveo Corporation—incorporated by reference to Exhibit 4.2 to registrant’s current report on Form 8-K dated (date of earliest event reported) June 9, 2008, filed June 13, 2008.                                                                                                                                                                                                                                                                     |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
| 4.23   |   | First Supplemental Indenture, dated as of August 20, 2008, to the Indenture of June 13, 2008 between Cenveo Corporation and U.S. Bank National Association, as Trustee, relating to the 101⁄2% Notes of Cenveo Corporation—incorporated by reference to Exhibit 4.21 to registrant’s quarterly report on Form 10-Q for the quarter ended September 27, 2008, filed November 5, 2008.                                                                                                                                                                   |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
| 4.24   |   | Second Supplemental Indenture, dated as of October 15, 2009, to the Indenture of June 13, 2008 between Cenveo Corporation and U.S. Bank National Association, as Trustee, relating to the 101⁄2% Notes of Cenveo Corporation—incorporated by reference to Exhibit 4.3 to registrant’s current report on Form 8-K filed October 16, 2009.                                                                                                                                                                                                               |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
| 4.25*  |   | Third Supplemental Indenture, dated as of December 21, 2010, to the Indenture of June 13, 2008 between Cenveo Corporation and U.S. Bank National Association, as Trustee, relating to the 101⁄2% Notes of Cenveo Corporation.                                                                                                                                                                                                                                                                                                                                      |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
| 4.26   |   | Registration Rights Agreement dated as of June 13, 2008, among Cenveo Corporation, Cenveo, Inc., the other Guarantors named therein and Lehman Brothers Inc.—incorporated by reference to Exhibit 10.1 to registrant’s current report on Form 8-K filed June 13, 2008.                                                                                                                                                                                                                                                                                    |

----

|   |   |                                                                                                                                                                                                                                                                                                                                                                                   |
|--------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 4.27   |   | Indenture dated as of February 5, 2010 among Cenveo Corporation, the Guarantors named therein and Wells Fargo Bank, National Association, as Trustee, relating to the 8 7/8% Notes of Cenveo Corporation—incorporated by reference to Exhibit 4.1 to registrant’s current report on Form 8-K filed February 9, 2010.                                                       |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                   |
| 4.28*  |   | First Supplemental Indenture, dated as of December 21, 2010, to the Indenture dated as of February 5, 2010 among Cenveo Corporation, the Guarantors named therein and Wells Fargo Bank, National Association, as Trustee, relating to the 8 7/8% Notes of Cenveo Corporation.                                                                                                          |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                   |
| 4.29   |   | Form of Guarantee issued by Cenveo, Inc. and the other Guarantors named therein relating to the 8 7/8% Notes of Cenveo Corporation—incorporated by reference to Exhibit 4.2 to registrant’s current report on Form 8-K filed February 9, 2010.                                                                                                                             |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                   |
| 4.30   |   | Registration Rights Agreement dated as of February 5, 2010 among Cenveo Corporation, Cenveo, Inc., the other Guarantors named therein and the initial purchasers named therein—incorporated by reference to Exhibit 4.3 to registrant’s current report on Form 8-K filed February 9, 2010.                                                                                 |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                   |
| 4.31   |   | Intercreditor Agreement dated as of February 5, 2010 among Cenveo Corporation, Cenveo, Inc., the grantors named therein, Wells Fargo Bank, National Association, as second lien collateral agent, Bank of America, N.A., as first lien agent and control agent—incorporated by reference to Exhibit 4.4 to registrant’s current report on Form 8-K filed February 9, 2010. |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                   |
| 4.32   |   | Second Lien Pledge and Security Agreement dated as of February 5, 2010 among Cenveo Corporation, Cenveo, Inc., the other grantors named therein and Wells Fargo Bank, National Association, as collateral agent – incorporated by reference to Exhibit 4.28 to registrant’s annual report on Form 10-K for the year ended January 2, 2010, filed March 3, 2010.            |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                   |
| 4.33   |   | Second Lien Intellectual Property Security Agreement dated as of February 5, 2010 among Cenveo Corporation, Cenveo, Inc., the other grantors named therein and Wells Fargo Bank, National Association, as collateral agent – incorporated by reference to Exhibit 4.29 to registrant’s annual report on Form 10-K for the year ended January 2, 2010, filed March 3, 2010. |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                   |
| 10.1+  |   | Form of Indemnity Agreement between Mail-Well, Inc. and each of its officers and directors—incorporated by reference from Exhibit 10.17 of the registrant’s Registration Statement on Form S-1 dated March 25, 1994.                                                                                                                                                       |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                   |
| 10.2+  |   | Employment Agreement dated as of October 27, 2005 between the registrant and Robert G. Burton, Sr.—incorporated by reference to Exhibit 10.29 of registrant’s annual report on Form 10-K for the year ended December 31, 2005, filed March 2, 2006.                                                                                                                        |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                   |
| 10.3+  |   | Amendment, dated November 8, 2006, to Employment Agreement dated as of October 27, 2005 between the registrant and Robert G. Burton, Sr.—incorporated by reference to Exhibit 10.19 of registrant’s annual report on Form 10-K for the year ended December 30, 2006, filed February 28, 2007.                                                                              |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                   |
| 10.4+  |   | Amendment, dated November 6, 2007, to Employment Agreement dated as of October 27, 2005, as amended, between the registrant and Robert G. Burton, Sr.—incorporated by reference to Exhibit 10.4 to registrant’s annual report on Form 10-K for the year ended December 29, 2007, filed March 28, 2008.                                                                     |

----

|   |   |                                                                                                                                                                                                                                                                                                                                                         |
|--------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 10.5+  |   | Amendment, dated February 27, 2008, to Employment Agreement dated as of October 27, 2005, as amended, between the registrant and Robert G. Burton, Sr.—incorporated by reference to Exhibit 10.1 to registrant’s quarterly report on Form 10-Q for the quarter ended March 29, 2008, filed May 7, 2008.                                          |
|   |   |                                                                                                                                                                                                                                                                                                                                                         |
| 10.6+  |   | Amendment, dated December 29, 2008, to Employment Agreement dated as of October 27, 2005, as amended, between the registrant and Robert G. Burton, Sr.—incorporated by reference to Exhibit 10.6 to registrant’s annual report on Form 10-K for the year ended January 3, 2009, filed March 19, 2009.                                            |
|   |   |                                                                                                                                                                                                                                                                                                                                                         |
| 10.7+  |   | Employment Agreement dated as of February 1, 2008 between the registrant and Dean Cherry—incorporated by reference to Exhibit 10.5 to registrant’s annual report on Form 10-K for the year ended December 29, 2007, filed on March 28, 2008.                                                                                                     |
|   |   |                                                                                                                                                                                                                                                                                                                                                         |
| 10.8+  |   | Employment Agreement dated as of July 11, 2007 between the registrant and Mark Hiltwein—incorporated by reference to Exhibit 10.2 to registrant’s quarterly report on Form 10-Q for the quarter ended September 29, 2007, filed November 8, 2007.                                                                                                |
|   |   |                                                                                                                                                                                                                                                                                                                                                         |
| 10.9+  |   | Employment Agreement dated as of June 22, 2006 between the registrant and Harry Vinson—incorporated by reference to Exhibit 10.21 to registrant’s quarterly report on Form 10-Q for the quarter ended June 30, 2006.                                                                                                                             |
|   |   |                                                                                                                                                                                                                                                                                                                                                         |
| 10.10  |   | Settlement and Governance Agreement by and among the registrant, Burton Capital Management, LLC and Robert G. Burton, Sr., dated September 9, 2005—incorporated by reference to Exhibit 10.1 to the registrant’s current report on Form 8-K filed September 12, 2005.                                                                            |
|   |   |                                                                                                                                                                                                                                                                                                                                                         |
| 10.11+ |   | Cenveo, Inc. 2001 Long-Term Equity Incentive Plan, as amended—incorporated by reference to Exhibit 10.24 to registrant’s quarterly report on Form 10-Q for the quarter ended June 30, 2004, filed August 2, 2004.                                                                                                                                |
|   |   |                                                                                                                                                                                                                                                                                                                                                         |
| 10.12+ |   | Cenveo, Inc. 2007 Long-Term Equity Incentive Plan, as amended—incorporated by reference to Exhibit A to registrant’s Schedule 14A filed April 6, 2009.                                                                                                                                                                                           |
|   |   |                                                                                                                                                                                                                                                                                                                                                         |
| 10.13+ |   | Form of Non-Qualified Stock Option Agreement for Employees under 2007 Long-Term Equity Incentive Plan—incorporated by reference to Exhibit 10.17 to registrant’s annual report on Form 10-K for the year ended December 29, 2007, filed on March 28, 2008.                                                                                       |
|   |   |                                                                                                                                                                                                                                                                                                                                                         |
| 10.14+ |   | Form of Restricted Share Unit Award Agreement for Employees under 2007 Long-Term Equity Incentive Plan—incorporated by reference to Exhibit 10.18 to registrant’s annual report on Form 10-K for the year ended December 29, 2007, filed on March 28, 2008.                                                                                      |
|   |   |                                                                                                                                                                                                                                                                                                                                                         |
| 10.15+ |   | Form of Restricted Share Unit Award Agreement for Non-Employee Directors under 2007 Long-Term Equity Incentive Plan—incorporated by reference to Exhibit 10.19 to registrant’s annual report on Form 10-K for the year ended December 29, 2007, filed on March 28, 2008.                                                                         |
|   |   |                                                                                                                                                                                                                                                                                                                                                         |
| 10.16  |   | Amended and Restated Credit Agreement dated as of December 21, 2010 among Cenveo Corporation, Cenveo, Inc. Bank of America, N.A., as Administrative Agent, Swing Line Lender and L/C Issuer, and the other lenders party thereto – incorporated by reference to Exhibit 10.1 to registrant’s current report on Form 8-K filed December 23, 2010. |

----

|   |   |                                                                                                                        |
|--------|--------|-----------------------------------------------------------------------------------------------------------------------------|
|   |   |                                                                                                                        |
| 21.1*  |   | Subsidiaries of the registrant.                                                                                             |
|   |   |                                                                                                                        |
| 23.1*  |   | Consent of Grant Thornton LLP.                                                                                              |
|   |   |                                                                                                                        |
| 24.1   |   | Power of Attorney—incorporated by reference to page 93.                                                               |
|   |   |                                                                                                                        |
| 31.1*  |   | Certification by Robert G. Burton, Sr., Chief Executive Officer, pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. |
|   |   |                                                                                                                        |
| 31.2*  |   | Certification by Mark S. Hiltwein, Chief Financial Officer, pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.      |

|   |   |                                                                                                                                                         |
|--------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 32.1*  |   | Certification of the Chief Executive Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, furnished as an exhibit to this report on Form 10-K. |
|   |   |                                                                                                                                                         |
| 32.2*  |   | Certification of the Chief Financial Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, furnished as an exhibit to this report on Form 10-K. |

| + | Management contract or compensatory plan or arrangement. |
|---|----------------------------------------------------------|

| * | Filed herewith. |
|---|-----------------|

----

|   |               CENVEO, INC. |
|--------|--------------------------------------------------------------------------------------------------|
|   |                                                                                             |   |
|   | By:                                                                                              | /S/  ROBERT G. BURTON, SR. |
|   |                                                                                             | Robert G. Burton, Sr., Chairman andChief Executive Officer(Principal Executive Officer) |
|   |                                                                                             |   |
|   |                                                                                             |   |
|   | By:                                                                                              | /S/  MARK S. HILTWEIN |
|   |                                                                                             | Mark S. Hiltwein,Chief Financial Officer(Principal Financial Officer andPrincipal Accounting Officer) |
|   |                                                                                             |   |

----

| Signature                 |   | Title                                |   | Date          |   |
|---------------------------|--------|--------------------------------------|--------|---------------|--------|
|                      |   |                                 |   |          |   |
|                      |   |                                 |   |          |   |
| /s/ Robert G. Burton, Sr. |   | Chairman and Chief Executive Officer |   | March 2, 2011 |   |
| Robert G. Burton, Sr.     |   | (Principal Executive Officer)        |   |          |   |
|                      |   |                                 |   |          |
|                      |   |                                 |   |          |   |
| /s/ Mark S. Hiltwein      |   | Chief Financial Officer              |   | March 2, 2011 |   |
| Mark S. Hiltwein          |   | (Principal Financial Officer and     |   |          |   |
|                      |   | Principal Accounting Officer)        |   |          |   |
|                      |   |                                 |   |          |   |
|                      |   |                                 |   |          |   |
| /s/ Gerald S. Armstrong   |   | Director                             |   | March 2, 2011 |   |
| Gerald S. Armstrong       |   |                                 |   |          |   |
|                      |   |                                 |   |          |   |
| /s/ Leonard C. Green      |   | Director                             |   | March 2, 2011 |   |
| Leonard C. Green          |   |                                 |   |          |   |
|                      |   |                                 |   |          |   |
| /s/ Mark J. Griffin       |   | Director                             |   | March 2, 2011 |   |
| Mark J. Griffin           |   |                                 |   |          |   |
|                      |   |                                 |   |          |   |
| /s/ Robert Obernier       |   | Director                             |   | March 2, 2011 |   |
| Robert Obernier           |   |                                 |   |          |   |