----

----

----

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

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

| 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)    |

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

----

----

----

|                                           |                                                                                                              | Page No. |
|------------------------------------------------|-------------------------------------------------------------------------------------------------------------------|----------|
| PART I — FINANCIAL INFORMATION |                                                                                                              |
| Item 1:                                        | Financial Statements (unaudited)                                                                                  |     |
|                                           | Condensed Consolidated Balance Sheets as of July 3, 2010 and January 2, 2010                                      | 2        |
|                                           | Condensed Consolidated Statements of Operations for the three and six months ended July 3, 2010 and June 27, 2009 | 3        |
|                                           | Condensed Consolidated Statements of Cash Flows for the six months ended July 3, 2010 and June 27, 2009           | 4        |
|                                           | Notes to Condensed Consolidated Financial Statements                                                              | 5        |
| Item 2:                                        | Management’s Discussion and Analysis of Financial Condition and Results of Operations                       | 32       |
| Item 3:                                        | Quantitative and Qualitative Disclosure About Market Risk                                                         | 43       |
| Item 4:                                        | Controls and Procedures                                                                                           | 44       |
|                                           |                                                                                                              |
| PART II — OTHER INFORMATION    |                                                                                                              |
| Item 1:                                        | Legal Proceedings                                                                                                 | 45       |
| Item 1A:                                       | Risk Factors                                                                                                      | 45       |
| Item 6:                                        | Exhibits                                                                                                          | 45       |
|                                           | Signatures                                                                                                        | 49       |

----

Item 1.   Financial Statements

CONDENSED CONSOLIDATED BALANCE SHEETS

|                                              |   | July 3, 2010 |      |   | January 2, 2010 |   |
|---------------------------------------------------|--------|--------------|-----------|--------|-----------------|--------|
| Assets                                            |   | (unaudited)  |      |   |            |   |
| Current assets:                                   |   |         |      |   |            |   |
| Cash and cash equivalents                         |   | $            | 59,933    |   |            | $      | 10,796 |   |
| Accounts receivable, net                          |   |         | 246,449   |   |            |   | 268,563 |   |
| Inventories                                       |   |         | 145,828   |   |            |   | 145,228 |   |
| Prepaid and other current assets                  |   |         | 64,301    |   |            |   | 64,843 |   |
| Total current assets                              |   |         | 516,511   |   |            |   | 489,430 |   |
|                                              |   |         |      |   |            |   |   |   |
| Property, plant and equipment, net                |   |         | 367,540   |   |            |   | 387,879 |   |
| Goodwill                                          |   |         | 336,169   |   |            |   | 319,756 |   |
| Other intangible assets, net                      |   |         | 293,271   |   |            |   | 295,418 |   |
| Other assets, net                                 |   |         | 39,898    |   |            |   | 33,290 |   |
| Total assets                                      |   | $            | 1,553,389 |   |            | $      | 1,525,773 |   |
|                                              |   |         |      |   |            |   |   |   |
| Liabilities and Shareholders’ Deficit       |   |         |      |   |            |   |   |   |
| Current liabilities:                              |   |         |      |   |            |   |   |   |
| Current maturities of long-term debt              |   | $            | 10,999    |   |            | $      | 15,057 |   |
| Accounts payable                                  |   |         | 167,582   |   |            |   | 183,940 |   |
| Accrued compensation and related liabilities      |   |         | 27,915    |   |            |   | 29,841 |   |
| Other current liabilities                         |   |         | 110,156   |   |            |   | 98,079 |   |
| Total current liabilities                         |   |         | 316,652   |   |            |   | 326,917 |   |
|                                              |   |         |      |   |            |   |   |   |
| Long-term debt                                    |   |         | 1,281,707 |   |            |   | 1,218,860 |   |
| Other liabilities                                 |   |         | 138,819   |   |            |   | 156,506 |   |
| Commitments and contingencies                     |   |         |      |   |            |   |   |   |
| Shareholders’ deficit:                      |   |         |      |   |            |   |   |   |
| Preferred stock                                   |   |         | —   |   |            |   | — |   |
| Common stock                                      |   |         | 625       |   |            |   | 620 |   |
| Paid-in capital                                   |   |         | 337,952   |   |            |   | 331,051 |   |
| Retained deficit                                  |   |         | (497,340  | )      |            |   | (477,905 | ) |
| Accumulated other comprehensive loss              |   |         | (25,026   | )      |            |   | (30,276 | ) |
| Total shareholders’ deficit                 |   |         | (183,789  | )      |            |   | (176,510 | ) |
| Total liabilities and shareholders’ deficit |   | $            | 1,553,389 |   |            | $      | 1,525,773 |   |

----

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

|                                                |   | Three Months Ended |    |   | Six Months Ended |   |
|-----------------------------------------------------|--------|--------------------|---------|--------|------------------|--------|
|                                                |   | July 3, 2010       |    |   | June 27, 2009    |   |   | July 3, 2010 |   |   | June 27, 2009 |   |
|                                                |   |               |    |   |             |   |   |   |   |   |   |   |
| Net sales                                           |   | $                  | 445,264 |   |             | $      | 397,644 |   |   | $ | 899,198 |   |   | $ | 809,744 |   |
| Cost of sales                                       |   |               | 360,017 |   |             |   | 320,365 |   |   |   | 735,207 |   |   |   | 668,681 |   |
| Selling, general and administrative expenses        |   |               | 51,484  |   |             |   | 48,370 |   |   |   | 105,526 |   |   |   | 100,885 |   |
| Amortization of intangible assets                   |   |               | 2,901   |   |             |   | 2,355 |   |   |   | 5,785 |   |   |   | 4,671 |   |
| Restructuring and impairment charges                |   |               | 11,476  |   |             |   | 32,031 |   |   |   | 21,103 |   |   |   | 40,763 |   |
| Operating income (loss)                             |   |               | 19,386  |   |             |   | (5,477 | ) |   |   | 31, 577 |   |   |   | (5,256 | ) |
| Interest expense, net                               |   |               | 31,492  |   |             |   | 27,807 |   |   |   | 61,106 |   |   |   | 50,352 |   |
| (Gain) loss on early extinguishment of debt         |   |               | — |   |             |   | 725 |   |   |   | 2,598 |   |   |   | (16,917 | ) |
| Other (income) expense, net                         |   |               | 305     |   |             |   | (2,621 | ) |   |   | 1,032 |   |   |   | (2,586 | ) |
| Loss from continuing operations before income taxes |   |               | (12,411 | )      |             |   | (31,388 | ) |   |   | (33,159 | ) |   |   | (36,105 | ) |
| Income tax benefit                                  |   |               | (4,119  | )      |             |   | (13,547 | ) |   |   | (13,846 | ) |   |   | (14,077 | ) |
| Loss from continuing operations                     |   |               | (8,292  | )      |             |   | (17,841 | ) |   |   | (19,313 | ) |   |   | (22,028 | ) |
| Loss from discontinued operations, net of taxes     |   |               | (35     | )      |             |   | (411 | ) |   |   | (122 | ) |   |   | (535 | ) |
| Net loss                                            |   | $                  | (8,327  | )      |             | $      | (18,252 | ) |   | $ | (19,435 | ) |   | $ | (22,563 | ) |
|                                                |   |               |    |   |             |   |   |   |   |   |   |   |   |   |   |   |
| Loss per share – basic and diluted:           |   |               |    |   |             |   |   |   |   |   |   |   |   |   |   |   |
| Continuing operations                               |   | $                  | (0.13   | )      |             | $      | (0.33 | ) |   | $ | (0.31 | ) |   | $ | (0.40 | ) |
| Discontinued operations                             |   |               | — |   |             |   | (0.01 | ) |   |   | — |   |   |   | (0.01 | ) |
| Net loss                                            |   | $                  | (0.13   | )      |             | $      | (0.34 | ) |   | $ | (0.31 | ) |   | $ | (0.41 | ) |
| Weighted average shares outstanding:                |   |               |    |   |             |   |   |   |   |   |   |   |   |   |   |   |
| Basic and diluted                                   |   |               | 62,216  |   |             |   | 54,551 |   |   |   | 62,166 |   |   |   | 54,456 |   |

----

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

|                                                                                      |   | Six Months Ended |     |
|-------------------------------------------------------------------------------------------|--------|------------------|----------|
|                                                                                      |   | July 3, 2010     |     |   | June 27, 2009 |   |
| Cash flows from operating activities:                                                     |   |             |     |   |   |   |
| Net loss                                                                                  |   | $                | (19,435  | ) |   | $ | (22,563 | ) |
| Adjustments to reconcile net loss to net cash provided by operating activities:           |   |             |     |   |   |   |   |   |
| Loss from discontinued operations, net of taxes                                           |   |             | 122      |   |   |   | 535 |   |
| Depreciation and amortization, excluding non-cash interest expense                        |   |             | 33,010   |   |   |   | 33,627 |   |
| Non-cash interest expense, net                                                            |   |             | 2,345    |   |   |   | 1,064 |   |
| Gain (loss) on early extinguishment of debt                                               |   |             | 2,598    |   |   |   | (16,917 | ) |
| Stock-based compensation provision                                                        |   |             | 5,625    |   |   |   | 6,856 |   |
| Non-cash restructuring and impairment charges                                             |   |             | 5,525    |   |   |   | 24,489 |   |
| Deferred income taxes                                                                     |   |             | (15,976  | ) |   |   | (16,316 | ) |
| Gain on sale of assets                                                                    |   |             | (65      | ) |   |   | (3,907 | ) |
| Other non-cash charges                                                                    |   |             | 3,853    |   |   |   | 3,518 |   |
| Changes in operating assets and liabilities excluding the effects of acquired businesses: |   |             |     |   |   |   |   |   |
| Accounts receivable                                                                       |   |             | 23,022   |   |   |   | 38,086 |   |
| Inventories                                                                               |   |             | (2,161   | ) |   |   | 17,509 |   |
| Accounts payable and accrued compensation and related liabilities                         |   |             | (18,896  | ) |   |   | (39,267 | ) |
| Other working capital changes                                                             |   |             | 16,623   |   |   |   | (4,797 | ) |
| Other, net                                                                                |   |             | (6,595   | ) |   |   | 120 |   |
| Net cash provided by operating activities                                                 |   |             | 29,595   |   |   |   | 22,037 |   |
| Cash flows from investing activities:                                                     |   |             |     |   |   |   |   |   |
| Cost of business acquisitions, net of cash acquired                                       |   |             | (21,483  | ) |   |   | — |   |
| Capital expenditures                                                                      |   |             | (8,236   | ) |   |   | (16,075 | ) |
| Proceeds from sale of property, plant and equipment                                       |   |             | 1,476    |   |   |   | 5,159 |   |
| Proceeds from sale of investment                                                          |   |             | —  |   |   |   | 4,032 |   |
| Net cash used in investing activities                                                     |   |             | (28,243  | ) |   |   | (6,884 | ) |
| Cash flows from financing activities:                                                     |   |             |     |   |   |   |   |   |
| Proceeds from issuance of 87⁄8% senior second lien notes                              |   |             | 397,204  |   |   |   | — |   |
| Proceeds from exercise of stock options                                                   |   |             | 1,281    |   |   |   | — |   |
| Repayment of term loans                                                                   |   |             | (311,944 | ) |   |   | (21,083 | ) |
| (Repayments) borrowings under revolving credit facility, net                              |   |             | (22,500  | ) |   |   | 47,200 |   |
| Payment of refinancing or repurchase fees, redemption premiums and expenses               |   |             | (13,009  | ) |   |   | (94 | ) |
| Repayments of other long-term debt                                                        |   |             | (4,064   | ) |   |   | (4,870 | ) |
| Repayment of 83⁄8% senior subordinated notes                                          |   |             | —  |   |   |   | (23,024 | ) |
| Repayment of 101⁄2% senior notes                                                       |   |             | —  |   |   |   | (3,250 | ) |
| Repayment of 77⁄8% senior subordinated notes                                          |   |             | —  |   |   |   | (4,295 | ) |
| Payment of amendment and debt issuance costs                                              |   |             | —  |   |   |   | (7,296 | ) |
| Purchase and retirement of common stock upon vesting  of RSUs                   |   |             | —  |   |   |   | (478 | ) |
| Net cash provided by (used in) financing activities                                       |   |             | 46,968   |   |   |   | (17,190 | ) |
| Effect of exchange rate changes on cash and cash equivalents                              |   |             | 817      |   |   |   | (42 | ) |
| Net increase (decrease) in cash and cash equivalents                                      |   |             | 49,137   |   |   |   | (2,079 | ) |
| Cash and cash equivalents at beginning of period                                          |   |             | 10,796   |   |   |   | 10,444 |   |
| Cash and cash equivalents at end of period                                                |   | $                | 59,933   |   |   | $ | 8,365 |   |

----

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

----

----

|                                                                |   | 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  |   |

----

|                                                  |   | Three Months Ended |    |   | Six Months Ended |   |
|-------------------------------------------------------|--------|--------------------|---------|--------|------------------|--------|
|                                                  |   | June 27, 2009      |    |   | June 27, 2009    |   |
|                                                  |   | AsReported         |    |   | ProForma         |   |   | AsReported |   |   | ProForma |   |
| Net sales                                             |   | $                  | 397,644 |   |             | $      | 458,840 |   |   | $ | 809,744 |   |   | $ | 933,418 |   |
| Operating loss                                        |   |               | (5,477  | )      |             |   | (5,721 | ) |   |   | (5,256 | ) |   |   | (6,229 | ) |
| Loss from continuing operations                       |   |               | (17,841 | )      |             |   | (17,972 | ) |   |   | (22,028 | ) |   |   | (22,734 | ) |
| Net loss                                              |   |               | (18,252 | )      |             |   | (18,383 | ) |   |   | (22,563 | ) |   |   | (23,269 | ) |
| Loss per share – basic and diluted:             |   |               |    |   |             |   |   |   |   |   |   |   |   |   |   |   |
|      Continuing operations   |   | $                  | (0.33   | )      |             | $      | (0.29 | ) |   | $ | (0.40 | ) |   | $ | (0.37 | ) |
|      Discontinued operations |   |               | (0.01   | )      |             |   | (0.01 | ) |   |   | (0.01 | ) |   |   | (0.01 | ) |
|      Net loss                |   | $                  | (0.34   | )      |             | $      | (0.30 | ) |   | $ | (0.41 | ) |   | $ | (0.38 | ) |
|                                                  |   |               |    |   |             |   |   |   |   |   |   |   |   |   |   |   |
| Weighted average shares outstanding:                  |   |               |    |   |             |   |   |   |   |   |   |   |   |   |   |   |
|      Basic and diluted       |   |               | 54,551  |   |             |   | 61,607 |   |   |   | 54,456 |   |   |   | 61,514 |   |

|                                                                                                                                                                                                                                                                                                                                                                                                                       |   | Nashua Plan        |   |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------------|--------|
|                                                                                                                                                                                                                                                                                                                                                                                                                       |   | Three Months Ended |   |   | Six MonthsEnded |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                       |   | July 3, 2010       |   |   | July 3, 2010 |   |
| Employee separation costs                                                                  |   | $                  | 1,114  |   |   | $ | 1,253 |   |
| Asset impairments, net of gain on sale                                                                                                                                                                                                                                                                                                                                                                                     |   |               | 298    |   |   |   | 298 |   |
| Equipment moving expenses                                                                  |   |               | 382    |   |   |   | 634 |   |
| Lease termination expenses                                                                 |   |               | 59     |   |   |   | 192 |   |
| Building clean-up and other expenses                                                                                                                                                                                                                                                                                                                                                                                       |   |               | 209    |   |   |   | 286 |   |
| Total restructuring and impairment charges                                                                                                                                                                                                                                                                                                                                                                                 |   | $                  | 2,062  |   |   | $ | 2,663 |   |

----

|                          |   | LeaseTerminationCosts |   |   | EmployeeSeparationCosts |   |   | Other Exit Costs |   |   | Total   |   |
|-------------------------------|--------|-----------------------|--------|--------|-------------------------|--------|--------|------------------|--------|--------|---------|--------|
| Balance as of January 2, 2010 |   | $                     | 2,791  |   |                    | $      | 532    |             |   | $      | — |   |   | $ | 3,323 |   |
| Nashua Plan                   |   |                  | 192    |   |                    |   | 1,253  |             |   |   | 286     |   |   |   | 1,731 |   |
| Payments                      |   |                  | (939   | )      |                    |   | (830   | )                |   |   | (286    | )      |   |   | (2,055 | ) |
| Balance as of July 3, 2010    |   | $                     | 2,044  |   |                    | $      | 955    |             |   | $      | — |   |   | $ | 2,999 |   |

|            |   | July 3,2010 |    |   | January 2, 2010 |   |
|-----------------|--------|-------------|---------|--------|-----------------|--------|
| Raw materials   |   | $           | 66,216  |   |            | $      | 60,332 |   |
| Work in process |   |        | 24,269  |   |            |   | 25,812 |   |
| Finished goods  |   |        | 55,343  |   |            |   | 59,084 |   |
|            |   | $           | 145,828 |   |            | $      | 145,228 |   |

|                                |   | July 3,2010 |     |   | January 2, 2010 |   |
|-------------------------------------|--------|-------------|----------|--------|-----------------|--------|
| Land and land improvements          |   | $           | 19,125   |   |            | $      | 18,622 |   |
| Buildings and building improvements |   |        | 107,666  |   |            |   | 106,785 |   |
| Machinery and equipment             |   |        | 616,326  |   |            |   | 616,022 |   |
| Furniture and fixtures              |   |        | 12,072   |   |            |   | 12,652 |   |
| Construction in progress            |   |        | 7,953    |   |            |   | 12,143 |   |
|                                |   |        | 763,142  |   |            |   | 766,224 |   |
| Accumulated depreciation            |   |        | (395,602 | )      |            |   | (378,345 | ) |
|                                |   | $           | 367,540  |   |            | $      | 387,879 |   |

|                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   | Envelopes, Formsand Labels |    |   | CommercialPrinting |   |    | Total  |   |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|----------------------------|---------|--------|--------------------|--------|---------|--------|--------|
| Balance as of January 2, 2010                                                                               |   | $                          | 152,071 |   |               | $      | 167,685 |   |   | $ | 319,756 |   |
|   Acquisition                                                                                     |   |                       | 795     |   |               |   | 15,529  |   |   |   | 16,324 |   |
|   Foreign currency translation                                                                    |   |                       | — |   |               |   | 89      |   |   |   | 89 |   |
| Balance as of July 3, 2010                                                                                  |   | $                          | 152,866 |   |               |   | 183,303 |   |   | $ | 336,169 |   |

----

|                                       |   | July 3, 2010                                           |     |   | January 2, 2010     |   |
|--------------------------------------------|--------|--------------------------------------------------------|----------|--------|---------------------|--------|
|                                       |   | Weighted Average Remaining Amortization Period (Years) |     |   | GrossCarryingAmount |   |   | AccumulatedAmortization |   |   | NetCarryingAmount |   |   | GrossCarryingAmount |   |   | AccumulatedAmortization |   |   | NetCarryingAmount |   |
| Intangible assets with determinable lives: |   |                                                   |     |   |                |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Customer relationships                     |   |                                                   | 15       |   |                | $      | 175,843 |   |   | $ | (43,391 | ) |   | $ | 132,452 |   |   | $ | 172,205 |   |   | $ | (38,394 | ) |   | $ | 133,811 |   |
| Trademarks and tradenames                  |   |                                                   | 23       |   |                |   | 21,011 |   |   |   | (5,441 | ) |   |   | 15,570 |   |   |   | 21,011 |   |   |   | (4,986 | ) |   |   | 16,025 |   |
| Patents                                    |   |                                                   |   4 |   |                |   | 3,028 |   |   |   | (2,158 | ) |   |   | 870 |   |   |   | 3,028 |   |   |   | (2,023 | ) |   |   | 1,005 |   |
| Non-compete agreements                     |   |                                                   |   2 |   |                |   | 2,456 |   |   |   | (2,121 | ) |   |   | 335 |   |   |   | 2,456 |   |   |   | (1,958 | ) |   |   | 498 |   |
| Other                                      |   |                                                   |   8 |   |                |   | 802 |   |   |   | (258 | ) |   |   | 544 |   |   |   | 802 |   |   |   | (223 | ) |   |   | 579 |   |
|                                       |   |                                                   |     |   |                |   | 203,140 |   |   |   | (53,369 | ) |   |   | 149,771 |   |   |   | 199,502 |   |   |   | (47,584 | ) |   |   | 151,918 |   |
|                                       |   |                                                   |     |   |                |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Intangible assets with indefinite lives:   |   |                                                   |     |   |                |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Trademarks                                 |   |                                                   |     |   |                |   | 143,500 |   |   |   | — |   |   |   | 143,500 |   |   |   | 143,500 |   |   |   | — |   |   |   | 143,500 |   |
| Total                                      |   |                                                   |     |   |                | $      | 346,640 |   |   | $ | (53,369 | ) |   | $ | 293,271 |   |   | $ | 343,002 |   |   | $ | (47,584 | ) |   | $ | 295,418 |   |

|   |   | Annual Estimated Expense |   |
|--------|--------|--------------------------|--------|
| 2011   |   | $                        | 11,825 |   |
| 2012   |   |                     | 11,677 |   |
| 2013   |   |                     | 11,537 |   |
| 2014   |   |                     | 11,245 |   |
| 2015   |   |                     | 11,060 |   |

----

|                                                                                                                              |   | July 3,2010 |      |   | January 2,2010 |   |
|-----------------------------------------------------------------------------------------------------------------------------------|--------|-------------|-----------|--------|----------------|--------|
| Term loan, due 2013                                                                                                               |   | $           | 371,362   |   |           | $      | 683,306 |   |
| 77⁄8% senior subordinated notes, due 2013                                                                                     |   |        | 296,270   |   |           |   | 296,270 |   |
| 101⁄2% senior notes, due 2016                                                                                                  |   |        | 170,000   |   |           |   | 170,000 |   |
| 83⁄8% senior subordinated notes, due 2014 ($32.2 million outstanding principal amount as of July 3, 2010 and January 2, 2010) |   |        | 32,662    |   |           |   | 32,715 |   |
| 87⁄8% senior second lien notes, due 2018 ($400.0 million outstanding principal amount as of July 3, 2010)                |   |        | 397,350   |   |           |   | — |   |
| Revolving credit facility, due 2012                                                                                               |   |        | —   |   |           |   | 22,500 |   |
| Other                                                                                                                             |   |        | 25,062    |   |           |   | 29,126 |   |
|                                                                                                                              |   |        | 1,292,706 |   |           |   | 1,233,917 |   |
| Less current maturities                                                                                                           |   |        | (10,999   | )      |           |   | (15,057 | ) |
| Long-term debt                                                                                                                    |   | $           | 1,281,707 |   |           | $      | 1,218,860 |   |

----

----

|                                                            |   | July 3,2010 |    |   | January 2,2010 |   |
|-----------------------------------------------------------------|--------|-------------|---------|--------|----------------|--------|
|                                                            |   |        |    |   |           |   |
| Current Liabilities:                                            |   |        |    |   |           |   |
|      Interest Rate Swaps               |   | $           | 7,015   |   |           | $      | 9,044 |   |
|      Interest Rate Swaps (ineffective) |   |        | 1,433   |   |           |   | — |   |
| Long-Term Liabilities:                                          |   |        |    |   |           |   |   |   |
|      Interest Rate Swaps               |   |        | — |   |           |   | 7,875 |   |

----

|                           |   | Three Months Ended |    |   | Six Months Ended |   |
|--------------------------------|--------|--------------------|---------|--------|------------------|--------|
|                           |   | July 3, 2010       |    |   | June 27, 2009    |   |   | July 3, 2010 |   |   | June 27, 2009 |   |
| Service cost                   |   | $                  | 245     |   |             | $      | 98 |   |   | $ | 489 |   |   | $ | 197 |   |
| Interest cost                  |   |               | 4,119   |   |             |   | 2,503 |   |   |   | 8,042 |   |   |   | 4,996 |   |
| Expected return on plan assets |   |               | (3,615  | )      |             |   | (1,926 | ) |   |   | (7,229 | ) |   |   | (3,852 | ) |
| Net amortization and deferral  |   |               | — |   |             |   | 1 |   |   |   | 1 |   |   |   | 1 |   |
| Recognized net actuarial loss  |   |               | 559     |   |             |   | 588 |   |   |   | 1,119 |   |   |   | 1,176 |   |
| Net periodic pension expense   |   | $                  | 1,308   |   |             | $      | 1,264 |   |   | $ | 2,422 |   |   | $ | 2,518 |   |

----

|                           | Options   |   |   | WeightedAverageExercisePrice |   | WeightedAverageRemainingContractualTerm (InYears) |   | AggregateIntrinsicValue(a)(InThousands) |   |
|--------------------------------|-----------|--------|--------|------------------------------|--------|---------------------------------------------------|--------|-----------------------------------------|--------|
| Outstanding at January 2, 2010 | 3,917,851 |   |   | $                            | 11.73  |                                              | 3.7    |                                    | $      | 5,513 |   |
| Granted                        | 660,000   |   |   |                         | 7.02   |                                              |   |                                    |   |   |   |
| Exercised                      | (120,000  | )      |   |                         | 4.98   |                                              |   |                                    | $      | 284 |   |
| Forfeited                      | (207,854  | )      |   |                         | 14.65  |                                              |   |                                    |   |   |   |
| Outstanding at July 3, 2010    | 4,249,997 |   |   |                         | 11.05  |                                              | 3.4    |                                    | $      | 1,169 |   |
| Exercisable at July 3, 2010    | 2,444,872 |   |   |                         | 12.79  |                                              | 2.4    |                                    | $      | 378 |   |

| (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 at July 3, 2010 or, if exercised, the exercise dates, exceeds the exercise prices of the respective options. |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Weighted average fair value of option grants |   | $      | 2.77   |   |
|----------------------------------------------|--------|--------|--------|--------|
| Assumptions:                                 |   |   |   |   |
| Expected option life in years                |   |   | 4.25   |   |
| Risk-free interest rate                      |   |   | 1.61   | %      |
| Expected volatility                          |   |   | 47.3   | %      |
| Expected dividend yield                      |   |   | 0.0    | %      |

----

|                        |   | Restricted Shares |    |   | RSUs                                 |   |
|-----------------------------|--------|-------------------|---------|--------|--------------------------------------|--------|
|                        |   | Shares            |    |   | Weighted AverageGrant DateFair Value |   |   | Shares |   |   | Weighted AverageGrant DateFair Value |   |
| Unvested at January 2, 2010 |   |              | 161,144 |   |                                 | $      | 6.53 |   |   |   | 1,896,585 |   |   | $ | 9.72 |   |
| Granted                     |   |              | — |   |                                 |   | — |   |   |   | 756,924 |   |   |   | 7.02 |   |
| Vested                      |   |              | (1,447  | )      |                                 |   | 6.53 |   |   |   | (325,007 | ) |   |   | 6.37 |   |
| Forfeited                   |   |              | — |   |                                 |   | — |   |   |   | (20,625 | ) |   |   | 9.49 |   |
| Unvested at July 3, 2010    |   |              | 159,697 |   |                                 |   | 6.53 |   |   |   | 2,307,877 |   |   |   | 9.32 |   |

|                                       |   | Envelopes,Forms andLabels |   |   | CommercialPrinting |   |   | Corporate |   |   | Total   |   |
|--------------------------------------------|--------|---------------------------|--------|--------|--------------------|--------|--------|-----------|--------|--------|---------|--------|
| Employee separation costs                  |   | $                         | 2,034  |   |               | $      | 965    |      |   | $      | 130     |   |   | $ | 3,129 |   |
| Asset impairments, net of gain on sale     |   |                      | (9     | )      |               |   | 1,061  |      |   |   | — |   |   |   | 1,052 |   |
| Equipment moving expenses                  |   |                      | 41     |   |               |   | 460    |      |   |   | — |   |   |   | 501 |   |
| Lease termination expenses                 |   |                      | 107    |   |               |   | 2,634  |      |   |   | — |   |   |   | 2,741 |   |
| Building clean-up and other expenses       |   |                      | 51     |   |               |   | 1,179  |      |   |   | 125     |   |   |   | 1,355 |   |
| Total restructuring and impairment charges |   | $                         | 2,224  |   |               | $      | 6,299  |      |   | $      | 255     |   |   | $ | 8,778 |   |

----

|                                       |   | Envelopes,Forms andLabels |   |   | CommercialPrinting |   |    | Corporate |   |   | Total   |   |
|--------------------------------------------|--------|---------------------------|--------|--------|--------------------|--------|---------|-----------|--------|--------|---------|--------|
| Employee separation costs                  |   | $                         | 2,886  |   |               | $      | 3,103   |      |   | $      | 130     |   |   | $ | 6,119 |   |
| Asset impairments, net of gain on sale     |   |                      | 71     |   |               |   | 1,454   |      |   |   | — |   |   |   | 1,525 |   |
| Equipment moving expenses                  |   |                      | 191    |   |               |   | 981     |      |   |   | — |   |   |   | 1,172 |   |
| Lease termination expenses                 |   |                      | 158    |   |               |   | 3,943   |      |   |   | 345     |   |   |   | 4,446 |   |
| Multi-employer pension withdrawal expenses |   |                      | 1,588  |   |               |   | — |      |   |   | — |   |   |   | 1,588 |   |
| Building clean-up and other expenses       |   |                      | 306    |   |               |   | 2,462   |      |   |   | 226     |   |   |   | 2,994 |   |
| Total restructuring and impairment charges |   | $                         | 5,200  |   |               | $      | 11,943  |      |   | $      | 701     |   |   | $ | 17,844 |   |

|                                       |   | Envelopes,Forms andLabels |    |   | CommercialPrinting |   |   | Corporate |   |   | Total   |   |
|--------------------------------------------|--------|---------------------------|---------|--------|--------------------|--------|--------|-----------|--------|--------|---------|--------|
| Employee separation costs                  |   | $                         | 1,450   |   |               | $      | 4,834  |      |   | $      | 720     |   |   | $ | 7,004 |   |
| Asset impairments, net of gain on sale     |   |                      | 10      |   |               |   | 3,941  |      |   |   | — |   |   |   | 3,951 |   |
| Equipment moving expenses                  |   |                      | 591     |   |               |   | 480    |      |   |   | — |   |   |   | 1,071 |   |
| Lease termination expenses                 |   |                      | 3,986   |   |               |   | 426    |      |   |   | 179     |   |   |   | 4,591 |   |
| Multi-employer pension withdrawal expenses |   |                      | — |   |               |   | 11,303 |      |   |   | — |   |   |   | 11,303 |   |
| Building clean-up and other expenses       |   |                      | 1,175   |   |               |   | 296    |      |   |   | — |   |   |   | 1,471 |   |
| Total restructuring and impairment charges |   | $                         | 7,212   |   |               | $      | 21,280 |      |   | $      | 899     |   |   | $ | 29,391 |   |

|                                       |   | Envelopes,Forms andLabels |    |   | CommercialPrinting |   |   | Corporate |   |   | Total   |   |
|--------------------------------------------|--------|---------------------------|---------|--------|--------------------|--------|--------|-----------|--------|--------|---------|--------|
| Employee separation costs                  |   | $                         | 3,449   |   |               | $      | 8,028  |      |   | $      | 720     |   |   | $ | 12,197 |   |
| Asset impairments, net of gain on sale     |   |                      | 2,581   |   |               |   | 4,088  |      |   |   | — |   |   |   | 6,669 |   |
| Equipment moving expenses                  |   |                      | 724     |   |               |   | 498    |      |   |   | — |   |   |   | 1,222 |   |
| Lease termination expenses                 |   |                      | 3,986   |   |               |   | 610    |      |   |   | 179     |   |   |   | 4,775 |   |
| Multi-employer pension withdrawal expenses |   |                      | — |   |               |   | 11,303 |      |   |   | — |   |   |   | 11,303 |   |
| Building clean-up and other expenses       |   |                      | 1,181   |   |               |   | 483    |      |   |   | — |   |   |   | 1,664 |   |
| Total restructuring and impairment charges |   | $                         | 11,921  |   |               | $      | 25,010 |      |   | $      | 899     |   |   | $ | 37,830 |   |

|                       |   | LeaseTermination |   |   | EmployeeSeparationCosts |   |   | PensionWithdrawalLiabilities |   |   | BuildingClean-upandOtherExpenses |   |   | Total  |    |
|----------------------------|--------|------------------|--------|--------|-------------------------|--------|--------|------------------------------|--------|--------|----------------------------------|--------|--------|--------|---------|
| Balance at January 2, 2010 |   | $                | 2,224  |   |                    | $      | 3,403  |                         |   | $      | 11,303                           |   |   | $      | 140     |   |   | $ | 17,070 |   |
| Accruals, net              |   |             | 4,446  |   |                    |   | 6,119  |                         |   |   | 1,588                            |   |   |   | 2,994   |   |   |   | 15,147 |   |
| Payments                   |   |             | (2,656 | )      |                    |   | (6,734 | )                            |   |   | (45                              | )      |   |   | (3,134  | ) |   |   | (12,569 | ) |
| Balance at July 3, 2010    |   | $                | 4,014  |   |                    | $      | 2,788  |                         |   | $      | 12,846                           |   |   | $      | — |   |   | $ | 19,648 |   |

----

|                                       |   | Envelopes,Forms andLabels |   |   | CommercialPrinting |   |   | Total  |   |
|--------------------------------------------|--------|---------------------------|--------|--------|--------------------|--------|--------|--------|--------|
| Lease termination expenses (income)        |   | $                         | (2     | )      |               | $      | 223    |   |   | $ | 221 |   |
| Building clean-up and other expenses       |   |                      | 15     |   |               |   | 179    |   |   |   | 194 |   |
| Total restructuring and impairment charges |   | $                         | 13     |   |               | $      | 402    |   |   | $ | 415 |   |

|                                       |   | Envelopes,Forms andLabels |    |   | CommercialPrinting |   |   | Total  |   |
|--------------------------------------------|--------|---------------------------|---------|--------|--------------------|--------|--------|--------|--------|
| Asset impairments, net of gain on sale     |   | $                         | — |   |               | $      | 74     |   |   | $ | 74 |   |
| Lease termination expenses                 |   |                      | 66      |   |               |   | 42     |   |   |   | 108 |   |
| Building clean-up and other expenses       |   |                      | 29      |   |               |   | 287    |   |   |   | 316 |   |
| Total restructuring and impairment charges |   | $                         | 95      |   |               | $      | 403    |   |   | $ | 498 |   |

|                                                          |   | Envelopes,Forms andLabels |    |   | CommercialPrinting |   |   | Corporate |   |   | Total   |   |
|---------------------------------------------------------------|--------|---------------------------|---------|--------|--------------------|--------|--------|-----------|--------|--------|---------|--------|
| Employee separation costs                                     |   | $                         | 28      |   |               | $      | 24     |      |   | $      | — |   |   | $ | 52 |   |
| Asset impairments, net of gain on sale                        |   |                      | (76     | )      |               |   | (115   | )         |   |   | — |   |   |   | (191 | ) |
| Equipment moving expenses                                     |   |                      | — |   |               |   | 49     |      |   |   | — |   |   |   | 49 |   |
| Lease termination expenses (income)                           |   |                      | 18      |   |               |   | (546   | )         |   |   | — |   |   |   | (528 | ) |
| Multi-employer pension withdrawal expenses                    |   |                      | — |   |               |   | 2,122  |      |   |   | — |   |   |   | 2,122 |   |
| Building clean-up and other expenses                          |   |                      | 71      |   |               |   | 172    |      |   |   | 12      |   |   |   | 255 |   |
|     Total restructuring and impairment charges |   | $                         | 41      |   |               | $      | 1,706  |      |   | $      | 12      |   |   | $ | 1,759 |   |

|                                                          |   | Envelopes,Forms andLabels |    |   | CommercialPrinting |   |   | Corporate |   |   | Total   |   |
|---------------------------------------------------------------|--------|---------------------------|---------|--------|--------------------|--------|--------|-----------|--------|--------|---------|--------|
| Employee separation costs                                     |   | $                         | 89      |   |               | $      | 106    |      |   | $      | 29      |   |   | $ | 224 |   |
| Asset impairments, net of gain on sale                        |   |                      | (76     | )      |               |   | (98    | )         |   |   | — |   |   |   | (174 | ) |
| Equipment moving expenses                                     |   |                      | — |   |               |   | 57     |      |   |   | — |   |   |   | 57 |   |
| Lease termination expenses (income)                           |   |                      | 31      |   |               |   | (492   | )         |   |   | 3       |   |   |   | (458 | ) |
| Multi-employer pension withdrawal expenses                    |   |                      | — |   |               |   | 2,122  |      |   |   | — |   |   |   | 2,122 |   |
| Building clean-up and other expenses                          |   |                      | 80      |   |               |   | 364    |      |   |   | 30      |   |   |   | 474 |   |
|     Total restructuring and impairment charges |   | $                         | 124     |   |               | $      | 2,059  |      |   | $      | 62      |   |   | $ | 2,245 |   |

----

|                       |   | LeaseTermination |   |   | EmployeeSeparationCosts |   |    | PensionWithdrawalLiabilities |   |   | Building Clean-up and Other Expenses |   |   | Total  |    |
|----------------------------|--------|------------------|--------|--------|-------------------------|--------|---------|------------------------------|--------|--------|--------------------------------------|--------|--------|--------|---------|
| Balance at January 2, 2010 |   | $                | 1,641  |   |                    | $      | 1       |                         |   | $      | 3,156                                |   |   | $      | — |   |   | $ | 4,798 |   |
| Accruals, net              |   |             | 108    |   |                    |   | — |                         |   |   | —                              |   |   |   | 316     |   |   |   | 424 |   |
| Payments                   |   |             | (369   | )      |                    |   | (1      | )                            |   |   | —                              |   |   |   | (316    | ) |   |   | (686 | ) |
| Balance at July 3, 2010    |   | $                | 1,380  |   |                    | $      | — |                         |   | $      | 3,156                                |   |   | $      | — |   |   | $ | 4,536 |   |

|                                       |   | Envelopes,Forms andLabels |    |   | CommercialPrinting |   |    | Corporate |   |   | Total |   |
|--------------------------------------------|--------|---------------------------|---------|--------|--------------------|--------|---------|-----------|--------|--------|-------|--------|
| Lease termination expenses                 |   | $                         | — |   |               | $      | — |      |   | $      | 81    |   |   | $ | 81 |   |
| Building clean-up and other expenses       |   |                      | 9       |   |               |   | 64      |      |   |   | 67    |   |   |   | 140 |   |
| Total restructuring and impairment charges |   | $                         | 9       |   |               | $      | 64      |      |   | $      | 148   |   |   | $ | 221 |   |

|                                                |   | Envelopes,Forms andLabels |    |   | CommercialPrinting |   |   | Corporate |   |   | Total   |   |
|-----------------------------------------------------|--------|---------------------------|---------|--------|--------------------|--------|--------|-----------|--------|--------|---------|--------|
| Asset impairments, net of gain on sale              |   | $                         | — |   |               | $      | (165   | )         |   | $      | — |   |   | $ | (165 | ) |
| Lease termination expenses (income)                 |   |                      | (73     | )      |               |   | (50    | )         |   |   | 133     |   |   |   | 10 |   |
| Building clean-up and other expenses                |   |                      | 9       |   |               |   | 177    |      |   |   | 67      |   |   |   | 253 |   |
| Total restructuring and impairment charges (income) |   | $                         | (64     | )      |               | $      | (38    | )         |   | $      | 200     |   |   | $ | 98 |   |

----

|                                                |   | Envelopes,Forms andLabels |    |   | CommercialPrinting |   |   | Corporate |   |   | Total   |   |
|-----------------------------------------------------|--------|---------------------------|---------|--------|--------------------|--------|--------|-----------|--------|--------|---------|--------|
| Asset impairments, net of gain on sale              |   | $                         | — |   |               | $      | (10    | )         |   | $      | — |   |   | $ | (10 | ) |
| Lease termination expenses (income)                 |   |                      | 19      |   |               |   | 334    |      |   |   | (111    | )      |   |   | 242 |   |
| Building clean-up and other expenses                |   |                      | 188     |   |               |   | 461    |      |   |   | — |   |   |   | 649 |   |
| Total restructuring and impairment charges (income) |   | $                         | 207     |   |               | $      | 785    |      |   | $      | (111    | )      |   | $ | 881 |   |

|                                                |   | Envelopes,Forms andLabels |    |   | CommercialPrinting |   |   | Corporate |   |   | Total   |   |
|-----------------------------------------------------|--------|---------------------------|---------|--------|--------------------|--------|--------|-----------|--------|--------|---------|--------|
| Asset impairments, net of gain on sale              |   | $                         | — |   |               | $      | (10    | )         |   | $      | — |   |   | $ | (10 | ) |
| Lease termination expenses (income)                 |   |                      | (22     | )      |               |   | 354    |      |   |   | (44     | )      |   |   | 288 |   |
| Building clean-up and other expenses                |   |                      | 193     |   |               |   | 217    |      |   |   | — |   |   |   | 410 |   |
| Total restructuring and impairment charges (income) |   | $                         | 171     |   |               | $      | 561    |      |   | $      | (44     | )      |   | $ | 688 |   |

|                       |   | LeaseTerminationCosts |   |   | PensionWithdrawalLiabilities |   |    | BuildingClean-upand Other Expenses |   |   | Total   |   |
|----------------------------|--------|-----------------------|--------|--------|------------------------------|--------|---------|------------------------------------|--------|--------|---------|--------|
| Balance at January 2, 2010 |   | $                     | 1,678  |   |                         | $      | 88      |                               |   | $      | — |   |   | $ | 1,766 |   |
| Accruals, net              |   |                  | 10     |   |                         |   | — |                               |   |   | 253     |   |   |   | 263 |   |
| Payments                   |   |                  | (804   | )      |                         |   | (58     | )                                  |   |   | (253    | )      |   |   | (1,115 | ) |
| Balance at July 3, 2010    |   | $                     | 884    |   |                         | $      | 30      |                               |   | $      | — |   |   | $ | 914 |   |

|                                              |   | Three Months Ended |   |   |  Six Months Ended |   |
|---------------------------------------------------|--------|--------------------|--------|--------|------------------------|--------|
|                                              |   | July 3, 2010       |   |   | June 27, 2009          |   |   | July 3, 2010 |   |   | June 27, 2009 |   |
| Net loss                                          |   | $                  | (8,327 | )      |                   | $      | (18,252 | ) |   | $ | (19,435 | ) |   | $ | (22,563 | ) |
| Other comprehensive income (loss):                |   |               |   |   |                   |   |   |   |   |   |   |   |   |   |   |   |
| Unrealized gain on cash flow hedges, net of taxes |   |               | 3,294  |   |                   |   | 2,635 |   |   |   | 5,471 |   |   |   | 4,190 |   |
| Currency translation adjustment                   |   |               | (1,877 | )      |                   |   | 2,214 |   |   |   | (221 | ) |   |   | 1,514 |   |
| Comprehensive loss                                |   | $                  | (6,910 | )      |                   | $      | (13,403 | ) |   | $ | (14,185 | ) |   | $ | (16,859 | ) |

----

|                                                        |   | Three Months Ended |    |   | Six Months Ended |   |
|-------------------------------------------------------------|--------|--------------------|---------|--------|------------------|--------|
|                                                        |   | July 3,2010        |    |   | June 27,2009     |   |   | July 3,2010 |   |   | June 27,2009 |   |
| Numerator for basic and diluted loss per share              |   |               |    |   |             |   |   |   |   |   |   |   |
| Loss from continuing operations                             |   | $                  | (8,292  | )      |             | $      | (17,841 | ) |   | $ | (19,313 | ) |   | $ | (22,028 | ) |
| Loss from discontinued operations, net of taxes             |   |               | (35     | )      |             |   | (411 | ) |   |   | (122 | ) |   |   | (535 | ) |
| Net loss                                                    |   | $                  | (8,327  | )      |             | $      | (18,252 | ) |   | $ | (19,435 | ) |   | $ | (22,563 | ) |
|                                                        |   |               |    |   |             |   |   |   |   |   |   |   |   |   |   |   |
| Denominator for weighted average common shares outstanding: |   |               |    |   |             |   |   |   |   |   |   |   |   |   |   |   |
| Basic shares                                                |   |               | 62,216  |   |             |   | 54,551 |   |   |   | 62,166 |   |   |   | 54,456 |   |
| Dilutive effect of equity awards                            |   |               | — |   |             |   | — |   |   |   | — |   |   |   | — |   |
| Diluted shares                                              |   |               | 62,216  |   |             |   | 54,551 |   |   |   | 62,166 |   |   |   | 54,456 |   |
|                                                        |   |               |    |   |             |   |   |   |   |   |   |   |   |   |   |   |

----

|                                               |   |               |   |             |         |   |        |    |
|----------------------------------------------------|--------|--------------------|--------|------------------|--------------|--------|-------------|---------|
|                                               |   | Three Months Ended |   | Six Months Ended |         |
|                                               |   | July 3,2010        |   |             | June 27,2009 |   | July 3,2010 |    | June 27,2009 |   |
|                                               |   |               |   |             |         |   |        |    |   |   |   |   |
| Net sales:                                         |   |               |   |             |         |   |        |    |   |   |   |   |
| Envelopes, forms and labels                        | $      | 240,724            |   | $                | 186,677      |   | $           | 485,905 |   | $ | 369,108 |   |
| Commercial printing                                |   | 204,540            |   |             | 210,967      |   |        | 413,293 |   |   | 440,636 |   |
| Total                                              | $      | 445,264            |   | $                | 397,644      |   | $           | 899,198 |   | $ | 809,744 |   |
|                                               |   |               |   |             |         |   |        |    |   |   |   |   |
| Operating income (loss):                           |   |               |   |             |         |   |        |    |   |   |   |   |
| Envelopes, forms and labels                        | $      | 23,608             |   | $                | 16,457       |   | $           | 45,022  |   | $ | 26,932 |   |
| Commercial printing                                |   | 3,780              |   |             | (13,218      | )      |        | 3,587   |   |   | (13,857 | ) |
| Corporate                                          |   | (8,002             | )      |             | (8,716       | )      |        | (17,032 | ) |   | (18,331 | ) |
| Total                                              | $      | 19,386             |   | $                | (5,477       | )      | $           | 31,577  |   | $ | (5,256 | ) |
|                                               |   |               |   |             |         |   |        |    |   |   |   |   |
| Restructuring and impairment charges:              |   |               |   |             |         |   |        |    |   |   |   |   |
| Envelopes, forms and labels                        | $      | 4,308              |   | $                | 7,460        |   | $           | 7,894   |   | $ | 12,216 |   |
| Commercial printing                                |   | 6,765              |   |             | 23,771       |   |        | 12,308  |   |   | 27,630 |   |
| Corporate                                          |   | 403                |   |             | 800          |   |        | 901     |   |   | 917 |   |
| Total                                              | $      | 11,476             |   | $                | 32,031       |   | $           | 21,103  |   | $ | 40,763 |   |
|                                               |   |               |   |             |         |   |        |    |   |   |   |   |
| Net sales by product line:                         |   |               |   |             |         |   |        |    |   |   |   |   |
| Envelopes                                          | $      | 126,900            |   | $                | 129,340      |   | $           | 257,654 |   | $ | 256,015 |   |
| Commercial printing                                |   | 138,046            |   |             | 135,271      |   |        | 283,519 |   |   | 291,046 |   |
| Journals and periodicals                           |   | 66,313             |   |             | 73,650       |   |        | 129,410 |   |   | 146,983 |   |
| Labels and business forms                          |   | 114,005            |   |             | 59,383       |   |        | 228,615 |   |   | 115,700 |   |
| Total                                              | $      | 445,264            |   | $                | 397,644      |   | $           | 899,198 |   | $ | 809,744 |   |
|                                               |   |               |   |             |         |   |        |    |   |   |   |   |
| Intercompany sales:                                |   |               |   |             |         |   |        |    |   |   |   |   |
| Envelopes, forms and labels to commercial printing | $      | 1,063              |   | $                | 957          |   | $           | 2,345   |   | $ | 2,324 |   |
| Commercial printing to envelopes, forms and labels |   | 1,111              |   |             | 386          |   |        | 1,895   |   |   | 926 |   |
| Total                                              | $      | 2,174              |   | $                | 1,343        |   | $           | 4,240   |   | $ | 3,250 |   |
|                                               |   |               |   |             |         |   |        |    |   |   |   |   |

|                        |   | July 3,2010 |      |   | January 2,2010 |   |
|-----------------------------|--------|-------------|-----------|--------|----------------|--------|
|                        |   |        |      |   |           |   |
| Identifiable assets:        |   |        |      |   |           |   |
| Envelopes, forms and labels |   | $           | 681,331   |   |           | $      | 689,516 |   |
| Commercial printing         |   |        | 758,927   |   |           |   | 776,637 |   |
| Corporate                   |   |        | 113,131   |   |           |   | 59,620 |   |
| Total                       |   | $           | 1,553,389 |   |           | $      | 1,525,773 |   |

----

----

|                                                                              |   |    |          |   |       |   |      |         |   |   | Non-         |   |   |         |    |   |         |   |
|-----------------------------------------------------------------------------------|--------|---------|---------------|--------|------------|--------|-----------|--------------|--------|--------|--------------|--------|--------|--------------|---------|--------|--------------|--------|
|                                                                              |   | Parent  |          |   | Subsidiary |   |      | Guarantor    |   |   | Guarantor    |   |   |         |    |   |         |   |
|                                                                              |   | Company |          |   | Issuer     |   |      | Subsidiaries |   |   | Subsidiaries |   |   | Eliminations |    |   | Consolidated |   |
|                                                                              |   |    |          |   |       |   |      |         |   |   |         |   |   |         |    |   |         |   |
| Assets                                                                            |   |    |          |   |       |   |      |         |   |   |         |   |   |         |    |   |         |   |
| Current assets:                                                                   |   |    |          |   |       |   |      |         |   |   |         |   |   |         |    |   |         |   |
|     Cash and cash equivalents                                 |   | $       | —       |   |       | $      | 52,060    |         |   | $      | 2,061        |   |   | $            | 5,812   |   |         | $      | — |   |   | $ | 59,933 |   |
|     Accounts receivable, net                                  |   |    | —       |   |       |   | 96,669    |         |   |   | 145,244      |   |   |         | 4,536   |   |         |   | — |   |   |   | 246,449 |   |
|     Inventories                                               |   |    | —       |   |       |   | 69,854    |         |   |   | 74,461       |   |   |         | 1,513   |   |         |   | — |   |   |   | 145,828 |   |
|     Notes receivable from subsidiaries                        |   |    | —       |   |       |   | 46,438    |         |   |   | —      |   |   |         | — |   |         |   | (46,438 | ) |   |   | — |   |
|     Prepaid and other current assets                          |   |    | —       |   |       |   | 51,997    |         |   |   | 9,209        |   |   |         | 3,095   |   |         |   | — |   |   |   | 64,301 |   |
|         Total current assets              |   |    | —       |   |       |   | 317,018   |         |   |   | 230,975      |   |   |         | 14,956  |   |         |   | (46,438 | ) |   |   | 516,511 |   |
|                                                                              |   |    |          |   |       |   |      |         |   |   |         |   |   |         |    |   |         |   |   |   |   |   |   |   |
| Investment in subsidiaries                                                        |   |    | (183,789      | )      |       |   | 1,578,939 |         |   |   | 7,429        |   |   |         | 6,725   |   |         |   | (1,409,304 | ) |   |   | — |   |
| Property, plant and equipment, net                                                |   |    | —       |   |       |   | 117,303   |         |   |   | 248,875      |   |   |         | 1,362   |   |         |   | — |   |   |   | 367,540 |   |
| Goodwill                                                                          |   |    | —       |   |       |   | 33,144    |         |   |   | 296,727      |   |   |         | 6,298   |   |         |   | — |   |   |   | 336,169 |   |
| Other intangible assets, net                                                      |   |    | —       |   |       |   | 7,389     |         |   |   | 283,482      |   |   |         | 2,400   |   |         |   | — |   |   |   | 293,271 |   |
| Other assets, net                                                                 |   |    | —       |   |       |   | 33,732    |         |   |   | 5,698        |   |   |         | 468     |   |         |   | — |   |   |   | 39,898 |   |
|     Total assets                                              |   | $       | (183,789      | )      |       | $      | 2,087,525 |         |   | $      | 1,073,186    |   |   | $            | 32,209  |   |         | $      | (1,455,742 | ) |   | $ | 1,553,389 |   |
|                                                                              |   |    |          |   |       |   |      |         |   |   |         |   |   |         |    |   |         |   |   |   |   |   |   |   |
| Liabilities and Shareholders’ (Deficit) Equity                              |   |    |          |   |       |   |      |         |   |   |         |   |   |         |    |   |         |   |   |   |   |
| Current liabilities:                                                              |   |    |          |   |       |   |      |         |   |   |         |   |   |         |    |   |         |   |   |   |   |   |   |   |
|     Current maturities of long-term debt                      |   | $       | —       |   |       | $      | 3,928     |         |   | $      | 7,071        |   |   | $            | — |   |         | $      | — |   |   | $ | 10,999 |   |
|     Accounts payable                                          |   |    | —       |   |       |   | 94,193    |         |   |   | 71,556       |   |   |         | 1,833   |   |         |   | — |   |   |   | 167,582 |   |
|     Accrued compensation and related liabilities              |   |    |  — |   |       |   | 15,032    |         |   |   | 12,658       |   |   |         | 225     |   |         |   |  — |   |   |   | 27,915 |   |
|     Other current liabilities                                 |   |    | —       |   |       |   | 85,981    |         |   |   | 21,332       |   |   |         | 2,843   |   |         |   | — |   |   |   | 110,156 |   |
|     Intercompany payable (receivable)                         |   |    | —       |   |       |   | 760,703   |         |   |   | (765,244     | )      |   |         | 4,541   |   |         |   | — |   |   |   | — |   |
|     Notes payable to issuer                                   |   |    | —       |   |       |   | —   |         |   |   | 36,938       |   |   |         | 9,500   |   |         |   | (46,438 | ) |   |   | — |   |
|         Total current liabilities         |   |    | —       |   |       |   | 959,837   |         |   |   | (615,689     | )      |   |         | 18,942  |   |         |   | (46,438 | ) |   |   | 316,652 |   |
|                                                                              |   |    |          |   |       |   |      |         |   |   |         |   |   |         |    |   |         |   |   |   |   |   |   |   |
| Long-term debt                                                                    |   |    | —       |   |       |   | 1,263,953 |         |   |   | 17,754       |   |   |         | — |   |         |   | — |   |   |   | 1,281,707 |   |
| Other liabilities                                                                 |   |    | —       |   |       |   | 47,524    |         |   |   | 92,182       |   |   |         | (887    | )      |         |   | — |   |   |   | 138,819 |   |
| Shareholders’ (deficit) equity                                              |   |    | (183,789      | )      |       |   | (183,789  | )            |   |   | 1,578,939    |   |   |         | 14,154  |   |         |   | (1,409,304 | ) |   |   | (183,789 | ) |
|     Total liabilities and shareholders’ (deficit)equity |   | $       | (183,789      | )      |       | $      | 2,087,525 |         |   | $      | 1,073,186    |   |   | $            | 32,209  |   |         | $      | (1,455,742 | ) |   | $ | 1,553,389 |   |

----

|                                                                                                                                |   | Parent  |    |   | Subsidiary |   |    | Guarantor    |   |   | Non-Guarantor |   |   |         |    |   |         |   |
|-------------------------------------------------------------------------------------------------------------------------------------|--------|---------|---------|--------|------------|--------|---------|--------------|--------|--------|---------------|--------|--------|--------------|---------|--------|--------------|--------|
|                                                                                                                                |   | Company |    |   | Issuer     |   |    | Subsidiaries |   |   | Subsidiaries  |   |   | Eliminations |    |   | Consolidated |   |
|                                                                                                                                |   |    |    |   |       |   |    |         |   |   |          |   |   |         |    |   |         |   |
| Net sales                                                                                                                           |   | $       | — |   |       | $      | 170,419 |         |   | $      | 268,563       |   |   | $            | 6,282   |   |         | $      | — |   |   | $ | 445,264 |   |
| Cost of sales                                                                                                                       |   |    | — |   |       |   | 139,793 |         |   |   | 215,895       |   |   |         | 4,329   |   |         |   | — |   |   |   | 360,017 |   |
| Selling, general and administrative expenses                                                                                        |   |    | — |   |       |   | 26,415  |         |   |   | 24,868        |   |   |         | 201     |   |         |   | — |   |   |   | 51,484 |   |
| Amortization of intangible assets                                                                                                   |   |    | — |   |       |   | 101     |         |   |   | 2,800         |   |   |         | — |   |         |   | — |   |   |   | 2,901 |   |
| Restructuring and impairment charges                                                                                                |   |    | — |   |       |   | 6,266   |         |   |   | 5,210         |   |   |         | — |   |         |   | — |   |   |   | 11,476 |   |
|   Operating income (loss)                                                                                                 |   |    | — |   |       |   | (2,156  | )            |   |   | 19,790        |   |   |         | 1,752   |   |         |   | — |   |   |   | 19,386 |   |
| Interest expense (income), net                                                                                                      |   |    | — |   |       |   | 31,219  |         |   |   | 278           |   |   |         | (5      | )      |         |   | — |   |   |   | 31,492 |   |
| Intercompany interest expense (income)                                                                                              |   |    | — |   |       |   | (254    | )            |   |   | 254           |   |   |         | — |   |         |   | — |   |   |   | — |   |
| Other (income) expense, net                                                                                                         |   |    | — |   |       |   | 186     |         |   |   | 206           |   |   |         | (87     | )      |         |   | — |   |   |   | 305 |   |
|   Income (loss) from continuing operations before income taxes and equity in income (loss) of unconsolidated subsidiaries |   |    | — |   |       |   | (33,307 | )            |   |   | 19,052        |   |   |         | 1,844   |   |         |   | — |   |   |   | (12,411 | ) |
| Income tax expense (benefit)                                                                                                        |   |    | — |   |       |   | (5,559  | )            |   |   | 1,364         |   |   |         | 76      |   |         |   | — |   |   |   | (4,119 | ) |
|   Income (loss) from continuing operations before equity in income of unconsolidated subsidiaries                         |   |    | — |   |       |   | (27,748 | )            |   |   | 17,688        |   |   |         | 1,768   |   |         |   | — |   |   |   | (8,292 | ) |
| Equity in income (loss) of unconsolidated subsidiaries                                                                              |   |    | (8,327  | )      |       |   | 19,456  |         |   |   | 1,768         |   |   |         | — |   |         |   | (12,897 | ) |   |   | — |   |
|   Income (loss) from continuing operations                                                                                |   |    | (8,327  | )      |       |   | (8,292  | )            |   |   | 19,456        |   |   |         | 1,768   |   |         |   | (12,897 | ) |   |   | (8,292 | ) |
| Loss from discontinued operations, net of taxes                                                                                     |   |    | — |   |       |   | (35     | )            |   |   | —       |   |   |         | — |   |         |   | — |   |   |   | (35 | ) |
| Net income (loss)                                                                                                                   |   | $       | (8,327  | )      |       | $      | (8,327  | )            |   | $      | 19,456        |   |   | $            | 1,768   |   |         | $      | (12,897 | ) |   | $ | (8,327 | ) |

----

|                                                                                                                                |   | Parent  |    |   | Subsidiary |   |    | Guarantor    |   |   | Non-Guarantor |   |   |         |    |   |         |   |
|-------------------------------------------------------------------------------------------------------------------------------------|--------|---------|---------|--------|------------|--------|---------|--------------|--------|--------|---------------|--------|--------|--------------|---------|--------|--------------|--------|
|                                                                                                                                |   | Company |    |   | Issuer     |   |    | Subsidiaries |   |   | Subsidiaries  |   |   | Eliminations |    |   | Consolidated |   |
|                                                                                                                                |   |    |    |   |       |   |    |         |   |   |          |   |   |         |    |   |         |   |
| Net sales                                                                                                                           |   | $       | — |   |       | $      | 350,272 |         |   | $      | 537,805       |   |   | $            | 11,121  |   |         | $      | — |   |   | $ | 899,198 |   |
| Cost of sales                                                                                                                       |   |    | — |   |       |   | 294,111 |         |   |   | 433,533       |   |   |         | 7,563   |   |         |   | — |   |   |   | 735,207 |   |
| Selling, general and administrative expenses                                                                                        |   |    | — |   |       |   | 54,586  |         |   |   | 50,615        |   |   |         | 325     |   |         |   | — |   |   |   | 105,526 |   |
| Amortization of intangible assets                                                                                                   |   |    | — |   |       |   | 204     |         |   |   | 5,581         |   |   |         | — |   |         |   | — |   |   |   | 5,785 |   |
| Restructuring and impairment charges                                                                                                |   |    | — |   |       |   | 10,109  |         |   |   | 10,994        |   |   |         | — |   |         |   | — |   |   |   | 21,103 |   |
|   Operating income (loss)                                                                                                 |   |    | — |   |       |   | (8,738  | )            |   |   | 37,082        |   |   |         | 3,233   |   |         |   | — |   |   |   | 31,577 |   |
| Interest expense (income), net                                                                                                      |   |    | — |   |       |   | 60,479  |         |   |   | 634           |   |   |         | (7      | )      |         |   | — |   |   |   | 61,106 |   |
| Intercompany interest expense (income)                                                                                              |   |    | — |   |       |   | (495    | )            |   |   | 495           |   |   |         | — |   |         |   | — |   |   |   | — |   |
| Loss on early extinguishment of debt                                                                                                |   |    | — |   |       |   | 2,598   |         |   |   | —       |   |   |         | — |   |         |   | — |   |   |   | 2,598 |   |
| Other expense, net                                                                                                                  |   |    | — |   |       |   | 302     |         |   |   | 659           |   |   |         | 71      |   |         |   | — |   |   |   | 1,032 |   |
|   Income (loss) from continuing operations before income taxes and equity in income (loss) of unconsolidated subsidiaries |   |    | — |   |       |   | (71,622 | )            |   |   | 35,294        |   |   |         | 3,169   |   |         |   | — |   |   |   | (33,159 | ) |
| Income tax expense (benefit)                                                                                                        |   |    | — |   |       |   | (18,229 | )            |   |   | 4,312         |   |   |         | 71      |   |         |   | — |   |   |   | (13,846 | ) |
|   Income (loss) from continuing operations before equity in income of unconsolidated subsidiaries                         |   |    | — |   |       |   | (53,393 | )            |   |   | 30,982        |   |   |         | 3,098   |   |         |   | — |   |   |   | (19,313 | ) |
| Equity in income (loss) of unconsolidated subsidiaries                                                                              |   |    | (19,435 | )      |       |   | 34,080  |         |   |   | 3,098         |   |   |         | — |   |         |   | (17,743 | ) |   |   | — |   |
|   Income (loss) from continuing operations                                                                                |   |    | (19,435 | )      |       |   | (19,313 | )            |   |   | 34,080        |   |   |         | 3,098   |   |         |   | (17,743 | ) |   |   | (19,313 | ) |
| Loss from discontinued operations, net of taxes                                                                                     |   |    | — |   |       |   | (122    | )            |   |   | —       |   |   |         | — |   |         |   | — |   |   |   | (122 | ) |
| Net income (loss)                                                                                                                   |   | $       | (19,435 | )      |       | $      | (19,435 | )            |   | $      | 34,080        |   |   | $            | 3,098   |   |         | $      | (17,743 | ) |   | $ | (19,435 | ) |

----

|                                                                                                          |   | Parent  |    |   | Subsidiary |   |     | Guarantor    |   |   | Non-Guarantor |   |   |         |    |    |         |   |
|---------------------------------------------------------------------------------------------------------------|--------|---------|---------|--------|------------|--------|----------|--------------|--------|--------|---------------|--------|--------|--------------|---------|---------|--------------|--------|
|                                                                                                          |   | Company |    |   | Issuer     |   |     | Subsidiaries |   |   | Subsidiaries  |   |   | Eliminations |    |    | Consolidated |   |
| Cash flows from operating activities:                                                                         |   |    |    |   |       |   |     |         |   |   |          |   |   |         |    |    |         |   |
|         Net cash provided by (used in) operating activities           |   | $       | 5,625   |   |       | $      | (39,182  | )       |   | $      | 57,441        |   |   | $            | 5,711   |    |         | $      | — |   |   | $ | 29,595 |   |
| Cash flows from investing activities:                                                                         |   |    |    |   |       |   |     |         |   |   |          |   |   |         |    |    |         |   |   |   |   |   |   |   |
|       Cost of business acquisitions, net of cash acquired                       |   |    | — |   |       |   | (10,283  | )            |   |   | —       |   |   |         | (11,200 | )  |         |   | — |   |   |   | (21,483 | ) |
|       Capital expenditures                                                      |   |    | — |   |       |   | (3,081   | )            |   |   | (5,155        | )      |   |         | — |    |         |   | — |   |   |   | (8,236 | ) |
|       Intercompany note                                                         |   |    | — |   |       |   | (9,500   | )            |   |   | —       |   |   |         | — |    |         |   | 9,500 |   |   |   | — |   |
|       Proceeds from sale of property, plant and equipment                       |   |    | — |   |       |   | 1,025    |         |   |   | 451           |   |   |         | — |    |         |   | — |   |   |   | 1,476 |   |
|         Net cash (used in) provided by investing activities |   |    | — |   |       |   | (21,839  | )            |   |   | (4,704        | )      |   |         | (11,200 | )  |         |   | 9,500 |   |   |   | (28,243 | ) |
| Cash flows from financing activities:                                                                         |   |    |    |   |       |   |     |         |   |   |          |   |   |         |    |    |         |   |   |   |   |   |   |   |
|       Proceeds from issuance of 87⁄8% senior second lien notes              |   |    | — |   |       |   | 397,204  |         |   |   | —       |   |   |         | — |    |         |   | — |   |   |   | 397,204 |   |
|       Proceeds from exercise of stock options                                   |   |    | 1,281   |   |       |   | —  |         |   |   | —       |   |   |         | — |    |         |   | — |   |   |   | 1,281 |   |
|       Repayment of term loans                                                   |   |    | — |   |       |   | (311,944 | )            |   |   | —       |   |   |         | — |    |         |   | — |   |   |   | (311,944 | ) |
|       Repayments under revolving credit facility, net                           |   |    | — |   |       |   | (22,500  | )            |   |   | —       |   |   |         | — |    |         |   | — |   |   |   | (22,500 | ) |
| Payment of refinancing or repurchase fees, redemption premiums and expenses                              |   |    | — |   |       |   | (13,009  | )            |   |   | —       |   |   |         | — |    |         |   | — |   |   |   | (13,009 | ) |
|       Repayments of other long-term debt                                        |   |    | — |   |       |   | (43      | )            |   |   | (4,021        | )      |   |         | — |    |         |   | — |   |   |   | (4,064 | ) |
|       Intercompany note                                                         |   |    | — |   |       |   | —  |         |   |   | —       |   |   |         | 9,500   |    |         |   | (9,500 | ) |   |   | — |   |
|       Intercompany advances                                                     |   |    | (6,906  | )      |       |   | 54,402   |         |   |   | (47,284       | )      |   |         | (212    | )       |         |   | — |   |   |   | — |   |
|         Net cash (used in) provided by financing activities           |   |    | (5,625  | )      |       |   | 104,110  |         |   |   | (51,305       | )      |   |         | 9,288   |    |         |   | (9,500 | ) |   |   | 46,968 |   |
| Effect of exchange rate changes on cash and cash equivalents                                                  |   |    | — |   |       |   | —  |         |   |   | (135          | )      |   |         | 952     |    |         |   | — |   |   |   | 817 |   |
|         Net increase in cash and cash equivalents                     |   |    | — |   |       |   | 43,089   |         |   |   | 1,297         |   |   |         | 4,751   |    |         |   | — |   |   |   | 49,137 |   |
| Cash and cash equivalents at beginning of period                                                              |   |    | — |   |       |   | 8,971    |         |   |   | 764           |   |   |         | 1,061   |    |         |   | — |   |   |   | 10,796 |   |
| Cash and cash equivalents at end of period                                                                    |   | $       | — |   |       | $      | 52,060   |         |   | $      | 2,061         |   |   | $            | 5,812   |    |         | $      | — |   |   | $ | 59,933 |   |

----

|                                                                      |   | 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                                                                                                                    |   | $       | —  |   |       | $      | 179,734 |         |   | $      | 213,260       |   |   | $            | 4,650   |   |         | $      | — |   |   | $ | 397,644 |   |
| Cost of sales                                                                                                                |   |    | —  |   |       |   | 150,489 |         |   |   | 166,507       |   |   |         | 3,369   |   |         |   | — |   |   |   | 320,365 |   |
| Selling, general and administrative expenses                                                                                 |   |    | —  |   |       |   | 28,308  |         |   |   | 19,975        |   |   |         | 87      |   |         |   | — |   |   |   | 48,370 |   |
| Amortization of intangible assets                                                                                            |   |    | —  |   |       |   | 108     |         |   |   | 2,247         |   |   |         | — |   |         |   | — |   |   |   | 2,355 |   |
| Restructuring and impairment charges                                                                                         |   |    | —  |   |       |   | 19,384  |         |   |   | 12,647        |   |   |         | — |   |         |   | — |   |   |   | 32,031 |   |
|   Operating income (loss)                                                                                          |   |    | —  |   |       |   | (18,555 | )            |   |   | 11,884        |   |   |         | 1,194   |   |         |   | — |   |   |   | (5,477 | ) |
| Interest expense (income), net                                                                                               |   |    | —  |   |       |   | 27,271  |         |   |   | 546           |   |   |         | (10     | )      |         |   | — |   |   |   | 27,807 |   |
| Intercompany interest expense (income)                                                                                       |   |    | —  |   |       |   | (304    | )            |   |   | 304           |   |   |         | — |   |         |   | — |   |   |   | — |   |
| Loss on early extinguishment of debt                                                                                         |   |    | —  |   |       |   | 725     |         |   |   | —       |   |   |         | — |   |         |   | — |   |   |   | 725 |   |
| Other (income) expense, net                                                                                                  |   |    | —  |   |       |   | 204     |         |   |   | (3,271        | )      |   |         | 446     |   |         |   | — |   |   |   | (2,621 | ) |
|   Income (loss) from continuing operations before income taxes and equity in income of unconsolidated subsidiaries |   |    | —  |   |       |   | (46,451 | )            |   |   | 14,305        |   |   |         | 758     |   |         |   | — |   |   |   | (31,388 | ) |
| Income tax expense (benefit)                                                                                                 |   |    | —  |   |       |   | (13,768 | )            |   |   | (925          | )      |   |         | 1,146   |   |         |   | — |   |   |   | (13,547 | ) |
|   Income (loss) from continuing operations before equity in income of unconsolidated subsidiaries                  |   |    | —  |   |       |   | (32,683 | )            |   |   | 15,230        |   |   |         | (388    | )      |         |   | — |   |   |   | (17,841 | ) |
| Equity in income of unconsolidated subsidiaries                                                                              |   |    | (18,252  | )      |       |   | 14,842  |         |   |   | (388          | )      |   |         | — |   |         |   | 3,798 |   |   |   | — |   |
|   Income (loss) from continuing operations                                                                         |   |    | (18,252  | )      |       |   | (17,841 | )            |   |   | 14,842        |   |   |         | (388    | )      |         |   | 3,798 |   |   |   | (17,841 | ) |
| Loss from discontinued operations, net of taxes                                                                              |   |    | —  |   |       |   | (411    | )            |   |   | —       |   |   |         | — |   |         |   | — |   |   |   | (411 | ) |
| Net income (loss)                                                                                                            |   | $       | ( 18,252 | )      |       | $      | (18,252 | )            |   | $      | 14,842        |   |   | $            | (388    | )      |         | $      | 3,798 |   |   | $ | (18,252 | ) |

----

|                                                                                                                         |   | Parent  |    |   | Subsidiary |   |    | Guarantor    |   |   | Non-Guarantor |   |   |         |    |   |         |   |
|------------------------------------------------------------------------------------------------------------------------------|--------|---------|---------|--------|------------|--------|---------|--------------|--------|--------|---------------|--------|--------|--------------|---------|--------|--------------|--------|
|                                                                                                                         |   | Company |    |   | Issuer     |   |    | Subsidiaries |   |   | Subsidiaries  |   |   | Eliminations |    |   | Consolidated |   |
|                                                                                                                         |   |    |    |   |       |   |    |         |   |   |          |   |   |         |    |   |         |   |
| Net sales                                                                                                                    |   | $       | — |   |       | $      | 374,600 |         |   | $      | 425,702       |   |   | $            | 9,442   |   |         | $      | — |   |   | $ | 809,744 |   |
| Cost of sales                                                                                                                |   |    | — |   |       |   | 317,132 |         |   |   | 345,338       |   |   |         | 6,211   |   |         |   | — |   |   |   | 668,681 |   |
| Selling, general and administrative expenses                                                                                 |   |    | — |   |       |   | 59,692  |         |   |   | 41,003        |   |   |         | 190     |   |         |   | — |   |   |   | 100,885 |   |
| Amortization of intangible assets                                                                                            |   |    | — |   |       |   | 209     |         |   |   | 4,462         |   |   |         | — |   |         |   | — |   |   |   | 4,671 |   |
| Restructuring and impairment charges                                                                                         |   |    | — |   |       |   | 23,613  |         |   |   | 17,150        |   |   |         | — |   |         |   | — |   |   |   | 40,763 |   |
|   Operating income (loss)                                                                                          |   |    | — |   |       |   | (26,046 | )            |   |   | 17,749        |   |   |         | 3,041   |   |         |   | — |   |   |   | (5,256 | ) |
| Interest expense (income), net                                                                                               |   |    | — |   |       |   | 49,506  |         |   |   | 882           |   |   |         | (36     | )      |         |   | — |   |   |   | 50,352 |   |
| Intercompany interest expense (income)                                                                                       |   |    | — |   |       |   | (588    | )            |   |   | 588           |   |   |         | — |   |         |   | — |   |   |   | — |   |
| Gain on early extinguishment of debt                                                                                         |   |    | — |   |       |   | (16,917 | )            |   |   | —       |   |   |         | — |   |         |   | — |   |   |   | (16,917 | ) |
| Other (income) expense, net                                                                                                  |   |    | — |   |       |   | 452     |         |   |   | (3,217        | )      |   |         | 179     |   |         |   | — |   |   |   | (2,586 | ) |
|   Income (loss) from continuing operations before income taxes and equity in income of unconsolidated subsidiaries |   |    | — |   |       |   | (58,499 | )            |   |   | 19,496        |   |   |         | 2,898   |   |         |   | — |   |   |   | (36,105 | ) |
| Income tax expense (benefit)                                                                                                 |   |    | — |   |       |   | (16,130 | )            |   |   | 853           |   |   |         | 1,200   |   |         |   | — |   |   |   | (14,077 | ) |
|   Income (loss) from continuing operations before equity in income of unconsolidated subsidiaries                  |   |    | — |   |       |   | (42,369 | )            |   |   | 18,643        |   |   |         | 1,698   |   |         |   | — |   |   |   | (22,028 | ) |
| Equity in income of unconsolidated subsidiaries                                                                              |   |    | (22,563 | )      |       |   | 20,341  |         |   |   | 1,698         |   |   |         | — |   |         |   | 524 |   |   |   | — |   |
|   Income (loss) from continuing operations                                                                         |   |    | (22,563 | )      |       |   | (22,028 | )            |   |   | 20,341        |   |   |         | 1,698   |   |         |   | 524 |   |   |   | (22,028 | ) |
| Loss from discontinued operations, net of taxes                                                                              |   |    | — |   |       |   | (535    | )            |   |   | —       |   |   |         | — |   |         |   | — |   |   |   | (535 | ) |
| Net income (loss)                                                                                                            |   | $       | (22,563 | )      |       | $      | (22,563 | )            |   | $      | 20,341        |   |   | $            | 1,698   |   |         | $      | 524 |   |   | $ | (22,563 | ) |

----

|                                                                                                 |   | Parent  |    |   | Subsidiary |   |    | Guarantor    |   |   | Non-Guarantor |   |   |         |    |   |         |   |
|------------------------------------------------------------------------------------------------------|--------|---------|---------|--------|------------|--------|---------|--------------|--------|--------|---------------|--------|--------|--------------|---------|--------|--------------|--------|
|                                                                                                 |   | Company |    |   | Issuer     |   |    | Subsidiaries |   |   | Subsidiaries  |   |   | Eliminations |    |   | Consolidated |   |
| Cash flows from operating activities:                                                                |   |    |    |   |       |   |    |         |   |   |          |   |   |         |    |   |         |   |
|         Net cash provided by (used in) operating activities  |   | $       | 6,856   |   |       | $      | (38,622 | )            |   | $      | 49,537        |   |   | $            | 4,266   |   |         | $      | — |   |   | $ | 22,037 |   |
| Cash flows from investing activities:                                                                |   |    |    |   |       |   |    |         |   |   |          |   |   |         |    |   |         |   |   |   |   |   |   |   |
|       Capital expenditures                                             |   |    | — |   |       |   | (6,431  | )            |   |   | (9,644        | )      |   |         | — |   |         |   | — |   |   |   | (16,075 | ) |
|       Intercompany note                                                |   |    | — |   |       |   | 2,257   |         |   |   | —       |   |   |         | — |   |         |   | (2,257 | ) |   |   | — |   |
|       Investment in guarantor subsidiary preferred shares              |   |    | — |   |       |   | — |         |   |   | —       |   |   |         | (6,725  | )      |         |   | 6,725 |   |   |   | — |   |
|       Proceeds from sale of property, plant and equipment              |   |    | — |   |       |   | 4,759   |         |   |   | 400           |   |   |         | — |   |         |   | — |   |   |   | 5,159 |   |
|       Proceeds from sale of investment                                 |   |    | — |   |       |   | — |         |   |   | 4,032         |   |   |         | — |   |         |   | — |   |   |   | 4,032 |   |
|         Net cash (used in) provided by investing activities  |   |    | — |   |       |   | 585     |         |   |   | (5,212        | )      |   |         | (6,725  | )      |         |   | 4,468 |   |   |   | (6,884 | ) |
| Cash flows from financing activities:                                                                |   |    |    |   |       |   |    |         |   |   |          |   |   |         |    |   |         |   |   |   |   |   |   |   |
|       Repayment of term loans                                          |   |    | — |   |       |   | (21,083 | )            |   |   | —       |   |   |         | — |   |         |   | — |   |   |   | (21,083 | ) |
|       Repayment of 83⁄8% senior subordinated notes                 |   |    | — |   |       |   | (23,024 | )            |   |   | —       |   |   |         | — |   |         |   | — |   |   |   | (23,024 | ) |
|       Payment of amendment and debt issuance costs                     |   |    | — |   |       |   | (7,296  | )            |   |   | —       |   |   |         | — |   |         |   | — |   |   |   | (7,296 | ) |
|       Repayment of 101⁄2% senior notes                              |   |    | — |   |       |   | (3,250  | )            |   |   | —       |   |   |         | — |   |         |   | — |   |   |   | (3,250 | ) |
|       Repayment of 77⁄8% senior subordinated notes                 |   |    | — |   |       |   | (4,295  | )            |   |   | —       |   |   |         | — |   |         |   | — |   |   |   | (4,295 | ) |
|       Repayments of other long-term debt                               |   |    | — |   |       |   | (343    | )            |   |   | (4,527        | )      |   |         | — |   |         |   | — |   |   |   | (4,870 | ) |
|       Purchase and retirement of common stock upon vesting of RSUs     |   |    | (478    | )      |       |   | — |         |   |   | —       |   |   |         | — |   |         |   | — |   |   |   | (478 | ) |
|       Payment of refinancing fees, redemption, premiums and expenses   |   |    | — |   |       |   | (94     | )            |   |   | —       |   |   |         | — |   |         |   | — |   |   |   | (94 | ) |
|       Borrowings under revolving credit facility, net                  |   |    | — |   |       |   | 47,200  |         |   |   | —       |   |   |         | — |   |         |   | — |   |   |   | 47,200 |   |
|       Proceeds from issuance of preferred shares                       |   |    | — |   |       |   | — |         |   |   | 6,725         |   |   |         | — |   |         |   | (6,725 | ) |   |   | — |   |
|       Intercompany note                                                |   |    | — |   |       |   | — |         |   |   | (2,257        | )      |   |         | — |   |         |   | 2,257 |   |   |   | — |   |
|       Intercompany advances                                            |   |    | (6,378  | )      |       |   | 51,123  |         |   |   | (44,730       | )      |   |         | (15     | )      |         |   | — |   |   |   | — |   |
|         Net cash (used in) provided by financing activities  |   |    | (6,856  | )      |       |   | 38,938  |         |   |   | (44,789       | )      |   |         | (15     | )      |         |   | (4,468 | ) |   |   | (17,190 | ) |
| Effect of exchange rate changes on cash and cash equivalents                                         |   |    | — |   |       |   | — |         |   |   | (42           | )      |   |         | — |   |         |   | — |   |   |   | (42 | ) |
|         Net (decrease) increase in cash and cash equivalents |   |    | — |   |       |   | 901     |         |   |   | (506          | )      |   |         | (2,474  | )      |         |   | — |   |   |   | (2,079 | ) |
| Cash and cash equivalents at beginning of period                                                     |   |    | — |   |       |   | 4,715   |         |   |   | 1,053         |   |   |         | 4,676   |   |         |   | — |   |   |   | 10,444 |   |
| Cash and cash equivalents at end of period                                                           |   | $       | — |   |       | $      | 5,616   |         |   | $      | 547           |   |   | $            | 2,202   |   |         | $      | — |   |   | $ | 8,365 |   |

----

 Item 2.  Management’s Discussion and Analysis of Financial Condition and Results of Operations

----

|   | · | 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. |
|--------|--------|-----------------------------------------------------------------------------------------------------------|

----

----

|                                                |   |                                    |    |   |                                    |   |    |         |   |   |          |    |   |
|-----------------------------------------------------|--------|-----------------------------------------|---------|--------|-----------------------------------------|--------|---------|--------------|--------|--------|---------------|---------|--------|
|                                                |   | Three Months Ended                      |    |   | Six Months Ended                        |   |
|                                                |   | July 3, 2010                            |    |   | June 27, 2009                           |   |    | July 3, 2010 |   |   | June 27, 2009 |    |
|                                                |   | (in thousands, exceptper share amounts) |    |   | (in thousands, exceptper share amounts) |   |
|                                                |   |                                    |    |   |                                    |   |    |         |   |   |          |    |   |
| Net sales                                           |   | $                                       | 445,264 |   |                                    | $      | 397,644 |         |   |   | $             | 899,198 |   |   | $ | 809,744 |   |   |
| Operating income (loss):                            |   |                                    |    |   |                                    |   |    |         |   |   |          |    |   |   |   |   |   |   |
| Envelopes, forms and labels                         |   |                                    | 23,608  |   |                                    |   | 16,457  |         |   |   |          | 45,022  |   |   |   | 26,932 |   |   |
| Commercial printing                                 |   |                                    | 3,780   |   |                                    |   | (13,218 | )            |   |   |          | 3,587   |   |   |   | (13,857 | ) |   |
| Corporate                                           |   |                                    | (8,002  | )      |                                    |   | (8,716  | )            |   |   |          | (17,032 | )      |   |   | (18,331 | ) |   |
| Total operating income (loss)                       |   |                                    | 19,386  |   |                                    |   | (5,477  | )            |   |   |          | 31,577  |   |   |   | (5,256 | ) |   |
| Interest expense, net                               |   |                                    | 31,492  |   |                                    |   | 27,807  |         |   |   |          | 61,106  |   |   |   | 50,352 |   |   |
| (Gain) loss on early extinguishment of debt         |   |                                    | — |   |                                    |   | 725     |         |   |   |          | 2,598   |   |   |   | (16,917 | ) |   |
| Other (income) expense, net                         |   |                                    | 305     |   |                                    |   | (2,621  | )            |   |   |          | 1,032   |   |   |   | (2,586 | ) |   |
| Loss from continuing operations before income taxes |   |                                    | (12,411 | )      |                                    |   | (31,388 | )            |   |   |          | (33,159 | )      |   |   | (36,105 | ) |   |
| Income tax benefit                                  |   |                                    | (4,119  | )      |                                    |   | (13,547 | )            |   |   |          | (13,846 | )      |   |   | (14,077 | ) |   |
| Loss from continuing operations                     |   |                                    | (8,292  | )      |                                    |   | (17,841 | )            |   |   |          | (19,313 | )      |   |   | (22,028 | ) |   |
| Loss from discontinued operations, net of taxes     |   |                                    | (35     | )      |                                    |   | (411    | )            |   |   |          | (122    | )      |   |   | (535 | ) |   |
| Net loss                                            |   | $                                       | (8,327  | )      |                                    | $      | (18,252 | )            |   |   | $             | (19,435 | )      |   | $ | (22,563 | ) |   |
| Loss per share—basic and diluted:             |   |                                    |    |   |                                    |   |    |         |   |   |          |    |   |   |   |   |   |   |
| Continuing operations                               |   | $                                       | (0.13   | )      |                                    | $      | (0.33   | )            |   |   | $             | (0.31   | )      |   | $ | (0.40 | ) |   |
| Discontinued operations                             |   |                                    | — |   |                                    |   | (0.01   | )            |   |   |          | — |   |   |   | (0.01 | ) |   |
| Net loss                                            |   | $                                       | (0.13   | )      |                                    | $      | (0.34   | )            |   |   | $             | (0.31   | )      |   | $ | (0.41 | ) |   |

----

|                                      |   | Three Months Ended |   |   | Six Months Ended |   |
|-------------------------------------------|--------|--------------------|--------|--------|------------------|--------|
|                                      |   | July 3, 2010       |   |   | June 27, 2009    |   |   | July 3, 2010 |   |   | June 27, 2009 |   |
|                                      |   | (in thousands)     |   |   | (in thousands)   |   |
| Income tax benefit for U.S. operations    |   | $                  | (4,536 | )      |             | $      | (14,587 | ) |   |   | $ | (14,556 | ) |   | $ | (15,231 | ) |   |
| Income tax expense for foreign operations |   |               | 417    |   |             |   | 1,040 |   |   |   |   | 710 |   |   |   |  1,154 |   |   |
| Income tax benefit                        |   | $                  | (4,119 | )      |             | $      | (13,547 | ) |   |   | $ | (13,846 | ) |   | $ | (14,077 | ) |   |
| Effective income tax rate                 |   |               | 33.2   | %      |             |   | 43.2 | % |   |   |   | 41.8 | % |   |   | 39.0 | % |   |

----

|                                 |   | Three Months Ended |    |   | Six Months Ended |   |
|--------------------------------------|--------|--------------------|---------|--------|------------------|--------|
|                                 |   | July 3, 2010       |    |   | June 27, 2009    |   |   | July 3, 2010 |   |   | June 27, 2009 |   |
|                                 |   | (in thousands)     |    |   | (in thousands)   |   |
| Segment net sales                    |   | $                  | 240,724 |   |             | $      | 186,677 |   |   |   | $ | 485,905 |   |   | $ | 369,108 |   |   |
| Segment operating income             |   | $                  | 23,608  |   |             | $      | 16,457 |   |   |   | $ | 45,022 |   |   | $ | 26,932 |   |   |
| Operating income margin              |   |               | 9.8     | %      |             |   | 8.8 | % |   |   |   | 9.3 | % |   |   | 7.3 | % |   |
| Restructuring and impairment charges |   | $                  | 4,308   |   |             | $      | 7,460 |   |   |   | $  | 7,894 |   |   | $ | 12,216 |   |   |

----

|                                 |   | Three Months Ended |    |   | Six Months Ended |   |
|--------------------------------------|--------|--------------------|---------|--------|------------------|--------|
|                                 |   | July 3, 2010       |    |   | June 27, 2009    |   |   | July 3, 2010 |   |   | June 27, 2009 |   |
|                                 |   | (in thousands)     |    |   | (in thousands)   |   |
|                                 |   |               |    |   |             |   |   |   |   |   |   |   |   |
| Segment net sales                    |   | $                  | 204,540 |   |             | $      | 210,967 |   |   |   | $ | 413,293 |   |   | $ | 440,636 |   |   |
| Segment operating income (loss)      |   | $                  | 3,780   |   |             | $      | (13,218 | ) |   |   | $ | 3,587 |   |   | $ | (13,857 | ) |   |
| Operating income (loss) margin       |   |               | 1.8     | %      |             |   | (6.3 | )% |   |   |   | 0.9 | % |   |   | (3.1 | )% |   |
| Restructuring and impairment charges |   | $                  | 6,765   |   |             | $      | 23,771 |   |   |   | $  | 12,308 |   |   | $ | 27,630 |   |   |

----

----

----

----

| Rating Agency               |   | CorporateRating |   |  AmendedCreditFacilities |   | 87⁄8%Notes |   | 101⁄2%Notes |   | 77⁄8%Notes |   | 83⁄8%Notes |   | Outlook  |   |   | Last Update  |   |
|-----------------------------|--------|-----------------|--------|-------------------------------|--------|----------------|--------|----------------|--------|----------------|--------|----------------|--------|----------|--------|--------|--------------|--------|
| Moody’s               |   | B2              |   | Ba2                           |   | B2             |   | B3             |   | Caa1           |   | Caa1           |   | Negative |   |   | January 2010 |   |
| Standard & Poor’s |   | B+              |   | BB                            |   | B              |   | B-             |   | B-             |   | B-             |   | Negative |   |   | January 2010 |   |

----

Item 3.  Quantitative and Qualitative Disclosures About Market Risk

----

Item 4.  Controls and Procedures

----

Item 1.  Legal Proceedings

Item 1A.  Risk Factors

| Item 6.       | Exhibits |
|---------------|----------|
|          |     |
| 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 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. |
|   |                                                                                                                                                                                                                                                                                                                                                                                                     |

----

| 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.                                                                              |
|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |
| 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.                                                                               |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |
| 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.                                                                        |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |
| 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.                                                                      |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |
| 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    | 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.                                                                                                                                             |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |
| 4.10   | 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 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.                                              |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |
| 4.11   | 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 June 30, 2006, filed September 13, 2006. |

----

|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 4.12   | 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.        |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
| 4.13   | 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.         |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
| 4.14   | 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.  |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
| 4.15   | 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.        |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
| 4.16   | 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.      |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
| 4.17   | 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. |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
| 4.18   | 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.                       |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
| 4.19   | Indenture, dated as of June 13, 2008, between Cenveo Corporation, the other guarantors named therein 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 dated (date of earliest event reported) June 9, 2008, filed June 13, 2008.                                                                                                                                            |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
| 4.20   | 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.                                                                                                                                                                                                                                |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
| 4.21   | First Supplemental Indenture, dated as of August 20, 2008, to the Indenture of June 13, 2008 between Cenveo Corporation, the other guarantors named therein 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.                                                                                                                  |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
| 4.22   | Second Supplemental Indenture, dated as of October 15, 2009, to the Indenture of June 13, 2008 between Cenveo Corporation, the other guarantors named therein 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.                                                                                                                                      |

----

|   |                                                                                                                                                                                                                                                                                                                                               |
|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 4.23   | 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 87⁄8% Notes of Cenveo Corporation —incorporated by reference to Exhibit 4.1 to registrant’s current report on Form 8-K filed February 9, 2010.               |
|   |                                                                                                                                                                                                                                                                                                                                               |
| 4.24   | Form of Guarantee issued by Cenveo, Inc. and the other Guarantors named therein—incorporated by reference to Exhibit 4.2 to registrant’s current report on Form 8-K filed February 9, 2010.                                                                                                                                            |
|   |                                                                                                                                                                                                                                                                                                                                               |
| 4.25   | 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.                                             |
|   |                                                                                                                                                                                                                                                                                                                                               |
| 4.26   | Intercreditor 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 4.4 to registrant’s current report on Form 8-K filed February 9, 2010.                                                   |
|   |                                                                                                                                                                                                                                                                                                                                               |
| 4.27   | 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 filed March 3, 2010.              |
|   |                                                                                                                                                                                                                                                                                                                                               |
| 4.28   | 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 filed March 3, 2010.   |
|   |                                                                                                                                                                                                                                                                                                                                               |
| 10.1   | Fourth Amendment, dated as of January 25, 2010, to Credit Agreement, dated as of June 21, 2006, among Cenveo Corporation, Cenveo, Inc., Bank of America, N.A., as Administrative Agent, and the other lenders party thereto—incorporated by reference to Exhibit 10.20 to registrant’s annual report on Form 10-K filed March 3, 2010. |
|   |                                                                                                                                                                                                                                                                                                                                               |
| 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 and 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-Q.                                                                                                                                                    |

----

SIGNATURES

|   | CENVEO, INC.   |
|--------|--------------------------|
|   |                     |   |
|   | By:                      | /s/ Robert G. Burton, Sr. |
|   |                     | Robert G. Burton, Sr. |
|   |                     | Chairman and Chief Executive Officer |
|   |                     | (Principal Executive Officer) |
|   |                     |   |
|   |                     |   |
|   | By:                      | /s/ Mark S. Hiltwein |
|   |                     | Mark S. Hiltwein |
|   |                     | Chief Financial Officer |
|   |                     | (Principal Financial Officer and |
|   |                     | Principal Accounting Officer) |