Segment Information

9 Months Ended

Oct. 01, 2011

Segment Information [Abstract]

Segment Information [Text Block]

14. Segment Information

The Company is organized into two operating segments: the envelopes, forms and labels segment and the commercial printing segment. The envelopes, forms and labels segment specializes in the design, manufacturing and printing of: (i) direct mail and customized envelopes developed for the advertising, billing and remittance needs of a variety of customers, including financial services companies; (ii) custom labels and specialty forms sold through an extensive network of resale distributors for industries including food and beverage, manufacturing and pharmacy chains; and (iii) stock envelopes, labels and business forms generally sold to independent distributors, office-products suppliers and office-products retail chains. The commercial printing segment provides print, design and content management offerings, including: (i) high-end color printing of a wide range of premium products for multinational, national and regional customers; (ii) general commercial printing products for regional and local customers; (iii) scientific, technical and medical journals, special interest and trade periodicals for non-profit organizations, educational institutions and specialty publishers; and (iv) specialty packaging and high quality promotional materials for multinational, national and regional consumer products companies.

Operating income (loss) of each segment includes substantially all costs and expenses directly related to the segment’s operations. Corporate expenses include corporate general and administrative expenses including stock-based compensation.

Corporate identifiable assets primarily consist of cash and cash equivalents, miscellaneous receivables, deferred financing fees, deferred tax assets and other assets.

The following tables present certain segment information (in thousands):

		Three Months Ended					Nine Months Ended
		October 1, 2011			October 2, 2010		October 1, 2011			October 2, 2010
Net sales:
Envelopes, forms and labels	$	288,235		$	243,743		$	865,115		$	729,648
Commercial printing		212,317			211,384			633,701			624,677
Total	$	500,552		$	455,127		$	1,498,816		$	1,354,325
Operating income (loss):
Envelopes, forms and labels	$	29,900		$	23,182		$	79,488		$	68,204
Commercial printing		15,350			(168,144	)		40,432			(164,557	)
Corporate		(9,545	)		(11,167	)		(32,674	)		(28,199	)
Total	$	35,705		$	(156,129	)	$	87,246		$	(124,552	)
Restructuring and impairment charges:
Envelopes, forms and labels	$	1,617		$	2,931		$	5,779		$	10,825
Commercial printing		2,961			183,487			7,952			195,795
Corporate		107			1,697			246			2,598
Total	$	4,685		$	188,115		$	13,977		$	209,218
Net sales by product line:
Envelopes	$	181,891		$	129,969		$	539,133		$	387,623
Commercial printing		153,113			152,502			454,312			436,021
Journals and periodicals		59,051			58,653			178,830			188,063
Labels and business forms		106,497			114,003			326,541			342,618
Total	$	500,552		$	455,127		$	1,498,816		$	1,354,325
Intercompany sales:
Envelopes, forms and labels to commercial printing	$	1,013		$	1,070		$	3,264		$	3,415
Commercial printing to envelopes, forms and labels		860			865			3,816			2,760
Total	$	1,873		$	1,935		$	7,080		$	6,175

		October 1, 2011			January 1, 2011
Identifiable assets:
Envelopes, forms and labels	$		734,382	$	665,079
Commercial printing			599,961		627,982
Corporate			72,799		104,669
Total	$		1,407,142	$	1,397,730