During the period the company absorbed almost $35m in restructuring and impairment charges as it continued to integrate World Color, which was formed after Quebecor World fell into bankruptcy protection in 2009.

Nonetheless, Quad/Graphics announced a slight increase in pro forma sales, to $1.1bn, while net losses reduced year-on-year from $8.5m to $7.3m.

Joel Quadracci, chairman, president and chief executive of Quad/Graphics, said the company had addressed "declines in legacy World Color volumes, lower contractual pricing inherited with the acquisition, and ongoing pricing headwinds due to overcapacity in the industry".

Last month, Quad/Graphics said it would close its ageing book-printing facility in Buffalo to improve production and distribution efficiency in its book-manufacturing operation.

This was the third closure announced this year - the others were plants in Quebec and Illinois - and the tenth in North America since the World Color acquisition was completed, leading to a net reduction of 3,300 full-time equivalent employees.

Quadracci said the integration of World Color would take another 14 months to complete but Quad/Graphics would look to continue to grow both organically and by acquisition, in the US and abroad.

As well as shutting plants, Quad/Graphics is investing heavily across continuing operations. This includes a $15m spend on its book operation in Martinsburg, West Virginia, and $40m on its direct mail business, including customisation capability at Pewaukee, Wisconsin.

Quad's acquisition of World Color made it the second largest print company in the world behind RR Donnelley, which had also bid for World Color in May 2009 when it was under bankruptcy protection.

Quad/Graphics has sites across North and Latin America, as well as in Poland.