<br />
2011 Annual Report<br />
GAME ON <br />
<br />
Strategy Matters<br />
We live in a fiercely competitive business environment. Many<br />
players are vying for the same prize. To win, you need the right<br />
combination of products and services, the ability to anticipate<br />
market shifts and the vision to recognize opportunity in a<br />
changing world. At Consolidated Graphics, we believe it's all<br />
about being the best at serving and supporting our customers –<br />
now and into the future.<br />
Game On | CGX 2011 1<br />
Winning Combination<br />
Consolidated Graphics goes beyond the traditional definition of a commercial<br />
printer, delivering end-to-end print and technology solutions that are based<br /> <a title="2011 CGX Annual Report page 1" href="http://viewer.zmags.com/publication/e14193f9?page=1"> 2011 Annual Report GAME ON </a>
<a title="2011 CGX Annual Report page 2" href="http://viewer.zmags.com/publication/e14193f9?page=2"> </a>
<a title="2011 CGX Annual Report page 3" href="http://viewer.zmags.com/publication/e14193f9?page=3"> Strategy Matters We live in a fiercely competiti</a>
<a title="2011 CGX Annual Report page 4" href="http://viewer.zmags.com/publication/e14193f9?page=4"> Winning Combination Consolidated Graphics goes b</a>
<a title="2011 CGX Annual Report page 5" href="http://viewer.zmags.com/publication/e14193f9?page=5"> SINGLE-SOURCE PROVIDER · Complete in-house printi</a>
<a title="2011 CGX Annual Report page 6" href="http://viewer.zmags.com/publication/e14193f9?page=6"> Game Technology Leadership Rapidly advancing tec</a>
<a title="2011 CGX Annual Report page 7" href="http://viewer.zmags.com/publication/e14193f9?page=7"> Plan Emerging Concepts With a demonstrated commi</a>
<a title="2011 CGX Annual Report page 8" href="http://viewer.zmags.com/publication/e14193f9?page=8"> START START CONNECT STREAMLINE ORGANIZE </a>
<a title="2011 CGX Annual Report page 9" href="http://viewer.zmags.com/publication/e14193f9?page=9"> TIP: Our technologies break down obstacles and el</a>
<a title="2011 CGX Annual Report page 10" href="http://viewer.zmags.com/publication/e14193f9?page=10"> TIP: We help you choose the right options, antici</a>
<a title="2011 CGX Annual Report page 11" href="http://viewer.zmags.com/publication/e14193f9?page=11"> “Regular turnaround is just five business days… </a>
<a title="2011 CGX Annual Report page 12" href="http://viewer.zmags.com/publication/e14193f9?page=12"> Play to Win It has been said that the secret of </a>
<a title="2011 CGX Annual Report page 13" href="http://viewer.zmags.com/publication/e14193f9?page=13"> the CGX partnership ated $500,000 Feld credits </a>
<a title="2011 CGX Annual Report page 14" href="http://viewer.zmags.com/publication/e14193f9?page=14"> Thought Leadership In May 2011, nearly 1,000 of </a>
<a title="2011 CGX Annual Report page 15" href="http://viewer.zmags.com/publication/e14193f9?page=15"> Bench Strength Exceptional people who are well e</a>
<a title="2011 CGX Annual Report page 16" href="http://viewer.zmags.com/publication/e14193f9?page=16"> Technology Center Facility Yokohama </a>
<a title="2011 CGX Annual Report page 17" href="http://viewer.zmags.com/publication/e14193f9?page=17"> PLAY TO WIN FILL IT IN Go to www.game</a>
<a title="2011 CGX Annual Report page 18" href="http://viewer.zmags.com/publication/e14193f9?page=18"> To Our Shareholders We are pleased to report a ye</a>
<a title="2011 CGX Annual Report page 19" href="http://viewer.zmags.com/publication/e14193f9?page=19"> We have never deviated from our proven strategy f</a>
<a title="2011 CGX Annual Report page 20" href="http://viewer.zmags.com/publication/e14193f9?page=20"> 2011 Financial Highlights YEAR ENDED MARCH 31 ($</a>
<a title="2011 CGX Annual Report page 21" href="http://viewer.zmags.com/publication/e14193f9?page=21"> 2011 Financials Selected Consolidated Financial D</a>
<a title="2011 CGX Annual Report page 22" href="http://viewer.zmags.com/publication/e14193f9?page=22"> Selected Consolidated Financial Data The follow</a>
<a title="2011 CGX Annual Report page 23" href="http://viewer.zmags.com/publication/e14193f9?page=23"> MDA Management's Discussion and Analysis of Fina</a>
<a title="2011 CGX Annual Report page 24" href="http://viewer.zmags.com/publication/e14193f9?page=24"> MDA Our printing businesses maintain their own s</a>
<a title="2011 CGX Annual Report page 25" href="http://viewer.zmags.com/publication/e14193f9?page=25"> Results of Operations The following table sets f</a>
<a title="2011 CGX Annual Report page 26" href="http://viewer.zmags.com/publication/e14193f9?page=26"> MDA Litigation and other, which increased operat</a>
<a title="2011 CGX Annual Report page 27" href="http://viewer.zmags.com/publication/e14193f9?page=27"> Litigation and other of $7.2 million for 2010 inc</a>
<a title="2011 CGX Annual Report page 28" href="http://viewer.zmags.com/publication/e14193f9?page=28"> MDA Net cash provided by operating activities de</a>
<a title="2011 CGX Annual Report page 29" href="http://viewer.zmags.com/publication/e14193f9?page=29"> of our other debt obligations, including substant</a>
<a title="2011 CGX Annual Report page 30" href="http://viewer.zmags.com/publication/e14193f9?page=30"> MDA Critical Accounting Policies We have identi</a>
<a title="2011 CGX Annual Report page 31" href="http://viewer.zmags.com/publication/e14193f9?page=31"> Insurance Liabilities – We are self-insured for t</a>
<a title="2011 CGX Annual Report page 32" href="http://viewer.zmags.com/publication/e14193f9?page=32"> Consolidated Balance Sheets MARCH 31 (IN THOUSA</a>
<a title="2011 CGX Annual Report page 33" href="http://viewer.zmags.com/publication/e14193f9?page=33"> Consolidated Income Statements YEAR ENDED MARCH</a>
<a title="2011 CGX Annual Report page 34" href="http://viewer.zmags.com/publication/e14193f9?page=34"> Consolidated Statements of Shareholders' Equity </a>
<a title="2011 CGX Annual Report page 35" href="http://viewer.zmags.com/publication/e14193f9?page=35"> Consolidated Statements of Cash Flows YEAR END</a>
<a title="2011 CGX Annual Report page 36" href="http://viewer.zmags.com/publication/e14193f9?page=36"> Notes to Consolidated Financial Statements (IN TH</a>
<a title="2011 CGX Annual Report page 37" href="http://viewer.zmags.com/publication/e14193f9?page=37"> Revenue Recognition and Accounts Receivable – The</a>
<a title="2011 CGX Annual Report page 38" href="http://viewer.zmags.com/publication/e14193f9?page=38"> Goodwill is as follows: YEAR ENDED MARCH 31 2011</a>
<a title="2011 CGX Annual Report page 39" href="http://viewer.zmags.com/publication/e14193f9?page=39"> Income Taxes – The provision for income taxes inc</a>
<a title="2011 CGX Annual Report page 40" href="http://viewer.zmags.com/publication/e14193f9?page=40"> Related Party Transactions – In the normal course</a>
<a title="2011 CGX Annual Report page 41" href="http://viewer.zmags.com/publication/e14193f9?page=41"> 3 ACQUISITIONS Reve</a>
<a title="2011 CGX Annual Report page 42" href="http://viewer.zmags.com/publication/e14193f9?page=42"> In August 2010, the Company entered into a new Cr</a>
<a title="2011 CGX Annual Report page 43" href="http://viewer.zmags.com/publication/e14193f9?page=43"> At March 31, 2011, other debt obligations totaled</a>
<a title="2011 CGX Annual Report page 44" href="http://viewer.zmags.com/publication/e14193f9?page=44"> At March 31, 2011 and 2010, a current income tax </a>
<a title="2011 CGX Annual Report page 45" href="http://viewer.zmags.com/publication/e14193f9?page=45"> The Company's federal income tax returns for the </a>
<a title="2011 CGX Annual Report page 46" href="http://viewer.zmags.com/publication/e14193f9?page=46"> Legal Matters – In late fiscal 2009, a jury render</a>
<a title="2011 CGX Annual Report page 47" href="http://viewer.zmags.com/publication/e14193f9?page=47"> For fiscal 2011, the number of shares granted incl</a>
<a title="2011 CGX Annual Report page 48" href="http://viewer.zmags.com/publication/e14193f9?page=48"> The Company recorded $3,307 of share-based compen</a>
<a title="2011 CGX Annual Report page 49" href="http://viewer.zmags.com/publication/e14193f9?page=49"> Management's Annual Report on Internal Control Ov</a>
<a title="2011 CGX Annual Report page 50" href="http://viewer.zmags.com/publication/e14193f9?page=50"> Report of Independent Registered Public Accountin</a>
<a title="2011 CGX Annual Report page 51" href="http://viewer.zmags.com/publication/e14193f9?page=51"> Report of Independent Registered Public Accountin</a>
<a title="2011 CGX Annual Report page 52" href="http://viewer.zmags.com/publication/e14193f9?page=52"> Reconciliation of Non-GAAP Financial Measures (Un</a>
<a title="2011 CGX Annual Report page 53" href="http://viewer.zmags.com/publication/e14193f9?page=53"> The Company defines Adjusted Operating Income as o</a>
<a title="2011 CGX Annual Report page 54" href="http://viewer.zmags.com/publication/e14193f9?page=54"> Corporate Information Headquarters </a>
<a title="2011 CGX Annual Report page 55" href="http://viewer.zmags.com/publication/e14193f9?page=55"> Corporate Directory Directors Joe R. Davis C</a>