MONTREAL—Worldcolor reported net income of US$18 million for the fourth quarter of 2009, ended December 31, today. That's a considerable improvement over the loss of US$654 million it chalked up at the same time last year.

The improved bottom line comes despite revenues that fell to US$848 in the period, from US$1.0 billion in 2008, and is attributable to a US$180 million reduction in financial expenses,  the company's emergence from bankruptcy protection, and a gain in foreign exchange.

For fiscal year 2009, net loss ammounted to US$154 million, compared to a net loss of US$944 million in 2008. Revenues fell to US$3.1 billion in 2009, from US$4.0 billion in 2008. Dropping revenues can be attributed to lower volumes caused by the "challenging economy" and to a lesser extent price erosion, the company said in a press release.