<PAGE>
SCHEDULE 14A INFORMATION
Proxy Statement Pursuant to Section 14(a) of
the Securities Exchange Act of 1934 (Amendment No. )
Filed by the Registrant / /
Filed by a Party other than the Registrant / /
Check the appropriate box:
/ / Preliminary Proxy Statement
/ / Confidential, for Use of the Commission Only (as permitted by Rule
14a-6(e)(2))
/ / Definitive Proxy Statement
/ / Definitive Additional Materials
/X/ Soliciting Material Pursuant to Section 240.14a-11(c) or Section
240.14a-12
Wallace Computer Services, Inc.
- --------------------------------------------------------------------------------
(Name of Registrant as Specified In Its Charter)
- --------------------------------------------------------------------------------
(Name of Person(s) Filing Proxy Statement, if other than the Registrant)
Payment of Filing Fee (Check the appropriate box):
/ / $125 per Exchange Act Rules 0-11(c)(1)(ii), 14a-6(i)(1), 14a-6(i)(2) or
Item 22(a)(2) of Schedule 14A.
/ / $500 per each party to the controversy pursuant to Exchange Act Rule
14a-6(i)(3).
/ / Fee computed on table below per Exchange Act Rules 14a-6(i)(4)
and 0-11.
1) Title of each class of securities to which transaction applies:
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2) Aggregate number of securities to which transaction applies:
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3) Per unit price or other underlying value of transaction computed
pursuant to Exchange Act Rule 0-11 (Set forth the amount on which the
filing fee is calculated and state how it was determined):
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4) Proposed maximum aggregate value of transaction:
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5) Total fee paid:
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/X/ Fee paid previously with preliminary materials.
/ / Check box if any part of the fee is offset as provided by Exchange Act Rule
0-11(a)(2) and identify the filing for which the offsetting fee was paid
previously. Identify the previous filing by registration statement number,
or the Form or Schedule and the date of its filing.
1) Amount Previously Paid:
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2) Form, Schedule or Registration Statement No.:
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3) Filing Party:
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4) Date Filed:
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<PAGE>
[LOGO]
Wallace
Information Management Products. Services. Solutions(tm)
Customer Strategy
* Total source
* Information Management:
Products. Services. Solutions
* Superior added-value
Unique Strengths
* Information systems
* Sales force
* Customer base
* Product diversity
* Distribution
* Financial
Business Strategy
* Internal Growth
* Acquisitions and alliances
Growth Initiatives
* W.I.N.tm
* Office products
* Labels
* Electronic forms
* Imaging and personalization
* Health care
W.I.N.
* 157 large customers
* Competitive difference
* Add-on sales opportunities
* Bonds relationship
<PAGE>
Office Products
* United Stationers alliance
* Unique market positioning opportunity
* Leverage existing relationships
* Opportunities to expand retail penetration
Labels
* Strong demand growth
* Prime label acquisitions
* Linerless labels
Electronic Forms
* Infant market - growth explosion ahead
* Alliance with Delrina
* Complete solution for large organizations
Imaging and Personalization
* Leveraging variable imaging strengths
* New products - Direct Pak(tm), Daily Mail(tm), Convex
Mailer
* New applications
Health Care
* Momentum
* MedPlus and United Ad Label alliances
* Consultative Assessment Programtm (CAP)
<PAGE>
Wallace Computer Services
Revenue Growth
(Dollars in millions)
<TABLE>
<CAPTION>
Fiscal Percentage
Year Increase in
End Revenue Revenues
<S> <C> <C>
1990 $448.7 4.6%
1991 $459.0 2.3%
1992 $511.6 11.5%
1993 $545.3 6.6%
1994 $588.2 7.9%
1995 $712.8 21.2%
</TABLE>
<PAGE>
Wallace Computer Services
Operating and Net Income Growth
(Dollars in millions)
<TABLE>
<CAPTION>
Operating Income
Fiscal Percentage
Year Increase (Decrease)
End Revenue in Revenues
<S> <C> <C>
1990 $55.4 4.8%
1991 $50.0 (9.7)%
1992 $54.8 9.6%
1993 $60.9 11.1%
1994 $71.6 17.6%
1995 $85.0 18.7%
<CAPTION>
Net Income
Fiscal Percentage
Year Increase (Decrease)
End Revenue in Revenues
<S> <C> <C>
1990 $39.6 7.4%
1991 $35.0 (11.6)%
1992 $39.5 12.9%
1993 $41.2 4.3%
1994 $47.3 14.8%
1995 $55.3 16.9%
</TABLE>
<PAGE>
Wallace Computer Services
Financial Performance
(Dollars in millions)
Fiscal 1995 Compared to Fiscal 1994
<TABLE>
<CAPTION>
REVENUE NET INCOME
PERCENTAGE PERCENTAGE
FISCAL YEAR INCREASE (DECREASE) FISCAL YEAR INCREASE (DECREASE)
1994 1995 IN REVENUES 1994 1995 IN REVENUES
<S> <C> <C> <C> <C> <C> <C>
First Quarter $144.5 $158.4 9.6% $11.7 $11.6 (0.1)%
Second Quarter $153.1 $176.2 15.0% $12.8 $13.4 4.7%
Third Quarter $141.5 $180.1 27.3% $11.6 $14.5 24.8%
Fourth Quarter $149.5 $198.2 33.0% $11.9 $15.8 32.8%
</TABLE>
<PAGE>
Summary of Research Analyst Earnings Estimates
<TABLE>
<CAPTION>
Prior
Estimate for Current Estimate for Fiscal 1996
Date FY 1996 Date Q1 Q2 Q3 Q4 Annual % Increase
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Robert Baird Aug. 16, 1995 $2.95 Sept. 14, 1995 $0.80 $0.80 $0.74 $0.85 $3.20 8.5%
(J. Scott)
Prudential Aug. 16, 1995 2.90 Sept. 8, 1995 0.70 0.80 0.70 0.80 3.00 3.4%
Securities
(K. Bohringer)
Cleary Gull July 6, 1995 2.85 Sept. 18, 1995 0.67 0.74 0.79 0.81 3.00 5.3%
(M. McDevitt)
Fourteen April 28, 1995 2.65
(S. Schaadt)
Valueline April 28, 1995 2.65
(E. Swort)
</TABLE>
<PAGE>
HISTORICAL INFORMATION FOR WALLACE COMPUTER SERVICES (a)
Dollars in millions, except per share data)
<TABLE>
<CAPTION>
For the fiscal years ended July 31,
1990 1991 1992 1993 1994 1995
<S> <C> <C> <C> <C> <C> <C>
Net Sales $448.7 $459.0 $511.6 $545.3 $588.2 $712.8
COGS 280.3 291.0 320.5 341.6 363.5 456.8
Gross Margin 168.4 168.0 191.0 203.7 224.7 256.0
Selling & Admin. Expenses 94.6 96.0 107.6 112.5 120.0 133.7
EBITDA 73.8 72.0 83.4 91.2 104.6 122.3
Depreciation 18.4 22.0 28.6 30.3 33.0 37.3
Operating Income (EBIT) 55.4 50.0 54.8 60.9 71.6 85.0
Net Interest Income (expenses) 5.4 4.0 4.9 1.5 2.2 2.4
Pretax Income 60.9 54.0 59.8 62.4 73.9 87.5
Income Taxes 21.3 19.0 20.3 21.2 26.6 32.2
Net Income $39.6 $35.0 $39.5 $41.2 $47.3 $55.3
EPS $1.86 $1.63 $1.76 $1.84 $2.16 $2.46
Revenue and Margin Analysis
Revenue Growth 4.6% 2.3% 11.5% 6.6% 7.9% 21.2%
Net Income Growth 7.3% (11.5%) 12.7% 4.3% 14.8% 17.0%
Gross Margin 37.5% 36.6% 37.3% 37.4% 38.2% 35.9%
EBITDA Margin 16.5% 15.7% 16.3% 16.7% 17.8% 17.2%
EBIT Margin 12.4% 10.9% 10.7% 11.2% 12.2% 11.9%
Tax Rate 35.0% 35.2% 34.0% 34.0% 36.0% 36.8%
Net Margin 8.8% 7.6% 7.7% 7.5% 8.0% 7.8%
</TABLE>
(a) Based on public filings.
<PAGE>
Wallace Computer Services
Daily Common Stock Price & Trading History
[Chart showing closing market price
and daily volume from October 13,
1994 to October 13, 1995.]
The participants in this solicitation include Wallace Computer Services, Inc.
(the "Company") and the following directors of the Company: Theodore Dimitriou,
Robert J. Cronin, Richard F. Doyle, Fred F. Canning, R. Darrell Ewers, William
N. Lane III, William E. Olsen and Neele E. Stearns, Jr. Employee participants
may include Bruce D'Angelo, Michael O. Duffield, Michael R. Finger, Michael J.
Halloran, Donald J. Hoffmann, Michael T. Leatherman, Michael M. Mulcahy, Michael
T. Quane, Wayne E. Richter, Bradley P. Samson and Teresa A. Sorrentino. All of
the above persons are deemed to own beneficially less than 2% of the outstanding
shares of Common Stock of the Company in the aggregate. For a description of
interests of certain of the foregoing individuals in the solicitation, please
see the Company's Solicitation/Recommendation Statement on Schedule 14D-9, which
was publicly filed with the Securities and Exchange Commission and previously
mailed to all of the Company's stockholders, the amendments thereto, and the
Company's Proxy Statement dated October 7, 1994 for the Company's 1994 Annual
Meeting of Stockholders.
