<ARTICLE> 5 <LEGEND> THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM MAIL-WELL, INC.'S FINANCIAL STATEMENTS FOR QUARTERS 1, 2 AND 3 OF FISCAL YEAR 1997 AND FOR THE FISCAL YEAR ENDED DECEMBER 31, 1996 ADJUSTED FOR SFAS 128 AND STOCK SPLITS AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS. </LEGEND> <RESTATED> <MULTIPLIER> 1,000 <PERIOD-TYPE> 3-MOS 3-MOS 3-MOS 12-MOS <FISCAL-YEAR-END> MAR-31-1997 JUN-30-1997 SEP-30-1997 DEC-31-1996 <PERIOD-START> JAN-01-1997 APR-01-1997 JUL-01-1997 JAN-01-1996 <PERIOD-END> MAR-31-1997 JUN-30-1997 SEP-30-1997 DEC-31-1996 <CASH> 10,851 12,523 12,074 9,656 <SECURITIES> 9,505 9,505 9,505 9,505 <RECEIVABLES> 44,620 46,062 52,349 40,532 <ALLOWANCES> 0 0 0 0 <INVENTORY> 71,308 73,001 77,891 68,275 <CURRENT-ASSETS> 135,490 141,254 169,748 135,532 <PP&E> 210,722 216,636 233,004 205,708 <DEPRECIATION> (25,598) (28,779) (32,238) (22,406) <TOTAL-ASSETS> 473,306 479,632 544,253 470,866 <CURRENT-LIABILITIES> 110,981 112,109 121,944 113,487 <BONDS> 0 0 0 0 <PREFERRED-MANDATORY> 0 0 0 0 <PREFERRED> 0 0 0 0 <COMMON> 390 376 376 388 <OTHER-SE> 126,770 134,489 142,932 120,770 <TOTAL-LIABILITY-AND-EQUITY> 473,306 479,632 544,253 470,866 <SALES> 212,032 207,482 233,496 778,524 <TOTAL-REVENUES> 212,032 207,482 233,496 778,524 <CGS> 165,398 161,201 183,085 611,591 <TOTAL-COSTS> 195,852 190,221 213,362 717,662 <OTHER-EXPENSES> (530) (354) 348 454 <LOSS-PROVISION> 0 0 0 0 <INTEREST-EXPENSE> 6,301 6,213 6,611 31,218 <INCOME-PRETAX> 10,409 11,402 13,175 29,190 <INCOME-TAX> 4,428 4,826 5,635 12,263 <INCOME-CONTINUING> 5,981 6,576 7,540 16,927 <DISCONTINUED> 0 0 0 0 <EXTRAORDINARY> 0 0 0 0 <CHANGES> 0 0 0 0 <NET-INCOME> 5,981 6,576 7,540 16,927 <EPS-PRIMARY> .17 .19 .21 .49 <EPS-DILUTED> .16 .18 .20 .48