The invention is directed to a highspeed digital print-out apparatus. The apparatus involved is provided with tractors which move the paper in a first direction past a stationary print-out wheel which in conjunction with a print hammer imprints preselected indicia upon the paper. The paper is movable in the reverse or third direction, again by the tractors, to initiate a new line of indicia and in a second direction normal to said forward and reverse directions to provide spacing between adjacent lines. There is also provided a reversing mechanism for moving the paper in a fourth direction reverse to the second direction to position the paper for the start of a new sheet.