RR Donnelley Reports Higher Earnings on Slight Sales Decline
CHICAGO—May 2, 2012—R.R. Donnelley & Sons reported first-quarter net earnings attributable to common shareholders of $37.4 million on net sales of $2.5 billion compared to net earnings of $33.9 million on net sales of $2.6 billion in the first quarter of 2011.
First-quarter 2012 net earnings attributable to common shareholders included pre-tax charges for restructuring ($40.7 million) and impairment ($9.3 million, non-cash), a loss on debt extinguishment ($12.1 million), acquisition-related expenses ($0.3 million) and a $19.8 million pre-tax favorable adjustment to accounts receivable for prior periods' over-accruals of rebates owed to certain customers within the office products reporting unit in the U.S. Print and Related Services segment. First-quarter 2011 net earnings attributable to common shareholders included pre-tax charges for restructuring ($42.7 million) and impairment ($8.1 million, non-cash) and acquisition-related expenses ($0.4 million).
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