RR Donnelley Posts Earnings Increase, Net Sales Decline

Non-GAAP net earnings attributable to common shareholders totaled $88.5 million in the second quarter of 2012, vs. $105.6 million in the second quarter of 2011.

Excluding restructuring and impairment charges and acquisition-related expenses, non-GAAP operating income increased from $192.7 million to $198.4 million in the second quarter of 2012 and non-GAAP operating margin improved to 7.8 percent in the second quarter of 2012 from 7.3 percent in the second quarter of 2011. Lower pension expense, productivity improvements and lower depreciation and amortization more than offset an unfavorable product mix, lower volume, continued pricing pressure and unfavorable pricing on by-products.