RR Donnelley Records a Net Loss as Demand Softens

Non-GAAP net earnings attributable to common shareholders totaled $85.2 million in the fourth quarter of 2011, compared to $107.2 million in the fourth quarter of 2010.

“Although demand softened during the last few months of the year, we are pleased with the $695 million of operating cash flow less capital expenditures that we generated in 2011,” said Thomas J. Quinlan III, RR Donnelley’s president and CEO. “We’ve paid down over $400 million of debt in the second half of 2011, ending the year with gross leverage of 2.9x, within our targeted leverage range of 2.5x to 3.0x.”