RR Donnelley Reports Q4, Full-Year Results; Q4 Sales Grew 11.4% Due to CGX, Esselte Acquisitions

Non-GAAP Earnings
Fourth-quarter 2014 non-GAAP adjusted EBITDA was $326.9 million, or 10.7 percent of net sales, compared to non-GAAP adjusted EBITDA of $293.6 million, or 10.7 percent of net sales, in the fourth quarter of 2013. The increase in non-GAAP adjusted EBITDA was primarily due to the acquisitions of Consolidated Graphics and the North American operations of Esselte, as well as higher volume, in the International and Strategic Services segments. These increases were partially offset by price pressure in all four operating segments, which also negatively impacted margin.

Non-GAAP net earnings attributable to common shareholders totaled $105.8 million, or $0.52 per diluted share, in the fourth quarter of 2014 compared to $89.8 million, or $0.49 per diluted share, in the fourth quarter of 2013.

2015 Guidance

The Company provides the following full-year guidance for 2015, which excludes any impact of the previously announced pending acquisition of Courier Corp.:

About RR Donnelley
RR Donnelley (Nasdaq:RRD) helps organizations communicate more effectively by working to create, manage, produce, distribute and process content on behalf of our customers. The company assists customers in developing and executing multichannel communication strategies that engage audiences, reduce costs, drive revenues and increase compliance. RR Donnelley's innovative technologies enhance digital and print communications to deliver integrated messages across multiple media to highly targeted audiences at optimal times for clients in virtually every private and public sector. Strategically located operations provide local service and responsiveness while leveraging the economic, geographic and technological advantages of a global organization.

Source: RR Donnelley.