Donnelley intends to use all or a portion of the net proceeds from the offering of the notes to fund a tender offer for any and all of its outstanding 11.25 percent notes due 2019 based on a market premium to be determined and a partial tender offer for certain of its other outstanding notes and debentures based on prices to be determined.
Under this strategic printing and supply chain management agreement, Donnelley will provide fulfillment, printing and global print-on-demand services to HarperCollins Publishers and Zondervan. It will handle the fulfillment of all HarperCollins new releases from the company’s Harrisonburg, VA, facility.
CHICAGO—RR Donnelley reported first-quarter net earnings of $33.9 million on net sales of $2.6 billion compared to $52.6 million on net sales of $2.4 billion in the first quarter of 2010. The first-quarter net earnings included pre-tax charges for restructuring ($42.7 million) and impairment ($8.1 million, non-cash) and acquisition-related costs ($0.4 million) totaling $51.2 million in 2011 compared to charges for restructuring ($14.5 million) and impairment ($1.0 million, non-cash) and acquisition-related costs ($2.0 million) totaling $17.5 million in 2010.
R.R. Donnelley had first-quarter net earnings of $33.9 million on net sales of $2.6 billion compared to $52.6 million on net sales of $2.4 billion in the first quarter of 2010. “This new share repurchase authorization demonstrates RR Donnelley’s continued commitment to increase value to shareholders,” said Thomas J. Quinlan III, RR Donnelley’s president and CEO.
Commercial printing industry news briefs, including items Vertis, RR Donnelley, Böwe Bell + Howell, SourceLink, American Litho, Berlin Industries, MSP Digital Marketing, Domtar Corp., Tigner Printing and Mercury Print Productions.
RRD’s facility in Crawfordsville, IN, has been recommended for certification to Voluntary Protection Program Star Status, which reflects excellence in occupational safety and health, as well as a commitment to continuous improvement. It has a lost workday rate of approximately 47 percent below the average of our industry.
Mark Angelson will lead a high-powered economic team under the mayor-elect (Rahm Emanuel) that also includes Chief Financial Officer Lois Scott and Budget Director Alexandra Holt. Angelson is a mergers-and-acquisitions specialist who presided over a major consolidation of the printing industry during a four-year stint as CEO of Chicago-based RR Donnelley.
Despite a slight uptick in revenues, the city remains on the brink of bankruptcy with a structural deficit approaching $1 billion when under-funded employee pensions are factored in. The newly created Economic, Budgetary and Business Development Council chaired by Angelson will include Chicago’s CFO, budget director, chief technology
Commercial printing industry news briefs, including items on PEP Direct, Edward Hine, IWCO Direct, Muller Martini, The Standard Group, TriStar Graphics and RR Donnelley.
CHICAGO—RR Donnelley has acquired Journalism Online and its Press+ offering, which enables publishers to seamlessly integrate a paid-content engine into their Websites. The Press+ system supports publishers as they offer audiences a mix of free and subscription-based content.
Journalism Online is managed by two of the company’s founders, veteran digital-media leaders Steven Brill, founder of The American Lawyer magazine and Court TV, and L. Gordon Crovitz, a former Wall Street Journal publisher. Press+ enables publishers to integrate a paid-content engine into their Websites.
