Donnelley Earnings Decline Following Lost Client
CHICAGO—RR Donnelley posted third quarter net earnings of $13.1 million on sales of $2.5 billion compared to earnings of $168.2 million on sales of $2.9 billion for the same period in 2008. The third quarter 2009 earnings include $131.7 million in restructuring and impairment charges, virtually all of which is associated with the previously reported termination of a significant long-term customer contract in the business process outsourcing reporting unit within the International segment.
In other company news, RR Donnelley has been awarded a multiyear, multimillion dollar agreement to produce catalogs, forms and labels and to provide prepress and logistics services for Harriet Carter, a leading catalog and online merchant. The agreement significantly expands the companies’ long-term relationship and includes prepress, production and logistics services for Fresh Finds, a catalog title focused on kitchen wares and cooking tools, accents and cleaning and organizing solutions for the home.