Donnelley Reports Sales Growth, Announces $1 Billion Share Repurchase
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Gross margin increased to 24.3 percent in the first quarter of 2011 from 23.7 percent in the first quarter of 2010 due to the acquisition of Bowne, a higher recovery on print-related by-products, higher volume and productivity improvements, partially offset by continued price pressure.
SG&A expense as a percentage of net sales in the first quarter of 2011 increased to 12.7 percent from 11.3 percent in the first quarter of 2010 primarily due to the acquisition of Bowne and higher pension and other benefits-related expenses.
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- RR Donnelley
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