RR Donnelley Records Drop in Earnings on Higher Sales
CHICAGO—August 3, 2011—R.R. Donnelley & Sons reported second-quarter net earnings attributable to common shareholders of $12.2 million on net sales of $2.6 billion, compared to $88.8 million on net sales of $2.4 billion in the second quarter of 2010.
The second-quarter net earnings attributable to common shareholders included pre-tax charges for restructuring ($51.4 million) and impairment ($24.3 million, non-cash), a loss on debt extinguishment related to the tender offers on the 2015, 2017 and 2019 Notes ($68.6 million),and acquisition-related costs ($0.9 million) totaling $145.2 million, partially offset by a pre-tax gain on an investment of $9.8 million in 2011, compared to charges for restructuring ($9.2 million) and impairment ($1.5 million, non-cash) and acquisition-related costs ($3.3 million) totaling $14.0 million in 2010. Additional details regarding the nature of these charges are included in the attached schedules.
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