RR Donnelley Reports Big Revenue Decline, Small Profit
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The Company’s effective tax rate increased to 64.6% in the second quarter of 2009 from 33.5% in the second quarter of 2008 reflecting the Company’s expectation of a higher full-year effective tax rate in 2009. The higher full-year tax rate is primarily driven by the impact of foreign restructuring and impairment charges on which the Company does not expect to realize tax benefits at a rate equivalent to the U.S. statutory tax rate.
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