RR Donnelley Records Drop in Earnings on Higher Sales
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Excluding the restructuring and impairment charges, the segment’s non-GAAP operating margin declined to 7.6 percent in the second quarter of 2011 from 8.2 percent in the second quarter of 2010 as the 99 basis point impact from changes in foreign exchange rates, primarily due to export sales from certain operations, as well as pricing pressure more than offset the benefits of increased volume and productivity efforts.
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