RR Donnelley Records Earnings Jump on Flat Sales
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Excluding charges for restructuring and impairment in the first quarter of both years and acquisition expenses in the first quarter of 2010, our non-GAAP operating margin in the first quarter of 2010 increased to 6.8% from 5.8% in the first quarter of 2009, as the benefits from our productivity efforts and the higher by-products recoveries were partially offset by continued price pressure.
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