RR Donnelley Records Earnings Jump on Flat Sales
Net sales for the International segment in the quarter increased 5.5% from the first quarter of 2009 to $578.3 million due to a 9.0% positive impact from changes in foreign exchange rates, partially offset by volume and price declines.
The segment’s operating income, which was negatively impacted by charges for restructuring of $9.5 million in the first quarter of 2010 and restructuring and impairment charges of $18.3 million in the first quarter of 2009, improved to $33.7 million in the first quarter of 2010 from $16.5 million in the first quarter of 2009.
Excluding the restructuring and impairment charges, the segment’s non-GAAP operating margin increased to 7.5% in the first quarter of 2010 from 6.3% in the first quarter of 2009 due to favorable product mix and the benefits of continued productivity efforts, partially offset by the impact of price erosion.
- Companies:
- RR Donnelley