RR Donnelley Reports Big Decline in Net Earnings for Third Quarter
Segments
Net sales for the U.S. Print and Related Services segment in the quarter decreased 14.9% to $1.8 billion from the third quarter of 2008 due to volume and price declines across all products and services. The segment's operating margin, which was negatively impacted by charges for restructuring and impairment of $3.6 million in the third quarter of 2009 and $16.7 million in the third quarter of 2008, decreased to 9.0% in the third quarter of 2009 from 13.4% in the third quarter of 2008. Excluding restructuring and impairment charges, the segment's non-GAAP operating margin decreased to 9.2% in the third quarter of 2009 from 14.2% in the third quarter of 2008, as the impact of volume and price declines, higher variable compensation expense and lower by-products recoveries was only partially offset by the benefits of continued productivity efforts.
- Companies:
- RR Donnelley
- Places:
- Chicago