RR Donnelley Reports Big Revenue Decline, Small Profit
Segments
Net sales for the U.S. Print and Related Services segment in the quarter decreased 17.6% to $1.8 billion from the second 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 $26.0 million in the second quarter of 2009 and $3.9 million in the second quarter of 2008, decreased to 7.8% in the second quarter of 2009 from 13.1% in the second quarter of 2008. Excluding restructuring and impairment charges, the segment’s non-GAAP operating margin decreased to 9.2% in the second quarter of 2009 from 13.3% in the second quarter of 2008, as the impact of volume and price declines and lower by-products recovery were only partially offset by the benefits of continued productivity efforts and lower variable compensation expense.
- Companies:
- RR Donnelley