RR Donnelley Reports Big Revenue Decline, Small Profit
Non-GAAP net earnings attributable to common shareholders totaled $76.3 million or $0.37 per diluted share in the second quarter of 2009 compared to $156.4 million or $0.73 per diluted share in the second quarter of 2008. Second-quarter non-GAAP net earnings attributable to common shareholders exclude restructuring and impairment charges for both years, acquisition-related expenses in 2009 and income from discontinued operations in 2008. For non-GAAP comparison purposes, the effective tax rate increased to 37.5% in the second quarter of 2009 from 33.3% in the second quarter of 2008 primarily due to the loss of tax benefits in certain foreign tax jurisdictions in 2009. A reconciliation of GAAP net earnings attributable to common shareholders to non-GAAP net earnings attributable to common shareholders is presented in the attached tables.
- Companies:
- RR Donnelley