RR Donnelley Reports Gains, Largely Due to Bowne Acquisition
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The company’s gross margin of 23.4 percent in the third quarter of 2011 compared to 23.7 percent in the third quarter of 2010 as pricing pressure was mostly offset by productivity improvements, a higher recovery on print-related by-products and lower variable compensation expense.
Operating earnings were negatively impacted by restructuring and impairment charges and acquisition expenses of $34.9 million in the third quarter of 2011 and $51.3 million in the third quarter of 2010, resulting in operating income of $156.8 million in 2011 and $148.7 million in 2010. Operating margin was 5.8 percent in 2011 and 6.0 percent in 2010.
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- RR Donnelley
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