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R.R. Donnelley: Full-year 2012 Revenue of $10.2 billion Declined 3.7%

R.R. Donnelley & Sons Company (RRD) reported a 2012 fourth-quarter net loss attributable to common shareholders of $849.0 million, or $4.70 per diluted share, on net sales of $2.7 billion compared to a net loss of $326.7 million, or $1.78 per diluted share, on net sales of $2.7 billion in the fourth quarter of 2011.

Fourth-quarter 2012 revenue of $2.7 billion declined 2.2% from the fourth quarter of 2011.  Full-year 2012 revenue of $10.2 billion declined 3.7% from 2011

The Company reports its results in two reportable segments: 1) U.S. Print and Related Services and 2) International:  Net sales for the U.S. Print and Related Services segment in the fourth quarter of 2012 decreased 3.7% from the fourth quarter of 2011 to $1.9 billion due to volume declines across certain product offerings, lower pass-through paper sales of $23.4 million, or 110 basis points, and continued pricing pressure across the segment.  The segment’s operating loss of $760.4 million in the fourth quarter of 2012, which was negatively impacted by charges for impairment and restructuring of $943.5 million, compared to an operating loss in the fourth quarter of 2011 of $211.1 million, which included charges for impairment and restructuring and the contingent compensation of a prior acquisition totaling $389.0 million

Net sales for the International segment of $729.3 million increased $13.6 million, or 1.9%, from the fourth quarter of 2011, inclusive of a 150 basis point favorable impact from increased pass-through paper sales and changes in foreign exchange rates.  The balance of the change in net sales was driven by volume increases in Asia and Latin America.  The segment’s operating loss of $21.0 million in the fourth quarter of 2012, which was impacted by charges for impairment and restructuring of $75.9 million as well as a $3.7 million gain on pension curtailment, compared to an operating loss of $89.0 million in the fourth quarter of 2011, which included charges for impairment and restructuring of $133.4 million.

Source:  finance.yahoo.com

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