RR Donnelley Reports Fourth-Quarter And Full-Year 2010 Results

Highlights:

• Fourth-quarter 2010 GAAP income from operations tripled to $85.7 million from $28.5 million in the fourth quarter of 2009
• Full-year 2010 GAAP income from operations increased 61.3% to $555.5 million from $344.3 million in 2009
• Fourth-quarter 2010 GAAP earnings per diluted share increased to $0.13 from a loss of $0.39 in the fourth quarter of 2009
• Full-year 2010 GAAP earnings per diluted share increased to $1.06 from a loss of $0.13 in 2009
• Fourth-quarter 2010 non-GAAP earnings per diluted share increased 10.9% to $0.51 from $0.46 in the fourth quarter of 2009
• Full-year 2010 non-GAAP earnings per diluted share increased 10.0% to $1.76 from $1.60 in 2009
• Fourth-quarter 2010 net sales of $2.7 billion increased 4.8% compared to the fourth quarter of 2009
• Full-year 2010 net sales of $10.0 billion increased 1.6% compared to 2009

CHICAGO, Feb. 22, 2011 (GLOBE NEWSWIRE) -- R.R. Donnelley & Sons Company (Nasdaq:RRD) today reported fourth-quarter net earnings attributable to common shareholders of $27.0 million, or $0.13 per diluted share, on net sales of $2.7 billion compared to a net loss attributable to common shareholders of $79.5 million, or $0.39 per diluted share, on net sales of $2.6 billion in the fourth quarter of 2009. The fourth-quarter net earnings (loss) attributable to common shareholders included pre-tax charges for restructuring ($21.5 million) and impairment ($61.5 million, non-cash) and acquisition-related costs ($5.6 million) totaling $88.6 million in 2010 compared to charges for restructuring ($17.5 million) and impairment ($131.1 million, non-cash) and acquisition-related costs ($0.1 million) totaling $148.7 million in 2009. Additional details regarding the nature of these charges are included in the attached schedules. 

The Company believes that certain non-GAAP measures, when presented in conjunction with comparable GAAP (Generally Accepted Accounting Principles) measures, are useful because that information is an appropriate measure for evaluating the Company's operating performance. Internally, the Company uses this non-GAAP information as an indicator of business performance, and evaluates management's effectiveness with specific reference to these indicators. These measures should be considered in addition to, not a substitute for, or superior to, measures of financial performance prepared in accordance with GAAP.