reported higher first-quarter earnings and sales and disclosed a multiyear contract renewal with
Martha Stewart Living
The printing outfit earned $111.9 million, or 51 cents a share, compared with $106.9 million, or 49 cents a share, a year ago. Adjusted earnings of 57 cents a share matched the Thomson First Call consensus. First-quarter sales rose 18% to $2.27 billion, beating the $2.08 billion consensus forecast.
"Strong sales growth across our platform, led by our integrated print communications and publishing and retail services segments, and continued cost discipline, generated our strong results during the first quarter," the company said. "Previously announced client contract wins and renewals continue to impact our results and we are pleased that our momentum continued during the quarter."
R.R. Donnelley forecast full-year earnings of $2.45 to $2.50 a share, including stock options expense and the cost of an acquisition. The consensus estimate of analysts was for earnings of $2.48 a share.
Separately, Donnelley said Martha Stewart Living renewed a contract to print its flagship magazine,
and other titles over a multiyear period. Financial terms weren't disclosed.