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R.R. Donnelley & Sons Company Reports Operating Results (10-Q)
Posted by: gurufocus (IP Logged)
Date: November 2, 2011 04:56PM

R.R. Donnelley & Sons Company (RRD) filed Quarterly Report for the period ended 2011-09-30. R.r. Donnelley & Sons Company has a market cap of $2.92 billion; its shares were traded at around $15.56 with a P/E ratio of 8.6 and P/S ratio of 0.3. The dividend yield of R.r. Donnelley & Sons Company stocks is 6.7%. R.r. Donnelley & Sons Company had an annual average earning growth of 6.7% over the past 10 years.



Highlight of Business Operations:

Net sales of products for the three months ended September 30, 2011 increased $151.1 million, or 6.8%, to $2,364.9 million versus the same period in the prior year. Changes in foreign exchange rates increased net sales by $24.2 million, or 1.1%. The increase in net sales of products was due to the acquisition of Bowne, higher volume driven by increased business in Latin America, commercial and Asia, as well as an increase in pass-through paper sales. These increases were partially offset by a decrease in volume within the books and directories, Europe and the magazines, catalogs and retail inserts reporting units. The increases were also partially offset by continued price pressures and a decline in capital markets transactions activity.

Net sales from services for the three months ended September 30, 2011 increased $44.1 million, or 16.1%, to $318.4 million versus the same period in the prior year. Net sales from services increased due to the acquisition of Bowne and higher logistics volumes, driven in part by growth in print logistics, mail center and commingling services. Changes in foreign exchange rates resulted in increases to net sales of $2.6 million, or 0.9%. These increases were partially offset by lower volume and continued price pressures within premedia.

Net sales for the International segment for the three months ended September 30, 2011 were $703.9 million, an increase of $77.2 million, or 12.3%, compared to the same period in 2010. This increase was primarily due to changes in foreign exchange rates of $26.8 million, or 4.3%, increased business in Latin America and Asia, higher pass-through paper sales in Europe and the acquisition of Bowne. An analysis of net sales by reporting unit follows:

Net sales of products for the nine months ended September 30, 2011 increased $446.1 million, or 6.8%, to $6,988.2 million versus the same period in the prior year. Changes in foreign exchange rates increased net sales by $79.5 million, or 1.2%. Net sales of products also increased due to the acquisition of Bowne, higher volume driven by increased business in the Latin America, Asia and commercial reporting units and increases in pass-through paper sales. These increases were partially offset by decreases in net sales primarily attributable to the production and distribution of materials for the U.S. Census in 2010 and decreases in volume within the books and directories reporting unit, as well as continued price pressures.

Net sales from services for the nine months ended September 30, 2011 increased $132.3 million, or 17.2%, to $902.0 million versus the same period in the prior year. Net sales from services increased due to the acquisition of Bowne and higher logistics volumes, driven in part by growth in print logistics, mail center and commingling services. Additionally, net sales increased due to changes in foreign exchange rates of $8.7 million, or 1.1%.

Read the The complete Report



Stocks Discussed: RRD,
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