R.R. Donnelley Q2 Profit Down; Backs 2014 Net Sales Outlook - Quick Facts

(RTTNews) - Print and related services provider R.R. Donnelley & Sons Co. (RRD) said that second-quarter 2014 net earnings attributable to common shareholders declined to $64.7 million, or $0.32 per share, from $65.4 million or $0.36 per share, in the second quarter of 2013.

The second-quarter net earnings attributable to common shareholders included pre-tax charges of $28.3 million and $25.4 million in 2014 and 2013, respectively.

Non-GAAP net earnings attributable to common shareholders totaled $84.4 million or $0.42 per share, in the second quarter of 2014 compared to $82.5 million or $0.45 per share, in the second quarter of 2013. Analysts polled by Thomson Reuters expected the company to report earnings of $0.35 per share for the quarter. Analysts' estimates typically exclude special items.

Net sales in the quarter were $2.9 billion, up $330.9 million, or 12.9%, from the second quarter of 2013, largely due to the acquisitions of Consolidated Graphics and the North American operations of Esselte. After adjusting for the positive impact of acquisitions and pass-through paper sales, and the negative impact of dispositions, organic sales increased 0.8% from the second quarter of 2013, as volume increases in the Strategic Services and Variable Print segments were partially offset by price erosion in each segment and volume declines in the Publishing and Retail Services segment.

The company still expects net sales to be in the range of $11.5 billion - $11.8 billion for fiscal 2014.