R.R. Donnelley Q4 Profit Tops Estimates; Organic Sales Down 2.8%

(RTTNews) - R.R. Donnelley & Sons Company (RRD) reported fourth-quarter adjusted net earnings attributable to common shareholders of $101.0 million, or $0.48 per share, compared to $105.8 million, or $0.52 per share, last year. On average, three analysts polled by Thomson Reuters expected the company to report profit per share of $0.44 for the quarter. Analysts' estimates typically exclude special items.

Non-GAAP adjusted EBITDA in the fourth quarter of 2015 was $329.0 million, compared to $326.9 million in the fourth quarter of 2014. Adjusted EBITDA margin was 11.2% in the quarter, a 50 basis point improvement from the same quarter last year.

Net earnings attributable to common shareholders was $71.0 million, or $0.34 per share, compared to $19.5 million, or $0.10 per share, a year ago. The company said its fourth-quarter net earnings attributable to common shareholders included pre-tax charges of $27.0 million and $143.6 million in 2015 and 2014, respectively,

Net sales were $2.93 billion, down 4.4%, from the fourth quarter of 2014. Organic sales decreased 2.8% from the fourth quarter of 2014, as increases in the International and Strategic Services segments only partially offset declines in the Variable Print and Publishing and Retail Services segments. Analysts expected revenue of $2.94 billion for the quarter.

For 2016, the company expects: net sales in the range of $11.3 to $11.5 billion; and non-GAAP adjusted EBITDA margin in the range of 10.4% to 10.6%.