R.R. Donnelley Reiterates Full-year Guidance; Q1 Profit Beats Estimates

(RTTNews) - R.R. Donnelley & Sons Company (RRD) said its full-year guidance for 2016 remains unchanged from previous guidance, and excludes the impact of the previously announced pending spin-off transactions. The company continues to expect 2016 net sales in a range of $11.3 to $11.5 billion.

The company reported first-quarter net earnings attributable to shareholders of $39.8 million, or $0.19 per share, compared to $22.3 million, or $0.11 per share, in the first quarter of 2015. The first-quarter net earnings attributable to common shareholders included pre-tax charges of $9.9 million and $60.2 million in 2016 and 2015, respectively. Non-GAAP net earnings attributable to common shareholders totaled $47.2 million, or $0.22 per share, compared to $51.9 million, or $0.26 per share, in the first quarter of 2015. Analysts polled by Thomson Reuters expected the company to report profit per share of $0.18 for the quarter. Analysts' estimates typically exclude special items.

Net sales in the quarter were $2.7 billion, down 3.4%, from the first quarter of 2015. Organic sales decreased 3.1%. Analysts expected revenue of $2.62 billion, for the quarter.