R.R. Donnelley Turns To Profit In Q1; Backs 2015 Net Sales Outlook - Quick Facts

(RTTNews) - R.R. Donnelley & Sons Co. (RRD) reported that its first-quarter 2015 net earnings attributable to common shareholders was $22.3 million, or $0.11 per share, compared to net loss of $29.0 million, or $0.15 per share, in the first quarter of 2014.

The first-quarter results included pre-tax charges of $60.2 million and $148.1 million in 2015 and 2014, respectively.

Non-GAAP net earnings attributable to common shareholders totaled $51.9 million, or $0.26 per share, in the first quarter of 2015 compared to $59.7 million, or $0.31 per diluted share, in the first quarter of 2014. Analysts polled by Thomson Reuters expected the company to report earnings of $0.23 per share for the quarter. Analysts' estimates typically exclude special items.

Net sales in the quarter were $2.7 billion, up $72.3 million, or 2.7%, from the first quarter of 2014, largely due to the acquisitions of Consolidated Graphics and the North American operations of Esselte. After adjusting for the impact of acquisitions, changes in foreign exchange rates, dispositions and changes in pass-through paper, organic sales increased 0.1% from the first quarter of 2014, as increases in the Strategic Services and Variable Print segments were partially offset by declines in the Publishing and Retail Services and International segments. Wall Street analysts had a consensus revenue estimate of $2.72 billion for the quarter.

Looking ahead for 2015, the company still expects net sales to be in the range of $11.7 billion to $11.9 billion. Wall Street expects revenues of $11.72 billion for fiscal 2015.